Oil Prices Back Above US$100 After Saudi Tankers Attacked in Red Sea
Oil prices have risen back above US$100 a barrel after Yemen's Houthi militants say they attacked two Saudi oil tankers in the Red Sea, effectively opening a new front in the war in Middle East by threatening another critical waterway while the Strait of Hormuz remains closed by Iran. US President Donald Trump said after the attacks there would be "major military punishment" for the Iran-allied Houthis as the US continued strikes against Iran.
Oil Prices Back to $100
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REPORTER:
Oil prices have risen back to $100 US dollars per barrel for the first time since May.
That’s after Houthi militants from Yemen struck two Saudi oil tankers in the Red Sea. Houthis have vowed to blockade shipments from Saudi Arabia, opening a new front to the war in the Middle East while the Strait of Hormuz remains closed off by Iran. US President Donald Trump promised "major military punishment" after the attack while strikes on Iran continue. Oil prices are up nearly 40 percent since the US and Israel launched the war on Iran in February.
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Iran War Oil Price Hike
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REPORTER:
Oil prices on Thursday jumped to US$100 per barrel, as the war in the Middle East intensifies.
That's the highest price since the US and Israel's war on Iran began. Yemen's Houthi rebels struck two tankers attempting to transit the Red Sea, another critical waterway that's emerged as an alternative to the Strait of Hormuz, which is controlled and closed by Iran. The US promised "major military punishment" and launched fresh strikes as hopes of a ceasefire dwindle.
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