Oil prices surge: Red sea crisis hits global businesses | World Business Watch

The Red Sea crisis has unleashed a cascade of disruptions in global shipping. Container rates have skyrocketed for routes from India to the US and doubled or even tripled for certain European regions. Now, oil prices have surged as the US and its allies launched airstrikes against Houthi rebels in Yemen.

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Now the Red Sea crisis has Unleashed a Cascade of disruptions in global shipping container rates have skyrocketed for routs from India to the US and doubled or even tripled for certain European regions now oil prices have surged as the US and its allies launched air strikes against houthi

Rebels in Yemen and this was a retaliation for houthi attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital Waterway the global Benchmark bent crude Rose to $80 per barrel for the first time this year before falling to $78 per

Barrel a tanker Industry Group said that military forces in the region were advising ships to avoid a key checkpoint in near Yemen and a major Danish fuel tanker firm announced that it will no longer permit its Fleet to pass via the southern Red Sea now this indicates the

Interruption caused by the attacks on Yemen overnight might worsen the situation that’s already plaguing the oil markets now next week Volvo will seize operations at its facility in Belgium due to supply chain disruptions from the Red Sea SN and this comes after Tesla announced a shutdown of its

Gigafactory operations near Berlin for 2 weeks China’s largest shipping carrier Costco has suspended trips through the region and MK a shipping giant is diverting all vessels around the Cape of Good Hope for the foreseeable future other companies including G and Ikea have warned of delays in deliveries and shipping costs have surged dramatically

With container rates experiencing a staggering 30 to 400% increase and this impacts consumer goods industries from rice exports to clothing to oil the global economic impact looks to be profound as a result of increased fuel costs transit times and a challenging business environment and with delays

Adding around 12 to 14 days to sailing schedules the Ripple effects are expected to imp production and demand and Trigger potential inflation Spikes