Singapore - Oil prices jumped more than 5% in Asia on Thursday after Saudi Arabian jets struck rebel targets in Yemen, with fears growing that a spiralling crisis in the country could threaten key crude producers in the Middle East.
US benchmark West Texas Intermediate (WTI) for May delivery rose $2.87, or 5.83%, to $52.08 while Brent crude for May rose $2.90, or 5.13%, to $59.38 in afternoon trade.
The contracts also rallied on Wednesday following news that Yemen's President Abedrabbo Mansour Hadi was rushed to a "secure location" after a warplane attacked his presidential complex.