Oil Jumps on New Red Sea Ship Attack

Crude oil rose on Tuesday following the latest strike by Yemen’s Houthis on a container ship in the Red Sea and retained the gain when trade began today as well. Yesterday, crude oil booked its biggest gain in over a week, according to Bloomberg, following the news that the Houthis had struck a container vessel owned by MSC and bound for Pakistan, traveling from Saudi Arabia. The attack took place despite the increased military presence of U.S and UK forces in the area, after the U.S. announced Operation Prosperity Guardian last…