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The SEALs found cruise and ballistic missile components, including propulsion and guidance devices, as well as warheads, Central Command said. Iran has an anti-ship missile called the Ghadir. The U.S. Navy ultimately sank the ship carrying the weapons after deeming it unsafe, Central Command said. However, Iran's Supreme Leader Ayatollah Ali Khamenei praised the Houthis' attacks. Since November, the Houthis have repeatedly targeted ships in the Red Sea, saying they were avenging Israel’s offensive in Gaza against Hamas.
Persons: Houthis, Jake Sullivan, Yahya Saree, Zografia, Yemen’s, USS Lewis B, Puller, Fabian Hinz, Hinz, Ayatollah Ali Khamenei, Elena Becatoros, Tara Copp, Aamer, Baldor Organizations: JERUSALEM, U.S, Greek Shipping, Ministry, U.S . Central Command, U.S . Navy, House, SEAL, USS, U.S . military's, Command, Central Command, International Institute for Strategic Studies, United Nations, Iran's, United, Associated Press Locations: U.S, Yemen, Malta, Red, Suez, Iran, Iraq, Syria, Lebanon, Israel, Egypt, Iranian, Gulf of Aden, Gaza, United Nations, Tehran, Gibraltar, Gulf, Aden, Athens, Greece, Washington
European markets are expected to open higher Monday as investors in the region gear up for the World Economic Forum in Davos, Switzerland. Titled "Rebuilding Trust," this year's forum runs from Jan. 14-19. Global business and political leaders will meet in the Swiss ski resort to discuss economic and geopolitical matters. This year, global trade, inflation, supply chains, technological change and wars in the Middle East and Ukraine are expected to top the agenda. Perhaps the most heavyweight political figures set to be in attendance are China's second-in-command Li Qiang and French President Emmanuel Macron, who will both give special addresses.
Persons: Li Qiang, Emmanuel Macron Organizations: World Economic, Global Locations: Davos, Switzerland, Jan, Swiss, East, Ukraine
ABB CEO: We need to make a business out of green transition
  + stars: | 2024-01-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailABB CEO: We need to make a business out of green transitionABB CEO Peter Voser discusses challenges to the green energy transition, steps world leaders in politics and business can take to enhance sustainability efforts, how attacks in the Red Sea may affect global trade, and the prospects for artificial intelligence and robotics as 2024 gets under way. In the interview, with CNBC's Karen Tso and Amanda Drury, Voser said it's important not to "flip flop" over these issues, and agree on concrete plans to move forward at a global level. 09:30 9 minutes ago
Persons: Peter Voser, Karen Tso, Amanda Drury, Voser Organizations: ABB
That was apparent Monday, when a Houthi missile hit a US-owned cargo ship in the Red Sea, marking what appears to be the first time the militants have successfully struck a US-owned or operated ship. Senior Biden administration officials insist Friday’s operation against the Houthis was successful at its objective: degrading the group’s military capabilities. Houthi fighters and tribesmen stage a rally against the U.S. and the U.K. strikes on Houthi-run military sites near Sanaa, Yemen, on Sunday, Jan. 14, 2024. US officials fear one side will miscalculate, even if none of the major parties – Iran, Israel and the United States – want a wider war. The Suez Canal accounts for 10% to 15% of world trade, which includes oil exports, and for 30% of global container shipping volumes.
Persons: Biden, Israel simmers, John Kirby, Douglas Sims, , Mick Mulroy, Trump, Joe Biden, Organizations: CNN, US, Houthis, Biden, National Security, Pentagon, Joint Staff, New York Times, U.S, AP, United, Analysts, ABC News Locations: Yemen, Red, Sea, Gulf of Aden, Israel, Washington, Iran, Gaza, Africa, Suez, Red Sea, Gen, Sanaa, United States, Aden
The Biden administration has begun pumping more than $2 trillion into U.S. factories and infrastructure, investing huge sums to try to strengthen American industry and fight climate change. But the effort is facing a familiar threat: a surge of low-priced products from China. That is drawing the attention of President Biden and his aides, who are considering new protectionist measures to make sure American industry can compete against Beijing. As U.S. factories spin up to produce electric vehicles, semiconductors and solar panels, China is flooding the market with similar goods, often at significantly lower prices than American competitors. American executives and officials argue that China’s actions violate global trade rules.
Persons: Biden Organizations: Beijing Locations: China, U.S, America, Europe
The CEOs' expectation of economic decline has dropped to 45% from a record-high 73% last year, and fewer saw their company as highly exposed to the risk of geopolitical conflict, according to the PwC Global CEO Survey. Political Cartoons View All 253 ImagesThe executives, meanwhile, felt worse about the prospects for their companies' ability to weather big changes. Similar to AI, the PwC survey shows that the climate transition is both an opportunity and a risk. An increasing number of CEOs — nearly a third — say climate change was expected to shift how they do things over the next three years. The PwC survey of 4,702 CEOs in 105 countries and territories was conducted from Oct. 2 to Nov. 10.
