Earlier this week, speaking to the press, US Treasury Secretary Scott Bessent said that he doesn’t know why oil prices are still high. Despite all the bluster, the US government can’t admit that although it has militarily subdued the Iranian regime, it still doesn’t have total control over the security situation in the Arabian Peninsula and the Persian Gulf, with a conflict fired up by the Iranian-regime still raging on a low key-level.
While oil tankers passing through the Strait of Hormuz are being shielded by the US Navy, yet still run the risk of getting hit by a rocket, war in Yemen is returning with a stronger intensity as the Saudis try to keep it low-key.
There seems to have been a battle between Saudi’s armed forces and Yemen’s Houthis in the Abu Radif area of Saudi Arabia at the border with Yemen. Houthi forces used Chinese-made Rujum hexacopters to attack Saudi Arabia’s military releasing footage of the attacks.
The Aden-based, and official government of Yemen stated that other clashes between Houthi forces took place and three members of the Iranian IRGC were killed during the clashes. The Yermeni Army said that it has conducted more than 80 operations against the Houthis.
No new Houthi attacks against shipping in Bab al-Mandab have been reported although shipping traffic is less than normal.
Brent futures closed above $95 on Friday.
Newsroom
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