SINGAPORE, Jan 15 Reuters Oil prices edged up on Monday as traders watched for supply disruption risks in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea.

Brent crude futures were up 24 cents, or 0.3, to 78.53 a barrel by 0737 GMT after settling 1.1 higher on Friday. U.S. West Texas Intermediate crude was at 72.85 a barrel, up 17 cents, or 0.2, following a near 1 gain in the previous session.

The benchmarks jumped more than 2 last week to touch their highest intraday levels this year after U.S. and British forces launched dozens of air strikes against Houthi forces in retaliation for months of attacks on Red Sea shipping that the Iranbacked fighters cast as a response to war in Gaza.

There are supply risks for the market given the escalation in the Red Sea, said Warren Patterson, head of commodities research at ING. However, for now we are not seeing any impact on oil supply. And I guess we would need to see significant escalation before that happens.

On Sunday, the Houthi militia threatened a strong and effective response after the United States carried out another strike overnight, ratcheting up tension. The U.S. later said it shot down a missile fired at one of its ships from Houthi militant areas of Yemen.

President Joe Biden said the United States had sent a private message to Iran about the Houthi attacks.

Several tanker owners steered clear of the Red Sea and multiple tankers…