Tesla, Volvo pause production lines, oil prices up amid Red Sea tension - Al-Monitor: The Middle Eastʼs leading independent news source since 2012

Adam Lucente

Jack Dutton , Adam Lucente

Jan 12, 2024

ISMAILIA, EGYPT - JANUARY 10: A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. In the wake of Israel's war on Gaza after the October 7 Hamas attack on Israel, Houthi rebels in Yemen pledged disruption on all ships destined for Israel through the Red Sea's Suez Canal. The disruption on world trade is evident in the number of companies using this container ship route - a 90 per cent decline compared to figures one year ago. (Photo by Sayed Hassan/Getty Images) — A ship transits the Suez Canal toward the Red Sea on Jan. 10, 2024, in Ismailia, Egypt. — Sayed Hassan/Getty Images

A welcoming sign is placed on the shore of the Suez Canal in the northeastern Egyptian city of Ismailiya, May 27, 2021.

Houthi attacks on Red Sea shipping wipe $2B off Suez Canal annual revenue

Rosaleen Carroll

Rosaleen Carroll

A Maersk container ship sails through the new section of the Suez Canal.

Houthi attacks: Hundreds of ships to reroute from Red Sea, 44% cost spike for China

In Bristol, reporting on regional business, climate change, AI, tech

Getty Images

BP, Equinor change oil shipment plans after Red Sea Houthi attacks

In Bristol, reporting on regional business, climate change, AI, tech

A sign is seen at the congress center during the World Economic Forum annual meeting in Davos, Switzerland, Jan. 18, 2023.

Davos 2024: Gaza, Red Sea high on World Economic Forum agenda

In Bristol, reporting on regional business, climate change, AI, tech