Global oil prices hovered around $100 a barrel on Friday after Iran rejected a U.S. ceasefire offer, fueling investor fears that the widening conflict could limit energy shipments from the region indefinitely.
Allegations of strikes on oil tankers in the Red Sea by the Iran-backed Houthi militia on Thursday added to fears about the flow of oil out of the Middle East. The group threatened to block Saudi ships taking an alternative route to avoid the Strait of Hormuz.
“From now on, any damage to ships, goods or anything related to them will be paid for by Iranian money that the United States has in its possession and control,” President Trump said on his social media site on Thursday. “These damages can be very significant, but it is nevertheless the right and fair thing to do. »
