• Oil edged higher as traders tracked geopolitical tensions in the Middle East, with the US telling commercial ships to avoid the Red Sea following missile strikes by Houthi militants.
  • West Texas Intermediate traded just below $73 a barrel, 0.2% higher than last week’s close, with futures not settling on Monday due to a US holiday. Brent crude was above $78. Houthi militants hit a US-owned commercial vessel with an anti-ship ballistic missile on Monday, underscoring warnings from militaries and trade groups that the vital route remains too risky for navigation.