Oil tops $115 after Yemen's Houthi attacks on Saudi installations
Oil prices shot up past $115 a barrel on Friday after Yemen's Iran-aligned Houthi group claimed attacks on key Saudi oil installations.
Brent crude and West Texas Intermediate, or WTI, were heading for their fourth straight monthly increase, with traders worried about more supply disruptions as tensions rise in the Middle East.
ExxonMobil and Chevron cancel UAE attendance
Yemen's Iran-aligned Houthi group claimed attacks on key Saudi oil installations.
A Saudi-led coalition separately reported intercepting a cruise missile launched toward the kingdom's western region, putting the region on edge.
With unrest near the crucial Strait of Hormuz and stalled diplomatic talks, companies like ExxonMobil and Chevron have canceled plans for their executives to attend the United Arab Emirates's biggest oil show next week.
Everyone's watching closely to see how this could impact global oil flows.