Tag: Red Sea

Oil prices not rising despite Middle East tensions as demand wanes

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea.

February 17, 2024

After flak over lack of action, Chinese navy starts escorting cargo ships through Red Sea

The development comes at a time when various cargo shipping companies have decided to avoid the globally important trade passage citing attacks from Houthi rebels.

February 3, 2024

US, UK carry out new round of strikes against Houthi sites in Yemen

The attack followed the Houthis claim of a missile strike on a US ship in the Gulf of Aden on Wednesday night.

January 18, 2024

US carries out new strikes against Houthis in Yemen

The US carried out strikes after Houthi launched an anti-ship ballistic missile from Houthi-controlled areas of Yemen into international shipping lanes in the Southern Red Sea.

January 17, 2024

Yemen’s Houthis renew warning to US, vow to persist in attacks on ‘Israel-related’ ships

On November 19, the Houthis hijacked a cargo ship, the Galaxy Leader, in the Red Sea and took it and its crew to Hodeidah port.

December 30, 2023

Jordan forms committee to monitor impact of Red Sea developments on shipping

The committee is formed to unify efforts and address technical issues to overcome any obstacles related to maritime shipping.

December 29, 2023

Oil prices stabilise as Red Sea transport disruptions ease

Brent crude futures inched up 10 cents, or 0.1 per cent, to $79.75 a barrel by 0424 GMT, while U.S. WTI crude futures were trading 5 cents lower at $74.06 a barrel.

December 28, 2023