U.S. President Donald Trump has promised "major military punishment" for Iran and its Houthi allies, following a fresh wave of attacks on commercial shipping in the Red Sea.
The escalation comes after Yemeni fighters struck two Saudi oil tankers, marking a significant expansion of the conflict’s reach into critical energy transit routes.
Brent crude surged past the $100 per barrel threshold, reflecting investor anxiety over potential disruptions to global oil supplies.
Trump’s comments signal a decisive shift in U.S. policy, moving from diplomatic pressure to the threat of direct kinetic action against Iranian-backed militias.
The market reaction was immediate and severe.
Brent crude surged past the $100 per barrel threshold, reflecting investor anxiety over potential disruptions to global oil supplies.
The spike underscores the vulnerability of Red Sea shipping lanes, which handle a substantial portion of global energy trade.