Middle East: Oil surges as Gulf tensions escalate

Yemen’s Iran-backed Houthi rebels say they attacked two Saudi oil tankers in the Red Sea on Thursday, marking their first reported strike on a vessel since announcing a blockade of Saudi-linked shipping through the Bab el-Mandeb Strait earlier this week. The Houthis say the move is retaliation for Saudi Arabia’s blockade on Yemen and a recent strike on Sanaa’s international airport. The escalation adds further pressure to global shipping as the Strait of Hormuz remains closed and Brent crude…