Trump Reverses Himself on Houthi Strikes, Oil Prices Take a Hit
US President Donald Trump's stance on striking the Houthis in Yemen has been reversed twice, according to the New York Times. Initially, Trump told advisers that he did not favor such strikes, but Saudi Crown Prince Mohammed bin Salman pressed him to launch American airstrikes against the Iran-backed Houthi movement in Yemen.
Following a call with the crown prince, Trump briefly ordered the Pentagon to prepare for military action before reversing course days later. The pressure on Trump rose after the Houthis fired a ballistic missile at Riyadh, which Saudi forces intercepted, and claimed attacks on sensitive sites in the capital.
The market reaction has been muted, with West Texas Intermediate (WTI) oil down 1.74% to $93.60 at the time of writing.