Houthi Attack Pushes Oil Prices Above $80

The Yemeni Houthi rebels have launched an attack on Saudi Arabia's Najran province, killing 11 civilians and sparking further escalation in Middle Eastern hostilities. This incident follows reports that Iran is considering a ban on vessels deemed hostile in the Strait of Hormuz, with plans to fine violators 20% of their cargo's value.

The Houthi attack has pushed oil prices higher, with Brent crude recovering above $80 and trading at $83.80 per barrel. West Texas Intermediate also rebounded, trading at $78.33 per barrel earlier in the day.