Oil Prices Plummet Amid Mideast Tensions

Global oil prices fell to $104 on Friday despite intensifying clashes in the Middle East. The U.S. futures rose, while world shares were mixed following Wall Street losses.

The Houthi rebels captured a strategic island in the Bab el-Mandeb Strait at the entrance of the Red Sea, further threatening oil exports by Saudi Arabia through one of the world's key commercial lanes.

Oil prices had risen earlier this week above $108, but eased on Friday. Brent crude was 3.6% lower at $103.74 per barrel, while benchmark U.S. crude fell 3.4% to $99.02.