Oil prices rise 0.78% after Houthi strikes on Riyadh

  • Houthis launched missile and drone strikes against Riyadh on Saturday.
  • Brent crude futures rose 81 cents, or 0.78%, to $104.68 a barrel.
  • The United States and Iran remained in a stalemate as tensions escalated.

Oil prices rose on Monday after Iran-backed Houthis launched missile and drone strikes against Riyadh, Saudi Arabia, on Saturday. The attacks heightened Middle East tensions as the United States and Iran remained in a stalemate. Brent crude futures gained 81 cents, or 0.78%, to $104.68 a barrel by 2202 GMT, while U.S. West Texas Intermediate rose 76 cents, or 0.76%, to $101.06 a barrel.

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