oil Oil prices jumped as the United States and its allies launched air strikes against Houthi rebels in Yemen, intensifying retaliation for attacks on ships in the Red Sea that jeopardized fuel and cargo flows through the vital waterway.
President Joe Biden said the strikes were successfully carried out against a number of targets The Iranian-backed group uses them as radar sites and missile launchers, US officials said They were beaten. Global benchmark Brent crude rose 2.5% to above $79 a barrel as investors tried to gauge whether the strikes would spark a broader conflict in the Middle East.