BP Joins Growing Number of Companies in Stopping Red Sea Transits ...Middle East

  Oil major BP joined the growing list of shipping companies that are suspending their operations passing through the Red Sea and Suez Canal as the attacks continued off the coast of Yemen. World oil markets reacted to the news as shipping experts have warned of the potential for growing delays and an impact on global supply chains due to the disruption of shipping operations. The price of oil reversed a multi-day decline jumping one to two percent on world markets Monday morning after BP reported that it was implementing a “precautionary pause,” for all of its vessels sailing through the Red Sea and Suez Canal due to the “deteriorating security situation,” in the region. By midday, the pr

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