Red Sea Unrest Threatens Global Trade Arteries: Attacks, Security, and Market Impact
Houthis' Red Sea Attacks Threaten Global Trade: Attacks on commercial ships by Yemen's Houthis in the Red Sea raise concerns about disrupting international commerce, similar to the Covid pandemic.
Suez Canal Impacted: 12% of global trade and significant oil and gas shipments flow through the Suez Canal, accessible only via the Red Sea.
International Response: A US-led multinational operation "Operation Prosperity Guardian" patrols the Red Sea to safeguard commerce. Over 20 countries have signed on.
Market Impact: Oil freight prices increased, but long-term disruption depends on attack duration. LNG trade expected to be largely unaffected.