Persons: Yemen’s Houthi, ” Bob Moritz, ” PwC, Edelman, Richard Edelman, , ___ Masha Macpherson, David Keyton Organizations: , PwC, PwC Global, Survey, Bank, PricewaterhouseCoopers, Associated Press Locations: Davos, Switzerland, Ukraine, Red
Iranian-backed Houthi militants in Yemen have launched a fresh round of attacks in shipping lanes critical for global trade, damaging a U.S.-owned commercial ship on Monday after attempting to hit an American warship the day before. The strikes came just days after the U.S. and British militaries unleashed a powerful barrage on militant sites in Yemen, and the Houthi response made clear how difficult it might prove to remove the threat posed to shipping in and around the Red Sea. U.S. forces are bracing for a much larger retaliatory attacks from the Houthis, who began targeting ships after the war in the Gaza Strip began and are preparing escalating responses, senior U.S. military officials said. After the United States and Britain hit more than 60 Houthi targets last week with more than 150 precision-guided munitions, U.S. officials said the militants still retained about three-quarters of their ability to fire missiles and drones at ships transiting the Red Sea. Many of their weapons systems are on mobile platforms and can be readily moved or hidden, the officials said.
Organizations: U.S Locations: Yemen, U.S, American, Sea . U.S, Gaza, United States, Britain
A U.S.-owned and operated container ship on Monday was struck by an anti-ship ballistic missile from Houthi-controlled areas of Yemen, according to the U.S. Central Command. The United Kingdom Maritime Trade Operations organization said authorities were investigating the incident, which occurred southeast of Aden in Yemen. It comes shortly after the U.S. and U.K. launched joint strikes against Houthi targets in Yemen. The Iran-backed group has been attacking ships traversing the Red Sea since late last year, wreaking havoc on global trade and drawing international condemnation. The militants claim their attacks in the Red Sea are in response to the ongoing war in the Gaza Strip.
Persons: Yemen's Houthi, Marshall, UKMTO Organizations: U.S . Central Command, United Kingdom Maritime Trade Operations Locations: Israel, Sana'a, Yemen, U.S, Gibraltar, Aden, Iran, Gaza
Why China hates the new president of Taiwan
  + stars: | 2024-01-15 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +5 min
"Lai Ching-te clings stubbornly to the separatist position for 'Taiwan independence.' A matter of Taiwan's independenceIn 2017, while he was premier, Lai referred to himself as a "pragmatic worker for 'Taiwan independence.'" AdvertisementLai has pledged to maintain status quo and stability in Taiwan, but China isn't backing down on its stance either. "I think China hates him, really hates him," Wu Xinbo, an international relations professor at Shanghai's Fudan University, told Reuters, referring to Lai. "It is because if he is elected as the leader of Taiwan, he may come to advance his goal of Taiwan independence, which will provoke a crisis across the Taiwan Strait," added Wu.
Persons: William Lai Ching, Taiwan's, Lai, , Wiliam Lai Ching, Lai Ching, Xi Jinping, Wu Xinbo, Wu, Wang Yi, Jeremy Mark, William Lai, Chong Ja Ian, Chong, Tsai Ing Organizations: Democratic Progressive Party, Service, China's Taiwan Affairs Office, Chinese Communist Party, Shanghai's Fudan University, Reuters, Analysts, Lai's, Atlantic Council, Eurasia Group, KMT, National University of Singapore, Carnegie China, Channel News Asia Locations: China, Beijing, Taiwan, South America, Taiwan Strait, Taiwan's
After 100 days, Israel’s war with Hamas is turning into a protracted conflict with no clear end, threatening to spread across the Middle East, disrupt global trade and bog down the U.S.One of the biggest geopolitical events this century, the war has swung from a Hamas attack on Oct. 7 that Israel says killed 1,200 people to the Israeli military’s ferocious retaliation against the militant group in Gaza.
Persons: Israel Organizations: U.S Locations: Gaza
JERUSALEM (AP) — Houthi rebels fired a missile, striking a U.S.-owned ship Monday just off the coast of Yemen in the Gulf of Aden, less than a day after they launched an anti-ship cruise missile toward an American destroyer in the Red Sea. The attack on the Gibraltar Eagle, later claimed by the Houthis, further escalates tensions gripping the Red Sea after American-led strikes on the rebels. Since November, the rebels have repeatedly targeted ships in the Red Sea, saying they were avenging Israel’s offensive in Gaza against Hamas. “The most dangerous thing is what the Americans did in the Red Sea, (it) will harm the security of all maritime navigation,” Nasrallah said. However, U.S. sailors have received combat ribbons for their actions in the Red Sea — something handed out only to those who face active hostilities with an enemy force.
