Houthis Threaten Saudi Oil Exports; WTI Jumps Nearly $2
WTI crude oil surged from 78.37 to 80.29 after Houthi threats to target Saudi oil facilities if Saudi Arabia escalates actions.
USOIL
West Texas Intermediate crude oil saw a sharp rally during European trading on Thursday, dropping to an intraday low of 78.37 before recovering nearly two dollars to hit 80.29.
The move came after the Houthi group issued threats to target all Saudi Arabian oil sites and key facilities. The Houthis warned they would strike if Saudi Arabia escalates its actions against them. This threatens the last remaining viable export route for Saudi oil.
No further details on Saudi response have been reported.
Source: FXStreet Forex News