Tanker companies temporarily halt traffic toward Red Sea after U.S. airstrikes on Houthis

Hafnia, Torm, and Stena Bulk have halted traffic toward the Red Sea after airstrikes on Houthi militants in Yemen. The multinational coalition has advised ships to avoid the Bab el-Mandeb Strait for several days. Several major tanker companies, including Hafnia, Torm, and Stena Bulk, responded to the advisory and halted traffic towards the trade gateway. The Bab el-Mandeb Strait connects the Red Sea with the Gulf of Aden, and approximately 7 million barrels of crude oil and products transit it daily. The situation is being closely monitored, and oil prices have experienced fluctuations in response. The Houthis have vowed to retaliate against the airstrikes.