Fresh Houthi attacks sent oil prices climbing on Monday

New strikes on Saudi Arabian pipelines and attacks on ships in the Middle East sent crude oil prices climbing on Monday as they gained about 1%.

At one point, both benchmarks, WTI and Brent, jumped nearly 5% earlier in the day, then retreated after President Trump claimed Iran wanted to reach a deal with the U.S.

Brent futures rose $1.07 or 1% to close at $105.68 a barrel.

West Texas Intermediate crude, the price determined at Oklahoma’s Cushing Hub, increased $1.34 or 1.3% and settled for the day at $101.39 per barrel on the New York Mercantile Exchange.

Natural gas prices also saw a gain in Monday’s trading, settling up $0.043 or 1.52% at $2.874 MMBtu.

Prices jumped early Monday after Yemen’s Iran-backed Houthis launched a new attack on Saudi Arabia and Gulf Arab states postponed planned talks with Iran. The Houthis said they fired dozens of missiles and drones at a military airbase in Khamis Mushait in southern Saudi Arabia, targeting aircraft hangars, radar systems, runways and ammunition depots in retaliation for Saudi airstrikes in Yemen.

All but three of our Oklahoma energy stocks finished Monday with losses. Matrix Service Co. led all with a nearly 6% fall followed by 5% at Stardust Power and Unit Corporation.

Alliance Resource Partners LP