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Oil Holds Gain as US and UK Launch Fresh Strikes Against Houthis
Oil held gains after the US and UK made a fresh round of strikes against Iran-backed Houthi rebels in Yemen, fanning tensions in the Middle East and offsetting concerns global supplies remain ample. US benchmark West Texas Intermediate traded near $75 a barrel after rallying by more than 2% on Monday, while Brent was just above $80. US and UK forces launched their latest attacks against eight Houthi targets in an effort to prevent the group from attacking commercial vessels in the Red Sea. Crude ended higher in the week’s opening session after reports of Ukrainian drone attacks against oil facilities on Russia’s ... (full story)