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Oil prices surge after Saudi air strikes in Yemen

Military operation raises concerns about security of Middle East shipments

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Published Thu, Mar 26, 2015 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    London

    BRENT crude oil soared more than 4 per cent towards US$59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, which sits on a key shipping passage between Europe and the Arab Gulf.

    The air strikes against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of Middle East oil shipments if the conflict widens.

    oilSaudi ArabiaIEA

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