Reuters report that Kuwait is tightening up security

Kuwait says it is raising security on oil facilities inside and outside of the country. Meanwhile Egypt is apparently sending ships to secure waters around the Yemen port, and Gulf of Aden, which is located at the mouth of the Red Sea, leading into the Suez canal

As you can expect from the overnight news from Yemen and the Saudi's commencing military operations on their border, oil is well up. Eamonn had the early news and this is going to rumble on for a while yet.

US's Kerry has also been on the wires commending Saudi and other foreign ministers for their intervention

Brent is up over $2 in today's trading as the risk premium goes into the price. There's plenty left to come out of this so traders should be prepared to see more upside.

Technically the 62.50/63.00 presents an area to think about fading the fear move but we'll have to judge the news as it comes

Brent crude daily chart

Anything up towards the 70 mark will likely put us close to "screaming sell" levels, again depending on the events that took it there