BP suspends all oil shipments through the Red Sea as attacks escalate
Headline from CBS News
Oil prices jumped on Monday after the energy giant said it would pause transits through the Red Sea amid a surge in attacks along the key maritime route.
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Oil prices jumped on Monday after the energy giant said it would pause transits through the Red Sea amid a surge in attacks along the key maritime route.
Global energy prices jumped as tensions escalated around the vital shipping route, where drone and missile assaults have prompted some companies to halt sending cargos.
LONDON (AP) — Oil and natural gas giant BP has joined the growing list of companies that have halted their shipments through the Red Sea because of the risk of attack from Yemen’s Houthi rebels, threatening a major trade route in what is expected to have global effects.
By Hanna Ziady, CNN London (CNN) — BP said Monday that it would pause all shipments through the Red Sea because of increased attacks on vessels by Houthi militants in Yemen. “In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transit…
Houthi rebels have targeted container ships and oil tankers passing through a narrow waterway that connects to the Red Sea and Suez Canal, where an estimated 10% of the world’s trade passes through.
