New attacks on shipping as Iran war talks hit fresh impasse

DUBAI — Tensions escalated in the Gulf as the United States and Iran-aligned Houthis separately targeted shipping vessels on Tuesday, as the likelihood of ending the Iran war dwindled. Tehran threatened to keep the Strait of Hormuz closed unless Washington acquiesces to its demands. The assaults occurred in the Gulf of Oman leading to the strait and at the entrance to the Red Sea, two critical channels for international oil shipments.

Amid the ongoing conflict, oil prices surged, with Brent crude futures increasing by 1.4% to $88.91 per barrel, and U.S. crude rising by 1.3% to $83.20. A suspected Houthi attack on a small cargo ship in the Bab el-Mandeb Strait, located at the southern end of the Red Sea, resulted in the loss of four crew members and two Yemeni rescuers, according to Yemen's Transport Ministry and Coast Guard.