You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Oil Leaps 5% As Iran Stokes Hostilities Between Saudis And Houthis Oil Leaps 5% As Iran Stokes Hostilities Between Saudis And Houthis by Ship & Bunker News Team Wednesday July 22, 2026 Tweet Follow @shipandbunker Meanwhile, U.S. president Trump vows to destroy Iranian power plants if Hormuz attacks continue: File Image/Pixabay As of 1105 GMT Wednesday, oil prices were continuing their upward surge, this time by about 5 percent with Brent hovering at $95.47 per barrel, as U.S. president Donald Trump warned Iran -backed Houthis that he would “take care of things” if they attempted to block Saudi Arabia naval transits in the Red Sea . Trump’s comments came after Washington accused  Iran of flying Islamic Revolutionary Guard Corps members into Yemen in an attempt to renew confrontation between the Houthis and the Saudis. Oil analysts were also tensely awaiting the outcome of Trump’s warning that each time the Islamic republic attacked a ship in the Strait of Hormuz , the U.S. would respond with a strike on bridges or power plants in Iran. “ Rising oil prices are threatening a re-acceleration of inflation Bloomberg The increase in crude prices this month - to the tune of 30 percent - has been the fastest since the U.S.-Israeli attacks on Tehran began earlier this year, and Goldman Sachs analysts worried that it could put the market on track for $120 per barrel oil by the end of the year unless transit through Hormuz restarts in a meaningful way. According to MarineTraffic , only 13 ships crossed the vital waterway on Monday, and on Tuesday that number was only 9. Fatih Birol , executive director of the International Energy Agen