Yemen Monitor / Newsroom:
Crude oil prices surged to their highest levels since March 4, following U.S. military strikes on the Houthi group in Yemen over the Red Sea during the weekend.
During the early Asian session, West Texas Intermediate (WTI) futures on the NYMEX rose by 1.5% to reach $68.19 per barrel, while Brent crude futures on the Intercontinental Exchange (ICE) jumped 1.42% to $71.58 per barrel before retreating. Additionally, natural gas futures rose by approximately 1% to $4.14 per million British thermal units during the same period.
Moreover, China announced a special plan to boost domestic consumption, along with a series of positive economic data.
Retail sales in China increased by 4% in the first two months of this year, accelerating from a 3.7% rise in December.
