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A Cargo Ship surrounded by Houthi boats in the Red Sea
The Galaxy Leader cargo ship being escorted by Houthi boats in the Red Sea on November 20, 2023.

Houthi Military Media/Handout

  • Yemen's Iran-linked Houthi rebels are attacking ships in the Red Sea.
  • MSC, Maersk, and oil giant BP have responded by rerouting vessels away from the Suez Canal.
  • The chaos has reignited fears about higher oil prices and could drive up inflation, according to analysts.

Attacks on vessels by rebels linked to Iran in the Red Sea have forced big-name shipping and oil giants to reroute their vessels away from the Suez Canal, the crucial and busy shipping lane that connects the strip of water to the Mediterranean.

Analysts are warning the disruption could drive up crude prices, delay deliveries, and trigger a flare-up in inflation.

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economy, Markets, economy, Markets, Commodities, red-sea, suez-canal, Yemen, Shipping, Maersk, MSC, BP, Oil, crude-oil, Inflation, Trade, stock-market-analysis, stock-market-outlook, stock-market-strategy, investing-analysis, investing-outlook, investing-strategy
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The wild attacks on ships in the Red Sea are another geopolitical shock that co…