West Texas Intermediate US Crude Oil prices oscillate in a narrow range, just above mid-80.00s during the Asian session on Friday and remain well within the striking distance of the highest level since November 6 touched the previous day.
Formally unified as a republic in May of 1990, Yemen has become the main character in the continued story of oil prices. Based on its geographic location, this Middle Eastern country plays a strategic role in the transport of energy. However, with this particular mode of trade now at risk, political tensions have heightened in the region sending commodity prices higher.