Shibbir Ahmed, NEW YORK — The escalating war in the Middle East is threatening to deepen disruptions to global oil supplies as fresh attacks target shipping and energy infrastructure in Saudi Arabia and around the strategically vital Strait of Hormuz.

A vessel was struck by a projectile while transiting the Strait of Hormuz on Sunday, forcing its crew to evacuate after a fire broke out, according to the British maritime security agency UKMTO. An Iranian commercial vessel was also hit off Iran’s coast, killing one person and injuring four others, further raising concerns about the safety of commercial shipping in the region.

The latest incidents came after Saudi Arabia shut down its major East-West oil pipeline following a drone attack. The pipeline, which normally carries millions of barrels of crude per day to the Red Sea, has served as a critical alternative route while shipping through the Strait of Hormuz has been heavily disrupted.

Reuters reported Sunday that the pipeline outage could threaten as much as 4% of global oil supply if it is not restored within days. Saudi Arabia has not provided a detailed timeline for repairs, while traders and oil buyers have offered varying estimates for how long the disruption could last.

The supply concerns are being compounded by growing instability around another major maritime chokepoint, the Bab el-Mandeb Strait. Iran-aligned Houthi forces in Yemen have advanced along the Red Sea coast, increasing the risk of further disruption to oil and commercial shipping routes.

Global oil markets have already reacted sharply to the worsening situation. Brent crude has moved above $100 a barrel, while fuel prices have climbed as traders assess the possibility of prolonged disruptions to supplies from the Middle East. Reuters reported that U.S. diesel prices have also reached record levels.

The International Energy Agency has warned that global oil supply could decline by about 5.7 million barrels per day, or 6%, in 2026 because of the continuing conflict and disruptions in the Gulf. Saudi oil production has also fallen sharply from earlier levels.

The developments have raised fears that a prolonged conflict could push energy prices even higher, increasing transportation and production costs and adding to inflationary pressures around the world.

Diplomatic efforts to ease the crisis are continuing, but negotiations involving Iran and Gulf states over safe navigation through the Strait of Hormuz have faced delays. Iran has indicated that reopening the waterway would require concessions from the United States.

With both the Strait of Hormuz and Bab el-Mandeb facing heightened security risks, global energy markets are increasingly vulnerable to further attacks. Any prolonged disruption at both routes could have consequences well beyond the Middle East, affecting fuel prices, shipping costs, inflation and economic growth worldwide.

DUBAI: Yemen’s Iran-backed Houthi rebels on Sunday claimed they had launched a ballistic missile and drone attack on a Saudi military base as fighting between the Houthis and Saudi-backed Yemeni government forces intensified.

The Houthis said the attack targeted a military base in Saudi Arabia’s Sharurah area, according to reports. They described the operation as a response to Saudi airstrikes on Houthi-held areas of Yemen and warned of further attacks if the strikes continue.

The latest escalation comes as Houthi forces have made significant advances along Yemen’s Red Sea coast, including moves around the strategically important Bab al-Mandeb Strait. Saudi Arabia has carried out airstrikes in an effort to halt the Houthi advance, while Saudi-backed Yemeni government forces have launched counteroffensive operations.

The renewed fighting has raised concerns over regional stability and the security of the Bab al-Mandeb, a vital maritime chokepoint connecting the Red Sea with the Gulf of Aden. The escalation is also contributing to wider concerns over global energy supplies and shipping routes.

The Houthis’ claim of the Saudi base attack has not been independently verified, and Saudi authorities have not immediately confirmed the full extent of the reported damage or casualties. Reports, however, indicate that the conflict is entering a more dangerous phase as fighting intensifies across Yemen.

AMMAN/WASHINGTON DC — Iran fired a barrage of ballistic missiles toward a military base in Jordan used by U.S. forces on Wednesday, escalating an already widening confrontation with Washington following the destruction of five Iranian oil tankers by the United States.

Jordanian authorities said their air defenses intercepted 18 of the 20 Iranian missiles launched toward the kingdom. The remaining two missiles fell in unpopulated areas, according to Jordanian officials. A U.S. official said American military personnel in Jordan were accounted for following the attack. There were no immediate reports of U.S. casualties.

