Oil prices soared Friday after U.S.-led forces launched airstrikes against the Iran-backed Houthi group in Yemen, increasing concerns over disruptions to Middle East supplies. The United States and Britain carried out the strikes in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year, and came shortly after Iran seized an oil tanker with Iraqi oil in the Gulf of Oman.
Oil prices surged Friday after U.S.-led forces launched airstrikes against the Iran-backed Houthi group in Yemen, increasing concerns over disruptions to Middle East supplies. The strikes came in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year.