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Oil Remains Supported Monday by Red Sea Escalations

OIL

US fighter jets shot down a Houthi cruise missile fired from Yemen towards a Navy destroyer operating in the Red Sea as 4:45pm local time Sunday.

  • It was fired at the USS Laboon US Central Command said via X Monday.
  • The Houthi missile launch followed further strikes on Houthi targets by the US and UK fighter jets.
  • “On Jan. 14 at approximately 4:45 p.m. (Sanaa time), an anti-ship cruise missile was fired from Iranian-backed Houthi militant areas of Yemen toward USS Laboon (DDG 58), which was operating in the Southern Red Sea. “ US Central Command said on X.
  • The US also launched an airstrike on a Houthi rebel radar installation on Friday.
  • US and UK air strikes have been launched in an attempt to hamper Houthi ability to disrupt international shipping passing the Red Sea that have become increasingly more severe in recent weeks.
  • Further air strikes by the US/UK have helped add support to oil on Monday while growing levels of ships avoiding the passage have prompted overall strength over recent days.
Energy BulletsCommodities
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