• Oil prices ticked higher on Monday after rising more than 1 percent in the previous session on jitters over global trade disruption and geopolitical tensions in the Middle East following Houthi attacks on ships in the Red Sea.
• Brent crude futures edged up 6 cents, or 0.1 percent, to $79.29 a barrel by 0137 GMT while U.S. West Texas Intermediate crude was at $74.11 a barrel, up 17 cents, or 0.2 percent.
• Washington on Tuesday launched a task force to safeguard Red Sea commerce as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, stoking fears of sustained disruptions to global trade.

https://business.inquirer.net/437970/oil-prices-edge-up-as-traders-eye-red-sea-developments#ixzz8MPXUiGbu