Houthi Strikes Send Oil Prices Soaring as US Imposes New Sanctions on Iran
The conflict in the Middle East has escalated, pushing oil prices to nearly $100 per barrel. The Houthi militia in Yemen claimed responsibility for striking Saudi oil facilities, resulting in 73 civilian injuries, including women and children.
Secretary of State Marco Rubio stated that the Trump administration is tracking developments closely and believes 'some of this is clearly the Iranian hand' behind the attacks.
The Houthi military spokesperson Brig. Gen. Yahya Saree warned that their operations will continue until the aggression stops and the siege is lifted from Yemen.
The price of Brent crude has traded close to $100 per barrel following the news, while Iran's Supreme National Security Council Director Mohsen Rezaei threatened to extend its grip beyond the Strait of Hormuz and create a restricted exclusion zone in the Persian Gulf.
Additionally, the US Treasury announced new sanctions targeting the Iranian aviation industry as part of 'Operation Economic Outcast', with Treasury Secretary Scott Bessent warning that anyone doing business with Iran's remaining airlines is at risk of being cut off from the global financial system.