Iran live updates: Oil prices rise after strikes in Saudi Arabia, Strait of Hormuz
Brent crude prices have shifted to approximately $100 a barrel as the Yemeni government launches a military campaign to remove Houthi forces from their final territories. Saudi-led coalition forces recently intercepted a Houthi ballistic missile targeting Khamis Mushait. Meanwhile, President Donald Trump and Israel are considering retaliatory actions against Iran following a thwarted terrorist attack on FlyDubai. Tensions remain high in the Red Sea, where Houthi allies continue to contest shipping lanes despite some recovery in Middle East oil exports.
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- ✓ Saudi-led coalition forces intercepted a Houthi ballistic missile targeting Khamis Mushait city.
- ✓ Brent crude oil is trading around $100 a barrel.
What changed
Saudi-led forces intercepted a ballistic missile at Khamis Mushait and the US is weighing retaliation for a thwarted FlyDubai attack.
Live updates
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Saudi forces intercept Houthi missile as US weighs Iran retaliation
Brent crude prices have shifted to approximately $100 a barrel as the Yemeni government launches a military campaign to remove Houthi forces from their final territories. Saudi-led coalition forces recently intercepted a Houthi ballistic missile targeting Khamis Mushait. Meanwhile, President Donald Trump and Israel are considering retaliatory actions against Iran following a thwarted terrorist attack on FlyDubai. Tensions remain high in the Red Sea, where Houthi allies continue to contest shipping lanes despite some recovery in Middle East oil exports.
Why it matters
The conflict centers on control of strategic shipping routes and the influence of Iran-backed Houthi militants. Previous diplomatic failures regarding the Strait of Hormuz and missile strikes on Saudi Arabia have volatile effects on global oil markets.
What is confirmed
- Saudi-led coalition forces intercepted a Houthi ballistic missile targeting Khamis Mushait city.
- Brent crude oil is trading around $100 a barrel.
Still unconfirmed
- The Yemeni government is conducting a full-on military campaign to root out Houthi terrorists from their final territory.
What to watch next
- Official US or Israeli announcement of retaliatory strikes against Iran
- Confirmation of the Yemeni government's progress in reclaiming Houthi-held territories
- Updated oil flow data for the Strait of Hormuz and Red Sea lanes
confidence 80%Sources used for this update (8)
- www.oilpricelive.com — Iran War Timeline - Oil Price Impact | Oil Price Live
- www.timesnownews.com — US-Iran War Live Updates: Hormuz Crisis Escalates: Iran Refuses to Reopen Strait, Sets 7 Conditions for US
- www.foxnews.com — Yemeni government counters Iran-backed Houthis as Middle East oil exports recover
- www.cbsnews.com — Battle with Iran-backed Houthis in Yemen tempers news on oil ...
- economictimes.indiatimes.com — Breaking News Live Updates: FSSAI orders intensified festive food safety checks, inspections and on-the-spot testing
- jen.jiji.com — Media, Macron to gather several ministers this evening at the Élysée
- jen.jiji.com — Businesses from seven countries to gather in Bishkek on Oct 15
- www.aljazeera.com — Iran war live: Saudi-led forces down Houthi missile as Yemen fighting rages
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Oil prices rise as Houthi strikes hit Saudi Arabia and US-Iran talks stall
Oil prices jumped to a one-week high, with Brent crude reaching between $106.50 and $108 per barrel, following Houthi missile strikes on Saudi Arabia and a diplomatic stalemate. President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz, which would have occurred on the sixth day of a seven-day plan. While oil flows through the strait have recovered to 13.1 million barrels per day, fuel shipments remain constrained. Iran's Revolutionary Guard Corps has since issued a 26-page open letter appealing to American voters ahead of the midterm elections.
Why it matters
The conflict has reached the seven-month mark, centering on the Strait of Hormuz, a critical maritime chokepoint. The US maintains a military blockade to cut off Iranian finances, while Tehran seeks sanctions relief and access to frozen assets. This tension directly impacts global energy stability and US domestic politics.
