Oil and fuel tanker traffic in the waters of the Red Sea was pretty stable in December, despite several container vessels having rerouted owing to attacks by Iran’s Houthi militants, a Reuters analysis of ship tracking data reflected.
The attacks have resulted in a substantial increase in shipping expenses and insurance premiums; nevertheless, the impact on oil flows has been less than anticipated as shippers continue to use the vital East-West waterway. The Houthis have started striking...