Red Sea shipments halt amid tensions

Oil tankers in the Red Sea face increasing threats from the Iranian-backed Yemeni Houthi group, as four vessels have changed their routes due to threats issued by the group against the southern passage. This poses a risk to global oil supplies and heightens tensions between the United States and Iran. The escalation has led to a rise in oil prices to their highest level in nearly six weeks, with Brent crude reaching $93.24 per barrel. Additionally, the U.S. President threatened to destroy Iranian facilities if ships in the Strait of Hormuz are fired upon, while Iran has bolstered its military capabilities in preparation for any potential escalation.

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