Oil Prices Hit One-Month High as Houthi Blockade Rattles Markets

Oil prices reached a one-month high on Monday, driven by escalating geopolitical tensions in the Middle East. Traders balanced news of a new U.S.-Iran ceasefire proposal against a fresh wave of weekend strikes and a continued blockade of Saudi Arabia by Yemen’s Houthi forces. The volatile trading session reflected market anxiety over supply disruptions. While a ceasefire could ease tensions, the Houthi blockade has kept traders on edge, pushing crude prices higher despite diplomatic efforts.