The widening Iran conflict is threatening to turn the Middle East’s most important shipping lanes into major global economic flashpoints, with disruptions in both the Strait of Hormuz and the Red Sea putting fresh pressure on oil markets.
Brent crude remained above $100 a barrel as fighting continued to disrupt vessels travelling through the region.
The latest escalation has raised concerns that prolonged disruption to the waterways could affect fuel supplies well beyond the Middle East, with businesses and consumers potentially facing higher transport and energy costs.
Hormuz becomes key battleground
The Strait of Hormuz, which previously carried around a fifth of global oil supplies, has seen a sharp decline in maritime traffic amid the conflict.
Only seven vessels reportedly passed through the waterway on Wednesday, around half the 10-day average, according to preliminary ship-tracking data.
Iran said it had attacked 10 ships near the waterway after the United States sank five Iranian oil tankers.
The tit-for-tat attacks have made commercial shipping increasingly risky and complicated efforts to gradually reopen the strategically important route.
Red Sea crisis adds to pressure
The situation is being compounded by growing Houthi activity around the Bab el-Mandeb Strait, the southern gateway to the Red Sea.
The Iran-backed group has been seeking greater control over strategically important areas in Yemen, including territory and islands close to the waterway.
The Bab el-Mandeb is a crucial route for vessels carrying oil, fuel and other commodities between the Gulf, Europe and Asia.
Any prolonged disruption could force shipping companies to take longer alternative routes, increasing journey times and transportation costs.
Saudi Arabia caught in widening conflict
Saudi Arabia is also facing renewed attacks from the Houthis.
At least 73 people were reportedly wounded in recent strikes across four southern Saudi cities, including Khamis Mushait.
Saudi authorities issued another emergency alert in the city on Thursday as tensions continued to rise.
The escalation creates an increasingly complicated regional picture, with Iran, the United States, Israel, the Houthis and Saudi Arabia all becoming entangled in overlapping military confrontations.
Oil markets on edge
The simultaneous pressure on the Strait of Hormuz and Bab el-Mandeb has heightened concerns about the resilience of global energy supplies.
While alternative routes remain available, a prolonged disruption could increase shipping costs and place further upward pressure on crude prices.
The impact could extend beyond petrol prices, affecting industries that depend heavily on oil and fuel for transportation and production.
Trump predicts eventual end to war
Against this backdrop, US President Donald Trump said he expects the war to end after the November US midterm elections.
Trump also renewed his warning to Iran over Pickaxe Mountain, a heavily fortified site associated with Iran’s nuclear programme near Natanz.
His comments suggest that, despite speculation about a possible diplomatic resolution, the threat of further military escalation remains.