Crude oil prices rise after US, UK attack Houthis ...Middle East

London: Crude oil prices were up more than 2.5 per cent on Friday after the US and the UK launched joint strikes on Houthi targets in Yemen, media reports said. So far this year, Brent crude, the global oil benchmark, has risen 3.1 per cent. The global economy has been served a series of painful reminders of the importance of disruption in the Red Sea, through which 12 per cent of global trade flows, including 30 per cent of global container traffic, CNN reported, The Houthis attack is forcing ships to take a far longer route around Africa and can cause insurance costs to rocket. Companies can pass on the increased cost of moving their goods to consumers, raising prices again at a time when

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Last updated : 12 January 2024 clock 05:52 PM

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Crude oil prices rise after US, UK attack Houthis ...Middle East

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