What is confirmed
- Brent crude prices rose more than 3 percent to top $107 a barrel.
- President Donald Trump rejected Iran's seven-day plan to reopen the Strait of Hormuz.
- Oil and petroleum product flows through the Strait of Hormuz averaged 13.1 million barrels per day last week.
- The Iranian Revolutionary Guard Corps sent an open letter to American voters asking them to stop their government.
- Houthi missiles targeted Saudi Arabia, reviving global supply fears.
Still unconfirmed
- A US official told CNN that Trump is willing to give sanctions relief if Tehran shows concrete progress on the nuclear issue.
What to watch next
- Formal response from Washington to diplomatic messaging passed through Qatar
- Evidence of sustained recovery in fuel shipments through the Strait of Hormuz
- Potential US military strikes on Iran prior to the midterm elections
confidence 90%Sources used for this update (30)
- hormuz.report — hormuz.report — Strait of Hormuz Crisis Dashboard
- investinglive.com — Oil jumps to one-week high as Houthi strikes on Saudi Arabia outweigh Hormuz deal hopes
- www.aljazeera.com — Iran war live: Tehran vows not to back down as Trump rejects Hormuz plan
- www.timesnownews.com — Iran-US War LIVE Updates: No Talks, Seven Conditions: Iran Rules Out US Negotiations Over Strait of Hormuz
- political.org — Iran War: Strait of Hormuz Live Tracker — Political.org
- www.cbsnews.com — Live Updates: Iran says Trump must choose between war or...
- finance.yahoo.com — Oil prices swing as Houthis claim strike on Saudi Arabia, US ...
- jen.jiji.com — M4.8 earthquake strikes Yemen
- www.foxnews.com — Crude oil prices slide after Iranian and US negotiators ...
- www.aljazeera.com — Iran touts Hormuz attacks as oil flows increase despite ...
- www.profarmer.com — First Thing Today | Soybeans lead grains lower on Trump-Xi summit disappointment
- www.aljazeera.com — Oil prices surge after Trump rejects Iran’s plan to reopen ...
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Trump Rejects Iran Roadmap to Reopen Strait of Hormuz
United States President Donald Trump has rejected an Iranian proposal for a seven-day roadmap aimed at ending the war, reopening the Strait of Hormuz, and resuming nuclear talks. Speaking outside the White House before traveling to Tennessee, Trump stated that the United States maintains the greatest military blockade in history, describing it as a wall of steel that has cut off Iranian finances. Meanwhile, Tehran awaits a formal response from Washington following diplomatic messaging passed through Qatar at the United Nations General Assembly in New York.
Why it matters
Qatar previously acted as an intermediary at the United Nations General Assembly to pass messages between Washington and Tehran regarding the closed shipping lane. The military blockade remains a central pillar of the United States strategy, with 29 vessels managing to cross the strait overnight according to presidential statements. Saudi Arabia has separately condemned Iran and the Houthis while urging stronger protection for Gulf shipping routes.
What is confirmed
- US President Donald Trump rejected Iran's proposal for a seven-day roadmap to end the war, reopen the Strait of Hormuz, and resume nuclear talks.
- Donald Trump stated outside the White House that the United States established a wall of steel blockade and that 29 ships crossed the strait overnight.
- Iran previously proposed the seven-day plan while messages were passed by Qatar at the United Nations General Assembly.
Still unconfirmed
- Tehran reportedly vows to pursue Donald Trump and Benjamin Netanyahu even after the war ends.
