OIL PRICES SURGE ABOVE $111 AS HOUTHIS STRIKE SAUDI TARGETS

What happened: Brent crude held above $111 per barrel after reports of more Houthi attacks on Saudi targets, including an oil field and an international airport. A U.S. order for non-emergency personnel to leave Saudi Arabia added to security concerns. Key numbers: Brent at $111.10 per barrel, WTI at $98.98, both up around 2% from Why it matters: Iranian officials said peace prospects are remote, with the foreign minister saying Iran has no trust in the U.S. administration's desire for peace. ING noted Kuwaiti fuel production remains problematic, with flows well below pre-war levels.

Brent crude held above $111 per barrel after reports of more Houthi attacks on Saudi targets, including an oil field and an international airport. A U.S. order for non-emergency personnel to leave Saudi Arabia added to security concerns.

Iranian officials said peace prospects are remote, with the foreign minister saying Iran has no trust in the U.S. administration's desire for peace. ING noted Kuwaiti fuel production remains problematic, with flows well below pre-war levels.