A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. Fareed Kotb | Anadolu | Getty Images The world’s largest shipping company, MSC, and several retail and trade experts warned Congress on Tuesday that if the Red Sea chaos caused by Houthi rebel attacks … Read more
SINGAPORE – Oil prices jumped 1% on Monday on fuel supply concerns after a missile struck a Trafigura-operated fuel tanker in the Red Sea and as Russian refined products exports are set to fall as several refineries are under repair after drone attacks. Brent crude futures climbed 83 cents to $84.38 a barrel by 2341 … Read more
The oil market appears to be bracing for a weeks-long disruption to shipping in the southern Red Sea, where Houthi militants have for months been attacking merchant vessels in response to Israel’s war in Gaza. Charters of tankers to haul crude and fuels – which for some vessels are arranged up to a month in … Read more
U.S. forces on Thursday conducted a fifth strike against Iranian-backed Houthi rebel military sites in Yemen as President Joe Biden acknowledged that the American and British bombardment had yet to stop the militants’ attacks on vessels in the Red Sea that have disrupted global shipping. The latest strikes destroyed two Houthi anti-ship missiles that “were … Read more
Containers are piled up in Lisbon, Portugal, on January 13, 2024. Recent U.S. and UK air strikes on Yemen are causing global shipping rates to spike, sparking fears of extended disruptions in the Red Sea, a crucial trade route. The strikes are a response to attacks on the Red Sea, adding complexity to the regional … Read more
The U.S. military fired another wave of ship- and submarine-launch missile strikes against Houthi-controlled sites Wednesday, U.S. officials said, marking the fourth time in days it has directly targeted the group in Yemen as violence that ignited in the wake of the Israel-Hamas war continues to spill over in the Middle East. The strikes followed … Read more
DOHA/WASHINGTON: Qatar’s state energy company, one of the world’s biggest liquefied natural gas exporters, has paused sending tankers through the Red Sea after U.S.-led strikes against Houthi militants in Yemen targeting the crucial trade route. Attacks on ships by the Houthis, who say they are acting in solidarity with Palestinians, have disrupted global commerce and … Read more
QatarEnergy, one of the world’s largest exporters of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues, a source with knowledge of the matter told Reuters on Monday. At least four tankers used to carry Qatari LNG were held up over the weekend after U.S. and British forces carried out … Read more
There were no injuries or damage reported in the latest incident. (Representational) WASHINGTON: A United States fighter aircraft shot down an anti-ship cruise missile fired from Yemen’s Houthi controlled areas towards a US destroyer operating in the Southern Red Sea, the US military said on Sunday. The midair interception is the latest incident in the Red … Read more
The U.S. military early Saturday struck another Houthi-controlled site in Yemen that it had determined was putting commercial vessels in the Red Sea at risk, a day after the U.S. and Britain launched multiple airstrikes targeting Houthi rebels. Associated Press journalists in Sanaa, Yemen’s capital, heard one loud explosion. U.S. Central Command said the “follow-on action” … Read more
