Crude surges, stocks dive as Houthi attacks escalate Iran war

As the conflict moved into its fifth week, the spectre of a widening conflict grew as Yemen's Houthi rebels on Saturday said they had fired "a barrage of cruise missiles and drones" at strategic sites in Israel. The strikes raised concern about the war spreading to the Red Sea, with Saudi Arabia rerouting much of its oil exports there to avoid the Strait of Hormuz, through which 20 percent of crude and gas passes and has been effectively closed by Tehran. The news sent the price of oil to its highest...