Persons: — Houthi, Yahya Saree, , , Aden “, Arleigh Burke, Joe Biden, Hassan Nasrallah, ” Nasrallah, Biden, It's, Samy Magdy, Lolita C, Bassem, Danica Kirka Organizations: JERUSALEM, Eagle, Hamas, United Kingdom Maritime Trade Operations, Dryad Global, Associated Press, military's Central Command, Command, Eagle Bulk Shipping, New York Stock Exchange, AP, Eagle Bulk, Central Command, U.S . Maritime Administration, Transportation Department Locations: U.S, Yemen, Gulf, Aden, American, Red, Gaza, Suez, Europe, Eagle Gibraltar, Marshall, Stamford , Connecticut, , America, Sea, Hodeida, Iranian, Israel, East, Qatar, Oman, Saudi Arabia, Iran, Saudi, Cairo, Washington, Bassem Mroue, Beirut, London
War and climate change are the main risks that could threaten aggressive Fed rate cuts, Macquarie said. That's because conflicts in the Middle East and a parched Panama Canal risk creating supply shocks that stoke inflation. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "War and climate change are becoming the main risk to the view that the Fed cuts aggressively," analysts led by Thierry Wizman wrote in a note on Friday. Such turmoil can end up pinching consumers because the Red Sea is a major shipping artery — the Suez Canal, which connects the Red Sea to the Mediterranean Sea, carries about 12% of global trade.
Persons: Macquarie, Thierry Wizman, Wizman Organizations: Service, Federal Reserve, Fed, Drewry, . Shipping, Maersk, CMA CGA, UK, International Monetary Fund Locations: Panama, Red, Africa, Yemen, Suez
Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.
Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit
Wholesale inflation fell by 0.1% in December, capping a year in which the rate of price increases dropped sharply, according to a report from the Labor Department released on Friday. The producer price index for all of 2023 came in at 1% compared to 6.4% in 2022. No indication of inflation at the wholesale level,” Kathy Jones, chief fixed income strategist at the Schwab Center for Financial Research, posted on social media. A lot will depend on how the economy performs this year after putting in a strong performance in 2023. Wages are increasing and now running higher than the level of inflation, giving support to consumer spending.
Persons: ” Kathy Jones, , Jeffrey Roach, ” “, Jared Cohen, Goldman Sachs, Ian Bremmer, Jamie Dimon, JPMorgan Chase, Dimon, ” Dimon Organizations: Labor Department, PPI, Schwab Center, Financial Research, Federal, LPL Financial, BCA Research, Fed, U.S, Global Affairs, Goldman, Eurasia Group, GZERO Media, JPMorgan Locations: Red, Iranian, Asia, U.S, Ukraine
SANA'A, YEMEN - DECEMBER 03: Members of the Houthi-run Military Special Forces guard during a funeral procession of Houthi fighters at Al-Sha'ab Mosque on December 03, 2023 in Sana'a, Yemen. The strikes come after the Houthis defied a warning to stop targeting international maritime vessels in the Red Sea, which has wreaked havoc on global trade. This includes the Bab el-Mandeb Strait, a crucial maritime chokepoint that connects the Red Sea with the Gulf of Aden. The militants claim their attacks in the Red Sea are in response to the ongoing war in the Gaza Strip. A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt.
Persons: Mohammed Hamoud, , Netherlands —, Joe Biden, Allah, Hussein Badr Eddin, Yemenis, Israel, Michael Page, Mohammed Abdulsalam, Sayed Hassan Organizations: Special Forces, Al, Getty, The U.S . Air Force, U.S . Central Command, Gaza, Watch, Human Rights, Hezbollah, Sea Locations: SANA'A, YEMEN, Sha'ab, Sana'a, Yemen, Iranian, Red, The, United Kingdom, Australia, Bahrain, Canada, Netherlands, Islam, Sanaa, Saudi Arabia, Al, Gaza, Israel, East, North Africa, Mandeb, Aden, Iran, U.S, Palestine, Suez, Ismailia, Egypt
Tensions in the Red Sea have been increasing for weeks, culminating in air strikes from the U.S. and its allies on Houthi-controlled areas in Yemen early Friday local time. What Has Been Happening in the Red Sea? As of Thursday, the Houthis have launched 27 attacks on ships in the Red Sea and the Gulf of Aden that they claim were linked to Israel. Reactions to the Air StrikesThe Houthis vowed to keep attacking ships in the Red Sea after the airstrikes. Container shipping company Maersk CEO Vincent Clerc told the Financial Times that re-establishing safe passage through the Red Sea could take months.
