July 24, 2026 12:51 PM
Trump vows to punish Iran and Houthis for attacks in Red Sea
U.S. President Donald Trump promised "major military punishment" for Iran and its Houthi allies after the Yemeni fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East war to a second major shipping chokepoint. Fears that disruption could widen to block another sea route sent global oil prices surging in one of the steepest rises of the war. Brent crude rose more than 6%, piercing the level of $100 a barrel for the first time since May. Two weeks since the effective co...