Oil prices fell on Tuesday as markets balanced reports of renewed diplomatic efforts between the United States and Iran with continued military escalation and fresh threats to global energy supplies.
Yemen's Iran-aligned Houthi movement has announced a naval blockade on Saudi Arabia, raising fears of further regional escalation and possible disruption to global energy supplies and key shipping routes.
The four-year truce that helped stabilise Yemen appears to have collapsed after the Houthi movement fired missiles at Saudi Arabia, accusing the kingdom of bombing an airport under its control. The escalation raises fears of a wider regional conflict.
Saudi Arabia is moving crude through the Red Sea port of Yanbu at close to maximum capacity this week, as tensions with Yemen's Houthis add to broader concerns over Gulf shipping routes, according to data and industry sources cited by Reuters.
Fresh Houthi missile and drone strikes on Israel mark a significant widening of the Iran-centred conflict, raising fears the Yemen-based group could open a new front. Their position near the Bab el-Mandeb strait also threatens global shipping and energy flows.
The Israeli military said on Monday that Iran launched multiple waves of missiles at Israel, and an attack had also been launched from Yemen for the second time since the U.S.-Israeli war began on Tehran. It said two drones from Yemen were intercepted early 30 March but gave no further details.
Iranian Military Spokesman Lieutenant Colonel Ibrahim Zulfiqari has warned that American soldiers will become 'food for sharks' if U.S. President Donald Trump launches ground attacks against Iran. The threat comes after the U.S. military said it was deploying thousands of Marines to the region.
The head of the United Arab Emirates‑backed Southern Transitional Council (STC) of Yemen, Aidarous al-Zubaidi, has fled to an unknown location on Wednesday (7 January), skipping a scheduled flight to Riyadh for crisis talks, according to Saudi‑backed coalition officials.
A Pentagon investigation has raised concerns over U.S. Defense Secretary Pete Hegseth’s use of the Signal app on his personal device to transmit sensitive information regarding planned U.S. strikes in Yemen, potentially compromising U.S. military operations.
The United Nations said on Monday that all its personnel previously confined inside its compound in the Yemeni capital, Sanaa, have been released after Houthi forces withdrew.
The United Nations said on Monday that all its personnel previously confined inside its compound in the Yemeni capital, Sanaa, have been released after Houthi forces withdrew.
Iranian-backed Houthi rebels raided a United Nations facility in Yemen’s capital, Sanaa, on Saturday, but all 15 international staff present were reported safe, a UN official said.
Israel's Airports Authority said on Sunday that a drone launched from Yemen struck the arrivals hall at Ramon Airport near the Red Sea city of Eilat.
Iran-backed Houthi rebels raided offices of the United Nations’ food, health, and children’s agencies in Yemen’s capital, Sanaa, on Sunday, detaining at least 11 personnel, reports said.
Yemen’s Houthi movement announced on Sunday that it will target any vessels operated by companies that conduct business with Israeli ports, regardless of the ships’ nationalities. This marks what the group described as the fourth phase of its military operations against Israel.
Rescuers have pulled six crew members alive from the Red Sea after Houthi militants sank a second cargo vessel this week, while the fate of another 15 seafarers remains uncertain.
Yemen’s Houthi group said it attacked the bulk carrier Magic Seas in the Red Sea, causing the vessel to take on water and sink.
Israel’s Minister of Defense has announced the launch of Operation Black Flag, with the Israeli Defense Forces (IDF) carrying out strikes on multiple military targets belonging to the Houthi movement in Yemen.
Israel’s military on Monday reported a missile attack launched from Yemen, intensifying already heightened regional tensions following a dramatic escalation in hostilities between Israel and Iran.
Oman announced on Tuesday that it had successfully mediated a ceasefire agreement between the United States and Yemen's Houthi movement, signaling a significant de-escalation in regional tensions that have intensified since the start of the Israel-Gaza war in October 2023.
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