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☆ Oil extends losses in early Asian trade
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +2 min

A view of decaying FSO Safer oil tanker anchored 60 kilometers (37 miles) north of the port of Hudaydah, Yemen on July 15, 2023. Oil prices fell in early Asian trading on Monday, extending losses from the previous session after oil ended the week 2-3% lower amid market concerns that higher-than-expected inflation could delay U.S. interest rate cuts. Brent crude futures fell 34 cents to $81.28 a barrel by 0121 GMT, while U.S. West Texas Intermediate crude futures (WTI) declined 33 cents to $76.16 a barrel. "Crude oil prices declined for want of fresh drivers," ANZ analysts wrote in a note. While Iran-aligned Houthis have continued their attacks on shipping in the Red Sea, the Israel-Hamas war has not significantly constrained oil supply.

Persons: Jake Sullivan, Benjamin Netanyahu, Brent, WTI Organizations: Brent, U.S, West Texas, ANZ, White House, CNN, Sunday, Israeli, U.S . Energy, Administration Locations: Hudaydah, Yemen, China, Iran, Red, Israel, United States, Egypt, Qatar, Paris

☆ Middle East escalation fears spike as Houthis launch most damaging attack yet
▼ + stars: | 2024-02-20 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Houthi military spokesman Yahya Saree claimed the group's responsibility for the attack, calling it their most severe yet. The group claim to support Palestinian civilians amid Israel's retaliatory military campaign in the Gaza Strip. Simultaneously, fighting is raging between Israel and Hamas in the Gaza Strip with no sign of abating despite diplomatic efforts by a number of countries. INTERNATIONAL WATERS RED SEA, YEMEN - NOVEMBER 20: This handout screen grab captured from a video shows Yemen's Houthi fighters' takeover of the Galaxy Leader Cargo in the Red Sea coast off Hudaydah, on November 20, 2023 in the Red Sea, Yemen. EU foreign ministers called in a joint statement for an immediate humanitarian pause that would lead to a lasting cease-fire.

Persons: Mohammed Huwais, Yemen's, Yahya Saree, Saree, Charles Myers, CNBC's, Myers, Hungary —, Israel's, Benjamin Netanyahu, Israel, hasn't, Mohammed Abed Organizations: Hamas, Afp, Getty, U.S . Central Command, Global Advisors, SEA, Galaxy Leader Cargo, Handout, Security, Palestinian Locations: Israel, Sanaa, Gaza, Red, Belize, Gulf, Aden, Iranian, Yemen, U.S, Gulf Aden, Rafah, Gaza's, YEMEN, Red Sea, Lebanon, Iran, Beirut, Hungary

☆ U.S. Carrying Out New Strikes in Yemen, US Officials Say
▼ + stars: | 2024-02-03 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

By Phil Stewart and Idrees AliWASHINGTON (Reuters) - The United States launched a series of strikes against Iran-linked targets in Yemen on Saturday, three U.S. officials told Reuters, in what appeared to be a second day of retaliatory operations following a deadly attack on American troops last weekend. The officials, who spoke on condition of anonymity, did not provide further details on the locations being struck, but two of them said there were dozens of targets. War in Israel and Gaza View All 194 ImagesThe Houthis, who control the most populous parts of Yemen, say their attacks are in solidarity with Palestinians as Israel strikes Gaza. The United States has previously carried out more than 10 strikes against Houthi targets in the past several weeks, but they have failed to stop attacks by the group. (Reporting by Phil Stewart and Idrees Ali; editing by Jonathan Oatis)

Persons: Phil Stewart, Idrees Ali WASHINGTON, Idrees Ali, Jonathan Oatis Organizations: United, Reuters, Islamic Revolutionary Guard Corps, U.S Locations: United States, Iran, Yemen, Al, Iraq, Syria, Jordan, Yemen's Iran, Red, Israel, Gaza

☆ As more tankers divert from Suez Canal, there's a 'sea change' in way Europe is buying crude
▼ + stars: | 2024-01-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Al HUDAYDAH, YEMEN - JULY 17: Yemen's replacement oil tanker Nautica floats over its arrival to Al Hudaydah port in the Red Sea on July 17, 2023 in Hudaydah, Yemen. (Photo by Mohammed Hamoud/Getty Images)Energy prices for Europe are expected to increase as more petroleum products and crude tankers are diverting away from the Rea Sea and Suez Canal. They would rather go around the Cape of Good Hope versus taking a chance through the Red Sea." LNG vessels travel faster than oil tankers because they are lighter and they can sail up to 21 knots versus the 12-13 knots for crude tankers. Before the Red Sea disruptions, a tanker from Jamnagar, India to Rotterdam, Netherlands would have taken 24 days.

