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The Latest Breaking News from The Red Sea

Crude Closes Sharply Lower as Saudi Price Cuts Signal Weak Energy Demand

February WTI crude oil (CLG24 ) on Monday closed down -3.04 (-4.12%), and Feb RBOB gasoline (RBG24 ) closed down -7.77 (-3.69%). Crude oil and gasoline prices on Monday sold off sharply, with gasoline falling to a 3-1/2 week low. Concern that global oil demand is worsening is undercutting crude...

Barchart

Attacks on cargo ships in the Red Sea threaten Australia's trade – we need a Plan B

Australia is 11,000 kilometres from the Red Sea but it is not immune from the drone and missile attacks on container ships attempting to move through one of the world’s busiest thoroughfares.

The Conversation

Crude Plunges as Saudi Price Cuts Signal Weak Energy Demand

February WTI crude oil (CLG24 ) this morning is down -3.31 (-4.48%), and Feb RBOB gasoline (RBG24 ) is down -7.30 (-3.47%). Crude oil and gasoline prices this morning are sharply lower, with gasoline falling to a 3-1/2 week low. Concern that global oil demand is worsening is undercutting crude...

Barchart

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Fears are rising of ‘regional escalation’ in the Middle East. But that wider war is already here

Conflict in Gaza has spilled over into Lebanon, Yemen, Iran and the Red Sea. This powder keg cannot be ignored, says Guardian columnist Nesrine Malik

The Guardian - UK

Australia turns up diplomatic heat with ceasefire call

Australia's public call for a ceasefire to end suffering in Gaza is unlikely to go further with Canberra favouring diplomatic channels to air its grievances.

AAP

Houthi attacks are reaching boiling point – but a US-led military response would be a grave error

Targeting Yemen would fan the flames of a greater conflict in the Middle East, says Mohamad Bazzi

The Guardian - UK

Israel, Gaza, Lebanon, Iran … how far could war in the Middle East spread?

Attacks in the Red Sea. An airstrike in Baghdad. As the conflict with Hamas bleeds across borders, is wider violence inevitable?

The Guardian - UK

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Houthis escalate attacks, pressure mounts for US military response

In this engaging interview, retired Army Colonel Joe Buccino discusses the need for an offensive approach in countering Iran-backed Houthis in the Red Sea.

Top News

Will the Houthi Red Sea attacks destabilise Yemen’s fragile peace?

The strikes have helped the Yemeni group gain recruits – and a domestic buildup of might could strain ceasefire attempts

Al Jazeera

Creation of Palestinian state is only way to peace, EU foreign policy chief says – as it happened

Josep Borrell wants European-Arab initiative to revive a peace process, with the ultimate aim being a two-state solution

The Guardian - AU

As Middle East crisis grows, does Iran have control of its proxy forces?

Chances of a regional flare-up rest on the unclear intentions of Tehran and the groups it has nurtured

The Guardian - UK

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Barchart

Crude Settles Higher on Dollar Weakness and Global Supply Concerns

February WTI crude oil (CLG24 ) on Friday closed up +1.62 (+2.24%), and Feb RBOB gasoline (RBG24 ) closed down -0.46 (-0.22%). Crude oil and gasoline prices on Friday settled mixed, with crude posting a 1-week high. A reversal in the dollar Friday boosted energy prices after the dollar index...

International Business Times

Global Maritime Trade Sails Into Geopolitical Storm

International maritime trade has hit stormy waters as attacks by Yemen's Huthi rebels on ships in the Red Sea has reduced the availability of ships, causing freight rates to surge.

Barchart

Crude Prices Climb on Dollar Weakness and Global Supply Concerns

February WTI crude oil (CLG24 ) this morning is up +1.82 (+2.52%), and Feb RBOB gasoline (RBG24 ) is up +1.40 (+0.66%). Crude oil and gasoline prices this morning are moderately higher, with crude posting a 1-week high. A reversal in the dollar today boosted energy prices after the dollar...

Al Jazeera

Shipping giant Maersk to avoid Red Sea routes for ‘foreseeable future’

Due to ‘volatile’ situation amid Houthi attacks, ships will go around Africa, increasing journey times and costs.

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International Business Times

Maersk Says To Avoid Red Sea For Foreseeable Future

Shipping giant Maersk said Friday that it would divert all vessels around Africa instead of using the Red Sea and Suez Canal for the "foreseeable future" after Yemeni rebels attacked its merchant ships.

Evening Standard

London shipbroker Clarkson ups profit forecasts

Piracy in the Red Sea is lifting demand in the industry as vessels take longer routes to avoid the area

International Business Times

Israel-Hamas Conflict: Iraq Moves To 'Permanently' End US-Led Mission; Islamic State Claims Iran Attacks

On Day 91 of the Israel-Hamas war, there is growing concern over a potential regional spillover following three days of escalated tensions due to explosions in Iran, the assassination of a Hamas senior leader in Beirut, Houthi disruptions in the Red Sea and the killing of a pro-Iranian Iraqi militia's…

Barchart

Crude Prices Fall as Weak Demand Boosts Weekly EIA Product Inventories

February WTI crude oil (CLG24 ) on Thursday closed down -0.51 (-0.70%), and Feb RBOB gasoline (RBG24 ) closed down -4.80 (-2.22%). Crude oil and gasoline prices Thursday gave up an early advance and turned lower weekly inventories of crude products unexpectedly rose in Thursday's weekly EIA report, a sign...

The Independent UK

Blinken heads to the Mideast again as fears of regional conflict surge

Secretary of State Antony Blinken heads to the Middle East this weekend for the fourth time since the Israel-Hamas war erupted in October as once-abated fears about a regional conflagration are surging with attacks and assassinations in the Red Sea, Lebanon, Iran and Iraq

Barchart

Crude Prices Fall on an Unexpected Build in Weekly Product Inventories

February WTI crude oil (CLG24 ) this morning is down -1.51 (-2.08%), and Feb RBOB gasoline (RBG24 ) is down -6.96 (-3.23%). Crude oil and gasoline prices this morning gave up an early advance and turned lower after an unexpected build in crude products in today's weekly EIA report, a...

Evening Standard

Lord Cameron warns Iran-backed Houthi rebels Britain will 'act' to stop Red Sea missile attacks on ships

America, the UK and other allies have sent what amounts to a final warning to Iran-backed Houthi rebels to end their attacks on vessels in the Red Sea or face potential targeted military action

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