Houthi Strikes Send Oil Prices Soaring as Iran-Iran Conflict Escalates
Escalating tensions in the Middle East have pushed oil prices to nearly $100 per barrel, following Houthi strikes on Saudi oil facilities that injured 73 civilians. The attacks have sparked warnings from the Saudi Ministry of Foreign Affairs and condemnation from US Secretary of State Marco Rubio.
Rubio stated that 'some of this is clearly the Iranian hand,' implying that Iran is behind the Houthi militia's actions. This assessment comes as the US Treasury announced new sanctions targeting the Iranian aviation industry, with a warning to those doing business with Iran's remaining airlines: they risk being cut off from the global financial system.
The Iranian regime has threatened to extend its grip beyond the Strait of Hormuz, and Iranian Supreme National Security Council Director Mohsen Rezaei announced plans for a restricted exclusion zone outside the strait. This move is seen as a response to the US pressure campaign 'Operation Economic Outcast.'