Houthi attacks in Red Sea push oil prices higher, disrupt trade

The attacks by Yemeni Houthi fighters on ships using the route through the Suez Canal continue. Officially, this is a reaction by the Iran-backed rebels to the situation of Palestinians in Gaza. It aims to pressure Israel to cease fire, which escalated after a terrorist attack carried out by Hamas in October 2023.

As reported on money.pl, fighter attacks on ships have caused trade to bypass the area, opting to take the longer route around Africa, resulting in increased costs. Consequently, oil prices have risen.

Despite the efforts of a Western coalition including, among others, British and American aircraft carriers, the crisis has not been resolved. This is evidenced by the attacks that the Houthis carried out on Monday on two tankers: MT Chios Lion (under the flag of Liberia) and MT Bently (under the flag of Panama).

Americans, quoted by the Egyptian newspaper "Ahram," reported that the attacks on the tankers were carried out by sea and air drones. However, there was no serious damage, and most importantly, no crew members were harmed. Additionally, on the same day, American forces destroyed five flying drones.

"As part of their campaign, the rebels have targeted more than 70 ships. They launched missiles and drones, killing four sailors. Since November, they have seized one ship and sunk two," summarizes "Ahram."

American command, referring to the deaths of, among others, Vietnamese sailors, commented that "the Houthis claim to act on behalf of Palestinians in Gaza, yet their targets are citizens of third countries, who have nothing to do with the conflict in Gaza."

According to coalition data, in June the number of Houthi attacks on merchant ships increased to the highest level since December 2023. The aircraft carrier USS Theodore Roosevelt is approaching the area to replace the USS Dwight D. Eisenhower in the mission of protecting trade.