COMMODITY
Crude oil futures settle higher amid disruption to supply-and-transit from Houthi attacks
Jul-09-2025

Crude oil futures ended higher on Tuesday amid fears of disruption to the oil and energy supply-and-transit from Houthi attacks. The Iran-aligned militia attacked and sank a bulk carrier Magic Seas off Southwest Yemen in the Red Sea. Later, the militants attacked another bulk carrier Eternity C in the Red Sea. Moreover, oil and energy traders are worried about a long-term sea traffic disruption as further attacks could draw in US and western forces against the Houthis.

Benchmark crude oil futures for August surged $0.40 or about 0.59% at $68.33 a barrel on the New York Mercantile Exchange. Brent crude for September gained $0.83 or about 1.20% at $70.15 a barrel on London's Intercontinental Exchange.

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