Iran said the missile attack was carried out in retaliation for recent U.S. military strikes against Iranian oil tankers. The Islamic Revolutionary Guard Corps has warned that Tehran will intensify its response to further American attacks.

The target was the Muwaffaq Salti Air Base near Al-Azraq in eastern Jordan, a strategically important facility that hosts U.S. military personnel and aircraft. The base has played a significant role in American military operations in the region.

The missile attack was part of a broader escalation on Wednesday. Iran also said it had attacked 10 vessels near the Strait of Hormuz, including oil tankers, after the United States destroyed five Iranian tankers. Washington has disputed Iranian claims that U.S. naval vessels were hit.

The latest exchange marks one of the most significant escalations in the six-month-old U.S.-Iran conflict. The confrontation has increasingly spread beyond Iran and the United States, drawing neighboring countries and international shipping into the crisis.

The Strait of Hormuz remains at the center of the escalation. The strategic waterway is one of the world’s most important routes for oil shipments, and renewed attacks on commercial vessels have raised fears of major disruptions to global energy supplies.

The developments have already shaken international energy markets. Brent crude rose sharply on Wednesday, with prices moving above the $100-a-barrel level amid fears that the fighting could disrupt oil production and shipping in the Gulf.

The United States has said its military operations against Iranian vessels were carried out in response to attacks by Iran’s Revolutionary Guard on an American warship. Iran, meanwhile, has threatened further retaliation and warned that the area of restricted maritime activity around the Strait of Hormuz could be expanded.

The latest missile attack on Jordan raises concerns that the conflict could increasingly involve U.S. military facilities and American allies across the Middle East, increasing the risk of a broader regional war.

With Iran threatening further retaliation and the United States continuing military operations against Iranian targets, governments across the region are closely monitoring the situation for signs of another major escalation.

Shibbir Ahmed, NEW YORK — Oil prices climbed above $100 a barrel on Wednesday as escalating tensions between the United States and Iran raised fresh concerns about disruptions to global energy supplies and shipping through the strategically vital Strait of Hormuz.

Brent crude, the international benchmark, rose above the $100 mark as investors reacted to the widening confrontation in the Middle East. The surge reflects growing fears that continued military escalation could threaten oil flows through the Strait of Hormuz, a critical route for global energy shipments.

The latest increase came amid heightened tensions following U.S. military action involving Iranian oil tankers and Iran’s subsequent missile attacks toward a U.S.-used military facility in Jordan.

The Strait of Hormuz has become a central focus of the crisis. A prolonged disruption in the waterway could have significant consequences for global oil markets because a substantial share of the world’s petroleum shipments passes through the narrow strategic corridor.

Higher crude prices are also raising concerns about renewed inflationary pressure. A sustained increase in energy costs could push up prices for gasoline, transportation and other goods, potentially complicating efforts by central banks to control inflation.

Financial markets have responded cautiously to the escalation. Investors are closely watching developments between Washington and Tehran for signs that the conflict could expand further or threaten critical energy infrastructure and shipping routes. The rise above $100 a barrel represents a major psychological threshold for global energy markets and underscores the economic risks posed by the widening U.S.-Iran confrontation.

Analysts say oil prices could remain volatile as long as uncertainty persists over the security of shipping through the Strait of Hormuz and the possibility of further military escalation in the region.

SHibbir Ahmed, WASHINGTON DC — Iran’s Islamic Revolutionary Guard Corps (IRGC) says it has captured a U.S. unmanned underwater vehicle near the entrance to the Strait of Hormuz, in the latest development in the escalating confrontation between Tehran and Washington.

Iranian state media identified the vessel as a Dive-LD, a large autonomous underwater vehicle manufactured by California-based defense company Anduril. The approximately 19-foot (5.8-meter) unmanned submersible is designed for missions including seabed mapping, mine detection, intelligence gathering and inspection of underwater infrastructure. The IRGC described the operation as a complex intelligence and military mission and claimed that Iranian forces had “trapped” one of the most advanced unmanned submarines operated by the United States.

