Explained in plain English
Why do oil prices change?
Oil prices are a dance between supply and demand. When something threatens the supply, like an attack on a tanker near a major port, the market reacts by pushing prices up. Traders anticipate less oil being available, so they're willing to pay more for it. This is why the Houthi claim had an immediate effect.
Stories that explain this
Oil prices rise above $80 after Houthis claim attack on Saudi tankerThis explainer came from a news story
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