Oil giant BP suspends shipping through Red Sea

Oil giant BP announced on Monday that it has paused all shipments of oil through the Red Sea after attacks by Yemen's Houthi rebel group.

"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," the company said in a statement.

"We will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region," it added.

Since the beginning of the conflict between Israel and Hamas, the Houthi group, which controls large swathes of northern Yemen, has intensified its maritime aggression against Israel-linked ships, launching over ten attacks on vessels in the region.

The Houthis have openly declared their intent to target all ships en route to Israel, irrespective of their national origin, to show solidarity with Hamas.

In addition, the Houthis have issued explicit warnings to international shipping companies, advising against engagement with Israeli ports.