Oil Prices Jump After Saudi Strikes In Yemen
The price of Brent crude jumped 5 percent yesterday as Saudi Arabia began airstrikes in Yemen. It was the biggest spike in oil prices since February. The benchmark settled near $60 a barrel.
Saudi involvement in Yemen’s growing unrest has led to fears of instability in the oil market, even though a global supply glut was a primary reason why oil prices have been so low.
Michael Reganof Bloomberg News speaks to Here & Now’s Jeremy Hobson about what continuous Saudi influence in Yemen means for the global oil market.
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