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Oil traders note – Biden is drawing up plans that include striking Houthi targets in Yemen

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The military is drafting plans to hit back at Iran-backed Houthi militants who have been attacking commercial shipping in the Red Sea, according to three U.S. officials with direct knowledge of the discussions. That includes striking Houthi targets in Yemen, according to one of the officials, an option the military has previously presented.

Info comes via Politico, link here for more.

  • Biden administration officials are drawing up plans for the U.S. to respond to what they’re increasingly concerned could expand from a war in Gaza to a wider, protracted regional conflict.
  • Four officials familiar with the matter, including a senior administration official, described internal conversations about scenarios that could potentially draw the U.S. into another Middle East war.

Oil traders are keenly watching developments in the Middle East. Further escalation is a threat to oil supply and a tailwind for oil prices:

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