What to watch next
- Whether Tehran issues a formal response or alters military actions following the rejection of its proposal
- Developments in Gulf shipping security and protection measures urged by Saudi Arabia
confidence 100%Sources used for this update (4)
- timesofindia.indiatimes.com — US Iran War Live Updates: ‘We will not spare them’: Iran vows to pursue Trump, Netanyahu even after war ends
- jen.jiji.com — Trump rejects Iran's proposal to reopen Strait of Hormuz within 7 days
- gulfnews.com — US-Iran war: Tehran awaits response as Trump rejects Hormuz plan; Saudi Arabia condemns Iran and Houthis
- jen.jiji.com — At least 10 missing after avalanche hits Himlung Himal peak in Nepal
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Iran offers 7-day plan to reopen Strait of Hormuz as IRGC downs US drone
Iran proposed a deal to reopen the Strait of Hormuz and resume nuclear talks within seven days if the United States lifts its naval blockade and waives sanctions. The Iranian president expressed a desire to reach an agreement before the November midterm elections. Simultaneously, the Islamic Revolutionary Guard Corps (IRGC) claimed its aerospace forces destroyed a US MQ-1 drone over the Strait of Hormuz. Oil prices declined as traders reacted to signs that negotiations to reopen the energy shipping route are progressing.
Why it matters
The diplomatic push follows the first US-Iran negotiations since June and threats from President Donald Trump to annihilate the Islamic Republic. The conflict has lasted nearly seven months, causing volatility in global oil markets. The Strait of Hormuz remains a critical chokepoint for global energy supplies.
What is confirmed
- The IRGC claims its aerospace forces identified and destroyed a US MQ-1 drone over the Strait of Hormuz.
- Iran offered to reopen the Strait of Hormuz in seven days if the US lifts its naval blockade and waives sanctions.
- The Iranian president seeks a deal with the US before the November midterm elections.
- Oil prices fell due to tentative signs of progress in talks to reopen the Strait of Hormuz.
Still unconfirmed
- Araghchi stated the proposal follows a June memorandum of understanding and was delivered via intermediaries.
What to watch next
- US response to the seven-day proposal
- Verification of the MQ-1 drone loss by the US military
- Changes in oil prices following formal diplomatic replies
confidence 90%Sources used for this update (7)
- www.timesnownews.com — US-Iran War Live Updates: Iran's IRGC Issues Fresh Warning, Says War 'Not Over'
- www.cbsnews.com — Iran War Updates: Tehran proposes 7-day plan to reopen Strait of Hormuz as it seeks deal before U.S. midterms
- finance.yahoo.com — MARKETS LIVE: Dow gains as investors watch bonds, oil
- www.livemint.com — Oil Declines as Traders Weigh US, Iran Hormuz Talk Progress
- www.news8000.com — Iran proposes a deal to reopen the Strait of Hormuz in 7 days if the US meets its conditions
- www.news8000.com — Intelligence from Chinese groups aiding in Iran’s increasingly effective targeting of US sites, sources say
- www.wionews.com — Latest News India and World LIVE Updates: Trump-Xi summit, Iran's proposal to end war and more
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U.S. and Iran Hold First Talks Following Trump Threats
American and Iranian delegations met on the sidelines of the United Nations General Assembly for their first negotiations since June. The diplomatic contact occurred shortly after President Donald Trump used his address to the UN General Assembly to threaten the Islamic Republic with annihilation if a deal is not reached to end the nearly seven-month war. Oil prices have experienced volatility amidst the ongoing conflict affecting the Strait of Hormuz and Saudi Arabia.
Why it matters
The resumption of bilateral talks marks a sudden diplomatic shift following intense military escalation and threats from Washington. These discussions follow President Trump's UN address warning of annihilation and come while energy markets react closely to security disruptions in the Middle East, including previous Houthi attacks.
What is confirmed
- U.S. and Iranian delegations met on the sidelines of the U.N. General Assembly.
- President Donald Trump stated that U.S. and Iranian officials met Tuesday.
- President Trump threatened to annihilate the Islamic Republic if a deal is not reached to end the nearly seven-month war.
