Saudi-Houthi Cross-Border Strikes, Tanker Hit in Hormuz Stoke Fears Over Global Oil Supplies The Bridge Chronicle
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Saudi-Houthi Cross-Border Strikes, Tanker Hit in Hormuz Stoke Fears Over Global Oil Supplies

Escalating Saudi-Houthi clashes and a tanker strike in the Strait of Hormuz deepen regional turmoil, threaten key shipping lanes and raise the specter of renewed US-Iran confrontation over surging energy prices

Abhijit Sherekar

On Thursday, Saudi Arabia and Yemen’s Iran-aligned Houthi movement launched new cross-border attacks, while Yemeni civilians fled the fighting by boat across the Red Sea, as the widening conflict in the Middle East posed fresh risks to global oil supplies.

Houthi-run television reported that Saudi air raids targeted Hajjah province near the Saudi border along the Red Sea coast, as well as areas around Taiz further south inland.

Saudi Arabia's civil defence reported that a Yemeni resident in the kingdom was killed by debris from a drone that was intercepted over the western city of Taif, marking the first fatality Riyadh has acknowledged in the series of Houthi attacks since the fighting intensified last week. Authorities had earlier stated that more than 80 people were injured.

Iran’s Revolutionary Guards Navy stated that a Togo-flagged oil tanker caught fire after being struck while attempting what it described as an “illegal passage” through the Strait of Hormuz, according to Iranian state media. The Guards Navy added that the tanker stopped moving after the blaze broke out.

The extension of the war into Yemen and Saudi Arabia has heightened fresh worries over oil supplies, as it threatens the primary alternative Red Sea corridor for Gulf exports at a time when passage through the Strait of Hormuz remains restricted.

US President Donald Trump has rejected Saudi requests for military assistance against the Houthis, who reached a ceasefire with the United States last year following a two-month US bombing campaign against the group.

The president is confronting the likelihood of political setbacks for his Republican Party in the November midterm elections, due in part to rising energy prices following the joint attack by the United States and Israel on Iran in February.

Trump stated on Thursday that he is nearing a pivotal decision on whether to resume large-scale strikes against Iran.

"I have a big decision coming up. Do I want to go in and annihilate them or do I not? It's a big decision. Anything could happen with me," Trump said ​in an interview with Axios.

Global crude oil prices dipped modestly on Thursday but are still well above $100 per barrel after climbing to their highest levels since May. In the United States, the average retail price of diesel set a new record on Thursday, coming in just under $6.40 per gallon.

The United States and Iran have not engaged in any talks to halt the war since an interim deal agreed in June fell apart within weeks. However, the conflict is expected to be discussed at the United Nations General Assembly next week, and an Iranian delegation will be permitted to participate, according to the US State Department.

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