Middle East tensions divert attention from metals-led rout Senior Houthi leader killed; Saudis intercept missiles Crude erased losses as escalating conflict in the Mideast region that’s home to almost half the world’s oil canceled out an earlier rout in commodity markets. Futures popped above $68 a barrel in New York on Monday after sliding as much as 1.8 percent. Iranian-backed Houthis in Yemen launched unsuccessful missile attacks against Saudi Arabia while kingdom-led forces killed a senior leader of the rebel group. The flare-up countered a slump in everything from energy to metals after the U.S. softened its position on sanctions against Russian aluminum giant United Co. Rusal. “It seems to be an escalation but Saudi Arabia has been very good at shooting these missiles down,”’said Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago. “The concern for oil really comes at what happens if it hits?” […]