Red

Houthi rebel disruptions reaching the Straits of Hormuz could double oil prices, Goldman Sachs has warned. In an interview the head of the company’s oil research division Daan Struyven said: “the Red Sea is a transit route and a…

Shipping giant Maersk said Tuesday it will pause operations in the Red Sea “until futher notice” after another attack by Iran-backed Houthi rebels in Yemen over the weekend. “We have decided to pause all transits through the Red…

Volodimyr Trofimov/iStock Editorial via Getty Images Ocean freight rates are surging after Houthi rebels attacked a Maersk ship last weekend caused carriers to suspend plans to restart transits through the Red Sea en route to the Suez…

Two weeks after it was formed, the coalition that the US has been trying to build to protect freedom of navigation in the Red Sea is stuttering. Of the many countries that the US approached, only ten have publicly…

© Reuters. FILE PHOTO: CMA CGM Louis Bleriot and a Maersk Line container ship pass through the Suez Canal in Ismailia, Egypt July 7, 2021. Picture taken July 7, 2021. REUTERS/Amr Abdallah Dalsh By Jacob Gronholt-Pedersen and Ahmed…

© Reuters. FILE PHOTO: Containers are seen stacked up on the container ship CMA CGM Benjamin Franklin at the port of Antwerp, Belgium September 23, 2022. REUTERS/Yves Herman/File Photo (Reuters) -Iranian-backed Houthi militants in…

The shipping industry in Denmark, home to some of the world’s largest firms, agreed to double wages for crew sailing through the Red Sea to compensate for the danger posed by the recent attacks. The hazard pay kicks in for the time spent…

OIL PRICE FORECAST:Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices failed to maintain its momentum this week with a sharp selloff yesterday continuing through the Asian and European sessions today. US stockpile…

© Reuters. FILE PHOTO: View of containers on the methanol-fueled container vessel Laura Maersk as it sits at anchor in harbour after an official naming ceremony in Copenhagen, Denmark, September 14, 2023. REUTERS/Tom Little/File Photo…

© Reuters. FILE PHOTO: Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea in this photo released November 20, 2023. Houthi Military Media/Handout via REUTERS/ File Photo By Andrea Shalal WASHINGTON…