Sonal
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Sonal in Smart Investing & Retirement Plans,

Price of Oil may Rise as Saudi began a Military Operation in Yemen!

Brent crude oil rise nearly 6 per cent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, but the benchmark later came off its high near $60 as importers saw no immediate threat to supplies.

The strike against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of oil shipments from the Middle East. Oil prices jumped as traders and importers said they were worried the Saudi attack .

Despite the recent oil crash I'm more bullish than ever on the long-term prospects of oil service giants Halliburton (NASDAQ:HAL) , Schlumberger (NASDAQ:SLB) , and Baker Hughes (NASDAQ:BHI) 

Brent (NASDAQ:BNO) futures rose as high as $59.71 a barrel, up almost 6 percent since their last settlement, before dipping back to $58.09 a barrel at 0504 GMT, up $1.61. U.S. crude was up $1.83 at $51.04 a barrel. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. 

One or more traders have resumed buying call options that pay out if benchmark US crude futures surpass $100 by the end of 2018. Call options give holders the right to buy oil at a set price by a certain date.

BNO is currently trading at $21.36 with +4.29% rise.

Oil experts on CNBC:

" Good time to buy Oil stocks " 

" There will be a continuous rise in the Oil stocks for this year "