"Chevron and Aramco CEOs Warn of Real Red Sea Risks to Oil Supply and Prices"

Chevron CEO Michael Wirth expressed concerns about the Houthi attacks in the Red Sea, stating that the situation poses significant risks to oil flows and prices. Chevron, along with competitors Shell and BP, has suspended shipments through the Red Sea due to the attacks. The ongoing conflict has led to a U.S. military response and raised discussions about potentially reversing the foreign terrorist organization label imposed on the Houthis. The situation has also prompted warnings about potential impacts on consumer goods prices and European pocketbooks.