Crude prices rose as much as 6 percent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers’ currencies. The military operations, including air strikes, targeted Iran-backed Houthi rebels besieging the southern Yemen city of Aden. Arab producers ship oil via the Gulf of Aden and Suez Canal to Europe. The escalating tensions in the Middle East pushed the price of Brent crude up more than $3 a barrel to close to $60, a 2 1/2-week high. It last traded at $59.17, up 4.7 percent LCOc1. “Oil is having a nice move after more geopolitical tensions in the Middle East over Yemen. Saudi has intervened via a military operation but, to be clear, (it) has at the moment led to no disruptions in oil supply,” said Atif Latif, director […]