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"Red Sea Turmoil Escalates as Shipping Costs Surge Amid Persistent Attacks"

Yemeni Houthi rebels' attacks on merchant ships in the Red Sea have led to a significant disruption in world trade, with shipping costs soaring by 170% as major lines reroute around South Africa to avoid the Gulf of Aden. This shift has caused freight rates to nearly triple and has resulted in a 25% reduction in commercial traffic through the Suez Canal, impacting global economic stability and threatening further inflationary pressures. Despite the challenges, experts believe the inflationary impact will be limited if the disruption is short-lived.

2 years ago•Source: EL PAÍS USA

"Iranian Warship Deployment Escalates Red Sea Tensions Following U.S. Action Against Houthis"

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1.5 min•2 years ago

"Iranian Warship Deployment Escalates Red Sea Tensions Following U.S. Action Against Houthis"

Oil prices have increased as tensions rise in the Red Sea following the entry of an Iranian warship and the U.S. destruction of Houthi boats. The region's instability, particularly Houthi attacks on vessels and the war in Gaza, has disrupted major shipping routes, leading companies to reroute and face higher costs. Despite these challenges, the U.S.-led Operation Prosperity Guardian has improved maritime security, encouraging companies like Maersk to resume operations in the area. However, analysts suggest that unless there is a significant escalation, the impact on oil prices may remain limited.

via CNBC

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"Red Sea Turmoil Escalates as Shipping Costs Surge Amid Persistent Attacks"

"Iranian Warship Deployment Escalates Red Sea Tensions Following U.S. Action Against Houthis"

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