Oil is closing in on its $80 psychological price level, as the Yemen Houthis target and sink a U.K. owned freight ship the Rubymar off the Gulf of Arden. The ship could be sinking. No crew fatalities. Oil may drive higher above $80 on a U.S. and U.K. military response.

Oil is bid over $78, with next price resistance at the psychological $80, nearing August 2023 highs of 80 and 81

Re: Houthi attack on Rubymar a Belize flagged ship, owned by Golden Adventure Shipping, address is located at a South Hampton Port, U.K. 

• Centcom says Houthi attack has damaged the Rubymar bulk carrier on the Gulf of Arden.
• Houthi's claim to have sunk an unidentified British vessel.
• Crew have all be accounted for and evacuated from the Rubymar.
• The current position of RUBYMAR is at Red Sea reported 30 hours ago by AIS. The vessel is en route to BGVAR ARMED.  Indicating that it has possible being sunk or is the process of sinking.