Houthi Missile Attack Sends Brent Crude Prices Soaring Above $80

The ongoing US-Israel-Iran conflict has led to renewed security concerns in the Red Sea after Yemen's Iran-aligned Houthi movement claimed responsibility for a missile attack on a Saudi oil tanker near the Red Sea. The incident pushed global oil prices higher, with Brent crude futures rising $1.51 (1.9%) to $80.87 per barrel.

The Houthi movement said it carried out the missile strike on the Saudi oil tanker Wafa off the coast of Yanbu, one of Saudi Arabia's key oil export ports along the Red Sea. The group claimed several ballistic missiles were launched at the vessel as part of its ongoing maritime blockade campaign targeting Saudi-linked shipping.

Energy traders continue to closely monitor developments in both the Red Sea and the Strait of Hormuz, as any disruption in these strategic waterways can have an immediate impact on global crude oil prices. The latest Houthi claims have increased fears that shipping risks could intensify if regional tensions continue to escalate.