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BP pauses all Red Sea shipments after rebel attacks

Oil giant BP has announced it is pausing all shipments of oil through the Red Sea after recent attacks on vessels by Houthi rebels.

The company blamed the "deteriorating security situation" in the region as Houthis target ships they believe are bound for Israel.

Many freight firms have suspended journeys as the attacks continue.

BP said it would keep its "precautionary pause under ongoing review" and monitor the region.

Analysts suggested that if other large oil firms follow suit, prices could rise. Brent crude, the international benchmark for oil prices, increased to $79.35 per barrel.




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