U.S. crude oil futures experienced a notable increase of 40 cents, marking a 0.6% rise from their original price, and settling at $67.58 per barrel. This increase in oil prices was observed on Monday following a series of U.S. airstrikes targeting the Houthis, a militant group based in Yemen, over the weekend. Concurrently, President Donald Trump issued a stern warning on the social media platform Truth Social, declaring that Iran would be held accountable for any future attacks initiated by the Houthis.
The airstrikes were part of a continued effort by the United States to curb the threats posed by the Houthis, who have repeatedly targeted commercial shipping in the region. President Trump's statement underscored the U.S. stance on holding Iran responsible for the actions of the Yemeni militant group.
"Every shot fired by the Houthis will be looked upon, from this point forward, as being a shot fired from the weapons and leadership of IRAN." – Donald Trump
In the wake of these developments, global oil markets responded with heightened activity. The global benchmark Brent crude also saw an uptick, trading 44 cents higher, which represents a 0.62% increase from its previous price, reaching $71.02 per barrel.
The escalation in oil prices reflects market reactions to geopolitical tensions and potential disruptions in oil supply routes. Traders and investors are closely monitoring the situation as any further conflict or instability in the region could lead to more significant impacts on global oil markets.
The Houthis' persistent aggression toward commercial vessels has been a point of contention, drawing international attention and response. The U.S. airstrikes represent a clear message of deterrence against these militant actions.