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Oil rises after Houthi attack on Saudi capital

Both oil benchmarks rose on Monday

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Oil prices surged on Monday after Yemen's Iran-backed Houthi rebels carried out missile and drone attacks on Saudi Arabia's capital Riyadh, worsening Middle East tensions. The US$104.68 per barrel for Brent crude and US$101.06 per barrel for US West Texas Intermediate crude saw gains of 0.78 per cent and 0.76 per cent, respectively, as of 2202 GMT.

Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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