Yahoo Finance published this video item, entitled “Oil prices spike after US, UK airstrikes on Houthis in Yemen” – below is their description.
Crude oil (CL=F, BZ=F) prices are jumping higher Friday after the US and UK military coordinated airstrikes on Iran-backed Houthi rebels in Yemen on Thursday. These events further complicate escalating conflicts in the Red Sea where Houthi forces are targeting freight shipping vessels.
Yahoo Finance Senior Reporters Ines Ferré and Jared Blikre detail the broader implications on global trade routes and the energy sector, while also commenting on energy M&A activity stemming from Chesapeake Energy Corporation’s (CHK) acquisition of Southwestern Energy Company (SWN).
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.
Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.
Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.
The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.
TikTok, known in China as Douyin, is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming. It is used to create short music, lip-sync, dance, comedy and talent videos of 3 to 15 seconds, and short looping videos of 3 to 60 seconds.
ByteDance first launched Douyin for the Chinese market in September 2016. Later, TikTok was launched in 2017 for iOS and Android in most markets outside of mainland China; however, it only became available worldwide, including the United States, after merging with another Chinese social media service Musical.ly on 2 August 2018.
Yemen, officially the Republic of Yemen, is a country at the southern end of the Arabian Peninsula in Western Asia. It is the second-largest Arab sovereign state in the peninsula, occupying 527,970 square kilometres. The coastline stretches for about 2,000 kilometres.
