Rising tensions in Yemen fuel concerns over prolonged oil supply disruptions, pushing WTI crude to hold gains above $77.
Saudi Arabia has intensified military operations against Iran-backed Houthi rebels following attacks on its southern Najran province and Yemeni government forces. The escalation follows indiscriminate shelling that injured 11 civilians, including a child, prompting fears of a protracted conflict in the region.
The Saudi-led coalition, supporting Yemen’s internationally recognized government, vowed to take all necessary measures to protect civilians. Prior attacks have disrupted oil infrastructure, raising concerns over sustained supply risks amid already tight global markets.
WTI crude oil prices maintained Thursday’s recovery, trading near $77.50 as investors weighed the potential for extended disruptions. Risk sentiment remains fragile, with markets monitoring developments for signs of broader regional instability.