WS #14094
Iran's underwater drone attack on UAE tankers and Houthi strikes on Saudi Aramco facilities have nearly halted Strait of Hormuz traffic, driving oil prices up ~4% on the week and pressuring airlines. US vows 'unprecedented' sanctions on Iran next week and signals indefinite naval blockade, with diplomatic efforts expanding to European players, indicating no near-term de-escalation.
Middle East Oil Supply Disruption
Iran's underwater drone attack on UAE tankers and Houthi strikes on Saudi Aramco facilities have nearly halted Strait of Hormuz traffic, driving oil prices up ~4% on the week and pressuring airlines.
US vows 'unprecedented' sanctions on Iran next week and signals indefinite naval blockade, with diplomatic efforts expanding to European players, indicating no near-term de-escalation.