Oil prices jumped 2% on Thursday as tensions in the West Asia grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its oil infrastructure.
Brent crude futures were up $1.53, or 2.1%, at $73.30 a barrel by 11:58 a.m. (1558 GMT); it touched its highest level in three weeks. US West Texas Intermediate (WTI) crude futures gained $1.35, or 2.2%, to $63.37 a barrel.
The Saudi-led military coalition in Yemen carried out several air strikes on the Houthi-held capital Sanaa on Thursday after the Iranian-aligned movement claimed responsibility for drone attacks on two Saudi oil pumping stations earlier in the week.
