Oil prices climbed in early Asian trade as escalating Middle East tensions raised supply-disruption fears. Houthi militants claimed attacks damaging two Saudi airports, while their recent offensive against Saudi-backed Yemeni forces expanded their control over the Bab al-Mandeb Strait, a critical global energy chokepoint. Analysts noted that renewed Houthi attacks in Saudi Arabia combined with storm-related U.S. Gulf production shut-ins drove the rally.
Front-month WTI crude futures rose 1.0% to $89.14 per barrel, and Brent futures gained 1.0% to $101.24 a barrel.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing