Oil and gas giant BP said it will pause all shipments through the Red Sea following an escalation of attacks on merchant shipping by Houthi militants.
US Central Command reported the Strinda was attacked at 4 pm EST on December 11. It reported an anti-ship cruise missile struck the vessel while passing through Bab-el-Mandeb.
Saudi Aramco will increase spending and issue bonus shares as oil’s surge to more than $100 a barrel bolsters the company’s plan to boost production.
The United Arab Emirates has destroyed two ballistic missiles launched from Yemen this morning.
Two explosions have occurred in Abu Dhabi, close to the capital, in what is rumoured to be a terrorist attack.
Saudi Arabia has confirmed a missile attack on a fuel tank in the city of Jeddah, claimed by Houthi rebels in Yemen.
Saudi Arabia has written to the United Nations Security Council warning of an “oil spot” has been detected offshore Yemen.
The United Nations Security Council will discuss the outlook for the Safer tanker, a floating oil storage vessel off Yemen in a state of disrepair.
Iran has said this month's missile-and-drone attack by Yemen's rebels on major Saudi oil sites was an act of "legitimate defence" by the Iran-allied Houthis.
Drones claimed by Yemen's Houthi rebels have attacked the world's largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco.