Yemen

WTI and Brent oil rallied sharply as traders priced in heightened risk around key Middle East shipping routes following the seizure of Mokha on the Red Sea. Natural gas attempted to rebound despite a larger-than-expected weekly storage build in the latest EIA data.

The U.S. Dollar Index pushed higher as traders weighed a stronger than expected Initial Jobless Claims reading and a sharp oil rally tied to rising Middle East tensions. EUR/USD weakened after soft Euro Area Retail Sales, while USD/JPY climbed as Treasury yields rose.