However, the U.S. military gave a significantly different account of the incident. A Pentagon spokesperson acknowledged that a U.S. underwater drone had been lost, but said the vehicle had malfunctioned more than a day earlier while surveying regional waters in support of ongoing operations. According to the Pentagon, the drone was an older model and did not carry classified sonar or radar equipment or collect sensitive data.

Anduril also confirmed the loss of one of its underwater vehicles and emphasized that the Dive-LD was designed to operate in dangerous environments where losing the vehicle was considered a possibility.

Reuters said it could not independently verify Iran’s claim that it had captured the vehicle through a deliberate intelligence operation. The Dive-LD can reportedly operate for up to 10 days and is designed to reach depths of approximately 6,000 meters (19,700 feet). The system is part of the U.S. military’s growing use of autonomous underwater and surface vessels for surveillance, mine detection and other missions without putting American personnel directly at risk.

The incident comes as tensions around the Strait of Hormuz continue to rise. Commercial shipping through the strategic waterway has fallen sharply amid the ongoing U.S.-Iran confrontation, while oil prices have climbed above $100 a barrel amid fears of further disruption to global energy supplies.

TEHRAN — Iran’s Islamic Revolutionary Guard Corps said Wednesday that it launched a missile attack against a U.S.-linked military base in Jordan, escalating tensions after American forces destroyed five Iranian oil tankers. The latest exchange marks another sharp escalation in the six-month-old U.S.-Iran war, with the conflict increasingly threatening regional security and global energy supplies.

Iran said its missile strike targeted the Al-Azraq air base in Jordan, which hosts U.S. military assets. Iranian state media reported that the operation damaged maintenance and repair facilities, aircraft deployment areas and shelters. Those damage claims could not immediately be independently verified. Jordan’s military said it intercepted 18 ballistic missiles launched from Iran toward the kingdom. No casualties were immediately reported.

The Iranian attack came after U.S. forces destroyed five Iranian oil tankers on Tuesday. The U.S. military said the crews were ordered to abandon the vessels before they were struck. The operation followed an Iranian attack targeting a U.S. Navy warship. Iranian officials had previously warned that American military bases in the region would be targeted if Washington attacked Iranian oil tankers.

Iran has also threatened to target oil tankers operating near U.S.-allied Kuwait and Bahrain. The threats have heightened fears of further disruption to commercial shipping across the Persian Gulf and the Strait of Hormuz.

The strategic waterway has become a major flashpoint in the conflict. Shipping through the Strait of Hormuz has fallen sharply, raising concerns about global oil and gas supplies. Reuters reported Wednesday that only six commodity vessels transited the strait on Tuesday, well below the recent average.

The escalation has also pushed oil prices higher. Brent crude approached $100 a barrel on Wednesday, while U.S. West Texas Intermediate crude traded above $94 a barrel as markets assessed the risk of further supply disruptions.

U.S. Secretary of State Marco Rubio has warned that Washington will continue responding to Iranian attacks. The latest U.S. strikes on Iranian tankers were described by American officials as retaliation for attacks on U.S. naval forces.

Iranian state media also claimed that the Revolutionary Guard had attacked two U.S. destroyers with ballistic missiles. The claim had not been independently confirmed by the U.S. military and should be treated as an Iranian claim.

The latest confrontation comes as both sides remain locked in a wider struggle over control of the Strait of Hormuz, a vital route for global energy shipments. With Iran threatening further attacks on shipping and U.S. forces continuing operations against Iranian assets, concerns are growing that the conflict could expand further across the Middle East and place additional pressure on global energy markets.

Shibbir Ahmed | Washington, DC: The United States has imposed sweeping new sanctions targeting Iran’s aviation sector, placing 36 individuals and entities—including 27 Iranian airlines—under sanctions. The US Treasury Department announced the measures on Tuesday, saying the action was taken under “Operation Economic Outcast” to increase pressure on Iran’s aviation industry, aircraft procurement activities and related networks.

US authorities allege that the sanctioned individuals and entities were involved in procuring and transferring aircraft, aviation technology and other sensitive equipment for Iran. They are also accused of supporting Iranian aviation networks used to transport weapons, personnel and illicit cargo.

