Oil futures moved up Thursday to trade near the day’s highs, buoyed by news of heightened tensions in the Middle East.
Tasnim New Agency reported that Yemeni troops launched retaliatory missile attacks against Saudi troops in Jizan and Haradh, Saudi Arabia.
The new agency said Yemen’s al-Masirah news website reported that more than 30 Saudi troops were killed and injured after the missile attacks.
“Oil got a pop on this headline. It complicates U.S/Iran talks as well,” said Phil Flynn, senior market analyst at Price Futures Group. October West Texas Intermediate oil CLV19, -1.99% rose 81 cents, or 1.4%, to trade at $57.05 a barrel on the New York Mercantile Exchange after a $57.29 high. November Brent crude BRNX19, -1.64% traded at $61.80, up $1.10, or 1.8%.
“Oil prices have fallen because of rocket attacks by the army and popular committees” the Financial Times reported.
The news stressed that Saudi oil prices recorded a decline of 3% after these strikes.
