Oil prices climbed as Yemen's Houthi militants targeted ships in the Red Sea, disrupting maritime trade and prompting vessel reroutes. Brent crude futures rose 0.27% to $78.16, with WTI crude up to $72.50. Monday's 1% gains resulted from concerns over Red Sea diversions. BP and Frontline temporarily halted Red Sea transits, affecting about 15% of global shipping. Geopolitical tensions and supply disruptions pose potential risks, creating oil market volatility. The U.S. and allies consider a task force to protect Red Sea routes, while Iran warns against it. In Iran, a cyberattack disrupted nationwide petrol station services.

Original Article: Oil prices rise as Red Sea attacks disrupt supply chains