Oil prices rose sharply on Thursday as renewed Middle East tensions increased concerns about energy supplies, with Brent crude reaching about $107 a barrel. Reuters reported that crude prices jumped roughly $4 a barrel as investors reacted to another escalation in the region.
The move followed a statement from Yemen's Houthis saying they had attacked Saudi military sites in Jazan. That specific attack claim was not independently verified in the immediate reporting and should be treated as an attributed Houthi claim.
Regional conflict has already placed pressure on shipping, oil infrastructure and alternative export routes across the Gulf and Red Sea. Recent disruptions and threats involving Saudi energy infrastructure have made crude prices particularly sensitive to new military developments.
Higher oil prices also weighed on US equities and bond markets on Thursday. More expensive energy can reinforce inflation concerns and affect expectations for interest rates and borrowing costs.