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The Latest Breaking News from The Red Sea

India's engineering exports climb 21% to $11.48 bn as China demand surges 74%

India's engineering exports rose 21% year-on-year to $11.48 billion in June, supported by strong demand from China, the US, Germany and Oman despite shipping disruptions in the Red Sea and Strait of Hormuz. Engineering exports grew 18.09% in the April-June quarter, helping support India's merchandise exports amid rising logistics costs.

The Economic Times

MRPL seeks crude via tender avoiding Red Sea and Hormuz, document shows

Mangalore Refinery and Petrochemicals Ltd is seeking oil imports via a spot tender. The company has asked suppliers to avoid the Red Sea and Strait of Hormuz. This precautionary measure aims to prevent potential disruptions to key maritime oil trade routes. The refiner previously did not award a tender seeking…

The Economic Times

Red Sea shipping slumps after Houthi strikes on Saudi Arabia energy infrastructure

Ship traffic through Bab el-Mandeb declined significantly on Sunday. This occurred after Yemeni Houthis attacked Saudi oil installations along the Red Sea coast. Meanwhile, transit through the Strait of Hormuz stayed low over the weekend. Seven commodity vessels passed through Bab el-Mandeb, the lowest level in months. Red Sea traffic…

The Economic Times

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Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

Yemen's Houthi rebels launched missile and drone attacks on Saudi Arabia Saturday. These strikes were in retaliation for Saudi airstrikes on Hodeida city. The conflict escalates over vital shipping routes in the Red Sea and Strait of Hormuz. Iran reported no new strikes overnight, while tensions remain high. The Bab…

The Economic Times

Ships continue Red Sea transit despite attacks and Houthi blockade: Report

Dozens of vessels navigate the Bab el-Mandeb Strait despite Houthi rebel threats. Growing uncertainty forces ships to alter courses and execute U-turns. Recent attacks on oil tankers threaten global commerce and already strained supply lines. Disruptions in the Red Sea and Strait of Hormuz expose a quarter of global oil.…

The Economic Times

Houthis fire missiles and drones at Saudi Arabia in response to strikes on a Yemeni city

Yemen’s Iran-backed Houthi rebels say they fired missiles and drones at Saudi Arabia in response to Saudi airstrikes on Yemen's strategic Red Sea city of Hodeida

The Independent UK

Missiles targeting Saudi oil refineries shot down

Saudi Arabia intercepted two ballistic missiles from Yemen targeting oil refineries in Yanbu. U.S. forces launched air strikes on Iran after Houthi attacks on Saudi tankers. President Trump vowed major military punishment for Iran and its Houthi allies. The Strait of Hormuz remains a key waterway, with Houthi actions disrupting…

The Economic Times

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Trump has no remaining levers to pull as oil hovers near the $100 ‘psychological’ threshold

Depleted emergency oil reserves create a dangerous game if the Strait of Hormuz and the Red Sea are effectively shuttered.

Fortune

US-Iran conflict expands beyond battlefield as Red Sea attacks open new front

The US-Iran conflict has expanded beyond direct military strikes between the two sides, with Iranian-aligned militants in Yemen targeting shipping routes in the Red Sea. The development comes as Washington and Tehran continue to escalate military pressure, fuelling concerns that neither side can secure a decisive military advantage through force.

The Times of India

Crude oil prices rise 10% this week but China enters fray to push for end to Iran war. What’s next?

Crude oil futures experienced a significant decline on Friday. This drop followed reports of China's initiative to restart stalled US-Iran peace negotiations. Despite the fall, both Brent and West Texas Intermediate crude are set for weekly gains. Geopolitical developments continue to heavily influence global oil prices and supply concerns. Experts…

The Economic Times

US military says it fired on another merchant vessel trying to breach its blockade of Iranian ports

The US disabled a second merchant vessel enforcing its blockade of Iranian ports as Iran targeted US-linked bases across the Gulf. Fighting intensified for a 13th consecutive night, with Saudi-Houthi clashes worsening regional tensions. Despite renewed diplomatic contacts, no breakthrough emerged, while disrupted shipping, rising oil prices and mounting casualties…

The Economic Times

Houthis target Saudi oil facilities as new Middle East front

Yemen's Iran-backed Houthi rebels launched missiles and drones at Saudi Arabia's oil infrastructure on Saturday, retaliating for Saudi strikes in Yemen and intensifying a regional conflict that is increasingly threatening energy supplies and vital shipping lanes.

