Houthi Attacks on Saudi Deployments Send Oil Prices Soaring

Oil prices rose on Thursday after Iran-aligned Houthis said they attacked 'Saudi deployments' in Yemen, escalating concerns about Red Sea shipping.

The attack has ramped up tensions and raised questions about the safety of oil tankers passing through the region.

'The market is going up and down as tensions rise and fall,' said John Kilduff, partner at Again Capital. 'These attacks are a significant development because it's more activity in another theatre, away from the Persian Gulf.'

The attack has also highlighted concerns about the Red Sea passageway, which could be in jeopardy.