27 Iranian Airlines Sanctioned

The Treasury Department’s Office of Foreign Assets Control (OFAC) designated 27 Iranian airlines for operating in Iran’s aviation sector. The airlines include Air Shiraz, Asa Jet Airline, ATA Airlines, Atlas Aviation Group, Ava Airlines, Chabahar Airlines, Fly Kish Airlines, Iran Air Tour, Iran Aseman Airlines, Kish Airlines, Karun Airlines, Qeshm Air, Saha Airlines, Sepehran Airlines, Taban Airlines, Varesh Airlines and Zagros Airlines, among others. According to Washington, the latest measures represent one of the most significant sanctions actions against Iran’s commercial aviation sector in recent years.

Mahan Air Support Network Also Targeted

The United States also imposed sanctions on several companies and individuals in third countries accused of supporting Mahan Air, an Iranian airline that is already under US sanctions. According to the Treasury Department, intermediaries based in the United Arab Emirates and Türkiye played a role in transferring US-made or US-controlled aircraft to Mahan Air.

US authorities said that at least three Boeing 777 aircraft were transferred to Mahan Air through a network during the summer of 2026. The United States alleges that several companies based in the UAE and Oman were involved in the network.

Aviation Authorizations Suspended

Alongside the new sanctions, OFAC suspended three previously issued authorizations related to aviation operations involving Iran. The authorizations had permitted, under certain circumstances, the use of Iranian airspace and the operation of US-origin or US-controlled commercial aircraft in Iran by non-US airlines. US authorities said aviation safety-related matters would continue to be considered separately on a case-by-case basis.

Warning to Financial Institutions

The Financial Crimes Enforcement Network (FinCEN) also issued a separate alert to financial institutions. The agency urged banks and other financial institutions to increase scrutiny of suspicious transactions linked to Iran’s efforts to procure commercial aircraft and aircraft parts.

The Treasury Department alleges that Iran has used intermediaries and front companies across Europe, the Middle East, Africa and Asia to obtain aircraft, aviation components and dual-use technologies while concealing their ultimate destination.

Part of ‘Operation Economic Outcast’

The latest sanctions are part of the United States’ “Operation Economic Outcast,” an initiative announced in August aimed at increasing pressure on financial networks and revenue streams linked to the Iranian government.

The Treasury Department said assets and interests belonging to sanctioned individuals and entities that fall under US jurisdiction will be blocked. US citizens and companies are generally prohibited from engaging in financial or commercial transactions with those designated.

Foreign companies and financial institutions could also face the risk of US sanctions for engaging in significant transactions with sanctioned individuals or entities. US authorities said the latest measures are intended to further isolate Iran’s aviation sector from the international financial system.

Shibbir Ahmed, NEW YORK: Oil prices surged toward $100 a barrel on Tuesday as escalating violence in the Middle East raised fresh concerns about global energy supplies. Brent crude futures climbed as high as $99.46 a barrel, the highest level since July 24, before easing slightly. U.S. West Texas Intermediate crude also rose sharply, reaching $94.73 a barrel, its highest level since June 8.

The latest surge came after Iran-backed Houthi forces launched attacks on several southern Saudi Arabian cities and energy facilities. The attacks injured at least 73 people and sparked fires at Saudi energy sites, adding to concerns about disruptions to oil production and exports. At around 0956 GMT, Brent was trading at about $98.39 a barrel, up 1.43%, while WTI stood at approximately $93.73, up 2.46%, according to Reuters.

Growing supply concerns

Investors are increasingly concerned that continued attacks on energy infrastructure could further tighten global oil supplies. The situation is particularly sensitive because the conflict is unfolding across the Gulf region and around critical shipping routes. Any prolonged disruption to oil production or transportation could have consequences for fuel prices, inflation and economic growth worldwide. Iran has also threatened what it described as “economic warfare” against the United States, adding another layer of uncertainty to already volatile energy markets.

Markets under pressure

The rise in oil prices is also affecting global financial markets. Higher energy costs are raising concerns about inflation and increasing pressure on central banks as they assess interest-rate policy. U.S. stock futures were lower in early trading Tuesday, while Asian markets also faced pressure amid rising geopolitical tensions and higher energy costs.

Analysts are watching closely to see whether Brent can break above the $100-a-barrel threshold. Reuters reported that although supply disruptions are significant, alternative export routes, rising production outside OPEC and weaker demand are helping prevent prices from moving decisively above $100 for now.

