The European Union member states are said to have agreed on the details of the Aspides operation aimed at ensuring the security of commercial shipping in the Red Sea, German news agency DPA reported on Thursday. The launch of the military operation is expected to be officially confirmed during the bloc’s foreign minister’s meeting in Brussels on February 19. Namely, the mission’s headquarters is expected to be set up in the Greek city of Larissa, the outlet said. Previously, European Union’s High Representative for Foreign Affairs and Security Policy Josep Borrell noted that the bloc’s planned maritime mission will be “purely defensive” and protect commercial vessels from the Houthi group’s attacks.
Oil extends gains, rises 2.5%
The prices of oil futures continued to grow on Thursday following reports that the European Union agreed to conduct a military operation in the Red Sea in order to ensure the security of commercial shipping. The news seemingly created worries that the conflict in the Middle East could become even greater, potentially affecting the supply of crude. West Texas Intermediate (WTI) for March contracts surged 2.56% to $75.78 per barrel at 11:47 am ET. Brent for April deliveries jumped 2.51% to $81.20 per barrel.