Updated

Oil prices rose as concerns mounted over Houthi attacks on Saudi Arabia and continued Iranian tanker attacks in the Strait of Hormuz, offsetting a recovery in Middle East crude supply. Nearly 20 commercial vessels, mostly tankers, have reportedly come under attack passing through the Hormuz chokepoint over the past month, raising fears about the security of regional oil exports. Singapore's foreign minister said Trump is not "completely wrong" in arguing that Asian economies, which depend heavily on energy shipped through Hormuz, should bear more responsibility for keeping the waterway open. The comments add a geopolitical dimension to the ongoing Strait of Hormuz standoff, as rebounding oil exports through the chokepoint remain vulnerable to further escalation. Markets are watching for signs that disruptions could tighten global crude supply and keep energy prices elevated.