The cost of insuring commercial ships that sail past Yemen’s Houthi militants surged after the rebels sank two ships and killed sailors this week, underscoring how the attacks have revived risk in the crucial waterway.

Rescuers launched a search Wednesday for survivors of a Liberian-flagged cargo ship that came under attack from Yemen's Houthi rebels in the Red Sea, authorities said. At least three mariners were killed and two were wounded.

Houthi rebels in Yemen attempted to strike Israel’s Ben Gurion airport after sinking two vessels in the Red Sea this week, as the group ramps up its military pressure in support of Palestinians under Israeli fire in its bid to bring the war in Gaza to an end.