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Oil and gas prices rise as BP stops Red Sea shipments

Oil and natural gas prices rose sharply on Monday after BP said it would pause all shipments through the Red Sea because of increased attacks on commercial vessels by Houthi militants in Yemen, a media report said.

Gas hub?

The so-called Persian Pipeline proposed in 2008 which was meant to supply gas from Iranian gas fields to European buyers was always the economically most viable.

Russia pumps gas into Nord Stream 2 pipeline

The first string of the pipeline has undergone pre-commissioning activities to assure the pipeline integrity, while pre-commissioning steps for the second string are underway