US beefs up military might in Middle East after unleashing powerful B-1 bombers to attack Iran

Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil exited the Red Sea via the Bab el-Mandeb Strait on Thursday, shipping data showed, apparently escaping a blockade on shipments of Saudi oil by Yemen's Houthi rebels even as other vessels came under attack.

The Red Sea blockade by the Iran-aligned Houthis is worsening global energy supply disruption, coming at the same time the key Strait of Hormuz has practically shut due to the resumption of fighting between the U.S. and Iran. The Singaporean-flagged VLCC Xin Long Yang, which made a U-turn and paused in the middle of the Red Sea on Tuesday, resumed its journey southward late on Wednesday, LSEG shipping data showed.

The Chinese-flagged VLCC Cosnew Lake followed and both tankers exited the Red Sea later on Thursday, the data showed. The Xin Long Yang was heading to the port of Qinzhou in southern Guangxi province, while Cosnew Lake is expected to discharge its cargo at the port of Huizhou, in the southern Chinese province of Guangdong, the data showed.

Both vessels indicated through their automatic identification system transmitters that there were Chinese crew onboard, the data showed. The vessels are chartered by Unipec, the trading arm of Asia's largest refiner Sinopec, and loaded crude at Saudi Arabia's port of Yanbu earlier this week.

At least two other VLCCs chartered by Unipec and scheduled to enter the Red Sea and load Saudi crude at the Yanbu port later this month slowed their advance toward Bab el-Mandeb and were making small circles in the Gulf of Aden, LSEG data showed. Earlier on Thursday, the Houthis announced they had carried out a military operation targeting two Saudi oil tankers they said violated the blockade.

Shipping data showed both tankers supply crude to Saudi power plants and local refineries. The Saudi Arabian news agency SPA later said the Saudi vessel Encelia was attacked in the Red Sea and was on fire, though the crew was safe. Because of the Middle East conflict, shipping traffic through the Bab el-Mandeb declined and movement through the Strait of Hormuz remained subdued on Wednesday, data from LSEG and data analytics firm Kpler showed.

Twenty-seven vessels, including five oil tankers and a liquefied petroleum gas (LPG) carrier, crossed the Bab el-Mandeb Strait on Wednesday, LSEG data showed, down from 38 the previous day. Data from analytics firm Vortexa showed one VLCC exited Bab el-Mandeb with its transponder switched off on Wednesday.

Two VLCCs emerged from the Strait of Hormuz on Thursday, LSEG data showed. The New Giant, carrying 2 million barrels of Iraqi crude, was headed for the eastern Chinese port of Rizhao, while the Rotterdam Energy, loaded with 2 million barrels of Upper Zakum crude from the United Arab Emirates (UAE), appeared off Fujairah, according to LSEG and Kpler data.

Three commodity vessels transited the Strait of Hormuz on Wednesday, down from four a day earlier and 18 the previous Wednesday, according to Kpler. Two vessels entered the strait from the Gulf of Oman, including a tanker carrying dirty petroleum products that sailed through Iranian waters and a dry bulk carrier operating in dark mode, with its tracking signal switched off, Kpler data showed.

As of July 20, there were 253 laden tankers in the Gulf, including 102 oil tankers, 64 liquefied natural gas carriers and 66 liquefied petroleum gas carriers, according to LSEG data.

(RTTNews) - Extending four consecutive sessions of gains, crude oil prices have catapulted on Thursday amid concerns of a wider conflict in the Middle East set off by new attacks by the Iran-backed Houthis in Yemen on two Saudi Arabian tankers in the Red Sea.

WTI Crude Oil for September month delivery was last seen trading up by $92.59 (or 6.63%) at $5.76 per barrel. The conflict between the U.S. and Iran that started on February 28 is yet to show indications for a peaceful resolution. Through a Memorandum of Understanding on June 17, the U.

S. and Iran agreed to settle disputes through peace talks. Following this, Iran reopened the Strait of Hormuz and the U.S. permitted Iran to export its crude oil and lifted the blockade on Iranian ports. The easing of tensions did not last long, however.

Within a month of signing the MoU, Iran fired at ships transiting via the Strait of Hormuz for not coordinating with Iranian forces and U.S. forces recommenced their attacks on Iran. In retaliation, Iran struck several U.S. bases in neighboring nations.

As of now, the U.S. military has conducted 12 consecutive nights of strikes against Iran. U.S. Central Command stated that through the attacks, the U.S. intended to degrade Iran's capabilities to conduct any further strikes on ships traveling through the strait.

U.S. President Donald Trump threatened that the U.S. would target a power plant or a bridge in Iran if it attempts to strike any ship across the Strait of Hormuz. In response, Iran stated that the conflict would grow broader if the U.S. attempts to hit Iranian infrastructure.

Aside from the verbal exchange of rhetoric, the strait saw no disturbances. Shipping traffic across the Strait of Hormuz has already come to a standstill. According to data from S&P Global, the vessel traffic dropped from 16 on Monday to 10 on Tuesday.

Markets awaited a breakthrough from the attempts by Pakistan in coordination with Qatar to de-escalate tensions between the U.S. and Iran. Against this backdrop, today the Houthi militant group claimed to hit two Saudi Arabian tankers, Encelia and Layla, in the Red Sea with cruise and ballistic missiles as well as drones.

The news caused jitters in the energy markets as today's moves by the Houthis threaten to open a new front in the ongoing gulf war, Millions of barrels of crude oil passed through the Bab el-Mandeb strait to reach global markets. The strait, which serves as an alternative to the Strait of Hormuz, is a strategic link that connects the Red Sea to the Indian Ocean through the Gulf of Aden.

According to data from S&P Global, the vessel traffic has dropped from 41 on Monday to 29 on Tuesday. Trump announced through Truth Social that if Houthis conduct any further strikes, Iran would suffer a major military punishment as the U.S. would hold Iran responsible for the group's actions.

In the Black Sea, Russia's Caspian Pipeline Consortium terminal has halted receiving oil from Kazakhstan due to attacks on tankers that prompted suspension of loadings. Oil production in Kazakhstan declined after the closure of the terminal. In the U.

S., the national average for a gallon of regular gasoline is $4.09 currently, according to the American Automobile Association. With the exchange of strikes between the U.S. and Iran showing no sign of easing coupled with fresh Houthi attacks, and the resultant higher oil prices, concerns about the risk of a surge in inflation that could force central banks to hike interest rates are increasing.

The U.S. dollar index was last seen trading at 101.47, up by 0.36 (or 0.36%) today. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Oil prices exceeded $100 per barrel on Thursday amid ongoing military actions and regional instability affecting Middle East supplies, according to market reports. Brent crude, the international benchmark, last reached this level in May following a period of lower prices in June.

Sectors including food production and shipping have cited prior energy cost increases, with some businesses indicating they may pass on expenses to consumers.

US President Donald Trump stated on Thursday that Iran would face major military punishment for Houthi strikes on two Saudi oil tankers in the Red Sea. Brent crude prices rose more than 6 percent and exceeded US$100 per barrel amid reports of further US air strikes on Iran and Iranian missile fire toward areas hosting US bases.

Iranian state media reported a missile impact on Qeshm Island near the Strait of Hormuz during the fifth month of the conflict.