After The Escalation In Yemen: Brent Oil Prices Jumped

Brent crude oil prices rose two percent to $78.94 a barrel after the escalation of the situation in Yemen.

On Friday night, the US and Britain launched strikes against Yemeni Houthi targets in response to their attacks on international ships in the Red Sea. US West Texas Intermediate crude oil futures also rose in price.

Shelling of international ships in the Red Sea increased late last year because of the conflict in the Gaza Strip. The Hamas-backed Yemeni Houthis attack ships they link to Israel. Last night, the United States and its allies launched airstrikes against Houthi military targets in Yemen.