Oil Jumps Following Air Strikes on Houthi Rebels in Yemen; Equities Higher
Posted on AllSides January 12th, 2024
From The Center
Crude-oil prices jumped after a U.S.-led coalition launched air strikes against rebel Houthi targets in Yemen, raising concerns of a further escalation of conflict in the Middle East that could disrupt oil and gas supply. Front-month Brent crude oil futures rose nearly 2% immediately after the U.S. and U.K. launched the strikes, and were up 2.6% to $79.40 a barrel early in Europe. U.S. benchmark WTI futures rose 2.7% to $73.98 a barrel. European natural gas prices also rose, with benchmark Dutch TTF up 2.1% to EUR31.43 a megawatt hour....
