Oil prices jump after Houthis attack two Saudi Arabian tankers in the Red Sea

Oil prices extended their gains as the the West Asia conflict escalated, threatening deeper energy supply disruptions.

Iran-backed Houthi militants said they attacked a couple of Saudi Arabian tankers in the Red Sea.

Brent increased 1.4% above $95 a barrel post closing at a six-week high in the earlier session. Meanwhile, West Texas Intermediate was close to $88 a barrel.

The Houthis said they fired drones and missiles at the two vessels -- Encelia and Layla -- for violating a blockade.

Just before the Houthi statement, the UK Maritime Trade Operations said a projectile had struck a ship southwest of Al Shuqaiq on Saudi Arabia's Red Sea coast, which had caused a fire on board. It did not identify the vessel.

These attacks are the first strikes on oil tankers in the Red Sea.