For consumers and businesses, a sustained rise in crude prices could translate into higher gasoline, diesel, transportation and production costs in the weeks ahead. With fighting continuing and energy infrastructure increasingly caught in the conflict, global markets remain highly sensitive to developments across the Middle East.

CAIRO/DUBAI — Iran-backed Houthi forces attacked four cities in southern Saudi Arabia on Tuesday, wounding 73 people and setting fires at energy facilities in what officials described as a major escalation of the expanding Middle East conflict. The attacks targeted the Saudi cities of Abha, Khamis Mushait, Jazan and Najran, according to Saudi authorities. Women and children were among those injured.

The strikes also affected energy-related infrastructure. Fires were reported at several sites, including facilities linked to Saudi oil giant Aramco, while some energy operations were temporarily disrupted. Saudi authorities said the attacks targeted civilian and economic sites and vowed to take measures to protect the kingdom’s security and sovereignty.

The Houthis, meanwhile, claimed responsibility for the attacks and said they had targeted Saudi energy infrastructure using drones and ballistic missiles. Houthi military spokesman Yahya Saree said the operation was carried out in response to recent Saudi attacks in Yemen. The escalation comes as tensions across the Middle East have intensified, threatening to draw additional regional actors into the conflict.

Oil prices surge

The attacks immediately affected global energy markets. Brent crude rose to around $98 a barrel on Tuesday, while U.S. West Texas Intermediate crude climbed above $93 a barrel. Brent had earlier approached the $100 mark, reaching its highest level since July 24.

Analysts are increasingly concerned that attacks on Gulf energy infrastructure and disruptions to major shipping routes could further tighten global oil supplies. Saudi Arabia is the world’s largest oil exporter, making any sustained disruption to its energy infrastructure a major concern for global markets.

Risk of wider regional escalation

The latest attacks add another dangerous dimension to the conflict. The Houthis control large parts of northern Yemen and have previously targeted shipping and regional infrastructure. The strategic importance of the Red Sea has increased as disruptions elsewhere in the region have affected traditional energy-export routes. Any prolonged attacks on Saudi energy facilities or shipping lanes could have consequences well beyond the Middle East.

Saudi officials have vowed a response, raising fears that the latest attacks could trigger another cycle of retaliation between Riyadh-backed forces and the Houthis.The escalation also comes amid heightened tensions involving Iran and the United States, increasing concerns that the conflict could spread across multiple fronts. For global energy markets, the key question now is whether the attacks remain limited or develop into a sustained campaign against Gulf oil infrastructure.

WASHINGTON DC — The United States and Iran exchanged attacks around the strategically vital Strait of Hormuz, sharply escalating tensions after the U.S. military struck three Iranian oil tankers following Iranian missile attacks on American Navy vessels.

The U.S. Central Command said American forces targeted three Iranian crude-oil carriers on Saturday after Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles toward two U.S. Navy ships. No American personnel were reported injured in the attacks.

The strikes targeted vessels including a tanker near Iran’s Kharg Island, a major hub for the country’s oil exports. The escalation has raised fresh concerns about the security of commercial shipping through the Strait of Hormuz, one of the world’s most important energy corridors.

Iran subsequently claimed that its forces struck an unmanned U.S. vessel attempting to enter the Strait of Hormuz. The United States had not immediately confirmed the Iranian claim, according to The Associated Press.

Iranian authorities have also threatened further action against vessels they consider to be using unauthorized routes in the region. The exchange of attacks comes as military tensions between Washington and Tehran continue to intensify following the collapse of an earlier ceasefire.

The Strait of Hormuz is a critical global energy chokepoint, and disruption there could have consequences far beyond the Middle East. Shipping traffic through the waterway has already fallen significantly amid the conflict, while oil markets remain highly sensitive to developments in the region.

The latest confrontation also comes as OPEC+ prepares to meet Sunday. The group is expected to maintain its current oil-production policy amid continuing disruption to energy exports through the Strait of Hormuz.

The situation remains fluid, with both sides issuing competing claims about attacks on vessels. Independent confirmation of some Iranian military claims was not immediately available.