Oil and gas giant BP Plc said it will pause all shipments through the Red Sea following an escalation of attacks on merchant shipping by Houthi militants.

“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the company said in a statement. 

Europe’s headline natural gas price surged by as much as 7.9% on the news, which is probably the most concrete sign yet of disruption to energy flows following the attacks. Brent oil futures also rose.

The world’s largest container shipping companies said over the past several days that they would put shipments through the waterway on hold following the wave of attacks. Several tanker owners also said they were insisting on options giving them the right to avoid the area.

“We will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region,” BP’s statement said. The decision applies to all the ships that the firm owns and all those it hires.

Avoiding the Red Sea means ships can’t use Egypt’s Suez Canal, forcing them instead to go the long way around Africa. Doing so adds thousands of miles to voyages, delays cargo deliveries and means inflated fuel costs. It also boosts demand for vessels.

A crewing company that puts thousands of crew on ships from a pool of more than 44,000 workers said earlier that it was advising owners to consider alternatives to the Red Sea.

The US and its allies are urgently considering a plan to secure the Red Sea, through which about 12% of global seaborne trade must pass.

BP said that the welfare of its crew is the company’s priority, underscoring that commercial pressures are for now taking a back seat in firm’s decision making.

The canal has emerged as the main route for global LNG trade over the past two years, bolstered by Europe’s appetite for the super-chilled fuel as the main replacement of piped Russia gas.