Oil hits 2015 peak as Saudis resume strikes on Yemen

London

BRENT oil prices jumped last week to the highest level so far this year, as the latest Saudi-led air strikes on Yemen stoked supply tensions in the crude-rich Middle East.

Elsewhere, precious metal gold sank on sliding safe-haven demand as a result of easing tensions over Greece.

Brent prices last Friday hit a four-month peak of US$65.80 per barrel, the highest level since Dec 10, as Saudi-led coalition warplanes again hit Yemen.

"Saudi Arabia's renewed bombing campaign in Yemen sent crude oil higher, with Brent rising to new 2015 highs," said CMC Markets analyst Jasper Lawler.

"Crude oil prices rebounded to reach four-month highs following news that Saudi Arabia renewed its aerial assault in Yemen to target the Shi'ite rebels," added senior energy analyst Myrto Sokou at the Sucden brokerage in London. "Brent front m…