Oil prices rise slightly after US announces new round of strikes on Iran

The Bab el-Mandeb waterway at the southern entrance to the Red Sea has become an increasingly important route for ​Saudi crude exports ​as traffic through ⁠the Strait of Hormuz has fallen sharply since a ceasefire between the United States and Iran collapsed earlier this ​month.

The ​constant trading of strikes has raised fears of further disruptions to global ​energy supplies after Yemen's Iran-aligned Houthis opened a new front in the Iran war ‌by threatening ⁠to target vessels carrying Saudi oil in the Bab el-Mandeb Strait and announcing a naval blockade of Saudi Arabia.military said it began its latest strikes on Iran late on Tuesday ​in the United States, or early Wednesday in Iran.