Oil Prices Rise as Yemen Burns
The crisis in Yemen has provided a stark reminder of the immediate impact geopolitical events can have on oil prices.
In the wake of the Saudi-led airstrikes, West Texas Intermediate (WTI) jumped over 6% in less than 18 hours. Meanwhile, Brent climbed more than 5%.
Now Iran is warning of bloodshed as the crisis takes a turn for the worse. According to Dr. Kent Moors, this situation has “all the hallmarks of a bloodbath just waiting to happen.”
Kent was asked to provide his timely analysis on CNBC’s Closing Bell to discuss the impact this massive crisis will have on oil prices.
As Kent notes below, this one could get ugly very fast.