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Tidbits, Crude Oil, Chinese Steel & Tariffs, FOB, Market Commentary 3/17/25

Writer: Wright teamWright team

Price of Crude Oil May Be Going Up


Last week, the Iranian-backed Houthis said they would resume attacks on Israeli vessels sailing off the coast of Yemen in response to Israel’s latest blockade on Gaza. The Houthis' warning affected the Red Sea, the Gulf of Aden, the Bab el-Mandeb Strait and the Arabian Sea.

 

President Trump ordered a series of airstrikes on the Houthi-held areas in Yemen on Saturday, promising to use “overwhelming lethal force” until Iranian-backed Houthi rebels cease their attacks on shipping along a vital maritime corridor. The Houthis said at least 53 people were killed, including 18 civilians.

 

Trump also warned Iran to stop supporting the rebel group, promising to hold Iran “fully accountable” for the actions of its proxy. It comes two weeks after Trump sent a letter to Iranian leaders offering a path to restarting bilateral talks between the countries on Iran’s advancing nuclear program. Trump has said he will not allow it to become operational.

 

Today, the Houthis claimed drone and missile strikes on the U.S. aircraft carrier «Harry Truman» in the Red Sea.

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