Crude oil prices high in global market

Moscow: Crude oil prices recorded an increase of about 1 percent due to the ongoing tension in the Red Sea.

The tensions remain high in the Middle East after Houthi rebels attacked ships in the Red Sea, sending oil prices up by 1 percent.

Brent crude futures were up by 71 cents, or 0.89%, at $80.10 per barrel, while U.S. West Texas Intermediate crude futures were up by 81 cents, or 1.1%, and settled at $74.70 per barrel.

More ships are avoiding the Red Sea due to attacks on ships by the Houthi militant group.

It is pertinent to note that the Houthi rebels say that they are targeting the ships in response to the ongoing Israeli brutality in Gaza.