A drone attack has hit a US-owned tanker at Egypt's Damietta port, while joint US-Saudi strikes have triggered fresh retaliatory threats. The attack has sparked a surge in oil prices, with Brent crude rising to a 14-year high.
A drone attack has hit a US-owned tanker at Egypt's Damietta port, while joint US-Saudi strikes have triggered fresh retaliatory threats. The attack has sparked a surge in oil prices, with Brent crude rising to a 14-year high. The US and Saudi Arabia have launched a series of airstrikes against Iranian targets in the region, in response to a series of attacks on oil tankers. The airstrikes have triggered a wave of retaliatory threats from Iran, which has vowed to take revenge on the US and its allies. The US and Saudi Arabia have also imposed sanctions on several Iranian officials, in response to the attacks on oil tankers. The situation in the Middle East is highly volatile, with multiple countries involved in the conflict. The US and its allies are taking a range of steps to prevent Iranian operatives from using social media to gather intelligence on American troops.
Oil prices have surged past $100 a barrel for the first time since May, as Middle East conflicts continue to escalate. The price of Brent crude rose more than 6% on Thursday, following a strike by Yemen's Houthis on Saudi Arabian oil tankers in the Red Sea. The war in the Middle East continues to have a significant impact on global oil prices, with the US President Donald Trump threatening to strike the Houthi rebels in response. The price of oil has been rising for the fifth consecutive day, with the US President's threat adding to the tensions in the region.