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Source: https://www.ynetnews.com/business/article/sywanu1va
Threating the Oil Market Was a Step Too Far by the Houthis
(Ynet News) Doron Paskin - The global shipping crisis intensifies due to repeated attacks by the Houthi rebels from Yemen on vessels in and near the Bab el-Mandeb strait. These attacks, backed by Iran, are prompting major international shipping companies to announce a halt to navigation in the Red Sea. The majority of oil and natural gas exports from Gulf countries to Europe pass through the Red Sea and the Suez Canal. It is reasonable to expect that oil shipping prices will rise as a result of the Houthi attacks. Countries such as China and India, with close ties to Iran, are sensitive to high oil prices and may be compelled to intervene and exert their influence to bring about stability.