The strikes by Yemen's Iran-backed Houthi rebels could add to the pressure on global oil markets on top of disruptions caused by the closure of the Strait of Hormuz.

Trump vowed "major military punishment" for Tehran and its Houthi allies in Yemen after the Houthis said they struck two Saudi tankers in the Red Sea on Thursday.

Some tankers are avoiding the Red Sea and will sail to Asia through the Suez Canal after the Houthis began striking ships carrying Saudi oil in the waterway, a new report detailed.

Houthi rebels in Yemen announced the start of a maritime embargo on Saudi Arabia this week. The blockade covers the Bab el-Mandeb Strait, where 10-12% of international maritime trade passes.

Investors seem to have grown more worried about spending on AI, robotics, and other ambitions that might not pay off. July has been a horrible month for the stock prices of Elon Musk’s two publicly traded companies: Tesla (Nasdaq: TSLA) and SpaceX (Nasdaq: SPCX).

Shares in Tesla and SpaceX declined this week with Elon Musk's automaker suffering its worst slump since 2022. SpaceX dropped about 7% for the week ahead of a planned test flight of its massive Starship V3 rocket on Friday.

Just weeks after Elon Musk briefly reached trillionaire status on paper, Tesla took a sharp market hit. Shares fell by double digits after the company missed Wall Street earnings expectations and reported negative free cash flow for the first time in more than 2 years.

Elon Musk’s net worth was cut sharply as SpaceX shares fell, raising fresh questions about his trillionaire status and the volatility behind paper wealth.

What legal authority is Trump relying on? The latest tariffs rely on Section 301 of the Trade Act of 1974—used broadly during Trump’s first term on hundreds of consumer and in

The Trump administration’s trade fights are far from over, even after its big move on Thursday evening to maintain its elevated tariffs for 60 economies.

President Trump announced new tariffs of up to 12.5% to replace expiring Section 122 levies. Here are the rates for each country.

The United States imposed new tariffs of 10% and 12.5% on goods from 60 trading partners Friday, including the EU and China, alleging those countries failed to suppress

Kuwait Oil will enter joint venture with the three global giants in a lease-and-leaseback structure for a 20.5-year period that includes a volume-based tariff.

KPC has partnered with Blackstone, Brookfield, and KKR in a $16 billion pipeline leaseback transaction. The record-breaking deal will generate $7.85 billion upfront while KOC retains operational control.

Largest ever foreign investment in the Gulf state comes as it seeks to raise capital in face of Iranian attacks

Kuwait Petroleum Corporation (KPC) has signed a $16 billion deal to lease and lease back its crude oil pipeline network with a consortium comprising global funds Blackstone , Brookfield and KKR , the state-owned Gulf firm said on Saturday.