Oil prices

Through the Red Sea

Plus: Permits for prayer, a rise in gambling, AOC's world, and more...

Liz Wolfe | 7.23.2026 9:30 AM

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Oil prices surge: Yesterday, Houthi terrorists struck two Saudi oil tankers in the Red Sea, sending oil prices up to $99 a barrel. The strikes "threatened to broaden the conflict by creating a second choke point on global shipping, in addition to the Strait of Hormuz, which Iran has effectively closed," per The New York Times.

President Donald Trump, too, is escalating: "From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran," he wrote on Truth Social. "Thank you for your attention to this matter!"

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Technically, since the Houthis are not Iran (just backed by them), and since the Saudi strike wasn't in the Strait of Hormuz but in the Red Sea, yesterday's attack probably won't warrant a U.S. bombing. But it's a very bad sign that a second shipping corridor—the Bab al-Mandab Strait—is now threatened, as this is likely to send oil prices surging even higher.

"On Tuesday, [Trump] said U.S. military forces........

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