Houthi attacks grind shipping in the Red Sea to a halt
Violence related to the Israel-Hamas conflict is disrupting global trade, with oil tankers idling and container vessels rerouting around Africa. European oil and gas giants are avoiding the Yemeni coast due to increased attacks, impacting Suez Canal traffic. The US and allies are forming a naval task force to counter the threat. The conflict's toll is felt in surging energy prices, longer shipping routes, and disruptions in a vital trade corridor, posing challenges to global supply chains and risking inflation.
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Houthi Attacks Start Shutting Down Red Sea Merchant Shipping
By Rachel Graham, Brendan Murray and Alex Longley
Shipping in the Red Sea is grinding to a halt with oil tankers idling and container vessels rerouting around Africa as violence linked to the Israel-Hamas war threatens to undermine the global economy.
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