Oil and natural gas prices rose sharply Monday after BP (BP) said it would pause all shipments through the Red Sea because of increased attacks on commercial vessels by Houthi militants from Yemen. The decision by one of the world’s biggest oil companies follows similar moves by major shipping firms, …

In the past week, Iran-backed Houthi rebels in Yemen have fired missiles at container ships in the Red Sea in addition to attacking US and allied warships. Houthi representatives have said that those attacks will continue against ships related to Israel in any way, to support Hamas and as a …

For years, a Yemen-based Islamist group called the Houthis have periodically attacked ships traversing the Bab el-Mandeb Strait at the opening of the Red Sea. These attacks were focused on Saudi or Emirati vessels, typically carrying medical supplies, weapons, or oil, and they occurred during flare-ups in the ongoing conflict …