EconomyOil Rises on Threat of Wider Middle East War

Brent crude traded at its highest level since May on Friday. Iran-backed Houthi militants claimed recent attacks on Saudi Arabia’s Red Sea port of Yanbu, along with deadly strikes on an oil field and an airport in the kingdom. The flare-up could widen hostilities around the Strait of Hormuz, where crude exports have nearly recovered to prewar levels.