Middle East live: US launches new strikes on Iran as oil prices skyrocket
Summary
The United States military launched new air strikes against targets in Iran amid ongoing conflict involving Iran-backed Houthi rebels attacking Saudi oil tankers in the Red Sea. These attacks have caused oil prices to rise sharply due to concerns over disruptions to major shipping routes.Key Facts
- The US military carried out a 13th consecutive night of strikes on Iran on July 22, 2026.
- Iran-backed Houthi rebels attacked two Saudi oil tankers in the Red Sea, opening a new front in the conflict.
- The attacks raised concerns about the safety of key global shipping lanes, leading to a sharp rise in oil prices.
- Brent crude oil prices briefly rose above $100 per barrel for the first time since May 2026.
- The US House of Representatives narrowly passed a resolution to stop US military actions in Iran.
- President Donald Trump warned Iran it would be held responsible for attacks on the Saudi tankers.
- Trump linked a US-Saudi nuclear deal to Saudi Arabia normalizing relations with Israel under the Abraham Accords.
- The conflict has already cost the US approximately $37.5 billion.
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