Oil has traded higher in the early hours of the week.
Tensions in the Middle East are ratcheting a little higher. Houthi leadership was quoted as saying
- We will target them, We will make American battleships, American interests, and American shipping traffic targets of our drones, and our military operations
While the US has been reluctant to conduct strikes against Houthi bases in Yemen continued attacks would seem to make such strokes more and more likely.
Over the past weekend US military forces repelled an attack on a Maersk container vessel in the Red Sea. US helicopters sank three Houthi ships.
Map via The Economist