Oil Prices Rise Amid Escalating Middle East Tensions, Houthi Attacks on Saudi Arabia

Oil prices increased due to renewed concerns about energy supply disruptions in the Middle East. This follows continued fighting in Yemen, including Houthi attacks on Aden airport and a Saudi Arabian oil refinery, and speculation about potential U.S. strikes on Iran after upcoming midterm elections. The UN Security Council also condemned the escalating Houthi attacks against Saudi Arabia.