What to watch next
- Further official statements or readouts regarding the outcome of the U.S. and Iran negotiations
- Subsequent movements in global oil prices and security conditions around the Strait of Hormuz
confidence 100%Sources used for this update (3)
- www.cbsnews.com — Iran War Updates: U.S. and Iran hold first talks since June after Trump threatens regime with annihilation
- jen.jiji.com — President Tokayev congratulates King of Saudi Arabia on National Day
- www.foxnews.com — Trump meets with Iranian officials shortly after threatening annihilation
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Trump warns Iran of annihilation before three-hour meeting at UN
President Donald Trump told the UN General Assembly that Iran is losing power during Operation Epic Fury and threatened to "annihilate" the Islamic Republic. Following this address, Trump stated that U.S. and Iranian officials met for three hours. Meanwhile, the UK is deploying an RAF Voyager aircraft to support Saudi Arabia against Houthi missile and drone attacks after Trump halted planned U.S. strikes. Oil prices slipped to $98.9 as markets anticipate potential talks between the two nations.
Why it matters
The region remains unstable following a Houthi blockade of Saudi Arabia and a projectile strike on a tanker in the Strait of Hormuz. This diplomatic friction occurs as the U.S. balances military threats with sudden negotiations. The British intervention fills a security gap left by the paused U.S. operation.
What is confirmed
- President Donald Trump told the UN that Iran is the "number one sponsor of terror" and is losing power during Operation Epic Fury.
- U.S. and Iranian officials met for three hours after Trump threatened to "annihilate" the Islamic Republic during his UN speech.
- Oil prices fell to $98.9 on September 22, 2026.
Still unconfirmed
- The UK approved an RAF Voyager aircraft to support Saudi Arabia amid Houthi attacks.
What to watch next
- Outcome of the U.S.-Iran diplomatic talks
- Further RAF deployments to Saudi Arabia
- Fed interest rate decisions regarding market hedges
confidence 90%Sources used for this update (5)
- www.thehindubusinessline.com — Sensex today | Stock Market Highlights: Sensex falls 330 pts, Nifty closes at 23,329; oil slips to $98.9 ahead of potential US-Iran talks
- www.foxnews.com — Trump tells UN he has 'big decision to make' in US-Iran war
- www.news8000.com — The Latest: Trump says US and Iran met for 3 hours after his threat during United Nations speech
- www.livemint.com — Traders Load Up on Hedges for Shallower Fed Rate-Hike Cycle
- news24online.com — UK backs Saudi Arabia after Trump pulls back, sends RAF aircraft to counter Houthi threat - Why is Britain stepping in?
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Trump weighs Iran peace demands as Houthi tensions rise
President Donald Trump is considering war-ending demands from Iran after returning from Camp David. While Trump previously ordered preparations for strikes against Iran-backed Houthis following a request from Saudi Crown Prince Mohammed bin Salman, he halted the operation by midday Sunday. Meanwhile, the British military reports an unknown projectile struck a tanker entering the Strait of Hormuz. In Yemen, Houthi leader al-Mashat declared a blockade against Saudi Arabia, demanding the reopening of ports and compensation from Riyadh. Oil prices have fallen for a fourth consecutive day despite the maritime attacks.
Why it matters
The conflict began in February with US and Israeli strikes and has entered its seventh month. Tensions center on the Strait of Hormuz, a critical corridor for global oil shipments. The US government has advised citizens to leave Iran immediately.
What is confirmed
- The British military reported an unknown projectile struck a tanker entering the Strait of Hormuz.
- President Donald Trump is reviewing potential war-ending demands from Iran.
- Oil prices have fallen for four consecutive days.
Still unconfirmed
- Houthi leader al-Mashat is seeking an end to a Saudi blockade and the restoration of Yemen's resources.
