Oil Prices Rise Following U.S. Strikes on Houthis and Positive Chinese Economic Data

U.S. military action in Yemen and improved Chinese retail sales have driven oil to two-week highs, while global markets respond to economic uncertainty.

The U.S. launched airstrikes against Yemen's Houthi forces over attacks on Red Sea shipping, with officials indicating the campaign may last weeks.
The strikes have raised concerns about potential disruptions to global oil supply, contributing to a rise in Brent crude futures by 0.9% to $71.21 per barrel.
Chinese economic data showed growth in retail sales for January-February, boosting hopes for higher oil demand despite rising unemployment and weaker factory output.
Market optimism was tempered by the possibility of an end to the Ukraine war, which could increase Russian energy supplies to Western markets.
European and Asian equities gained momentum, while U.S. stock futures pointed to a weaker start, reflecting ongoing economic uncertainty and investor caution.