Houthis strike two Saudi oil tankers in the Red Sea; Trump warns Iran of 'major military punishment'
24 July 2026 | 3 months ago
Yemen's Houthis said on Thursday, 23 July (1 Mordad), that they had targeted two Saudi oil tankers with drones and missiles in the Red Sea, the group's first direct strike on Saudi shipping since its declared maritime blockade took effect. The Houthis said the two vessels, the Encelia and the Layla, had violated the blockade.
US President Donald Trump responded that if such attacks recur the US will hold Iran responsible, calling the Houthis a Tehran proxy, and that "major military punishment" would be inflicted on Iran and the Houthis themselves. The move opened a new front in the US-Iran war; Brent crude jumped about 6% on Thursday, briefly topping $100 a barrel for the first time since May.
More from this market
Strait of Hormuz tanker crossings fall to lowest since May 7; only one tanker crossed Thursday
The National | 3 months agoBrent Crude Pulls Back as Much as 4.3% Friday After Topping $100
Fortune | 3 months agoKazakhstan Halts Black Sea Oil Exports and Cuts Output After Drone Attacks
The Moscow Times | 3 months agoIraq Says the Regional War Has Cost It More Than $40 Billion in Lost Revenue
Arab News | 3 months ago
