BP has halted all shipments of oil and gas through the Red Sea after an increase in attacks on cargo ships by Houthi militants in Yemen, including two further strikes on Monday. “In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea. after newsletter promotionThe Norway-based oil tanker group Frontline said its vessels would also start avoiding passages through the Red Sea and the Gulf of Aden. “Avoiding the Red Sea will lead to higher cost due to longer travel time,” he told Reuters. The Red Sea is a key trading route for shippers of all products into Europe.

Source: The Guardian December 19, 2023 16:01 UTC