Oil Trades Near $107 as Houthi Saudi Fighting Escalates The ongoing conflict between the Houthi rebels and Saudi Arabia has driven oil prices to nearly $107 a barrel, sparking concerns about global supply chains and regional stability.
This escalation comes at a critical time for the world's oil markets, which are already grappling with the aftermath of the COVID 19 pandemic and a global economic slowdown.
Understanding the Ongoing Conflict and Its Impact on Oil Prices At its core, the Houthi Saudi conflict is a sectarian dispute rooted in historical grievances and territorial claims.