00:00 It's Benzinga and here's what's on the block.
00:02 Houthi missile and drone attacks in the Red Sea have not caused a significant increase in oil
00:06 prices, surprising experts who predicted a larger impact. The attacks have targeted commercial
00:10 vessels with over 100 incidents reported by the US. Despite the attacks, Brent crude only rose
00:15 by 0.6% to $79.70 a barrel. Analysts believe that the impact on the oil market may be limited due
00:21 to an abundance of new oil supply, tensions between Iran and the US not affecting Iran's
00:26 oil exports and predictions of weak oil demand. The Houthis have threatened to close the Bab-El-Mandab
00:31 Strait, a key route for oil shipping, but have been careful not to target non-Western oil tankers.
00:36 The Houthis have avoided targeting Saudi or Emirati oil infrastructure. The US has announced
00:40 a naval task force to protect vessels in the Red Sea. For all things money, visit Benzinga.com.
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