Tankers are returning to the Red Sea to ship Indian fuel to Europe as insurance costs fall, according to UK shipbroker Braemar.

Diesel and jet exports are being switched to the shorter route via the Suez Canal during the Houthi militia ceasing attacks on all but Israeli-linked vessels.

Flows of oil reaching the Bab el-Mandeb strait have climbed following a halving of insurance bills, the London shop said.