Oil prices rise as shippers suspend Red Sea route amid intensifying Houthi attacks
Publishing timestamp: 2023-12-19 09:55:21
Summary
Oil prices rose due to heightened attacks by Iran-backed Houthi militants, leading to disruptions in international shipping routes. Major shipping lines and oil transporters have suspended travel through the Red Sea, and BP has paused shipping through the Suez Canal. The energy markets are pricing in the disruption, and there may be spillover effects on other commodities. The U.S. has pledged an international effort to combat the situation and protect against further attacks.
Sentiment: MIXED
Tickers: DP4B-DE, @LCO.1, MAERSK.B-DK, @CL.1,
Keywords: oil and gas, business news, government and politics, ap moeller - maersk a/s, commodity markets, energy, united states,