Middle East Airstrikes Spark Oil Price Surge and Market Uncertainty
The US and its allies conducted airstrikes on Houthi targets in Yemen in response to attacks on merchant vessels, leading to a surge in oil prices amid concerns of further shipping disruptions and regional conflict escalation. Analysts predict that WTI could surpass $75 and Brent could exceed $80, with warnings of heightened risk if the conflict spreads to the Persian Gulf.