U.S. Airstrikes Boost Oil Prices: What’s Next?
Oil prices increased by about 1% on Monday as the U.S. vowed to continue airstrikes against Yemen’s Houthi rebels until they stop attacking shipping routes. Brent crude rose to $71.30 a barrel, while U.S. West Texas Intermediate climbed to $67.90. This military action is the largest since Trump took office and could last for weeks, causing disruptions in global trade. Despite the recent rise in oil prices, analysts from Goldman Sachs have lowered their future forecasts, predicting slower U.S. economic growth due to tariffs affecting trade relations with countries like China and Mexico.