Middle East Crisis Escalates as Oil Surges Past $105 and Saudi Arabia Intercepts Houthi Ballistic Missiles

Oil prices have climbed past $105 as hopes fade for a breakthrough between the US and Iran. Meanwhile, Iran has reportedly presented the US with a road map for a regionwide ceasefire.

Amid the growing tensions, the UAE Central Bank has barred Bank Melli Iran from conducting transactions. Tragedy struck off the coast of Oman where an Indian sailor was killed after two torpedoes hit a merchant ship. In an apparent defiance of US sanctions, Iran flights are heading to China and Thailand.

At the United Nations General Assembly (UNGA), dramatic moments unfolded as a US delegate walked out on Iran's UNGA speech. Iran's president delivered a defiant address, declaring that "we will never bow our head" and advocating that there must be "security for all or no one."

Political and diplomatic maneuvers continue as Trump holds all the cards in the Iran crisis. Following a meeting, Barrack noted that Gulf states agree only on the need for a way forward. Trump posed a stark question to the UN regarding whether to annihilate Iran, while Antonio Guterres emphasized that the fighting must stop.

The situation escalated further as Trump cut his trip short following Houthi strikes on Saudi Arabia, which intercepted six ballistic missiles launched by the group. As the regional conflict spirals, Yemenis are fleeing to Djibouti.