The Galaxy Leader, an Israeli-owned ship, was seized by Iran-backed Houthi rebels in the Red Sea as retaliation for the war in Gaza. The Houthis vowed to target Israeli ships until the military operation against Hamas concludes. This incident raises concerns about disruptions in a key shipping route. Despite the tensions, the oil market remained relatively unaffected as attention shifted to an upcoming OPEC meeting. Iran denied involvement, stating that regional resistance groups make independent decisions. Israeli Prime Minister Netanyahu condemned the action, emphasizing the significant escalation of tensions in the Red Sea.

SOURCE : GOOGLE