Oil Prices Jump as Houthis Join Middle East War and Trump Weighs Iran Uranium Op

Oil prices climbed sharply in early trading after Yemen’s Houthi rebels joined the Middle East conflict, raising fears for key energy routes as investors shift focus to the security of alternative oil‑export pathways.

Brent crude rose 2.6% to $115.45 a barrel, up nearly 60% on the month, while the U.S. benchmark WTI gained 1.3% to $100.98 a barrel, marking a rare return above the symbolic $100 level.

Market watchers say attention is now on how vulnerable alternative oil‑export routes are, especially after Saudi Arabia has bypassed the effectively closed Strait of Hormuz by using its east–west pipeline to send up to 6 million barrels per day of oil to international markets via the Red Sea.

ANZ analysts warn in a research note that this pipeline route “could be a potential target for the Houthis”, further heightening risk for global supply chains.

Meanwhile, The Wall Street Journal reported that President Trump is weighing a military operation to extract nearly 1,000 pounds of uranium from Iran, adding another layer of geopolitical tension that could keep oil markets on edge in the coming days