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Oil prices rise as Iran war escalates with Houthi attacks Oil prices climbed above $116 per barrel after markets opened Sunday, as Iran-backed Houthi militants fired missiles and drones at Israel over the weekend and promised to continue attacks. Why it matters: The increase came as the war moved into its fifth week, showing little sign of abating despite President Trump's talk of diplomacy. Driving the news: The global benchmark Brent crude rose 3.3% to $116.25 per barrel. WTI, the main U.S. reference, was also up about 3% to nearly $103 per barrel. The big picture: More than 3,500 U.S. troops, including about 2,500 Marines, arrived in the Middle East, officials said Saturday. The speaker of Iran's parliament, Mohammad Bagher Ghalibaf, threatened to set U.S. troops "on fire" and step up attacks on American allies, according to Iranian official media. The Houthis claimed responsibility for a missile attack on Israel on Saturday, raising concerns about the rebel group entering the fighting. Israel said it intercepted the missile from Yemen — the first time it has seen an attack from that country since the war began. https://www.axios.com/2026/03/29/iran-war-oil-markets-houthi-israel-attacks IDF says almost done targeting ‘critical’ Iranian military sites as waves of strikes hit Tehran US VP says Washington will keep war going ‘for a little while longer’ to ensure Islamic Republic is truly ‘neutered’; Israel strikes HQ of Iranian naval weapons and ship producer. Twelve U.S. troops wounded in Iran strike on base in Saudi Arabia, U.S. official says Twelve ‌U.S. troops were wounded, ‌two of them ⁠seriously, in an Iranian ⁠military strike on Prince Sultan Air Base in Saudi Arabia, a U.S. ‌official told Reuters on ‌Friday. The latest casualties add to the more than 300 U.S. military service members who have been wounded since the ⁠war against Iran started on February 28. Earlier ‌on ⁠Friday, the U.S. ‌military said 273 of them had already returned ⁠to duty. Thirteen U.S. troops have been killed in the ‌conflict. Yemen's pro-Iran Houthis threaten to join war if Israel, U.S. use Red Sea to attack Iran Yemen's Iran-aligned Houthis announced that they will join the war if Israel or the United States use the Red Sea to attack Iran. The group said it will also join the conflict if other "allies" join Israel and Washington in their war against Iran. https://www.haaretz.com/israel-news/israel-security/2026-03-27/ty-article-live/.premium/report-trump-weighs-sending-another-10-000-ground-troops-to-the-middle-east/0000019d-2cfb-dc71-a7ff-effbe4250000?liveBlogItemId=475582773#475582773 IDF says it bombed two Tehran facilities that made long-range naval cruise missiles. Iran military says US is negotiating with itself: We ‘can never get along’ US notified Israel before presenting Iran with Trump’s conditions for ending war — official * No direct injuries reported in overnight Iranian missile attacks https://www.timesofisrael.com/liveblog-march-25-2026/ Trump says talks with Iran progressing, as Israel said to fear premature ceasefire Hebrew report say Washington sent Tehran 15 conditions for a deal, and summit could take place in Pakistan within days; US president says regime gave US ‘very big present’ Trump: Deal with Iran to end war close; Israel will be happy; strikes on energy sites postponed US president claims Iran will hand over enriched uranium, refrain from seeking nukes; Iran denies talks; parliament speaker Qalibaf, said leading Tehran’s side, derides ‘fake news’; Netanyahu says Trump told him of chance to achieve war goals through a deal Trump: U.S. in Truce Talks With Iran Aimed at 'Long-term, Guaranteed Peace for Israel' An Israeli official said the U.S. is holding direct contacts with the speaker of Iran's parliament, who denied the claim as 'fake news' designed to manipulate oil markets. Pakistan is taking the lead as mediator, and a meeting could take place in Islamabad this week, a source said. IDF chief: Fight with Hezbollah ‘only just begun’; Spokesperson: War to go on several more weeks Iran fires 10 salvos at Israel Sunday * 7 IDF soldiers lightly wounded today in Lebanon, northern Israel * US said to tell Israel: Hormuz operation will take weeks; we won’t let Iran hold world hostage Over 100 injured, 11 seriously, in Iranian missile strikes on southern cities of Arad, Dimona Two children in serious condition after air defenses fail to intercept missile fire apparently aimed at nuclear research facility near Dimona; Iran claims salvo was retaliation for US strike on Natanz ( (https://www.timesofisrael.com/ )