There are growing fears that an extended period of disruption to supplies of imported goods will raise costs for customers in the weeks and months ahead.
Shell has refused to comment on a report that it has suspended shipments through the Red Sea amid attacks on freight by Iran-linked Houthi rebels.
The oil and gas major was said, by the Wall Street Journal (WSJ), to have taken the decision last week to avoid the short route to Europe via the Suez Canal indefinitely.
The paper, citing a number of sources, said there was concern within the company that US and UK strikes on Houthi targets in Yemen could be met with further escalation, placing crews and vessels at a greater risk.
Putin and Trump are dancing with joy.
Oh yeah. Trump actively wants the economy to fail so he can use it to his advantage. This is doing wonders for him. Fuck Iran
How about fuck israel and their genocide and fuck the US for not forcing a ceasefire. The houthis have stated they are hitting ships because of the ongoing genocide in palestine.
Such a dumb thing to say. You don’t negotiate with terrorists because then they know terror works. Only outcome from that is increase in the amount of terror actions and increase in demands.
How ignorant. The Houthis are following orders from Iran, which all of this resulted when Hamas also followed orders from Iran to attempt a genocide, except they’re extremely weak compared to the IDF. I’m not supporting the IDF and I think Israel is fucking this whole thing up under Netanyahu, who is a horrible person, but let’s not forget what started this operation
We could have had so many peace deals, but the Palestinians turned many down. And Hamas doesn’t want peace. They want to destroy Israel.
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Fun, everything will soon be more expensive
This is the best summary I could come up with:
Shell has refused to comment on a report that it has suspended shipments through the Red Sea amid attacks on freight by Iran-linked Houthi rebels.
The oil and gas major was said, by the Wall Street Journal (WSJ), to have taken the decision last week to avoid the short route to Europe via the Suez Canal indefinitely.
The paper, citing a number of sources, said there was concern within the company that US and UK strikes on Houthi targets in Yemen could be met with further escalation, placing crews and vessels at a greater risk.
Around 12% of global trade passes through the Red Sea and there are growing fears that an extended period of disruption is a threat to easing inflation - in Europe in particular.
The consequences of the additional costs are yet to be felt by consumers but they are, according to industry figures, set to be passed on down the supply chain in the coming weeks and months.
The chief financial officer of ports and freight operator DP World, Yuvraj Narayan, told Reuters the disruption would hit European consumers hardest.
The original article contains 466 words, the summary contains 184 words. Saved 61%. I’m a bot and I’m open source!