What to watch next
- Trump's upcoming trip to the UN
- Potential talks between Trump and Pezeshkian
- The outcome of the Trump-Xi summit from September 23-25
confidence 90%Sources used for this update (7)
- www.foxnews.com — Iran lays out demands to end war as Trump prepares for UN trip
- www.iranintl.com — Trump pulls back from strikes on Iran-backed Houthis after Saudi request - NYT
- timesofindia.indiatimes.com — US-Iran War Live Updates: US tells citizens to leave Iran immediately, warns of travel disruptions
- www.cbsnews.com — Live Updates: Iran warns "geography of the war" would expand in response to any new U.S. assault
- www.livemint.com — US stock market today: S&P 500, Nasdaq futures rise up to 1% as oil falls; Trump-Xi summit in focus
- www.iranintl.com — Iran-backed Houthi declares ‘blockade for blockade’ against Saudi Arabia
- www.clickondetroit.com — A projectile hits a tanker as it enters the Strait of Hormuz, and other Mideast developments
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Tankers Attacked in Hormuz as US-Iran War Enters Seventh Month
Two tankers face attacks in the Strait of Hormuz as the conflict between the United States and Iran reaches its seventh month, driving up oil prices and forcing Saudi Arabia onto high alert. President Donald Trump warns he is poised to make a big decision about whether to annihilate Iran's leadership. Meanwhile, Tehran claims responsibility for striking an oil tanker attempting to pass through the vital maritime corridor. The United Kingdom navy reports the tanker strikes, while Washington implements a new sanctions law targeting the shadow oil fleet and major buyers.
Why it matters
The war began on February 28, plunging global energy markets into turmoil as maritime chokepoints face mounting security threats. Although oil prices remain elevated due to Houthi actions along the Red Sea coast and fresh strikes in the Strait of Hormuz, severe doomsday price spikes have been avoided. President Trump previously claimed Tehran wants to make a deal, creating a complex diplomatic backdrop to ongoing military escalations.
What is confirmed
- President Donald Trump stated that his next move could be to annihilate Iran's leadership.
- Two ships were attacked in the Strait of Hormuz, according to the U.K. navy.
- President Donald Trump signed a new law expanding sanctions on Russia and Iran that targets the shadow oil fleet and major buyers.
Still unconfirmed
- Tehran claims it successfully struck an oil tanker trying to transit the Strait of Hormuz.
- Tehran claims American military losses in the ongoing war exceed what the Pentagon has disclosed.
What to watch next
- Any official confirmation from the Pentagon regarding American military casualty figures
- Further actions by the U.K. navy or international coalitions to secure traffic in the Strait of Hormuz
- Implementation and enforcement impacts of the new U.S. sanctions law on Russian and Iranian shadow oil fleets
confidence 95%Sources used for this update (6)
- www.cbsnews.com — Iran War Updates: 2 ships attacked in Strait of Hormuz as Trump says next move could be to "annihilate" regime
- timesofindia.indiatimes.com — US-Iran War Live Updates: US troop deaths in Iran war more than what Pentagon disclosed - report
- www.clickondetroit.com — Iran claims it struck an oil tanker in the Strait of Hormuz, and other Mideast developments
- note.com — [Morning Edition] September 19 (Sat) 20 Business & Market News Highlights | BOJ Raises Rates to 1.25% for First Time in 31 Years, Yen at 157, Buffett Steps Down as C…
- gulfnews.com — Trump signs Russia-Iran sanctions law; Saudi Arabia on alert amid Houthi threat
- www.clickondetroit.com — Oil prices are high but could be much worse. Trump has China's Xi to thank for that
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Trump reports direct talks with Tehran as Houthi offensive threatens oil exports
President Donald Trump says the war with Iran, which began February 28, is hopefully nearing an end. Trump claims he has spoken directly with Tehran and asserts that Iranians want to make a deal. This diplomatic signal arrives as Iran-backed Houthi rebels in Yemen seize much of the Red Sea coast. The Houthi offensive has reached a key maritime chokepoint, creating new threats to Saudi Arabian oil exports and rattling global markets. Meanwhile, the House Speaker has vowed that Tehran will not acquire a nuclear weapon.
Why it matters
The conflict has already driven global oil prices above $100 per barrel due to infrastructure damage. U.S. lawmakers recently passed a war powers resolution regarding the engagement. The strategic control of Red Sea shipping lanes by Houthi forces complicates efforts to stabilize energy prices.
What is confirmed
- The war between the United States and Iran began on February 28.
- President Donald Trump has spoken directly with Tehran.
- Houthi rebels in Yemen have seized a significant portion of the Red Sea coast.
