Houthi Strikes Push Oil Prices to Nearly $100 Per Barrel Amid Escalating Middle East Conflict
The Middle East conflict escalated on Tuesday, pushing oil prices to nearly $100 per barrel. The Kingdom of Saudi Arabia's Ministry of Foreign Affairs confirmed that Houthi strikes targeting energy infrastructure resulted in 73 civilian injuries.
Saudi Arabia warned against the consequences of the Houthi militia's continued targeting of innocent civilians and civilian facilities. Secretary of State Marco Rubio stated that the Trump administration was tracking developments 'very closely' and that 'some of this is clearly the Iranian hand' behind the Houthis' actions.
Brent crude traded close to $100 per barrel following news of damage to Saudi oil facilities and renewed threats of Houthi attacks in the Red Sea. The Iranian regime threatened to extend its grip beyond the narrow waterway, stating it would announce a restricted exclusion zone outside the Strait of Hormuz.