Oil rises as US orders diplomats to leave Saudi Arabia amid escalating tensions
Summary
Oil prices climbed after Houthi attacks in Saudi Arabia prompted the United States to withdraw some diplomatic families from missions in the region. Brent futures gained $1.29 and WTI rose 97 cents, while a larger-than-expected drop in US crude inventories added support.
The diplomatic withdrawal signals that Washington sees the security threat as serious enough to alter
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Security escalation and shrinking inventories are combining to make an already fragile oil market more vulnerable to shocks.