The ongoing U.S. conflict with Iran has already cost the U.S. an estimated $37.5 billion, according to Hegseth.
RIYADH: A Saudi vessel came under attack in the Red Sea on Thursday as Iran backed Houthi forces claimed responsibility for strikes on multiple oil tankers, the attack raised concerns over shipping security and the risk of a wider regional conflict as tensions between the United States and Iran continue to escalate.
The Houthis had previously threatened to blockade Saudi ports along the Red Sea, a critical route for oil shipments, as the broader five month war has already led to the effective closure of the Strait of Hormuz, another vital corridor for global crude supplies.
UKMTO WARNING 095-26
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— UKMTO Operations Centre (@UK_MTO) July 22, 2026
The Houthis said they carried out missile and drone strikes on two Saudi tankers, identified as the Encelia and the Layla. The U.K. Maritime Trade Operations agency said a tanker’s captain reported being struck by an unidentified projectile roughly 70 nautical miles southwest of Al Shuqaiq, sparking a fire that the crew worked to contain, Saudi Arabia confirmed the Encelia had been hit, without commenting on the second vessel.
The claim came as the U.S. launched fresh strikes on Iranian military targets, prompting retaliatory attacks on Kuwait. In the Strait of Hormuz, Iran’s Revolutionary Guards (IRG) said they blocked three oil tankers from passing through the waterway, warning that any vessel attempting to cross without coordinating with Iran would face consequences.
Our defense doctrine is clear: eye for an eye.
Any aggression against Iran, including our infrastructure, will compel a powerful and decisive response.
Those who contribute to such aggression, whatever the kind of support, will also be considered as legitimate targets.
— Seyed Abbas Araghchi (@araghchi) July 22, 2026
President Donald Trump reiterated a warning that the U.S. would strike Iranian infrastructure each time Iran targets a vessel in the strait. Iranian Foreign Minister Abbas Araghchi responded on social media, saying Tehran’s defense doctrine remained clear “eye for an eye.”
The conflict has already cost the U.S. an estimated $37.5 billion, according to Defense Secretary Pete Hegseth, up sharply from roughly $29 billion in mid May.
U.S. Central Command reported a twelfth consecutive night of strikes on Iranian targets beginning Wednesday evening, aimed at limiting Iran’s ability to threaten commercial vessels.
