Crude oil prices rallied after the United States led air strikes against the Iranian-backed Houthi rebels in Yemen in retaliation for attacks on ships in the Red Sea. West Texas Intermediate (WTI) crude futures surged as much as 4.2 percent to above $75 per barrel on the New York Mercantile Exchange. Brent, the international benchmark for oil prices, also advanced 4 percent to top $80 a barrel on ICE Futures Europe. Other energy commodities popped on the news, including natural gas, climbing close to 3 percent. As part of efforts to deter additional attacks on vessels in the Red Sea, U.S. and British forces initiated joint strikes…
