The Latest Breaking News from Red Sea

The Saudi-led coalition fighting Iran-aligned Houthi forces in Yemen said it had destroyed a small Houthi boat in the south of the Red Sea that was loaded with explosives, Saudi state television reported on Friday.

There is no "immediate solution" to high oil prices, Bruno Jean-Richard Itoua, president of the Organization of the Petroleum Exporting Countries (OPEC), said on Wednesday. The oil-producing countries' capacity to increase crude supply is curtailed by a lack of investment in the industry, said Itoua, who is also Congo’s minister…

An agreement has been reached in principle on a UN-coordinated proposal that would transfer more than 1 million barrels of crude oil from a tanker that has been moored off the coast of war-torn Yemen since the 1980s to another ship, the UN humanitarian chief said Tuesday. Martin Griffiths told…

Works are under way to expand the two-way section of the Suez canal to 82 km (51 miles) from 72 km, the chairman of the authority managing the Egyptian waterway said on Tuesday. Suez Canal Authority Chairman Osama Rabie told a news conference that it would be too expensive to…