Houthi Strikes on Saudi Oil Tankers Send Oil Prices Soaring Past $100
The Houthi rebels in Yemen have struck two Saudi Arabian oil tankers in the Red Sea, causing oil prices to surge past $100 a barrel. The strikes on Thursday targeted the Encelia and Layla, with drones and missiles allegedly used against the vessels for violating a maritime blockade imposed by the Houthis.
The state-run Saudi Press Agency confirmed that the Encelia was struck, resulting in a fire at the bow of the vessel. All crew members are safe, according to an unnamed official from the Transport General Authority. The attack has widened the scope of the war launched by the United States and Israel against Iran on February 28.
The price of Brent crude stood at $100.07 at 9:21 a.m. EDT, up 6.38% from the previous day. This is the first time oil prices have hit $100 since May. Over the last month, Brent has risen by more than 33% due to disruptions in key Middle Eastern energy trade routes.
US President Donald Trump said that the US will hold Iran responsible if the Houthis continue attacking vessels and threatened 'major military punishment' against both Iran and the rebel group.