Global Oil Prices Spike Because Yemen Thought Drones Were Fun Too
KEY POINTS
- â˘The Yemen-backed Houthis launched their first missile and drone attacks on Israel in week 5 of the US-Israel war on Iran.
- â˘Oil prices jumped 3% Sunday to over $115 per barrel, with gas in the US averaging nearly $4 a gallon.
- â˘Pakistan is hosting regional foreign ministers in Islamabad to discuss early conflict resolution and de-escalation plans.
After 5 weeks of starring roles in the US-Israel-Iran feud, the Yemen-backed Houthis decided to crash the party with cruise missiles and drones aimed at Israel last weekend. Brent crude immediately spiked up $3 to $115.73 per barrel Sunday, proving that violence is just great for global budgets. Meanwhile, WTI nudged past $103.13 a barrel, probably smirking while US drivers lament an average gas price near $4 per gallon, up from $2.98 in February. Iranâs strategic closure of the Strait of Hormuzâwhich handles about 20% of oilâturned the Middle East into the worldâs worst oil scrapyard, while Pakistan got the thankless job of hosting peace talks that even politicians admit wonât be quick. Also, the US Energy Secretary promised this wonât drag on forever on March 8, just before the Pentagon hinted theyâre prepping for months of ground war festivities in Iran.
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(1 of 3)Who knew the secret to gas prices rising was Yemen showing off their war toys on Israel? Apparently, drone tantrums don't just mess with satellitesâthey bankrupt US commuters too.
Nothing like a casual weekend missile launch to reminder everyone that global peace is just an overpriced fantasy option.
Oil prices love pumping those barrels after a good regional disagreementâlike the Houthis' holiday gift to world markets.
Source: Businessinsider | Published: 3/29/2026 | Author: Lauren Edmonds
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