Oil Prices Surge Amid Escalation in Middle East Conflict Oil prices rose sharply on Monday as tensions escalated in the Middle East, with Yemen’s Iran-backed Houthis launching missile strikes against Israel and U.S. President Donald Trump issuing threats against Iran’s oil infrastructure. The developments have intensified fears of further disruptions to global energy markets, driving up prices for both Brent and West Texas Intermediate (WTI) crude. International benchmark Brent crude futures for May delivery climbed 2.07% to $114.90 per barrel, while U.S. WTI futures gained 1.37% to $101.01. This marks a significant rebound for Brent, which has surged over 55% in March, setting the stage for its steepest monthly rise on record. Analysts warn that prolonged instability in the region could push prices even higher, with some forecasts suggesting crude could reach $150 per barrel in April if supply disruptions persist. Trump’s comments on Monday added to the volatility, as he warned Iran that the U.S. would destroy its oil wells, power plants, and Kharg Island unless the Strait of Hormuz was reopened. In an interview with the Financial Times, the president likened his approach to the U.S. intervention in Venezuela, where Washington effectively took control of the country’s oil sector after the capture of its leader, Nicolás Maduro. His remarks came as the conflict between U.S.-backed Israel and Iran entered its fifth week, with attacks spreading across the region and heightening risks to critical energy infrastructure. The Houthis’ involvement in the conflict marked a new phase in the crisis. The group, which has long been supported by Iran, claimed on Saturday that it had launched a barrage of ballistic missiles at Israeli military targets.#yemen #iran #donald_trump #strait_of_hormuz #houthi
War in Middle East Intensifies with First Strike from Yemen Israel’s military confirmed that Yemen had launched a missile toward the country early Saturday, marking the first time the nation faced direct fire from Yemen. Sirens sounded around Beer Sheba and near Israel’s main nuclear research center as Iran and Hezbollah continued to strike Israeli targets overnight. The Houthis, a rebel group backed by Iran, have controlled Yemen’s capital, Sanaa, since 2014. They did not immediately acknowledge the attack, which followed years of an uneasy ceasefire with Saudi Arabia, which has waged a war against the group since 2015. The Houthis had previously avoided direct involvement in the broader Middle East conflict, focusing instead on attacks on commercial vessels in the Red Sea. These strikes disrupted global shipping, which previously handled over $1 trillion in goods annually. The rebels also targeted Israeli military sites with drones. Meanwhile, Israel struck Iran’s nuclear facilities hours after threatening to escalate its campaign against Tehran. Iran vowed retaliation, striking a U.S. military base in Saudi Arabia and wounding American troops. Houthis’ military spokesman, Brig. Gen. Yahya Saree, outlined conditions under which the group might join the war, including continued Iranian aggression against the “Axis of Resistance.” This potential involvement raises concerns about renewed attacks on Red Sea shipping, which has already faced disruptions from Iran’s control of the Strait of Hormuz. The Houthi rebels previously damaged over 100 vessels, sinking two and killing four sailors, from November 2023 to January 2025. Iran’s recent agreement to allow humanitarian aid through the Strait of Hormuz, announced by its UN ambassador, aimed to ease global supply chain issues.#yemen #iran #hezbollah #houthi #sanaa
Iran War Oil Crisis: After Hormuz, Iran Threatens To Block Strategic Bab al-Mandeb Strait Iran has warned that it will block the Bab al-Mandeb Strait—a critical waterway linking the Red Sea and Gulf of Aden—if the United States or Israel escalates the conflict by attacking its islands, including Kharg. This follows Tehran’s ongoing blockade of the Strait of Hormuz, through which a fifth of the world’s oil typically flows. A disruption of the Bab al-Mandeb, which handles about 12% of global seaborne oil, could intensify the economic fallout of the Middle East crisis. Iranian state media reported that the Islamic Revolutionary Guard Corps has threatened to open “new fronts” to counter any attacks on its islands or naval movements in regional waters. The statement, cited by Tasnim News Agency, warned that such actions would not only fail to benefit the aggressors but would also “double their costs.” The strait’s strategic importance lies in its role as a gateway to the Suez Canal, making it a vital artery for global trade. The semi-official Fars News Agency added that Iran-backed Houthis in Yemen may join the conflict against U.S. and Israeli forces to help Tehran secure control of the Bab al-Mandeb. The Houthi group, which has previously disrupted Red Sea shipping by attacking vessels in retaliation for Israel’s actions in Gaza, is described as “fully prepared to play a skillful role” in the region. Iran has long supported the Houthis, leveraging their presence to challenge Western and Israeli influence. Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, warned that Tehran has intelligence suggesting enemies are planning to seize one of its islands, possibly Kharg, with assistance from a regional country.#iran #strait_of_hormuz #mohammad_bagher_ghalibaf #bab_al_mandeb_strait #houthi
