WTI crude rebounds to $81.35 after Yemen’s Houthis announce immediate maritime embargo against Saudi Arabia.
Yemen’s Houthi group declared a naval blockade against Saudi Arabia, effective immediately, escalating regional tensions. The move, announced by a military spokesperson, lacks details on enforcement but triggered a rebound in oil markets.
West Texas Intermediate crude, which dipped below $80 earlier in the session, climbed to $81.35 following the announcement. The commodity pared some of Monday’s losses but remains down 0.48% on the day, reflecting cautious sentiment amid geopolitical uncertainty.
Oil prices reacted swiftly to the headline, underscoring market sensitivity to Middle East supply risks. No further operational details were provided by the group.