Oil company BP said it was suspending all shipping through it Red Sea due to the “deteriorating security situation” following a series of attacks in recent weeks by Yemen’s Iran-backed Houthi rebels.

In a statement the company said it had “decided to temporarily stop all crossings through the Red Sea. We will keep this precautionary pause under constant review, depending on the evolving circumstances in the region.”

The decision comes after major shipping companies Maersk, Hapag-Lloyd and CMA CGM Group decided to suspend shipping through the Red Sea after Houthi forces targeted commercial ships in the Red Sea.

Iran-backed Houthi rebels have repeatedly attacked merchant ships with drones and missiles in recent weeks. In November they seized a cargo ship bound for Israel, taking its crew hostage. They have also fired missiles at Israel, one of which was intercepted by a US Navy destroyer in October.