Finance
Oil Prices Jump After Yemeni Houthis Attack Israel, Widening Iran Conflict
Published by Global Banking & Finance Review®
Posted on March 29, 2026
1 min readLast updated: March 29, 2026
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Oil prices surged sharply on Monday after Yemen’s Iran-aligned Houthis—entering the U.S.–Israel–Iran war—launched their first-ever attacks on Israel, adding new geopolitical risk. Brent rose ~2.8% to $115.73, WTI gained ~3.1% to $102.77.
Oil Prices Surge as Houthis Attack Israel, Escalating Iran-Linked Conflict
Oil Markets React to Middle East Tensions
Houthis Launch Attacks on Israel
March 30 (Reuters) - Oil prices extended gains on Monday after Yemen's Iran-aligned Houthis launched over the weekend their first attacks on Israel since the start of the U.S.-Israel war with Iran, widening the conflict in the Middle East.
Impact on Crude Oil Prices
Brent Crude Futures
Brent crude futures jumped $3.16, or 2.81%, to $115.73 a barrel by 2205 GMT after settling 4.2% higher on Friday.
U.S. West Texas Intermediate
U.S. West Texas Intermediate was at $102.77 a barrel, up $3.13, or 3.14%, following a 5.5% gain in the previous session.
Market Analysis and Reporting
(Reporting by Florence Tan; editing by Jonathan Oatis)
Key Takeaways
- •Yemen’s Houthis launched their first attacks on Israel over the weekend, expanding the Middle East conflict and heightening fears over shipping disruptions through strategic chokepoints like the Red Sea and Bab el‑Mandeb Strait (apnews.com).
- •Oil prices reacted with sharp gains: Brent crude jumped $3.16 (2.81%) to $115.73, WTI rose $3.13 (3.14%) to $102.77, building on strong Friday rallies (lemonde.fr).
- •Markets are bracing for broader supply chain strains amid escalating geopolitical risk, with analysts warning that further Houthi involvement and attacks on shipping lanes could push prices even higher (apnews.com).
References
Frequently Asked Questions about Oil prices jump after Yemeni Houthis attack Israel, widening Iran conflict
1Why did oil prices jump on March 30?
Oil prices jumped after Yemen's Iran-aligned Houthis launched attacks on Israel, widening the Iran-linked conflict in the Middle East.
2What are the current prices of Brent and WTI crude oil?
Brent crude is trading at $115.73 a barrel, while U.S. West Texas Intermediate is at $102.77 a barrel.
3How much did Brent crude and WTI futures increase?
Brent crude futures rose $3.16 (2.81%) and WTI increased $3.13 (3.14%) following the conflict escalation.
4What triggered the latest surge in oil prices?
The surge was triggered by the first attacks on Israel by Yemen's Houthis since the start of the U.S.-Israel war with Iran.
