Prolonged Houthi attacks on ships risk devastating effects on the global economy, according to OilPrice Higher freight costs and delays in cargo deliveries amid the Red Sea crisis could drive up global inflation, according to an OilPrice report this week, citing analysts. The disruptions to global trade caused by continued Houthi attacks on vessels in the Red Sea have sent shockwaves through global supply chains. Analysts say the repercussions for traffic on the key trade route could continue for months, and ultimately result in a shortage of container ships, which are now using longer routes around the Cape of G
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