U.S. has emerged as Europeâs top supplier of crude, diesel and LNG as the Red Sea crisis prolongs. | Photo Credit: Reuters The United States has taken the top spot as Europe’s supplier of crude oil, diesel, and liquefied natural gas (LNG) in recent months, capitalising on reduced imports from east of Suez caused by … Read more
Iran’s Foreign Minister Hossein Amirabdollahian. File | Photo Credit: Reuters Business chiefs warned on January 17 that disruption to shipping in the Red Sea caused by attacks by Yemen’s Houthi militants could affect supply chains for months and lead to a shortage of tankers needed to transport fuel. Attacks by the Iran-allied Houthi militia on … Read more
The attacks on commercial ships in the Red Sea by Yemen’s Iran-backed Houthi rebels have rerouted most of the trade normally flowing through the crucial maritime artery for consumer goods and energy supplies, a shift that’s delaying shipments and raising transport costs. The impact struck home Friday when electric car maker Tesla said it had … Read more