Oil Prices Climb as Middle East Tensions Escalate

In a significant development, oil futures witnessed an uptick of over 1.5% this Tuesday. This surge comes in the wake of Israel's decisive counter-attack on multiple targets across Yemen. The move was a direct response to the Houthi movement's earlier strike on the Ben-Gurion Airport in Tel Aviv, marking a sharp escalation in regional tensions.

Market Reaction to Geopolitical Unrest

At precisely 12:02 am ET, West Texas Intermediate (WTI) for June deliveries saw a 1.54% increase, pegging the price at $58.08 per barrel. Shortly thereafter, Brent crude for July settlements followed suit, gaining 1.56% to reach $61.19 per barrel. These figures underscore the market's rapid response to the unfolding geopolitical scenario.