Oil Prices Rise After Red Sea Tanker Attacks, Trump Warns of Military Response

Why it matters locally: Rising oil prices, driven by global events like the Red Sea tanker attacks, will likely lead to increased gasoline costs for Colorado residents and businesses. Given Colorado's significant oil and gas industry, these international price shifts could also influence local production decisions and investment.

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International oil prices exceeded $100 a barrel after Houthi rebels in Yemen claimed responsibility for striking two oil tankers in the Red Sea. This development raised concerns about potential disruptions to global energy supplies. In response, President Trump issued a warning. He stated that the United States would inflict 'major military punishment' if the Houthis attacked another ship. President Trump also cautioned about the possibility of escalation within Iran. Journalist Nick Schifrin reported on these events.