The US recently sank five Iranian oil tankers in the Strait of Hormuz, three of which are believed to have been transporting oil for Russia. This followed an incident in July when Ukrainian drones attacked and sank an Iranian cargo ship in the Caspian Sea.

Iran war news LIVE: A magnitude 5 earthquake struck Iran's southern Hormozgan province on Tuesday, according to Iranian media reports. Iran war news LIVE: Flights resumed at Tehran's Imam Khomeini International Airport on Tuesday a day after Iranian ...

Yemen's Iranian-backed Houthi rebels continued to expand their threat to Saudi shipping routes out of the Red Sea by capturing the strategic islands of Greater and Lesser Hanish, government and Houthi officials said Monday.

F OR MONTHS Saudi Arabia has talked up a possible new offensive against the Houthis, the Iran-backed rebels who control much of Yemen. The kingdom’s Yemeni allies promised they had “surprises” in store. Propagandists blustered that they might soon free Hodeida, the country’s main port, and perhaps even Sana’a, the capital.

The recent Houthi advances in Yemen appear to complicate U.S. diplomatic efforts with Iran, potentially reducing the likelihood of a quick resolution to the Hormuz agreement. Market activity suggests a decrease in confidence for a U.S.-Iran agreement by mid-September, with odds at 2.2% for a resolution by September 16.

An attack on a Saudi Arabian pipeline and a simmering war between the Saudis and Iran's Houthi allies in Yemen are pushing oil prices up.

WASHINGTON — Yemen’s Iran-backed Houthi movement promised US officials that it would only attack Saudi Arabian ships and otherwise allow commercial traffic in the Red Sea during a secret summit in Oman over the weekend,

Regional diplomacy over the Strait of Hormuz has hit a pause after Oman postponed a planned meeting between Iran and Gulf states in the “interests of consensus”. Tehran says the decision was taken jointly with Muscat at the request of some regional countries.