Commodities
Houthi Attacks Spark Oil Price Surge as Brent Crude Jumps Above $106
Crude oil futures surged on Thursday after a series of Houthi attacks on Saudi targets raised concerns of escalation in the Middle East.
The attacks, which included six ballistic missiles fired by Iran-backed Houthis, were intercepted by the Saudi-led coalition in Yemen, according to reports.
The incident led to a jump in Brent crude prices, which rose above $106 per barrel. The USO ETF, which tracks oil prices, also saw an increase as investors sought safe-haven assets amidst the volatility.