Global crude oil prices jumped over 2 per cent after Iran-backed Houthi militants claimed attacks on two Saudi oil tankers in the Red Sea. The escalation heightened fears of supply disruptions, pushing Brent above $96 a barrel and raising inflation concerns for oil-importing countries
US President Donald Trump accused Iran of violating a ceasefire in the Strait of Hormuz and warned of sweeping military retaliation if negotiations fail. He announced that American representatives would travel to Islamabad for talks, even as reports indicated that tanker traffic in the strategic waterway had nearly halted.
Despite conflict, nearly 90 ships have crossed the Strait of Hormuz as Iran sustains oil exports amid selective restrictions. “Dark” vessels and diplomatically cleared ships continue transit, while tensions involving Donald Trump keep global energy markets volatile
