Oil prices rise on U.S. attack on Houthis, Chinese economic hopes

News Snapshot:

Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fueled hopes for higher demand. U.S. President Donald Trump launched military strikes against the Houthis on Saturday over the group’s attacks against Red Sea shipping. One U.S. official told Reuters the campaign might continue for weeks. Brent futures rose 63 cents, or 0.9 per cent, to $71.21 a barrel by 1017 GMT while U.S. West Texas Intermediate crude futures gained 62 cents, or 0.9 per cent, to $67.80. Chinese economic data also...