A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida.
Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China.
Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint.
And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency.
The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.
Persons:
Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd
Organizations:
Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity
Locations:
Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S