There are growing fears that an extended period of disruption to supplies of imported goods will raise costs for customers in the weeks and months ahead.
Shell has refused to comment on a report that it has suspended shipments through the Red Sea amid attacks on freight by Iran-linked Houthi rebels.
The oil and gas major was said, by the Wall Street Journal (WSJ), to have taken the decision last week to avoid the short route to Europe via the Suez Canal indefinitely.
The paper, citing a number of sources, said there was concern within the company that US and UK strikes on Houthi targets in Yemen could be met with further escalation, placing crews and vessels at a greater risk.
Such a dumb thing to say. You don’t negotiate with terrorists because then they know terror works. Only outcome from that is increase in the amount of terror actions and increase in demands.