BP Temporarily Pauses Shipments Through The Red Sea Due To Attacks

The rebels are targeting ships using the Bab el-Mandeb Strait, with the pro-Hamas group seeking to disrupt ships set for Israel.

Oil giant BP announced it is suspending shipments through the Red Sea due to lack of security.

In recent weeks, Iranian-backed Houthi militants have stepped up attacks on vessels traveling through the Red Sea. The rebels are targeting ships using the Bab el-Mandeb Strait, with the pro-Hamas group seeking to disrupt ships set for Israel.

BP said, “In our trading and shipping business, as in all BP businesses, the safety and security of our people and those working on our behalf are BP’s priority.”

The company has decided to temporarily pause all transits through the Red Sea.

BP will keep the precautionary pause under ongoing review, subject to circumstances as they evolve in the region.

Oil and gas prices are expected to rise due to the disruption caused by the shipping issues.