Crude oil prices recovered from earlier weakness and turned sharply higher by mid-day in London. The gains follow last week’s first positive close in seven, as more signs emerge that oil prices have finally found a bottom. Helping to fuel today’s rally was news concerning the situation in the Red Sea. Several freight firms have suspended journeys through the strait as the attacks continue from Houthis on vessels en route to Israel. This has resulted in many companies redirecting cargoes around the south coast of Africa, increasing the shipping costs for oil exporters. Oil giant BP said it is pausing all shipments of ... (full story)