Oil prices tick up after Houthi missile and drone strike on Riyadh
Oil benchmarks rose on Monday following a missile and drone attack by Yemen’s Iran-backed Houthis on Saudi Arabia’s capital Riyadh.
The Iran-aligned Houthi movement launched missiles and drones at Riyadh on Saturday, raising concerns over Middle-East stability. In response, Brent crude gained about 81 cents to $104.68 a barrel and U.S. West Texas Intermediate rose roughly 76 cents to $101.06. Traders linked the price moves to heightened regional risk and the ongoing U.S.-Iran stalemate.
Why it matters
The strike shows how Middle-East conflicts can quickly affect global oil markets and fuel price stability.
In this story
oil pricesHouthi attackRiyadhBrent crudeWest Texas IntermediateMiddle East tension
