The Iranian-aligned Houthis said they struck two Saudi oil tankers as part of a naval blockade on Saudi Arabia.

On Tuesday, oil prices surged nearly two percent amid escalating tensions between the United States and Iran. The situation was further complicated by threats from Yemens Houthis…

Oil prices rose to five-week highs as escalating U.S.-Iran hostilities and mounting threats to key Middle East shipping routes heightened fears of supply disruptions.

Oil prices hit a 6-week high amid US-Iran tensions. New all-time high by December 31 at 15.5% YES.