Firms have been forced to take longer, more expensive journeys to ship their goods rather than using the Red Sea, in order to avoid attacks by the Houthis.
Muhammad Ali Al-Houthi condemns American-British strikes in Yemen, alleging aid to Gaza blockade; Red Sea shipping attacks persist.
While a possible ceasefire meant crude might move more freely globally, a lower US oil rig count and the potential for easing US interest rates helped support prices.
Chief negotiator for the Houthi movement told Reuters that they have provided assurances to both China and Russia that their vessels will pass through the Red Sea unprovoked by the Houthis.
Barnea to meet Burns in Qatar, Blinken says gaps narrow in hostage talks • IDF arrests 650, including 'senior Hamas officials,' in Shifa
According to witnesses, the blast was so powerful that it also buried additional victims under the rubble, prompting emergency services to conduct rescue operations.
The Houthi attacks in Bab el-Mandeb strait have completely halted the trade activities of the Port of Eilat, placing it in a complicated financial situation.
The IDF said it is probing why the missile was not shot down.
Canada to stop arms sales to Israel • Houthis penetrated Eilat missile defense • Reports IDF killed Gaza high court judge
Houthi attacks escalate, Iran's influence grows. US responds with airstrikes as tensions rise with joint naval drills involving Russia and China.
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