By Elwely Elwelly, Ahmed Elimam and Eman AbouhassiraDUBAI, July 23 (Reuters) - U.S. President Donald Trump promised on Thursday "major military punishment" for Iran and its Houthi allies, after the Yemeni fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East war to a second major shipping chokepoint.The prospect that disruption could widen to a second sea sent global oil prices surging in one of the steepest rises of the war. Brent crude rose more than 6%, breaking through $100 a barrel for the first time since May.

Meanwhile, US President Donald Trump vowed that Iran would “pay” for killing three US soldiers, despite signs that Tehran and Washington want to resume diplomacy.

US President Donald Trump vowed that Iran would “pay” for killing three US soldiers despite signs Tehran and Washington want to resume diplomacy, even as a potential new front in…

Houthi threats, Iranian strikes and a Hormuz standstill send oil surging as the US-Iran conflict enters its 10th day.

Houthi attacks are expanding the Middle East conflict into the Red Sea, forcing tankers to reroute and pushing Brent above $91 amid growing fears of prolonged supply disruptions.

In another escalation, the US president said American forces would broaden bombing to a nuclear site called Pickaxe Mountain, 220 kilometres south of Tehran.

US President Trump plays down prospect of peace talks with Tehran and threatens to blow up Iranian nuclear sites

By Ahmed Tolba, Yomna Ehab and Michael MartinaDUBAI/MANILA, July 22 (Reuters) - U.S. President Donald Trump vowed on Wednesday to destroy an Iranian bridge or power plant every…

The Houthis previously said they struck Saudi oil tankers in the Red Sea days after declaring a blockade of the Bab al-Mandeb Strait.

The escalations intensify the risk of further pressure on global oil supply and prices.

The attack on ships in the Red Sea threatened to expand the conflict and severely impact global oil supplies already hobbled by the blockade of the Strait of Hormuz.

Oil prices rose after U.S. President Donald Trump threatened to bomb Iranian infrastructure in response to any attacks on ships transiting the Strait of Hormuz.

Houthi militants claimed strikes on two Saudi oil tankers, raising Red Sea shipping risks. The United States launched new strikes on Iran, marking a twelfth successive night of…

By Yomna Ehab and Enas AlashrayCAIRO, July 23 (Reuters) - The Iranian-aligned Houthis said on Thursday they struck two Saudi oil tankers as part of a naval blockade on Saudi…

US attacks on Iranian targets continued for 12th straight night with no sign of let up in the conflict

Five tankers have rerouted to avoid Bab el-Mandeb as fears grow that Red Sea disruptions could further raise oil prices, impact shipping routes, and strain US military resources.

Houthi militant attack on Saudi Arabian tankers threatens deeper supply disruptions

The Iran-backed group has fired on two oil tankers in the Red Sea as the US president warns Iran that any more attacks on ships in the Strait of Hormuz will be met with US strikes…

Live, rolling coverage of business, economics and financial markets as traders fear attacks from Yemen and Iran creating ‘two-chokepoint problem’

Houthi militia attacked two Saudi Arabian oil tankers in a military operation, the group said on Thursday.

The Iran-backed rebels said they had targeted two Saudi tankers, the Encelia and the Layla.