Trump Open to Deal with Iran as Oil Prices Soar Following Middle East Strikes

Global oil prices rose on Monday following attacks in Saudi Arabia and the Strait of Hormuz. The strikes targeted military, government, and infrastructure sites in Iran.

The U.S. had launched a 'crushing economic operation' to force Tehran into submission, but President Donald Trump announced that he is open to negotiating a deal with Iran.

Iran's Foreign Ministry spokesperson Esmaeil Baqaei said the country does not interfere in Yemeni affairs and has no relations with what is unfolding in Yemen. However, analysts have attributed Iranian assistance for the growth in scale and sophistication of the Houthi ballistic missile and drone arsenals.

The Iran-backed Houthi rebels claimed to have launched a 'wide-scale military operation' targeting the King Khalid Air Base in southwestern Saudi Arabia, using dozens of ballistic missiles and drones.