Commodities
Houthi Strike on Saudi Tanker Boosts Oil Prices Amid Ongoing Conflict
Oil prices rebounded after Yemen's Iran-backed Houthis claimed they had struck a Saudi Arabian tanker in the Red Sea, dashing hopes of a potential ceasefire agreement.
The reported strike came as the US, Iran, and Oman hold talks to stabilize the volatile security situation in the Strait of Hormuz. The negotiations aim to clarify the terms of ending the war between the two sides.
Brent crude rose 1% to $80.22 per barrel, while U.S. West Texas Intermediate futures traded 0.46% higher at $76.12.