Oil prices mixed as Red Sea attacks disrupt supply chains

Oil prices were mixed on Tuesday, with the U.S. benchmark dipping while Brent extended gains from the previous session, as attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.

Brent crude futures rose 10 cents, or 0.13%, to $78.05 a barrel at 0330 GMT. The front-month U.S. West Texas Intermediate crude futures contract, which expires on Tuesday, fell 7 cents to $72.40 a barrel. The more active second-month contract was down 5 cents, or 0.07%, to $72.77.