An Indian warship provided critical assistance to the Palau-flagged vessel MV Islander after it caught fire following a suspected drone or missile attack in the Gulf of Aden. The Indian Navy s explosive ordnance disposal team embarked the vessel, sanitized it for residual risk, and provided medical assistance to the injured crew member. This incident underscores the Indian Navy s commitment to the safety and security of merchant shipping and seafarers in the region, amid growing concerns over attacks on commercial vessels by militants.
Geopolitical tensions drive Brent crude prices over USD 80/barrel. US targets Iranian proxies, Houthi attacks in Red Sea raise supply disruption concerns. OPEC+ production falls short of pledged cuts. Global demand to increase marginally in 2024, mainly from emerging markets.