Red Sea

Oil prices rose on Friday after OPEC+ decided to keep its oil production policy unchanged, although prices were on track for a weekly drop due to unfounded reports of a ceasefire between Israel and Hamas.

Russian oil tankers continue to sail the Red Sea with little interruption due to Houthi attacks, as they have fewer ties to the Western countries targeted by the attacks, Reuters reports.

Secretary of the Pentagon Lloyd Austin and UK Defense Secretary Grant Shapps discussed further joint support for Ukraine against Russian aggression.

The EU plans to launch a naval mission in the Red Sea within the next three weeks to protect cargo ships from Houthi attacks in Yemen and reduce trade disruptions.

Ukraine needs more ammunition to defend itself against a Russian invasion, EU foreign policy chief Josep Borrell said before a meeting with EU defense ministers.

The Houthis claim to have fired missiles at a U. S. warship in the Red Sea, AFP reports.

The US military launched an air strike on Yemen on January 27, targeting a Houthi anti-ship missile that was ready to launch and posed a threat to commercial vessels and US Navy ships in the Red Sea region.

A Houthi missile hit the Trafigura tanker carrying Russian fuel in the Red Sea, causing a fire on board. Warships were sent to help the vessel.