US President Donald Trump vows to punish Iran for Houthi attacks in Red Sea
US President Donald Trump said that the US would hold Iran responsible for the Houthis’ actions and warned that Iran and its Houthi allies would both soon receive a “major military punishment,” Reuters reported on Thursday.
The remarks came after Yemen’s Iran-backed Houthi rebels struck two Saudi oil tankers in the Red Sea, extending the Middle East war to a second major shipping chokepoint.
The Houthis said that 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.
Market reaction
Crude oil prices attract some buyers following these headlines. At the time of writing, the West Texas Intermediate (WTI) is up 5.65% on the day at $90.77. Brent crude oil climbs more than 6%, breaking through $100 a barrel for the first time since May.
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