Commodities
Houthi Attack Drives Oil Prices Above $106, but Talks Offer Hope
Oil prices retreated on Friday in Asian trading after a Houthi missile attack on Saudi Arabia sent Brent crude above $106 a barrel, reviving fears of disruptions to Middle East supplies.
The attack pushed both Brent and WTI as much as 5% higher during the session before prices retreated from their intraday peaks.
Traders weighed fresh security risks against reports that Washington and Tehran are exploring a phased agreement to reopen the Strait of Hormuz, which could potentially ease supply concerns.