Daily Market Updates: Yemen forces reclaim Red Sea port city, lifting oil risk

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Yemen forces reclaim Red Sea port city, lifting oil risk

Brent is trading around $100 a barrel as traders watch for possible supply disruptions from Middle East escalation.

Reported · Written up by our desk · Energy

Yemen forces have reportedly reclaimed a key Red Sea port city from Iran-backed Houthis in what is described as a major counteroffensive, according to CNBC Markets and CNBC World.

The development has kept oil markets on edge, with Brent crude trading around $100 a barrel amid concern about potential Middle East supply disruptions.

The risk of further escalation remains a factor shaping market sentiment around crude prices, the outlets said.

Latest closeWTI crude $91.10 ▲3.2%|Brent $103.93 ▲3.7%

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Sources

CNBC MarketsYemen forces reclaim key Red Sea port city from Iran-backed Houthis in major counteroffensive

CNBC WorldYemen forces reclaim key Red Sea port city from Iran-backed Houthis in major counteroffensive

Commodities

Yemen forces reclaim Red Sea port city, lifting oil risk

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Sources

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