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.
Reported by City AM · How we write briefs