NPR News: 07-23-2026 12PM EDT

Lakshmi Singh· Host0:01

Live from NPR News, I'm Lakshmi Singh. Global oil prices are surging, at one point this morning past one hundred dollars a barrel, as fighting escalates in the Middle East. NPR's Hadiel Al-Shalchi has the latest from Istanbul.

Hadil Al-Shalchi0:14

The price for a barrel of Brent crude oil, the international standard, soared more than six percent to one hundred dollars as the Iranian-backed Yemeni Houthi rebels attacked two Saudi oil tankers in the Red Sea. The Houthis are blockading the Bab el-Mandeb Strait, a key shipping route which connects the Red Sea with the Gulf of Aden and the Indian Ocean. It's a second choke point for oil transportation besides the Strait of Hormuz. Trump threatened the Houthis, saying they would face, quote, "major military punishment" if they kept attacking ships. The rise in oil prices could inflate costs, which could force the Federal Reserve to increase interest rates. Hadiel Al-Shalchi, NPR News, Istanbul.

Lakshmi Singh· Host0:51

President Trump now says a new deal allowing American companies to build and run commercial nuclear power plants on Saudi soil will depend on whether the Arab kingdom normalizes relations with Israel. White House Press Secretary Karoline Leavitt says President Trump's demand is not new.

Karoline Leavitt· Soundbite1:07

He has said if they don't join the Abraham Accords, um, the deal is off.

Lakshmi Singh· Host1:11

Officials in Israel and nuclear non-proliferation experts have expressed concerns about the US-Saudi deal. The GOP-led House has voted in favor of a resolution to halt military action in Iran. Congress is about to break for the August recess. US senators leave town