Saudi Arabia urged the United States to end its naval blockade of the Strait of Hormuz. Officials warned that Iran may retaliate by closing the Bab al-Mandeb strait. This escalation threatens Saudi Arabia’s remaining oil export routes through the Red Sea.
The diplomatic pressure follows the first full day of a U.S. blockade halting traffic to Iranian ports. China labeled the blockade a dangerous and irresponsible act on Tuesday.
Brent crude fell below $100 per barrel in early Asian trading. Prices retreated after President Trump stated that Iranian officials reached out to negotiate a deal. These comments raised market hopes for renewed peace talks despite escalating geopolitical risks.