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US Strikes Escalate Tensions with Iran Amid Crude Price Surge

Guavy AI Editorial Team
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The United States launched fresh strikes on Iran after Tehran-backed Houthi rebels attacked oil tankers in the Red Sea, escalating tensions that pushed crude prices past $100 a barrel for the first time since May.

The US military confirmed that the Strait of Hormuz remains 'open for transit' despite Iranian attacks. However, the Houthis have opened a new front in the war with strikes on vessels in the Red Sea, intensifying fears over global crude supplies.

President Donald Trump has vowed to use frozen Iranian assets to pay for any damage to shipping, while Tehran warned this would set an 'incendiary precedent.'

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