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The oil market is bracing for long-term disruptions in the southern Red Sea due to attacks by Houthi militants. Charters of tankers reveal that more vessels are being hired for routes that avoid the danger zone. Airstrikes in Yemen by the US and UK have increased chaos in the area. Tankers are now being hired to sail to Asia instead of Europe, leading to a surge in earnings. Additionally, there has been a significant volume of Iraqi crude cargoes booked to sail from the Persian Gulf to Europe around Africa. ....
Weeks of attacks by Iranian-backed Houthi militants in the Red Sea have disrupted shipping in the Suez Canal, which carries 12% of global container traffic. Prolonged disruption poses a new risk to the European economy, potentially derailing plans by central banks to cut interest rates. ....
From China s economic growth missing analysts expectations, Saudi Aramco boosting its Ventures unit, Apple dethroning Samsung to Airbus Ascendancy, Sandberg leaving Meta board and YouTube s job cuts, here s a look at recent business developments around the world. ....
Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers an escalation of Israel s more than three-month-old war with Palestinian Hamas militants in Gaza. ....
Tankers continue to sail, but the number is diminishing as risk of assaults comes at a cost Most tankers are continuing their journeys, but this doesn&rsq ....