Crude oil prices have risen following the US and UK's attack on the Houthis in Yemen

Brent crude futures rose 2.0% to US$79.00 a barrel.
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247 – Oil prices rose significantly after the United States and the United Kingdom launched air and sea strikes against Houthi military targets in Yemen in retaliation for the group's attacks on ships in the Red Sea. The escalation of conflict in the region has had a direct impact on Asian markets Reuters reported.

Brent crude futures were up 2.0% at $79.00 a barrel, while Texas crude (WTI) was up 2.1% at $73.55. However, the news had a limited initial response in the markets as investors adopted a wait-and-see approach to assess developments in the situation.

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The intensity of the conflict kept investors cautious, reflected in the performance of Asian shares, which showed a slight increase of 0.1%. The broader Asia-Pacific index excluding Japan edged up temporarily, but is on track for a weekly decline of 0.7%.

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