Conflict Timeline

Crude oil prices rose on Thursday, with WTI Crude for September delivery reported up over 6% amid concerns of regional escalation linked to Houthi attacks on two Saudi tankers in the Red Sea. Accounts describe a U.S.-Iran dispute that began in late February, included a June memorandum on talks, reopening of the Strait of Hormuz, and subsequent mutual strikes, though many specific claims of agreements, attacks, and threats lack independent verification at this time.