Attacks by Houthis in Red Sea likely to drive up crude prices
1 year, 2 months ago

Attacks by Houthis in Red Sea likely to drive up crude prices

Op India  

The intensified attacks on commercial and merchant ships in the Red Sea by Iran-backed Shiite Houthi rebels could drastically surge prices of oil, and insurance premiums for ships and other goods, creating a domino effect for inflation, as warned by experts. Following these attacks, several major oil and shipping firms have announced to either suspend or re-route the trade away from the Red Sea creating a major disruption in the maritime trade. Unlike the Suez Canal blockade which was a result of an oversized container ship named ‘Ever Given’ running aground by a “gust of wind”, the attacks by Houthis have put the safety of the entire shipping route in the Red Sea in jeopardy. Resultantly, considering the strategic importance of the unhindered and safe trading route through the Red Sea, the US today announced a 10-nation naval force to combat Houthi rebels threatening maritime trade in the region. Despite the US announcement of the international operation aimed at securing safe passage through the Red Sea, Maersk indicated that the timeline for resuming trade along the route remains uncertain.

History of this topic

Red Sea insurance rates to stay firm as US airstrikes raise fears for ships
1 day, 2 hours ago
Is US Navy LOSING to Iran-backed rebels in Red Sea? How Houthis armed with basic drones have made vital shipping passage a no-go zone with Suez Canal traffic plunging - despite months-long campaign of
1 day, 7 hours ago
Yemen’s Houthis and US launch new attacks amid Red Sea shipping threat
Trending News
1 day, 18 hours ago
Mapping US attacks on Yemen’s Houthis
2 days, 18 hours ago
Yemen’s Houthis to resume shipping attacks over Gaza aid cutoff
6 days, 18 hours ago
Somali pirates use the Red Sea Crisis and war in Gaza to stage their return
3 weeks, 3 days ago
Yemen’s Houthis emerge from Gaza war emboldened, and with more enemies
1 month ago
Shippers wary of Red Sea routes despite Houthi pledge to end targeting
1 month, 2 weeks ago
Yemen’s Houthi rebels release crew of commercial vessel seized in Red Sea in November 2023
1 month, 3 weeks ago
Yemen’s Houthi rebels release crew of commercial vessel seized in Red Sea in November 2023
1 month, 3 weeks ago
Yemen’s Houthis free crew of Red Sea cargo ship after 14 months in captivity
1 month, 3 weeks ago
Yemen’s Houthis signal they’ll now limit their attacks in the Red Sea corridor to Israeli ships
1 month, 3 weeks ago
Yemen’s Houthis to only target Israel-linked ships following Gaza ceasefire
1 month, 3 weeks ago
Inside the Houthis’ moneymaking machine
2 months ago
Tanker hit by Houthi rebels that threatened a Red Sea oil spill has been salvaged
2 months, 1 week ago
Tanker hit by Yemen rebels that threatened Red Sea spill has been salvaged
2 months, 1 week ago
Israel’s Red Sea conundrum: Hit the Houthis or Iran
2 months, 1 week ago
Chinese fishing vessel under control of alleged pirates off Somali coast, EU naval force says
3 months, 1 week ago
An attack by Yemen's Houthi rebels sees explosions near ship in Red Sea
4 months ago
Putin's Russia is helping Iran-backed Houthi rebels target British ships in Red Sea drone strikes by passing over crucial satellite data
4 months, 2 weeks ago
Prepare for attacks, best regards, says Houthi militia’s email to Red Sea ships
5 months, 2 weeks ago
Suspected Yemen Houthi rebel attack targets ship in Red Sea
5 months, 2 weeks ago
Salvagers launch new attempt to tow an oil tanker blown up by Yemen’s Houthi rebels
6 months ago
Salvagers launch new attempt to tow an oil tanker blown up by Yemen's Houthi rebels
6 months ago
China’s Covert Support To The Houthis: A Strategic Gamble In The Red Sea
6 months, 1 week ago
Salvagers abandon effort to tow burning oil tanker in Red Sea targeted by Yemen’s Houthi rebels
6 months, 2 weeks ago
Salvagers abandoned effort to tow burning oil tanker in Red Sea targeted by Yemen's Houthi rebels
6 months, 2 weeks ago
Salvagers abandon effort to tow burning oil tanker in the Red Sea targeted by Yemen’s Houthi rebels
6 months, 2 weeks ago
Yemen's Houthi rebels target oil tanker in the Red Sea
6 months, 2 weeks ago
Crippled oil tanker in Red Sea raises fears of environmental catastrophe
6 months, 2 weeks ago
Houthi video shows the Yemeni rebels planted bombs on tanker now threatening Red Sea oil spill
6 months, 2 weeks ago
Yemen's Houthi rebel video shows they planted bombs on tanker now threatening Red Sea oil spill
6 months, 2 weeks ago
Iran claims Yemen’s Houthi rebels will allow rescuers to salvage oil tanker ablaze in Red Sea
6 months, 2 weeks ago
Greek-flagged tanker is burning after Houthi attacks, but no sign of oil spill
6 months, 2 weeks ago
Houthi rebels release footage of Red Sea oil tanker explosion amid fears of ‘disastrous’ impact on marine life
6 months, 3 weeks ago
Houthi attack on tanker carrying 150,000 tonnes of oil poses environmental risk to Red Sea
6 months, 3 weeks ago
Ship attacked in Red Sea in latest maritime assault carried out by Yemen’s Houthi rebels
8 months, 2 weeks ago
Red Sea Attack: Merchant ship damaged in Houthi zone off Yemen
8 months, 3 weeks ago
Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks
8 months, 3 weeks ago
Houthi attacks in the Red Sea: Ship attacked by Iran-backed rebels believed to have sunk
8 months, 3 weeks ago
Welcome to the new era of global sea power
9 months, 2 weeks ago
Yemen’s Houthi rebels launch a missile that strikes an oil tanker in the Red Sea, US military says
10 months ago
Watch Houthi Reaction To USA's Offer Of Economic 'Incentives' To Stop Red Sea Ship Attacks | Gaza
10 months, 2 weeks ago
Yemen's Houthis say their missile hit India-bound Andromeda Star oil ship in Red Sea
10 months, 2 weeks ago
Vessel struck in Red Sea as Houthis promise attacks on more shipping lanes
1 year ago
UN envoy warns Gaza war and Red Sea attacks by Houthi rebels risk propelling Yemen back into war
1 year ago
Red Sea crisis: Yemen's Houthis target 'US ship Pinocchio' with missiles
1 year ago
The US should stop creating a lose-lose calamity in the Red Sea
1 year ago
Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
1 year ago
Houthi missile attack kills three sailors in militant group's first fatal strike on Red Sea shipping
1 year ago

Discover Related