Iran War Updates: Oil prices jump to near 4-month high as Oman-Iran talks on Strait of Hormuz postponed

Updated on: September 14, 2026 / 4:07 AM EDT / CBS News

The conflict in Yemen intensified on Sunday as government forces launched attacks against Iran-backed Houthi rebels along the Red Sea coast, and the Houthis fired into neighboring Saudi Arabia, which supports Yemen's government.

Yemen's government vowed to send more forces to the Red Sea coastal region as one official conceded a "painful" defeat last week as the Houthis captured the port city of Mokha and an island on the Bab el-Mandeb Strait. The strait is the southern gateway to the Red Sea, making it a crucial alternative shipping route for Saudi energy products with the Strait of Hormuz severely impeded by the U.S.-Iran war.

The escalation between the Houthis and the Saudi military has ratcheted up pressure on global oil supplies, pushing crude prices up toward four-month highs as it threatens to further choke Saudi Arabia's oil exports.

Oman's foreign minister said the country had to postpone a meeting Monday in Muscat with Iran and other regional countries to discuss the Strait of Hormuz.

Iran had said foreign ministers from regional countries would meet in Oman to discuss efforts by Iran and Oman, located on the other side…

Original source: https://www.cbsnews.com/entertainment/