The United States and Britain launched strikes from the air and sea against Houthi military targets in Yemen in response to the movement's attacks on ships in the Red Sea, a dramatic escalation of the Israel-Hamas war in Gaza. Oil climbed and stock markets tensed on the news. Whilst the attacks have already seen disruptions and diversions of shipping and that has already caused quite a sharp jump in shipping freight rates just in the last few weeks, if this strike is able to…resolve the issue and shipping lanes can be secured again and things normalise, then that'll be positive as we'll see a normalisation of freight rates.
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