Persons: Al, Mohammed Hamoud, Rea, Viktor Katona, Good Hope, It's, Katona Organizations: United Nations, Europe, U.S, Good Locations: Al HUDAYDAH, YEMEN, Al Hudaydah, Hudaydah, Yemen, Sana'a, Europe, Suez, Brazil, Africa's, Good, Israel, Jamnagar, India, Rotterdam, Netherlands, Basrah, Iraq, Milazzo, Sicily

☆ U.S. in new strikes against Houthi targets in Yemen
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: +1 min

This handout screen grab captured from a video shows Yemen's Houthi fighters' takeover of the Galaxy Leader Cargo in the Red Sea coast off Hudaydah, on November 20, 2023 in the Red Sea, Yemen. The U.S. military said on Wednesday that its forces conducted strikes on 14 Houthi missiles that were loaded to be fired from Yemen. U.S. Central Command said in a statement posted on the social media platform X that the Houthi missiles presented an imminent threat to merchant vessels and U.S. Navy ships in the region. "These strikes, along with other actions we have taken, will degrade the Houthi's capabilities to continue their reckless attacks on international and commercial shipping in the Red Sea, the Bab-el-Mandeb Strait, and the Gulf of Aden," the statement said. Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers.

Persons: Yemen's Organizations: Galaxy Leader Cargo, U.S . Central Command, U.S . Navy, U.S, Command Locations: Red, Red Sea, Yemen, The U.S, U.S, Mandeb, Aden, Iran, Asia, Europe

☆ Opinion: For the Houthis, war is a way of life
▼ + stars: | 2024-01-16 | by ( Peter Bergen | ) edition.cnn.com time to read: +15 min

I think they’re probably ill-advised because I don’t think they’re going to do what they are intended to do. I don’t think they’ll deter the Houthis. This is such an unequal war because the whole character of war has changed. I don’t think it would make the slightest bit of difference whether the US designated them or not. I think they’re on the way to becoming Hezbollah.

Persons: Peter Bergen, CNN —, ”, Elisabeth Kendall, Kendall, PETER BERGEN, ELISABETH KENDALL, It’s, we’re, Elisabeth Kendall BERGEN, KENDALL, KENDALL, it’s, they’ve, didn’t, Abdul Malik al, I’m, Mohammed Hamoud, Donald Trump, Joe Biden, Biden, Trump, They’re, don’t, Ali Abdullah Saleh, Saleh Organizations: New, Arizona State University, Apple, Spotify, CNN, US, Girton College, Cambridge University, Islam, Atlantic Council, Iranian Revolutionary Guard, Iranian Revolutionary Guard Corps, UN, Anadolu Agency, Getty, Foreign Terrorist Organization, United Nations, Hezbollah, United Arab Locations: New America, Yemeni, Red, Yemen, Sanaa, Saudi Arabia, Hudaydah, Suez, Iran, Afghanistan, Iraq, Gaza, BERGEN, Israel, Islam, Kingdom of Saudi Arabia, ”, fragmenting, Washington, America, Beirut, Lebanon, Lebanese, United Arab Emirates

☆ A decaying oil tanker posed a 'catastrophic' risk. Now, a major operation is underway to avert disaster
▼ + stars: | 2023-07-25 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

A view of decaying FSO Safer oil tanker anchored 60 kilometers (37 miles) north of the port of Hudaydah, Yemen on July 15, 2023. The UN has begun a 19-day operation to extract oil from a 47-year-old decaying supertanker as it seeks to end a race against time to avoid a catastrophic oil spill. This led to growing concerns about a potential oil spill four times the size of 1989's Exxon Valdez leak, which was the second-largest oil spill in U.S. history. The oil aboard the tanker began being transferred to a U.N.-owned vessel Yemen, previously known as Nautica, at 10:45 Yemen time Tuesday. "The @UN has begun a complex operation to transfer 1 million barrels of oil from a decaying tanker off the coast of Yemen.

Persons: Exxon Valdez, Bab, Antonio Guterres, David Gressly, Ghiwa Nakat Organizations: UN, Exxon, Greenpeace MENA Locations: Hudaydah, Yemen, Suez, Red

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