Oil Prices Surge Amid US-Iran Tensions and Houthi Blockade Threats
Oil prices have risen to a five-week high due to escalating tensions between the U.S. and Iran, coupled with threats from Yemen's Houthi rebels to blockade Saudi Arabia. Brent crude futures increased by 2.4% to $91.34 per barrel, while U.S. West Texas Intermediate Crude rose by 2.2% to $85.03. The market is reacting to fears of further disruptions in the Middle East, a critical region for global oil supply. Recent U.S. military actions against Iranian targets and the Houthi threats have heightened concerns about energy security and trade routes, particularly in the Strait of Hormuz and the Red Sea. 
