A vessel was struck by an unknown projectile 13 nautical miles west of Al Jazeera in the United Arab Emirates on Friday, causing a fire that has since been extinguished, British navy affiliated agency UKMTO said, citing multiple sources.

For a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a tanker from the US to China than to launch a rocket into space.

A commercial vessel was struck by a projectile in the Persian Gulf on Friday, sparking a fire onboard in the second reported attack on shipping inside the Gulf in just...

Saudi Arabia has $142 billion in American weapons. Yemen is the poorest country in the Arab world. So why can’t Riyadh win?

Last month, Ansar Allah seized Mokha and Perim Island, and with them the Bab el-Mandeb Strait, cutting off Saudi Arabia’s alternative oil route around the closed Strait of Hormuz. Mohammed bin Salman begged Trump for US airstrikes, then backed “Dawn of Yemen,” a 100-warplane offensive aimed at Sanaa, as crude oil again tops $100 a barrel. Veteran war correspondent and analyst Elijah Magnier joins Rania Khalek and Zoe Alexandra on the Red Sea front, as nearly 1,000 Yemenis have been killed and 184,000 displaced since fighting resumed.

But Magnier argues Ansar Allah – often referred to in US media as the Houthis – hasn’t lost much ground. He explains why Saudi warplanes are largely powerless in Yemen’s mountainous terrain, and why he sees the movement advancing on Taiz and Marib. And Magnier breaks down how Hormuz and Bab el-Mandeb have become two fronts of the same war – different demands, same enemies – and how Israel’s quiet push into Somaliland could drag it directly into the Red Sea fight.

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(Bloomberg) — Saudi Arabia is in talks with customers to offer oil loadings next year outside the Strait of Hormuz in long-term contracts, formalizing a system the kingdom has been...