An unknown projectile struck the Panama-flagged El Gaia, damaging its engine room and starting a fire. Iran's foreign minister said only negotiations could end the conflict, but warned of a stronger response to any further military action.
Brent crude briefly hit nearly $120 a barrel after Iran closed the Strait of Hormuz, cutting passage for 15 million barrels a day. Global growth forecasts have barely moved, but inflation is rising and the supply workarounds won't last forever.
Fires at energy installations in four southern Saudi cities forced a temporary halt to operations, wounding 73 people including children. A Houthi spokesperson warned that a broader operation deep into Saudi Arabia was still to come.
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