On Monday, BP made an announcement stating the temporary suspension of all transits through the Red Sea. This decision comes in response to recent attacks by the Houthi group in Yemen.
“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.
The BP said that it will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region.
The Red Sea is the world’s most frequently used sea route for oil and fuel shipments.
Big shipping firms have begun to stop using Red Sea routes after attacks by the Iran-backed Houthi group.
In November, Yahya Seri, military spokesman of the Houthis, announced on X that the group would target any Israeli-flagged ship in response to Israel’s attacks on the blockaded Gaza Strip.