Oil prices surged Monday after Yemen’s Houthi group claimed responsibility for attacks on tankers in the Red Sea. Brent crude exceeded $98 per barrel, marking its highest level in months.
The attacks targeted multiple vessels, raising fresh concerns about security in a key global shipping corridor. Traders reacted swiftly, pushing crude prices higher amid fears of supply disruptions.
Bond yields remained elevated, hovering near 2026 highs. The yield on the 10-year Treasury note stayed above recent levels, reflecting persistent inflation expectations.
Stock markets showed mixed performance as energy shares gained. Meanwhile, technology and consumer stocks faced pressure from higher borrowing costs.
The geopolitical tensions added to uncertainty already present in financial markets. Investors weighed the potential impact on global trade and energy supplies.
The Houthi group stated the attacks aimed to pressure Israel and its allies over the conflict in Gaza. This marks an escalation in regional hostilities affecting commercial shipping.
Oil markets now face a volatile outlook, with analysts monitoring further developments. Any extended disruptions in Red Sea shipping could tighten global supply further.
