Oil rises to more than 7-year high on Mideast tensions
Oil prices rose on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen`s Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.
The "new geopolitical tension added to ongoing signs of tightness across the market," ANZ Research analyst said in a note. Source: Reuters