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The rerouting of consumer goods and energy supplies is expected to trigger delays and rising prices.

The rerouting of consumer goods and energy supplies is expected to trigger delays and rising prices.

The rerouting of consumer goods and energy supplies is expected to trigger delays and rising prices.

“You are going to see some fairly seismic activity in terms of the implications for supply chains,” the editor-in-chief of Lloyd’s List told CNBC.

Oil and natural gas giant BP has joined the growing list of companies that have halted their shipments through the Red Sea because of the risk of attack from Yemens Houthi rebels, threatening a major trade route in what is expected to have global effects.

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By Courtney Bonnell Oil and natural gas giant BP has joined the growing list of companies that have halted their shipments through the Red Sea because of

Oil and natural gas giant BP has joined the growing list of companies that have halted their shipments through the Red Sea because of the risk of attack from Yemen’s Houthi rebels

Describing it as a ‘precautionary pause,’ BP said the decision was under ongoing review but that it was prioritizing crew safety

The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants. That has effectively rerouted global trade away from a crucial artery for consumer goods and energy supplies athat is expected to trigger delays and rising prices. BP said Monday that it's “decided to temporarily pause all transits through the Red Sea” including shipments of oil, liquid natural gas and other energy supplies. Oil prices ...