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US forces launched a fresh wave of strikes on Iran for the thirteenth consecutive day early on Friday after President Donald Trump vowed “major military punishment” for Tehran and its Houthi allies over attacks on two Saudi oil tankers in the Red Sea by the Yemeni rebels.
The Houthi rebels, who control northern and western Yemen, said this week they were imposing a naval blockade on Saudi Arabia, which has diverted millions of barrels of oil per day by pipeline to the Red Sea to get around Iran’s blockade of Gulf oil through the Strait of Hormuz.
Now, attacks in the Red Sea have extended the Middle East war to a second major shipping chokepoint. Fears that the disruption could widen to block another sea route sent global oil prices surging in one of the steepest rises of the war, which began with US-Israeli attacks on Iran in late February.
Brent crude rose more than six per cent on Thursday, piercing the level of $100 a barrel for the first time since May. Early on Friday, Brent futures eased 72 cents, or 0.72pc, to $99.97 a barrel as of 0126 GMT, but remained on course for a 13.5pc advance this week.
