Oil prices climbed after the United States and Britain launched airstrikes against Houthi targets in Yemen for attacks on ships in the Red Sea that have slowed flows of fuel and goods through the waterway.
Brent crude rose 1.14% to settle at $78.29 a barrel, while West Texas Intermediate (WTI) rose to settle above $72 a barrel.
Prices rose early in the session before paring their gains alongside stocks as investors gauge whether or not the escalation will spark more regional crises.
Prices:
TI CRUDE • 72.68 +0.66 +0.92%BRENT CRUDE • 78.29 +0.88 +1.14%
MURBAN CRUDE • 78.33 +0.65 +0.84%
NATURAL GAS • 3.313 +0.216 +6.97%
Follow the latest news on Google News
