Oil prices extended their rally on Wednesday after Iran-backed Houthi militants claimed responsibility for attacks on two Saudi Arabian oil tankers in the Red Sea, escalating tensions in the Middle East and raising fresh concerns over global crude supplies.Brent crude climbed as much as 1.4% to trade above $95 a barrel, after closing at a six-week high in the previous session, while West Texas Intermediate (WTI) hovered near $88 a barrel.The Houthis said they had targeted the tankers Encelia and Layla with missiles and drones, accusing the vessels of violating a blockade.
Shortly before the group's statement, the UK Maritime Trade Operations (UKMTO) reported that a ship had been struck by a projectile off Saudi Arabia's Red Sea coast near Al Shuqaiq, triggering a fire on board, although it did not identify the vessel.The attacks mark the first direct strikes....
