🔻$3 jump in oil prices after Houthis expand their control over Bab al-Mandab

While reports of new Houthi attacks on parts of Saudi Arabia were sent out in the early hours of Monday, oil prices in global markets reacted to the news with an increase of more than three dollars.

Brent oil was traded in the Monday morning markets at $108.20 per barrel—an increase of $3.60 compared with the previous rate.

This jump comes while no new clashes like those seen last week between Iran and the United States were reported in the past few days of the weekend, but the Houthis’ attacks on Saudi oil facilities intensified to the point that Riyadh was forced to halt operations at the “East-West” pipeline line facilities.