Iranian Revolutionary Guards seize foreign oil tankers. Oil prices continue to rise.
In the past week, crude oil prices have increased by about five dollars. The decisive factor is increasing tensions in the region around the Red Sea. Three US soldiers were killed in a drone attack in Jordan over the weekend. US President Joe Biden has blamed a pro-Iranian group for the attack and the death of three US soldiers. He promised retaliation. The Suez Canal connects Asia with Europe. This transport route is currently largely avoided because Houthi militias supported by Iran repeatedly attack ships.