Trump threatens strikes on Iranian power plants over Hormuz attacks
Why it matters: Brent crude climbed above $94 a barrel as tanker reroutings spread from Hormuz to the Red Sea.
President Donald Trump threatened Wednesday to destroy an Iranian bridge or power plant each time Iran fires on a ship in the Strait of Hormuz, escalating a conflict that has already disrupted two of the world’s key oil chokepoints. The warning came after Houthi forces in Yemen threatened shipping near the Bab el-Mandeb Strait, prompting tankers carrying Saudi crude to change course in the Red Sea. Iran’s military and Foreign Minister Abbas Araqchi warned that any attack on Iranian infrastructure would trigger retaliatory strikes on regional oil, gas, electricity and other economic targets. US strikes continued overnight, while alerts sounded in Bahrain and Saudi Arabia and Iran reported civilian casualties since late June.