Gulf vessels struck and Tehran warns of Hormuz closure
Things are heating up in the Gulf after at least two vessels were struck over the weekend in waters near Oman and Iran.
Iran is warning it might close the Strait of Hormuz (a key passage for about 20% of the world's oil) unless the US ends its acts of aggression and lifts a naval blockade of its ports and economic warfare.
These threats have everyone on edge, since any disruption here can send energy prices soaring.
Houthi strike hits Aramco in Riyadh
The situation is even more tense with Yemen's Houthi rebels (backed by Iran) ramping up attacks on Saudi Arabia, including a recent strike on Aramco in Riyadh.
Oil prices jumped to over $102 a barrel as markets reacted.
Even though G-7 countries are releasing diesel and crude stocks to help out, their efforts haven't calmed things down much.
Uncertainty in the region is still making waves for the global economy.