Oil prices jumped as Yemen-aligned Houthis attacked two Saudi oil tankers in the Red Sea near Bab el-Mandeb, threatening further disruption to key chokepoints. Brent crude rose to about $98–$100 a barrel and WTI traded in the low $90s, with analysts warning prices could push higher if disruptions persist. Iran-linked actions and a U.S. response have intensified tensions around the Strait of Hormuz, complicating global supply routes. Market participants reassess risk and near-term demand as chokepoints face renewed strain. Analysts warn prolonged disruption could lift prices above prior highs later in the year, with some noting higher odds of new highs. The broader regional and currency markets show spillovers as investors monitor developments.