HomeBusinessOil Jumps as US Airstrikes Against Houthis Fan Mideast Tensions

Oil Jumps as US Airstrikes Against Houthis Fan Mideast Tensions

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Oil jumped as the US and allies launched airstrikes against Houthi rebels in Yemen, stepping up retaliation for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.

President Joe Biden said strikes had been successfully conducted against a number of targetsBloomberg Terminal used by the Iranian-backed group, with US officials saying radar sites and missile launchersBloomberg Terminal were hit. Global benchmark Brent crude rose as much 2.5% to above $79 a barrel as investors attempted to gauge the likelihood of whether the strikes will spark a broader conflict in the Middle East.



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