Yemen s Iran-backed Huthi rebels have resumed attacks on Red Sea shipping, targeting a Greek commercial vessel and other ships in recent incidents. The rebels launched missiles and drones at the ships, including a Maltese-flagged vessel, MV Cyclades, and two US vessels. The attacks, part of a series of incidents since November, have raised concerns about the safety of shipping routes in the region. The Huthis claim solidarity with Palestinians during the Israel-Hamas conflict and vow to continue attacks until Israel stops its actions in Gaza.
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.
LONDON, Feb 20 Yemen’s Houthi militants said yesterday they had attacked the Rubymar cargo vessel in the Gulf of Aden which was at risk of sinking, raising the stakes in.