- Houthi advances now threaten Saudi Arabian oil exports.
Still unconfirmed
- President Trump is considering resuming large-scale attacks to annihilate Iran.
- The House Speaker has vowed Tehran will not get a nuclear weapon.
What to watch next
- Confirmation of a formal deal between the U.S. and Iran
- Changes in oil prices following Houthi control of the maritime chokepoint
confidence 90%Sources used for this update (6)
- www.timesnownews.com — Iran-US War Live: Trump Claims Direct Talks With Tehran, Says Conflict ‘Hopefully’ Nearing End
- www.foxnews.com — Trump says Iran war 'hopefully' nearing end as House Speaker vows Tehran won't get nuclear weapon
- www.yahoo.com — What to know after a week of Houthi attacks that threaten Saudi oil and have rattled world markets
- timesofindia.indiatimes.com — Houthis, Saudis, Iran - and the future of Middle Eastern oil
- timesofindia.indiatimes.com — 'Do I want to annihilate them?' Trump weighs next phase of Iran war
- www.yahoo.com — Opinion - Trump had to crush Iran instead of making deals. He didn’t — now he pays the price
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House passes Iran war powers resolution as oil exceeds $100 per barrel
The U.S. House of Representatives passed an Iran war powers resolution with 220 votes, including 213 Democrats and seven Republicans. Global oil prices have surpassed $100 per barrel following infrastructure disruptions and threats to energy routes. In Yemen, Iran-backed Houthi rebels have advanced down the west coast, gaining control of a strategic strait. Meanwhile, Iranian Foreign Minister Abbas Araghchi stated that a new regional order must exclude foreign forces, while President Pezeshkian pledged government support for the armed forces in national defense.
Why it matters
Rising energy costs and bond yields have already pressured stock averages. These developments follow refinery disruptions at Yanbu and Houthi attacks in the Red Sea. The U.S. is currently weighing its military authority as regional instability threatens global fuel supplies and inflation.
What is confirmed
- Seven Republicans and 213 Democrats voted to pass an Iran war powers resolution in the House of Representatives.
- Rep. Nancy Mace, Rep. Mariannette Miller-Meeks, and Rep. Zach Nunn were among the Republicans who voted in favor of the resolution.
- Global oil prices have crossed $100 per barrel.
- Iran-backed Houthi rebels moved down the west coast of Yemen this month.
- Foreign Minister Abbas Araghchi said a new regional order should exclude foreign forces.
What to watch next
- U.S. Senate response to the House war powers resolution
- Further movement of Houthi forces toward key Yemeni cities
- Official response from the U.S. to Araghchi's demand to exclude foreign forces from the region
confidence 100%Sources used for this update (4)
- abcnews.com — Houthis' Yemen gains put control of strategic strait, key cities in focus
- www.foxnews.com — 3 more Republicans back Iran war powers resolution; new report details brutal regime crackdown
- tribune.com.pk — Iran's Araghchi says new regional order should exclude foreign forces
- news24online.com — World heading towards ‘Great Fuel Crisis’? Experts sound alarm as oil crosses $100/barrel? Will petrol and diesel prices increase in India?
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Iran Rejects US Talks as Saudi Refinery Stops Crude Loadings
Tehran refuses to return to negotiations with the United States unless conditions in the Strait of Hormuz are met. Meanwhile, crude loadings at Yanbu have stopped following refinery disruptions, according to sources speaking on Tuesday. Saudi Arabia's crown prince is seeking backing from Egypt's president as Houthi attacks rattle Red Sea oil routes and a drone is shot down near Mecca. Stock averages previously closed lower due to rising energy costs and bond yields, while President Donald Trump stated he expects the war to end this year.
Why it matters
The conflict has disrupted global energy markets, sending crude prices jumping more than $3 and pushing diesel to an all-time high after pipeline and refinery operations were halted. Saudi infrastructure faces continuous threats from Houthi rebels alongside a tanker strike in the Strait of Hormuz. Regional diplomacy intensifies as the Saudi leadership seeks external support to secure crucial shipping corridors.
