Shell Suspends All Shipments via the Red Sea

The Wall Street Journal reported today, Tuesday, that the major oil company Shell has suspended all shipments via the Red Sea indefinitely, following concerns raised by U.S. and British strikes on the Houthis in Yemen, which have heightened fears of escalating conflict. The newspaper added that the company took the step last week to halt all transit operations due to fears that a successful attack could lead to a massive oil spill in the region, as well as risks threatening the safety of ship crews. Houthi attacks on vessels have disrupted global trade, and the Iran-aligned movement stated it is acting in solidarity with the Palestinians. Last month, BP announced the suspension of its Red Sea vessel transits.