Oil rises on fears of heightened tensions in Middle East


oil rig2

TOKYO: Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions.

Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally, after prices gained around 5% last week.

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Oil and gas , Brent , WTI , Yemen , Middle East , Houthi

   

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