Shibbir Ahmed, New York — Iran has said the strategically vital Strait of Hormuz will remain closed despite efforts to revive regional diplomacy, as a planned meeting between Iran and Gulf states was postponed and concerns over global energy supplies continued to grow.

Iranian Foreign Minister Abbas Araghchi said an agreement reached with Oman over arrangements for maritime traffic through the strait would not mean the waterway would be reopened. Tehran has linked any reopening to the United States returning to commitments made under an earlier peace understanding.

The planned meeting in Oman, which was expected to bring together Iran, Iraq and Gulf Arab states to discuss navigation through the Strait of Hormuz, was postponed on Monday. Oman’s Foreign Minister Badr Albusaidi said the delay was intended to allow more time to build consensus among the participating countries.

The diplomatic setback comes as tensions around the region’s major energy routes continue to rise. Shipping traffic through Hormuz has fallen sharply, with only a small number of commodity vessels recorded passing through the waterway over the weekend, well below the recent daily average.

The Strait of Hormuz is one of the world’s most important energy chokepoints, carrying a significant share of global crude oil and liquefied natural gas supplies. Disruption to the route has already contributed to a sharp increase in oil prices, with Brent crude rising above $107 a barrel on Monday.

Iran has also warned vessels that violate its maritime protocols. Its Strait Authority issued an updated list of 77 vessels accused of violating Iranian rules and warned that sanctioned ships could face penalties including fines, detention or confiscation.

The stalled diplomacy has increased fears that the disruption could persist, putting further pressure on global energy markets, shipping costs and economies dependent on Gulf oil and gas.

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.

Shibbir Ahmed, NEW YORK — Iran-aligned Houthi forces have seized the strategic Mayun Island at the southern entrance to the Red Sea, tightening their grip around the Bab el-Mandeb Strait and raising fresh concerns over global shipping and energy supplies.

The Houthis also took control of Yemen’s Red Sea port city of Mokha on Thursday and have advanced along the coast toward strategic islands, according to Reuters and the Associated Press. The developments represent the group’s most significant territorial gains since a 2022 truce largely halted Yemen’s civil war.

Mayun Island, also known as Perim, sits in the Bab el-Mandeb Strait, a critical maritime chokepoint connecting the Red Sea with the Gulf of Aden. About 12% of global goods normally pass through the waterway, making any prolonged disruption a potential threat to international trade.

The latest Houthi advance comes as shipping through the nearby Strait of Hormuz has already been severely disrupted by the wider Middle East conflict. Saudi Arabia has increasingly relied on the Red Sea route to move oil after traffic through Hormuz became heavily restricted.

The potential loss of secure access to both major maritime corridors has heightened concerns among energy traders and shipping companies. Reuters reported that Saudi crude production fell to about 6 million barrels per day in August, its lowest level in more than three decades, partly because of disruptions linked to attacks on shipping around the Bab el-Mandeb.

Oil markets have responded sharply to the growing risks. Brent crude rose above $100 a barrel this week, while U.S. West Texas Intermediate crude also crossed the $100 threshold as traders assessed the possibility of further supply disruptions.

Saudi Arabia has responded to the Houthi advance with military action. A Houthi-controlled broadcaster reported that Saudi forces carried out airstrikes on the airport in Mokha after the port city fell to the group. There were no immediate reports of casualties or significant damage.

The escalation has also raised fears of a renewed wider conflict inside Yemen. More than 46,000 people have fled their homes since the latest fighting began, according to the U.N. migration agency, while Yemen’s internationally recognized government has indicated that it intends to launch a counteroffensive to recover territory captured by the Houthis.

For international shipping, the main concern is whether the Houthis will use their new positions to further restrict commercial traffic through the Bab el-Mandeb. Shipping through the waterway had already fallen substantially after Houthi attacks on commercial vessels beginning in late 2023, prompting many shipping companies to reroute vessels around Africa.

With both the Bab el-Mandeb and Strait of Hormuz facing serious security challenges, businesses are preparing for potentially higher transportation and energy costs. Any prolonged disruption could affect oil prices, shipping rates and the movement of goods between Asia, the Middle East and Europe.

The latest developments have therefore transformed the Houthi advance from a regional military development into a growing concern for global trade and energy markets.

Shibbir Ahmed, New York — Oil prices remained above $100 a barrel on Friday, putting both major benchmarks on track for their strongest weekly gains in months as escalating violence in the Middle East disrupted key shipping routes and heightened concerns over global supplies.

Brent crude futures rose earlier in the session to above $108 a barrel before giving back some of those gains. U.S. West Texas Intermediate crude also traded above $100, after both benchmarks jumped more than 6% on Thursday.

Brent was last trading around $104 a barrel, while WTI fell below the $100 mark later in the session. Despite the pullback, both contracts remained sharply higher for the week. Reuters reported that Brent and WTI were on track for weekly gains of more than 8%.

The latest price moves have been driven largely by growing risks to oil shipments through the Strait of Hormuz and the Red Sea, two critical routes for global energy supplies. Increased attacks on tankers and other shipping have raised concerns that disruptions could persist.

Iran-aligned Houthi forces also seized Yemen’s port of Mocha, according to reports, adding to concerns about shipping through the Bab al-Mandeb Strait and the wider Red Sea region. At the same time, traffic through the Strait of Hormuz remains heavily restricted.

The Strait of Hormuz is one of the world’s most important oil transit routes. Oil flows through the waterway have fallen sharply from levels seen before the latest escalation in fighting, putting additional pressure on already tight global supplies.

Supply concerns have also been reinforced by disruptions to energy infrastructure in the region. Reuters reported that Saudi Arabia’s crude production fell to about 6 million barrels per day in August, its lowest level in roughly three decades, following attacks on energy facilities.

The disruption is also being felt in fuel markets. U.S. diesel prices have climbed to record levels, increasing costs for transportation, agriculture and other industries. Higher energy prices are also raising concerns about renewed inflationary pressure around the world.

Oil prices had already risen sharply in recent weeks as the conflict involving the United States and Iran intensified. Brent crude crossed the $100 threshold on Wednesday for the first time since July, and Thursday’s rally pushed both Brent and WTI above $100.

Markets remain focused on whether diplomatic efforts can restore safe passage through key shipping routes. Any sustained improvement in shipping conditions could ease some of the recent price pressure, while further attacks or prolonged restrictions could keep oil prices elevated.

For now, traders remain cautious as the conflict continues to threaten one of the world’s most important energy supply corridors.

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.

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, 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.