2024-01-12T04:36:20+00:00
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/ Oil prices rose more than two percent on Friday as the United States and Britain carried out strikes against Houthi military targets in Yemen in response to attacks by the Iranian-backed group on shipping in the Red Sea starting late last year.
Brent crude futures rose $1.53, or 2%, to $78.94 per barrel, while US West Texas Intermediate crude futures rose $1.53, or 2.1%, to $73.55 by 0337 GMT.
Benchmark indices increased gains of about 1% from the previous day, ensuring that prices are on track to achieve a second consecutive weekly rise.
The US and British strikes are one of the most dramatic demonstrations to date of the expanding scope of the war between Israel and Hamas in the Middle East since it broke out in October. Witnesses in Yemen confirmed that explosions had occurred across the country.