Bombing of Yemen spooks investors into believing supply lines could be affected and causing crude to jump 4% on global marketsOil prices surged on global markets as jumpy investors weighed the risk that tensions in Yemen could spiral into a wider Middle East conflict, choking off crude supplies.The cost of a barrel of benchmark Brent crude rose more than 4% on Thursday, to $58.93 (£39.55), after reports emerged about Saudi-led air strikes on the Yemeni capital, Sana’a, and the southern port city of Aden – close to the key oil supply route through the Gulf of Aden and the Suez canal. A barrel of US West Texas intermediate jumped $2.17, to $51.37. Related: FTSE 100 falls nearly 1.5% as oil rises amid Middle East tensions Related: Bank of England warns of danger to markets from Greece and China Continue reading...
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