As the US maritime blockade intensifies economic pressure and erodes Iran’s leverage over Hormuz shipping, Tehran has sought to draw Washington into a ‘tanker-for-tanker’ confrontation. Meanwhile, its Houthi allies in Yemen attacked Saudi Arabia and advanced toward Bab al-Mandeb (MEES, 11 September), threatening Saudi oil exports while Iranian flows remain constrained (MEES, 11 September).
The conflict is entering its seventh month with no ceasefire in sight after the collapse of the US-Iran MoU in mid-July. The future status of Hormuz and Iran’s nuclear program remain unresolved, while this week saw the sharpest escalation since the initial US-Israeli attacks on Iran. Brent futures settled above $107/B on 10 September, returning to triple digits as markets priced in a prolonged conflict. (CONTINUED - 958 WORDS)
