Brent Tops $96 as Houthis Strike Saudi Tankers in Red Sea, Opening New Front in Iran War
- Yemen's Houthis attacked two Saudi-flagged tankers (Encelia, Layla) with missiles/drones, causing a fire aboard Encelia; five Saudi tankers already diverted course after Houthi 'maritime embargo' declaration, threatening up to ~5M b/d of oil flows (Source: The National, Bloomberg).
- Brent crude jumped 2.6% to ~$96.49/bbl, a six-week high; WTI rose to ~$88.42. Goldman Sachs sees Brent potentially hitting $120/bbl by Q4 if supply disruptions persist.
- US completed 12th straight night of strikes on Iran; analysts warn of rare 'dual-strait' risk as both Bab el-Mandeb and Strait of Hormuz face simultaneous disruption, reigniting inflation fears ahead of ECB meeting.