The oil price is moving clearly higher as weekly trading opens, after another turbulent weekend in the Middle East.
In recent days, the Iran-backed Houthi movement has taken control of large parts of Yemen's Red Sea coast, which is expected to affect maritime traffic. At the same time, an oil pipeline in Saudi Arabia has been attacked.
November North Sea oil futures rose 3.0 percent and stood at $107.78 per barrel overnight, according to CNBC.
