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WTI Up 1.5% On Reports US/UK To Strike Houthi Targets In Yemen

OIL

Oil prices are pushing higher in early Friday trade. The front month WTI contract, is up through $73/bbl, after closing near $72/bbl for Thursday's session. This is a gain of a little over 1.5%. This move follows headlines that the US and UK will conduct joint military strikes against the Houthis based in Yemen. Latest headlines from Rtrs suggests the strikes are currently taking place.

  • The follows Houthi attacks on commercial shipping in the Red Sea over recent months, see this BBG link for more details.
  • For WTI, we remain sub recent highs between $73.50-$74.00/bbl, while Jan 5 highs were at $74.24/bbl.

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