Oil Futures Climb as Middle East Tensions Intensify

On Tuesday, oil futures experienced a significant increase, with prices rising by more than 1.5%. This surge comes in the wake of Israel's counter-attack on various targets across Yemen, a response to the Houthi movement's strike on the Ben-Gurion Airport in Tel Aviv.

Market Reaction to Geopolitical Unrest

By 12:02 am ET, West Texas Intermediate (WTI) for June's deliveries had climbed by 1.54%, reaching $58.08 per barrel. Shortly after, Brent for July's settlements saw a 1.56% increase, selling for $61.19 per barrel.