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An entirely new oil supply disruption.

From Marketplace, I'm Sabree Beneshore, in for David Brancaccio.

The latest in the Iran war.

Iran says U.S. demands are, quote, excessive and illogical.

The fighting continues, and oil prices continue their climb.

Brent Crude is up 15% in the week since President Trump claimed the U.S. and Iran were

talking, something

Iran continues to deny. Brent crude is now at $115 a barrel, and some of that is down to new

potential disruptions to oil supply. Marketplaces, Nova Safo has that.

Yemen's Houthi rebel group, which is backed by Iran, over the weekend fired at Israel for the first time since the conflict started.

This is significant in that the group has previously caused trouble through a different global shipping choke point called the Bab al-Mandeb Strait,

which essentially connects the Red Sea to the Indian Ocean.

Saudi Arabia has been diverting some of its oil shipments to that route

via an east-west pipeline that now carries about four and a half to five million barrels of oil

per day. If the Houthis once again fire its ships crossing the Red Sea passage, those barrels

would have to find another route out of Saudi Arabia, potentially further constraining the global oil supply.

That could lift prices even higher than they are now.

I'm Novasafo, for Marketplace.

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