Commodities
Houthi Rebels Strike Saudi Oil Tanker as Strait of Hormuz Crisis Deepens
Iran's Houthi rebels attacked a Saudi oil tanker in the Red Sea on Wednesday, targeting it with ballistic missiles. This is the eighth Saudi oil tanker hit since the Houthis' maritime blockade began on July 22.
The Strait of Hormuz crisis continues to escalate as President Trump threatened Iran with 'decapitation' if the strait doesn't open 'very soon'. The US has used nearly all its stockpile of long-range missiles in the conflict, according to sources.
US Secretary of State Marco Rubio stated that progress had been made in talks between Iran and Oman regarding the Strait's reopening. However, no final agreement has been reached yet.