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Barchart
Rich Asplund

Crude Prices Rally on Geopolitical Risks as U.S. Strikes Houthi Targets in Yemen

Oil OPEC Yemen Red Sea United States Middle East Vortexa

February WTI crude oil (CLG24) this morning is up +1.10 (+1.53%), and Feb RBOB gasoline (RBG24) is up +1.83 (+0.87%).

Crude oil and gasoline prices this morning rallied to 2-week highs on an escalation of geopolitical risks in the Middle East after the U.S. and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on commercial ships in the Red Sea.  A weaker dollar today (DXY00) is another supportive factor for crude prices.

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