WTI crude rises over 2.4% on Houthi strikes, Iran blast report

This price action underscores how sensitive crude markets remain to headline-driven supply risk, even when the underlying reports are unconfirmed. The Kharg Island blast, if verified, could point to a direct threat to Iranian export infrastructure, which would be a more significant structural concern than the Houthi attacks alone. The key question is whether this is a short-lived geopolitical premium or the start of a sustained repricing of regional risk. Watch for official confirmation and whether other benchmarks follow suit, as that would signal broader market conviction.