Oil prices rose by more than 2 percent on Monday as various companies, including BP, suspend shipping operations in the Red Sea amid attacks by Yemen's Houthi rebels on multiple vessels. The price of Brent Crude Oil, a European benchmark used for global market purchases, rose to $78.50 a barrel on Monday, an estimated 2.5 percent increase over the previous day, according to MarketWatch. The jump comes just hours after London-based BP on Monday announced it would temporarily pause all transits through the Red Sea "in light of the deteriorating security situation for shipping" along the major trade route. Houthi rebels in recent weeks have upped their attacks against Israeli-lin
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