What is confirmed
- Tehran will not return to the negotiating table with the United States unless Strait of Hormuz conditions are met.
- Crude loadings at Yanbu have stopped.
- Saudi Arabia is seeking backing from Egypt as the kingdom faces increased attacks by Yemen Houthi rebels.
Still unconfirmed
- New photos show burning US bases hit by Iranian strikes.
What to watch next
- Developments regarding the conditions set by Iran for the Strait of Hormuz
- Potential diplomatic agreements between Saudi Arabia and Egypt concerning Red Sea security
- Further updates on the status of Yanbu crude loadings and regional oil supply routes
confidence 90%Sources used for this update (4)
- www.foxnews.com — Iran rejects new US talks unless Strait of Hormuz conditions are met
- www.yahoo.com — Iran live updates: Sticker shock woes rise after Saudi refinery stops crude loading
- www.nine.com.au — LIVE updates: New photos show burning US bases hit by Iranian strikes
- abcnews.com — Saudi crown prince seeks Egypt’s backing as Houthi attacks rattle Red Sea oil routes
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Oil Prices Surge After Strikes on Saudi Arabia and Strait of Hormuz
Crude prices jumped more than $3 and diesel hit a new all-time high following drone attacks that shut down Saudi Arabia's East-West pipeline. The energy supply disruption intensified as Houthi rebels targeted Saudi infrastructure and a tanker was struck in the Strait of Hormuz amid ongoing conflict involving Iran. Major stock averages closed lower due to the pressure from higher energy costs and bond yields. President Donald Trump stated that he expects the war to end this year and noted the U.S. remains open to a deal.
Why it matters
The attacks on critical Middle Eastern energy infrastructure immediately threaten global export routes and pinch supplies. Analysts warn that oil markets are now built for sharper and more frequent price spikes. Meanwhile, diplomatic efforts stalled as Oman postponed a planned regional meeting between Iran and Gulf states.
What is confirmed
- Oil prices jumped more than $3 after new strikes on Saudi Arabia and the Strait of Hormuz.
- Diesel prices pushed to a new all-time high following the shutdown of a key Saudi pipeline.
- Rebel Houthis in Yemen targeted oil infrastructure and captured a strategic island in the Bab al-Mandab strait.
- Oman postponed a planned Iran-Gulf regional meeting.
Still unconfirmed
- Houthi rebels claimed direct hits on King Khalid Air Base after Saudi strikes.
What to watch next
- Reopening status of the Saudi East-West pipeline
- Developments regarding China's role in determining future oil market movements
- Potential U.S. engagement decisions regarding Iran
confidence 95%Sources used for this update (15)
- CNBC — Oil's roundtrip back to $100. Why China could determine what happens next
- Reuters — Oil prices jump more than $3 after new strikes on Saudi, Strait of Hormuz
- Crude Oil Prices Today | OilPrice.com — StanChart Warns Oil Is Now Built for Sharper, More Frequent Spikes
- timesofindia.indiatimes.com — US-Iran War Live Updates: 'In interests of consesus' - Iran's regional meeting with Gulf states postponed
- ABC News - Breaking News, Latest News and Videos — Iran live updates: Oil prices rise after strikes in Saudi Arabia, Strait of Hormuz
- The New York Times — Oil Prices Jump on Energy Supply Worries
- WSJ — Oil Prices Rise as Saudi East-West Pipeline Attack Threatens Export Routes
- NBC News — Diesel prices push to new all-time high as oil prices jump after key Saudi pipeline shut
- www.theguardian.com — Oil prices rise after drone attacks shut down Saudi Arabia’s East-West pipeline
- www.timesnownews.com — Iran-US War LIVE Updates: Houthi Rebels Claim ‘Direct Hits’ On King Khalid Air Base After Saudi Strikes
- www.foxnews.com — US Air Force colonel shot down over Iran recounts 'modern-day miracle'
- www.cnbc.com — Stock futures are little changed as traders eye rising oil prices and rates: Live updates
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