A man walks past a BP gas station in London, Nov 1, 2022. (PHOTO / AP)

LONDON/SANAA - Oil giant BP announced on Monday that it has paused all shipments of oil through the Red Sea after attacks by Yemen's Houthi rebel group.

"In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea," the company said in a statement.

"We will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region," it added.

Oil prices jumped on the announcement. Brent crude, a global benchmark, rose more than 2 percent on Monday afternoon to above $78 per barrel, erasing earlier loss.

A Houthi spokesman reiterated that the group would not harm ships passing through, excluding those heading to Israeli ports, while asking all voyaging ships to "keep the communication devices open"

Also on Monday, the United Kingdom Maritime Trade Operations (UKMTO) authority said it had received a report of a possible explosion south of the Yemeni port of Mokha on the Red Sea coast. Later it reported some more incidents in the area, with no further information given.

READ MORE: Egypt monitoring Red Sea tension as ships avoid Suez Canal

The Houthi militia on Monday claimed responsibility for attacks on an oil ship and a cargo ship in the southern part of the Red Sea, near the Bab al-Mandab Strait. It said that one was the Swan Atlantic loaded with oil, and the other was the MSC Clara carrying containers.

"The attack came after the two ships' crews refused to respond to calls from our naval forces," Houthi military spokesman Yehya Sarea said in a statement aired by the Houthi-run al-Masirah TV.

The spokesman reiterated that the group would not harm ships passing through, excluding those heading to Israeli ports, while asking all voyaging ships to "keep the communication devices open."

ALSO READ: Israel sends corvette to southern coast amid Houthi attacks

"We confirm that we will continue to prevent all ships heading to Israeli ports from navigating in the Red Sea and Arab Sea, irrespective of their national origin, unless more food and medicine are allowed into the Gaza Strip," Sarea added.

A picture taken during an organized tour by Yemen's Houthi rebels on Nov 22, 2023, shows the Galaxy Leader cargo ship (right), seized by Houthi fighters two days earlier, approaching the port in the Red Sea off Yemen's province of Hodeida. (PHOTO / AFP)

Since the beginning of the conflict between Israel and Hamas, the Houthi group, which controls large swathes of northern Yemen, has intensified its maritime aggression against Israel-linked ships, launching over ten attacks on vessels in the region.

Logistics company Flexport said if this situation persists, in a worst-case scenario about 25 percent of global capacity would be removed from the market

The Houthis have openly declared their intent to target all ships en route to Israel, irrespective of their national origin, to show solidarity with Hamas.

In addition, the Houthis have issued explicit warnings to international shipping companies, advising against engagement with Israeli ports.

READ MORE: Houthis claim attack on Israel-bound cargo ship in Red Sea

Industry giant Maersk was the first to advise its fleet on Friday to halt all voyages through the Bab al-Mandab Strait, a narrow sea passage near Yemen, which holds immense strategic significance, serving as a major artery for global oil shipments and as a crucial gateway to the Suez Canal.

Other shipping leaders, including Switzerland's MSC, France's CMA CGM, and Germany's Hapag-Lloyd, quickly followed suit, expressing similar worries over maritime security in the region.

If this situation persists, in a worst-case scenario about 25 percent of global capacity would be removed from the market as vessels are forced to sail around the Cape of Good Hope, extending transit times and lengthening the amount of time it takes for each vessel to complete its voyage, according to logistics company Flexport.

ALSO READ: Yemen denies joining US-led coalition against Houthi attacks

"It's too early to determine the impact this will have on international shipping, and is worth noting that the situation is evolving quickly," Flexport said.

As the Suez Canal is a critical artery in global logistics, it noted, "blockages can cause global backlogs of container vessels and shipping delays for everyday goods around the world."