Houthi Rebels Strike Saudi Oil Tankers Amid Escalating Gulf Tensions

The Middle East's oil market is experiencing increased tensions after Yemen's Iran-backed Houthi rebels announced they had attacked two Saudi oil tankers in the Red Sea. The attack marks their first reported strike on a vessel since announcing a blockade of Saudi-linked shipping through the Bab el-Mandeb Strait earlier this week.

The Houthis claim the move is retaliation for Saudi Arabia's blockade on Yemen and a recent strike on Sanaa's international airport. This escalation adds further pressure to global shipping as the Strait of Hormuz remains closed, causing Brent crude prices to hit their highest level since May.