NEW YORK: Iran war tensions intensified on Thursday while Brent crude traded above $105 a barrel, with fresh threats and attacks keeping pressure on shipping routes around the Gulf and Red Sea.
A senior adviser to Iran’s supreme leader warned that renewed US attacks could open a “new front” targeting energy supplies in the Red Sea. The warning followed threats against Iran by President Donald Trump.
Meanwhile, a commercial vessel was struck in the Strait of Hormuz on Wednesday. One crew member died, while Oman’s navy evacuated more than 20 mariners.
The International Maritime Organisation has confirmed a fatality in the September 23 incident. Pressure has also increased around Yemen’s Bab el-Mandeb Strait.
Houthi forces seized the port city of Mokha and key Red Sea islands this month, expanding their position near the shipping route.
The group has declared a blockade on Saudi shipping but says other commercial traffic is not being targeted. Yemen’s internationally recognised government challenged those assurances at the United Nations General Assembly.
Read: Iran Oil Shutdowns Raise Restart Costs as Loadings Plunge
Vice President Abdullah Abdulkader al Alimi-Bawzer warned that using navigation safety for leverage threatened global supply chains and energy security.
About 12% of global trade normally passes through Bab el-Mandeb, according to the supplied account. Brent crude returned above $105 a barrel.
Read: Dow Jones Falls 316 Points as Oil, Treasury Yields Surge
As the seven-month Iran conflict produced fresh threats against energy shipping and further maritime disruption. U.N. General Assembly not to trust the Houthis’ assurances – and to see a bigger picture in the strife around the strait.
