Oil prices continued to climb on Monday following fresh tensions in the Middle East, after Yemen’s Iran-aligned Houthi group launched its first attacks on Israel since the start of the U.S.-Israel conflict with Iran.
The escalation has raised concerns over further instability in the region and potential disruptions to global energy supplies.
Brent crude futures rose by $3.16, or 2.81%, reaching $115.73 per barrel after already gaining 4.2% in the previous session.
Meanwhile, U.S. West Texas Intermediate (WTI) crude increased by $3.13, or 3.14%, to $102.77 per barrel, following a 5.5% rise earlier.
Analysts say the widening conflict is adding pressure to already volatile oil markets, with fears that prolonged tensions could impact global supply chains.
Source: Reuters
