"Chevron CEO Warns of Red Sea Risk to Oil Supply and Price Volatility"

Chevron CEO Michael Wirth warns of the very real risk to oil flows in the Red Sea, with potential for rapid price changes if tensions lead to a major supply disruption in the Middle East. Shell has suspended shipments through the Red Sea, following attacks by Houthi militants. U.S. National Security Advisor Jake Sullivan calls for a unified global response to the Houthi threat, while analysts highlight the potential for a regional conflict to disrupt crude oil flows. Chevron has experienced attacks on its ships by the Iranian Navy, and Iran recently seized an oil tanker in the Gulf of Oman.