Eritrea Considers Building A Port

By Nizar Manek (Bloomberg) Eritrea is considering building a port on its Red Sea coastline to export potash from deposits being developed in the Horn of Africa nation, a mines ministry official said. Plans for the harbor signal the country’s reemergence as a potential investor destination after its surprise rapprochement with neighboring Ethiopia last month ended two decades … [Read more...]

Saudi Arabia Resumes Oil Exports Through Red Sea Shipping Lane

DUBAI, Aug 4 (Reuters) - Top oil exporter Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb. Saudi Arabia halted temporarily oil shipments through the lane on July 25 after attacks on two oil tankers by Yemen's Iran-aligned Houthi movement. A statement by the Energy Ministry said shipments had … [Read more...]

Israel Warns Iran of Military Response if Key Red Sea Shipping Lane is Closed

JERUSALEM, Aug 1 (Reuters) - Israel would deploy its military if Iran were to try to block the Bab al-Mandeb strait that links the Red Sea to the Gulf of Aden, Prime Minister Benjamin Netanyahu said on Wednesday. Last week, Saudi Arabia said it was suspending oil shipments through the strait, on the main sea route from the Middle East to Europe, after Yemen's Iran-aligned … [Read more...]

Yemen’s Houthis Ready to Halt Red Sea Attacks -Official

DUBAI, July 31 (Reuters) - Yemen's Houthi group said on Tuesday it is ready to unilaterally halt attacks in the Red Sea to support peace efforts, days after Saudi Arabia suspended oil exports through a strategic Red Sea channel following an attack on crude tankers last week. Yemen, where a Saudi-led coalition has been battling the Iranian-aligned Houthi movement in a … [Read more...]

Why Is Saudi Halting Oil Shipments Through the Red Sea?

By Stephen Kalin and Rania El Gamal RIYADH/DUBAI, July 30 (Reuters) - Saudi Arabia announced last week it was suspending oil shipments through the Red Sea's Bab al-Mandeb strait after Yemen’s Iran-aligned Houthis attacked two ships in the waterway. To date, no other exporters have followed suit. A full blockage of the strategic waterway would virtually halt shipment to … [Read more...]