Iran has increased its attacks on US and Gulf targets as it tries to break the American blockade on its oil exports. Tehran also appears to be using this time to put pressure on the US while President Donald Trump is focused on the November midterm elections.
Saudi Arabia Closes Key Oil Pipeline After Drone Attack
Saudi Arabia has temporarily shut down its 745-mile East-West oil pipeline following a drone attack on Friday. This pipeline is crucial for transporting oil, as it allows the country to bypass the strategically significant Strait of Hormuz.
The drones that targeted the pipeline were launched from Iraq, which is currently investigating the incident. In response, US President Donald Trump suggested on Saturday that Iran was ‘probably’ behind the attack. Iran’s military capabilities have reportedly expanded, with an increase in both the number and range of missile strikes, indicating a broader targeting strategy.
This incident underscores rising tensions in the region and the potential implications for global oil supplies.
US forces have allowed only a limited amount of shipping to pass through the area, as reported by WSJ . On Tuesday, Iran fired dozens of missiles at the Muwaffaq Salti air base in Jordan, a key US military base in the region. On Thursday, Israeli forces destroyed a Hezbollah complex under Ali Taher Ridge despite a ceasefire.
Tehran claimed the ships had violated the rules it was trying to impose on the waterway. The attacks have also moved beyond ships. Nine US warplanes were reportedly damaged in the attack. The situation has badly affected Iran’s economy. Trump has defended the higher prices, saying they are worth it to stop Iran from getting a nuclear weapon. Iran is also reportedly working with Russia on supersonic anti-ship missiles, which could make the situation at sea even more dangerous. Israel has stepped up attacks on Hezbollah, Iran’s ally in Lebanon. Netanyahu called it the largest Iranian outpost outside Iran.
Iran said it attacked 10 ships this week, including two US vessels, near the Strait of Hormuz, according to iPaper . Inflation is around 88 per cent, according to official figures, while the International Monetary Fund expects the country’s economy to shrink by 5.4 per cent this year. Brent crude crossed $100 a barrel this week. In the US, petrol prices have gone above $4 a gallon, while diesel has crossed $6. He has also promised a $5,000 payment to every American adult if Republicans keep control of the House and Senate.
The US denied that any of its ships were hit and said its forces had destroyed five Iranian oil tankers. No Iranian crude oil has crossed the US blockade since it was brought back in July, according to shipping intelligence firm Kpler. Trump has said the war would end immediately after the elections, according to the BBC . Mohsen Rezaei, head of Iran’s Supreme National Security Council, said Iran was using anti-destroyer missiles against enemy ships for the first time, according to Iran International . Iranian parliament speaker Mohammad Bagher Ghalibaf also said the country had dropped its earlier policy of responding to attacks in proportion to the damage caused. Israeli Prime Minister Benjamin Netanyahu said this week that bringing down the Iranian government was Israel’s “central mission” and claimed that the goal was within reach. “Tonight we destroyed the largest Iranian outpost outside of Iran,” Netanyahu said.