France 24

Chip Stock Sell-off Puts Downward Pressure on Broader Market

The S&P 500 Index ($SPX ) (SPY ) on Friday fell -0.08%, the Dow Jones Industrial Average ($DOWI ) (DIA ) rose +0.39%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell -1.27%. September E-mini S&P futures (ESU26 ) fell -0.08%, and September E-mini Nasdaq futures (NQU26 ) fell...

Barchart

The Houthis Are Striking Ships Carrying Saudi Oil In The Red Sea. Tankers Are Seeking Other Routes

Some tankers are avoiding the Red Sea and will sail to Asia through the Suez Canal after the Houthis began striking ships carrying Saudi oil in the waterway, a new report detailed.

International Business Times

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The Economic Times

Explosions are heard near a US base in northern Iraq as US-Iran fighting escalates

Explosions sounded near a U.S. base in Iraq and sirens rang out in Bahrain on Friday. The U.S. military conducted its thirteenth night of strikes against Iran in recent weeks. Iran has attacked ships in the Strait of Hormuz and targeted U.S. assets and allies. Houthi rebels also targeted Saudi…

Radio France Internationale

European Union slams 'inflammatory' Houthi Red Sea tanker attack

The European Union's top diplomat demanded on Thursday that the Houthis cease attacks on ships in the Red Sea, after a Saudi vessel was hit by the Iran-backed rebels.

The Independent UK

Iran-US war latest: Trump insists Tehran can’t have a nuclear weapon as Houthis claim missile attack on Saudi Arabia

Trump says he doesn’t ‘think it’s time yet’ to agree to a deal

The Economic Times

Why did market fall today? Sensex slumps 332 points, Nifty closes below 23,800. 7 key reasons

Indian stock markets experienced sharp losses for a fifth straight session on Friday. Sensex and Nifty indices saw significant drops, reflecting investor concerns. Oil prices exceeding $100 per barrel and FII selling fueled the downturn. Broader markets and specific sectors also registered substantial declines. This selloff erased over Rs 3…

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France 24

Trump says US and Iran are talking, but Tehran not yet ready for a deal

President Donald Trump on Friday said the US and Iran were in ‌talks to negotiate ⁠an end to their ‌conflict, but repeated that ⁠Tehran was not yet ready for a deal. In Yemen, the Houthis said they were not seeking to close the key Bab al-Mandeb Strait and that their…

The Economic Times

Oil Price Today (July 24): Crude oil dips below $100 but up 13% this week as supply tensions mount. $120 per barrel possible?

Brent futures fell 81 cents, or 1%, to $99.68 a barrel at 0126 GMT, but were still set for a 13.5% rise this week. West Texas Intermediate (WTI) futures dropped 70 cents, or 0.76%, to $91.49 a barrel and were on track for a 11% weekly gain.

The Economic Times

Oil set for weekly rise amid Red Sea shipping attacks, Kazakhstan output cuts

Oil prices are poised for weekly gains amid Red Sea shipping concerns. Houthi attacks on tankers have raised fears about a key shipping route. Kazakhstan has also temporarily reduced oil output after drone attacks. Its main Black Sea export terminal faced a temporary closure. These disruptions are tightening global energy…

The Economic Times

Trump threatens 'major military punishment' after Houthi strike on Saudi tankers

President Trump vowed major military punishment for Iran and its Houthi allies. Houthi fighters struck two Saudi oil tankers in the Red Sea. Global oil prices surged significantly after the attacks on shipping routes. Iran also reported missile strikes on U.S. military sites in Jordan and Kuwait. These escalating events…

France 24

Trump threatens Iran and Houthi rebels with 'major military punishment'

Iran and the United States threatened to intensify attacks on Thursday after Yemen's Houthi rebels struck Saudi oil tankers in the Red Sea, driving Brent crude above $100 a barrel and fuelling fears of a widening regional conflict and renewed pressure on the global economy.

The Guardian - UK

Donald Trump says decision on ‘massive attack’ against Iran is close

President’s remarks follow Houthi strikes on Saudi tankers in the Red Sea and oil prices rising past $100 a barrel again

The Economic Times

Oil crosses $100: A 'perfect hurricane' can trigger bigger shock soon

Brent crude has surged past $100 as escalating Middle East tensions threaten two critical oil chokepoints — the Strait of Hormuz and Bab el-Mandeb — at the same time. While markets were already grappling with disruptions in Hormuz due to the US-Iran conflict, fresh Houthi attacks on Saudi oil tankers…

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