Houthi strikes, rogue AI and Ukraine's kill zone
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Hi, I'm Kim Vinnell in Whanganui, New Zealand. It's Thursday, July 23rd. Today. The Houthis attack Saudi oil tankers, closing in on another key oil route. Iranian strikes on CIA facilities raise questions about Russian involvement. An open AI model goes rogue during testing. And Reuters takes on the kill zone on Ukraine's front lines. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week.
How are Houthi attacks disrupting oil shipments in the Red Sea?
The Iran-aligned Houthis have made good on a threat to impose a naval blockade on Saudi Arabia to stop it exporting oil through the Red Sea. Houthi military spokesperson Yahya Sari says the Yemen-based group attacked two tankers using ballistic missiles, cruise missiles and drones. It's a significant escalation, as it means a potential second chokehold on world oil supplies, in what analysts view as a tactical move by Iran to get leverage in its war with the U.S., Iran is still trying to assert control over the other oil export route in the region, the Strait of Hormuz. Oil prices have now reached a six-week high. We'll have a breakdown of the market impact in a bit, but first, two more updates related to the war.
The yeas are 216, the nays are 212, the bill is passed.
The US House of Representatives has passed a new defense spending bill authorizing more than a trillion dollars in spending for the US military. Supporters of the bill say the money is needed given the ongoing fight with Iran to fund the development of defense systems and to buy equipment, as well as to give troops more benefits. A Senate version of the bill still needs to be passed before Armed Services Committee negotiators agree on a compromise version. That version must then pass each chamber before President Trump can sign it into law. Iranian drone attacks on CIA facilities in the Gulf are prompting US intelligence analysts to explore whether Russia helped. Sources have told Reuters the US isn't entirely sure one way or the other yet, but the way the strikes were carried out are being seen as potential evidence.
National security reporter Jonathan Landay explains.
It's the precision, I think, that has the main piece of evidence that's got intelligence analysts looking into this question. But also, let's not forget that Iran and Russia have been cooperating on drones and drone technology for at least two to three years. Russia purchased and then began making its own version of the Iranian Shaheed 136 drone. The Russians improved their version using a guidance system of their own device. And the question is whether or not, at least one of the questions that's been raised is whether or not there is any evidence that they've supplied Iran with this guidance system. At this point, there is no evidence, but we do have sources who are telling us that Russia did contribute technological upgrades to the drones that were used against the U.S.
embassy in Riyadh, Saudi Arabia, and that helped with the precision strike that ended up damaging the CIA station inside the embassy.
Now to markets and an update from Mike Dolan, host of our sister markets podcast, Morning Bid.
So yes, oil markets are tightening yet again today. Brent crude almost hitting $98 a barrel, putting the $100 a barrel psychological level back in focus. The reasons are very clear. We've now got almost two weeks of escalating violence in the Middle East, which has expanded to the Red Sea and is worrying about oil markets there as well, because Saudi tankers turning back yesterday, European Union warning its ships not to go there. It all is creating a very big supply crunch yet again. And that's affecting the interest rate markets, the bond markets and the broader markets with the European Central Bank meeting today. They'll look at natural gas prices, for example, and feel this is going to be a worry for inflation going forward.
Thanks, Mike. You can catch MorningBid wherever you get your podcasts.
Now, what happens when artificial intelligence designed to be contained finds a way out?
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