Crude Climbs by Most This Year as Iran Shoots Down U.S. Drone
- Fears of Mideast clash rise, though Trump downplays attack
- Houthi rebels say they hit Saudi power plant with missile
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Oil jumped the most this year as attacks by Iran and its proxies in the sky and on sea and land prompted U.S. President Donald Trump to warn the Islamic Republic it made “a very big mistake.”
Futures climbed 5.4% in New York on Thursday after Iran shot down an American drone just a week after two tankers were targeted in the region. Meanwhile, Iran-backed Houthi rebels in Yemen said they hit a Saudi Arabian power plant with a cruise missile, at least the third such attack on the kingdom’s infrastructure in a week.