Markets move as big companies prepare to set sail again in the Suez Canal.

Hello, you're listening to the Marketplace Morning Report.

Live from the BBC World Service, I'm Leanna Byrne and a very good morning too. It's calm seas for oil prices today after a slide yesterday with Brent at $79 a barrel.

And it's because concerns over supplies going through the Red Sea are easing.

It's one of the world's most important

shipping routes because the Suez Canal is essentially a shortcut for ships

traveling between Europe and Asia and it handles about 12% of global seaborne

trade.

In recent weeks, Huti rebels based in Yemen have attacked ships

and retaliation for Israel's war in Gaza.

Most of the major shipping lines have stopped using the route,

but some are returning returning such as France's

CMA CGM and Denmark's Merck. Here's the BBC's business reporter Jonathan

Joseph's. Mersk have decided that they can now sail through the Red Sea and the Sioux

is canal because of the safety guarantee that have been provided by this

international coalition of warships led by the United States called Operation Prosperity Guardian.

They think that with that they can sail safely through, but they have said that they will

reassess things on a case-by-case basis that there may still be some

diversions around the Cape of Good Hope around the bottom of Africa there but that

the safety of their crew members is their number one priority and that's in

contrast to what we've heard from Hapag Lloyd, the German

shipping line which is the fifth biggest in the world and they think it's still

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