The Houthi attacks against commercial vessels in the Red Sea are threatening to disrupt U.S. and global markets with delayed shipping times and increased goods prices, The Washington Post reported.
The Yemen-based Houthis have launched several attacks since Oct. 7 against vessels in the Red Sea as part of retaliation efforts against Israel and its allies. In an effort to avoid the Houthis, commercial vessels are now taking longer routes to reach their destinations, resulting in delays and higher shipping costs, and ultimately increased prices for consumer goods in the U.S. and across the world, according to The Post.
Major shipping companies like COSCO, Maersk and CMA CGM, as well as several fuel tankers, previously utilized major trade routes in the Red Sea that cut through Africa and Asia,........