OIL giant BP has paused all of its shipments through the Red Sea due to ongoing attacks from Yemen’s Houthi rebels.
It said the decision was caused by a “deteriorating security situation” in the Middle East as fears grow the move will send prices soaring.
GettyBP has suspended its oil shipping operations in the Red Sea[/caption]
The UK, US and Israel have taken moves to try to retain control over the waters of the Red Sea
A number of other freight companies have been suspending their operations after being targeted by the Iran-backed terror group.
Today, one of the world’s largest shipping firms, Evergreen Line, said it would suspend its journeys through the Red Sea “until further notice”, the BBC reports.
It follows a spate of attacks on ships in the Bab al-Mandab Strait – also known as the Gate of Tears – a vital and perilous to navigate waterway threatened by the Houthi rebels.
The militia movement has been attacking vessels in solidarity with Hamas and in protest at Israel’s devastating bombardment and invasion of the Gaza Strip.
The Red Sea is an essential waterway for global trade, used to transport oil, fuel and consumer goods largely between Europe and Asia.
Instead of using the Bab al-Mandab Strait, ships will be forced to travel the much longer route around southern Africa.
Today, the price of oil rose due to concerns over oil supply distributions.
The Houthis have pledged to continue their attacks until Israel stops its assault on Gaza.
However on Sunday, the militia group said they would consider a de-escalation if Israel took real steps to ease the humanitarian crisis in the Strip.
The US has said it is seeking a coalition to protect ships in the Red Sea and to send a signal to the Houthi who have also been firing drones and missiles.
BP said: “The safety and security of our people and those working on our behalf is BP’s priority.
“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea.
“We will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region.”
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