Live updates: Oil nears $100 as Red Sea attacks mark new escalation in Iran conflict - CNN

What the report says

CNN reported that oil prices rose to around or above $100 a barrel as attacks on shipping added a new maritime dimension to the widening US-Iran conflict. Yemen’s Iran-backed Houthi rebels targeted Saudi ships in the Red Sea, raising concerns that another major export route could be disrupted while the Strait of Hormuz is already described as effectively choked. President Donald Trump said Washington would hold Tehran responsible for future attacks on ships in the region and said damage to vessels or cargo could be covered using Iranian funds held or controlled by the United States.

Iranian Foreign Minister Abbas Araghchi rejected that idea, warning on X that using another country’s assets for future claims would set a dangerous precedent. CNN noted that the release of frozen Iranian assets had been a key issue in a June memorandum of understanding between Washington and Tehran, though the network reported that neither side is honoring that arrangement. Estimates cited by Iranian media and analysts put frozen Iranian assets globally in the range of $124 billion to $167 billion.

The military conflict also continued. US Central Command said it completed a 13th consecutive night of strikes against Iran, targeting command centers, drone storage facilities, communications networks, coastal surveillance sites and maritime capabilities. Iranian state media reported at least four deaths in Khuzestan and additional strikes or injuries in other provinces; CNN said it could not independently verify those reports.

Politically, CNN reported that the US House voted to stop the Iran war without congressional approval, while a similar Senate measure failed. The votes did not force an end to the conflict but reflected unease over Trump’s use of war powers.