US launches new strikes on Iran as oil prices skyrocket
The US military launched fresh strikes on Iranian targets on July 22, while Iran-backed Houthi rebels attacked Saudi oil tankers in the Red Sea, sending oil prices soaring. The US House narrowly passed a resolution to halt US military action in Iran, as Trump set conditions on a US-Saudi nuclear deal.
The United States military conducted a new series of strikes against Iranian targets on July 22, 2026, escalating tensions in the Middle East. The attacks came as Iran-backed Houthi rebels opened a second front, targeting Saudi oil tankers in the Red Sea. The assault on the tankers caused oil prices to skyrocket globally.
US President Donald Trump stated that the United States would hold Iran responsible for the Houthi attacks on Saudi tankers. The remarks heightened fears of a broader conflict in the region.
In a significant political development, the US House of Representatives narrowly passed a resolution to halt US military action in Iran. This marks the second time Congress has sent a warning to President Trump regarding the conflict, whose future remains uncertain. The military operations have already cost the US $37.5 billion.
Additionally, Trump set a new condition on the US-Saudi nuclear deal signed the previous day. He insisted that the agreement is "totally subject to" Saudi Arabia joining the Abraham Accords and normalizing relations with Israel. This move could reshape alliances in the Middle East.
