War explodes as Red Sea shuts

Israel is laughing all the way to the White House, which it pwns.

• Houthis intensify: After attacking two Saudi oil tankers and extending their blockade of Saudi shipping.
• Houthi sources also say Aramco oil facilities could become a future target if the blockade on Yemen is not lifted.
• Trump intensifies threats of a “massive attack”: Trump said he is “close” to authorising a massive military strike and promised to punish Iran accountable for any further Houthi attacks.
• No negotiations are taking place, according to Rubio, who warned that Iran is “begging for a deal” and that Tehran will continue to “pay a very heavy price.”
• Bahrain,Jordan, and Kuwait reportnew Iranian missile and drone attacks, the US launched its 12th consecutive nigt of strikes against Iran.
• Until Iran’s security is guaranteed, oil sales in the Gulf will not take place, according to Iranian Parliament Speaker Mohammed Bagher Ghalibaf.
• Abbas Araghchi, the foreign minister of Iran, has threatened to take revenge on anyone who supports attacks againt infrastructure.
• Report: The United States informs Israel that it will step up its attacks on Iran.
• The United States investigates a potential Russian involvement in Iranian drone attacks on CIA locations.
• Israel is still attacking Gaza. assaults by Israel on the West Bank under occupation. Al-Aqsa compound is overrun by more than 4,200 settlers.Malaysia rejects pressure from the United States to lift its ban on Israeli nationals.
• The Israeli military carries out several operations in Lebanon when there is a “ceasefire.”
• Trump claims that normalising ties with Israel is a prerequisite for the U.S.-Saudi agreement.
• Brent crude surged back above $100.

Wood Mackenzie sums it up.