Iran preserved its missile and drone factories despite months of US-Israeli bombing, allowing it to replenish its arsenals during the current lull in fighting, Bloomberg reported on Saturdau. A Western official said Russia was also supplying Tehran with missiles, raising questions about the campaign’s success in weakening Iran’s military capabilities.
US and Saudi Arabia strike Iran-backed proxies in Iraq after missile attacks on Jordan
The standoff over the Strait of Hormuz continued as fighting intensified between Saudi-led forces and Yemen’s Iran-backed Houthis, who fired missiles and drones at Saudi cities. The escalation also threatened shipping through the Bab al-Mandeb Strait, another vital route for global energy supplies.
Although oil and gas shipments through Hormuz moved closer to normal levels, energy prices remained elevated as a worsening global tanker shortage drove up transport costs. Bloomberg reported that hiring a tanker to carry oil from the US to China cost about $80 million, exceeding the $74 million price of a standard commercial rocket launch.