Global shipping group Hapag-Lloyd has suspended all tanker movements through the Strait of Hormuz, a critical maritime chokepoint that carries roughly one-fifth of the world’s oil and gas shipments.
Traffic in the Suez Canal plummets following Houthi assaults.
Tanker traffic in the Suez Canal has dropped to levels not seen since the Covid pandemic, as Houthi attacks disrupt oil and petrol deliveries.
Oil extended its biggest weekly advance in two months
Oil prices continued their most significant weekly increase in two months, driven higher by new attacks in the Red Sea that led numerous ships to choose longer, safer routes.
BP began shipping liquefied gas (LNG), from Mozambique to Europe
BP began shipping liquefied gas (LNG), from Mozambique’s vast new reserves opening up resources that could ease Europe’s energy crisis.