World News
Yemen's Houthi Movement Threatens Israeli Ships in Red Sea
Yemen's Houthi movement has threatened Israel-linked shipping operating in the Red Sea.
The Houthis will ban Israeli maritime navigation in the Red Sea, news agency Reuters reported on Monday, citing comments from the group.
The group plans first to prevent Israeli ships from transiting the Red Sea, before moving on to stopping the passage of ships bound for Israel, according to the report.
There have been repeated warnings of the Houthis closing the Red Sea to international shipping since the outbreak of the recent conflict in and around Iran, but as yet no such action has been taken. The Houthi movement is heavily supported by Iran.
The largest international shipping companies have in any case largely been avoiding the Red Sea and Suez Canal for several years in response to previous Houthi attacks, though these attacks had largely stopped more than a year ago.
But Saudi Arabia has substantially increased oil exports via the Red Sea port of Yanbu in recent months in response to the closure of the Strait of Hormuz. If the tankers taking these shipments could be targeted by the Houthis, this would be a significant blow to the oil market.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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