23/07/2026 – United States – Iran: Crisis spreads to the Red Sea, Saudi oil tankers hit by Houthis – Read more news

GAS & POWER: Gas prices hit their highest levels since January 2023 this morning –16 have closed higher in the last 20 sessions – amid rising tensions in the region day by day. The United States has again threatened to strike the Pickaxe Mountain nuclear site, as well as new infrastructure targets such as bridges and power plants. Meanwhile, the Revolutionary Guards claimed responsibility for the attack on an oil tanker in the Strait of Hormuz, while the Houthis said they hit two Saudi oil tankers in the Red Sea.

OIL: Crude oil prices rose sharply this morning, already approaching $99/bbl, following the announcement of raids by Yemeni Houthis in the Red Sea. According to Reuters, at least a dozen ships linked to the Saudis have slowed their progress towards the Bab el-Mandeb Strait in the last twenty-four hours. Supplies of about 5 million barrels/day – about 5% of daily global crude demand are at risk.