Gulf states cancel Hormuz talks as Houthis strike Saudi airbase, oil tops $107

Iranian officials confirmed that a meeting with Gulf states to discuss the Strait of Hormuz has been postponed, hindering efforts to reopen the waterway. Gulf states cancelled the talks following Houthi strikes on a Saudi airbase. These rising tensions and disrupted oil routes have pushed oil prices above $107. Such instability in the Gulf region could further exacerbate global energy prices, potentially impacting international economic stability and increasing inflation rates across various global markets.