ConfirmedShipping, energy & marketsBackgroundGlobal oil markets
Brent crude tops $116 a barrel as the Houthis join the war
- Mountain Time
- Local time
- 12:53 AM UTC, Mar 30
- Where
- Global oil markets
Brent rose more than 3% in early Monday trading to top $116 a barrel, its highest since March 19, after the Houthis attacked Israel and Iran warned against a U.S. ground invasion; Japan's Nikkei and South Korea's KOSPI fell more than 4%. Brent was just over $70 when the war began on Feb. 28.
Why it matters
G7 finance ministers said later that day they stood ready to take 'all necessary measures' to stabilize energy markets, a sign governments expect the price shock to last.
Sources (3)
- Al Jazeeraaljazeera.comPublished
- Associated Pressapnews.comPublished
- Al Jazeera (2)aljazeera.comPublished
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