Commodities
US Weighs Massive Strike as Houthi Attacks Send Oil Prices Soaring
Oil prices dipped from multi-week highs on Friday but remained near USD 100/bbl after recent Houthi attacks on Red Sea tankers escalated tensions in the Middle East. The conflict has opened a new front, raising concerns about global energy supplies and prices.
The US is considering a 'massive attack' to counter the growing threat, according to reports. This move would be in response to the Houthi attacks on two oil tankers near the Bab-el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden.
Brent crude oil prices had surged to multi-week highs earlier in the week but retreated slightly on Friday. The price remains at a relatively high level due to ongoing supply disruptions and geopolitical tensions in the region.