The crisis in Yemen has provided a stark reminder of the immediate impact geopolitical events can have on oil prices.
In the wake of the Saudi-led airstrikes, West Texas Intermediate (WTI) jumped over 6% in less than 18 hours. Meanwhile, Brent climbed more than 5%.
Now Iran is warning of bloodshed as the crisis takes a turn for the worse. According to Dr. Kent Moors, this situation has "all the hallmarks of a bloodbath just waiting to happen."