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Crude oil futures end higher amid Middle East tension

13 Apr 2021 Evaluate

Crude oil futures ended higher on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites. The United States has fully vaccinated 22% of its population, while the United Kingdom has vaccinated 11% fully. Besides, oil prices also found some support after Yemen’s Iran-aligned Houthi movement said it had fired 17 drones and two ballistic missiles at Saudi targets, including towards Saudi Aramco refineries in Jubail and Jeddah.

Crude oil futures for May rose 38 cents or 0.6 percent to settle at $59.70 barrel on the New York Mercantile Exchange. June Brent crude gained 33 cents or 0.5 percent to settle at $63.28 a barrel on London's Intercontinental Exchange.