Conflict near Sea Trade Chokepoint, Schlumberger Fined $232 Million
Prices of West Texas Intermediate (WTI) climbed above $50 for the first time in two weeks after multiple outlets reported conflict in the Middle East. Saudi Arabia has engaged in airstrikes on Yemen rebels who have forced the country’s president from the capital of Sanaa. Fellow OPEC producer Kuwait said it supports the strikes, while Iran denounced the attacks but denied plans for military involvement.
Yemen’s Role
Yemen is not a significant player on the oil producing mark...

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