US Pauses Iran Strikes for Second Night as Red Sea Tensions Rise

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessUS Pauses Iran Strikes for Second Night as Red Sea Tensions RiseThe US paused its almost two-week run of strikes against Iran for a second night as skirmishes between Yemen’s Houthi militants and Saudi Arabia ratcheted up tensions near a global energy chokepoint in the southern Red Sea.Author of the article:Sara Gharaibeh and Arsalan Shahla You can save this article by registering for free here. Or sign-in if you have an account.p}ebbh5t{50]t1f2lvkeaa9(_media_dl_1.png Bloomberg RSS(Bloomberg) — The US paused its almost two-week run of strikes against Iran for a second night as skirmishes between Yemen’s Houthi militants and Saudi Arabia ratcheted up tensions near a global energy chokepoint in the southern Red Sea.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Iran-backed Houthis said they fired missiles and drones at facilities linked to oil giant Saudi Aramco in the port towns of Jizan and Yanbu on Saturday. There was no immediate confirmation from the Saudi government or Aramco. Saudi authorities briefly issued emergency warnings, before saying the danger had passed. A Saudi-led coalition responded by striking Houthi military positions later Saturday, according to Yemen TV, a channel affiliated with the country’s internationally recognized government. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAfter attacking Iran for 13 days, the US has apparently held off since Friday night without any explanation or announcement, raising further questions over President Donald Trump’s war strategy and the state of any negotiations. The Islamic Republic’s media and government haven’t reported any incoming attacks either. Talks between Iranian and Omani officials over the weekend indicated an attempt to resolve the crucial issue of navigation through the Strait of Hormuz, the flashpoint that caused the collapse of a ceasefire agreed in mid-June.In the meantime, the escalation in the Red Sea compounds an already severe squeeze on regional energy flows caused by the near-total stoppage of traffic via Hormuz, previously the conduit for a fifth of global crude supplies.On Friday, the Saudi-led coalition struck the port from which the Houthis’ maritime assaults in the Red Sea typically originate. The Houthis also announced they would blockade Saudi ports and attacked three Saudi-linked oil tankers in the sea.Any sustained disruption to Saudi Arabia’s Red Sea export routes, through which it’s sending millions of barrels of oil a day as a workaround, mainly from Yanbu, would likely push up crude prices even more.Brent crude has soared around 27% in the past two weeks as US-Iran clashes worsened and the Houthis effectively opened a second front in the war. The global benchmark closed on Friday at $96.78 a barrel.Trump, who‘s increasingly frustrated with Iran for refusing to reopen Hormuz, said late Friday the US is “locked and loaded” for major strikes on Iran. He added he had not made a decision on whether to go ahead, after telling Axios a few days ago he was mulling a “massive attack.”The New York Times reported that Trump and his advisers have decided to hold off plans to escalate the US strikes for now, in part over concerns that the war could drain the already-diminished stores of Patriot anti-missile interceptors and other air defense weapons in the region.Trump has consistently said “he prefers a diplomatic solution, but he continues to retain all options if Iran continues terrorist activities in the Strait of Hormuz or against allies,” White House spokesman Steven Cheung said in a statement. It would be “wise for Iran to work toward a negotiated deal.”This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.One ally described the president as being in revenge mode against Iran, while others said he’s looking to exact a cost from Tehran for the war, which has driven up energy prices and put Republicans in a tough spot politically ahead of the November midterms.Speaking at the White House Correspondents’ Dinner on Friday night, Trump said Iran would “love to make a deal” but he doesn’t think “it’s time yet.”He also said the warring sides were talking, though his administration is offering few details.The deputy foreign ministers of Iran and Oman met in Tehran on Friday and Saturday to discuss the management of maritime navigation in the Hormuz strait, the Islamic Republic’s Foreign Ministry spokesman Esmail Baghaei said on Telegram.“The talks were constructive and some progress was made,” Baghaei said, without giving details. He said technical and political consultations were ongoing and there had been no change in the status of traffic through the strait.The apparent new Houthi aggression in the Red Sea came despite a shaky truce between the Saudi kingdom and Yemen, which has been in a civil war for 12 years. The Houthis survived a roughly seven-year bombing campaign led by Saudi Arabia and the United Arab Emirates and still control areas containing most of Yemen’s population of over 40 million people. Iran is the main funder and sponsor of the Houthis, though the group is more autonomous than other proxies such as Hezbollah in Lebanon.How Iran Extends Its Power Via Allied Militant Groups: QuickTake—With assistance from Salma El Wardany.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.