Business · 25 July 2026

Insurance broker Gallagher tells ships to avoid the Red Sea after tanker attacks

Brent crude oil reached $102 a barrel this week because the spreading Middle East conflict threatens major shipping lanes. The warning follows an incident on Wednesday when the Iran-backed Houthi group fired missiles at two Saudi vessels navigating the strait. One of those ships caught fire, but the London firm says it will still provide policies if owners insist.

By BriefTea Editorial · 25 July 2026 at 10:47

Reported by City AM · How we write briefs

Get the app

More briefs

BusinessLockheed Martin may build UK's new £2bn Skynet satellites BusinessKFC dropping Pepsi for Coca-Cola in all US restaurants by early 2027 BusinessSome Anthropic investors reportedly eye $1.5tn valuation, down from the $2tn expected BusinessLondon's top shares reach a seven-week high as investors buy safer British businesses BusinessThames Water needs £2.4B more to avoid government takeover BusinessBritish pound rises against the dollar after the UK economy unexpectedly grows More business stories → Browse all stories →