Oil jumps past US$100 as Houthis seize Yemen port, bond yields hit multi-year highs

Oil prices surged on Thursday after Yemen's Houthi rebels seized the Red Sea port city of Mocha, pushing Brent crude above US$107 a barrel and West Texas Intermediate past US$100. The jump came as long-term US Treasury yields hit multi-year highs following an uptick in US wholesale inflation, dragging Wall Street indices lower for a fourth straight day.