Persons: Lloyd Austin, , Joe Biden, Biden, , , Yahya Saree, Nasser Kanaani, Ro Khanna, Chip Roy, Sen, Rick Scott of, Vincent Clerc Organizations: Hamas, U.S, Central Command, Air Force, Houthis, Air, Political, , Democrat, Republican, California, Biden, Terrorists, Trade, Container, Maersk, Financial Times, Kiel Institute Locations: U.S, Yemen, Red Sea, Iran, Israel, Austin, United States, Australia, Bahrain, Canada, Denmark, Germany, Netherlands, New Zealand, Republic of Korea, United Kingdom, Red, Sanaa, Saudi Arabia, Middle, Lebanon, Hamas, Gaza, Aden, Gulf of Aden, Brig, British, Texas, Rick Scott of Florida, Europe, Asia, South Africa
The US and UK carried out strikes against the Houthis in Yemen early Friday. The intense bombardment followed repeated warnings from the West over Houthi attacks on shipping lanes. Here's a video showing airstrikes conducted by Typhoon jets after Britain and the United States conducted air strikes on Houthi targets in Yemen. AdvertisementA Royal Air Force Typhoon fighter jet takes off ahead of the Houthi strikes. A munition is fired from a US Navy warship during the Houthi strikes.
Persons: , readying, Grant Shapps, bR8biMolSx, tbN7ncJYpF, 5hzanSX1dH, Katherine Zimmerman, Lloyd Austin Organizations: US, Service, US Air Forces Central, Central Command, UK Defense, U.S . Central Command, Typhoons, UK Ministry of Defense, Typhoon, Defence, Biden, American, British, Royal Air Force, Ministry of Defense, US Navy, Command, American Enterprise Institute Locations: Yemen, Iran, British, U.S, United Kingdom, Australia, Canada, Netherlands, Bahrain, @grantshapps, Britain, United States, Gulf of Aden, Israel, Australian, Washington
In this article HLAG-DEMAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNTA ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty ImagesU.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. But the Red Sea crisis is now having a significant impact further afield with shipping costs between Asia and the U.S also spiking. Shipping rates from North Asia to the U.S. East Coast have jumped 137% to $5,100 for a 40-foot container from early October, according to S&P Global. JPMorgan told clients on Tuesday that the fight against inflation could stall in the coming months if shipping costs push the price of goods higher.
Persons: Sayed Hassan, John Kirby, Kirby, Biden, Chris Rogers, Mark Hopkins, we're, Hopkins, It's, Balika Sonthalia, Sonthalia Organizations: Getty, P Global Market Intelligence, P, U.S ., U.S . East Coast, U.S . West Coast, JPMorgan, Federal Reserve, . National Security, White, Moody's, CNBC, Kearney, The New, The New York Federal, HSBC Locations: Suez, Ismailia, Egypt, South Africa, Asia, Europe, North Asia, Israel, U.S, U.S . East, U.S . West, The New York, Panama
Russian oil cargoes are still sailing via the Red Sea to get to India, according to S&P Global. Iran-backed Houthi rebels have been attacking commercial ships in the Red Sea since November. Many commercial shipping lines and vessels have rerouted from the Red Sea to avoid getting caught in the attacks. It's not immediately clear why ships carrying Russian oil to India haven't rerouted to avoid potential attacks in the Red Sea. Hardeep Singh Puri, India's petroleum and natural gas minister, said recently that the country is monitoring the situation in the Red Sea.
Persons: , Lloyd, Sumit Ritolia, It's, Alexander Novak, Hardeep Singh Puri Organizations: P Global, Service, Maersk, Hapag, P, Reuters Locations: India, Iran, Red, Asia, Europe, Cape, South Africa, Moscow, Ukraine, Russia
The warning came as Yemen’s Houthis vowed retaliation, further raising the prospect of a wider conflict in a region already beset by Israel's war in Gaza. The U.S.-led bombardment came in response to a recent campaign of drone and missile attacks on commercial ships in the vital Red Sea. Since November, the rebels have repeatedly targeted ships in the Red Sea, saying they were avenging Israel's offensive in Gaza against Hamas. The Houthis’ military spokesman, Brig. Tesla, meanwhile, said it would temporarily halt most production at its German factory because of attacks in the Red Sea.
Persons: Joe Biden, Biden, , Yemen’s Houthis, , " Biden, Lloyd Austin, Donald Trump Lt, Douglas Sims, Yahya Saree, Nikolas, Iran’s, Hussein, George W, Bush, Friday's, Nasser Kanaani, Vassily Nebenzia, Linda Thomas, Ambassador Barbara Woodward, Thomas, Greenfield, ” ___ Gambrell, Ahmed Al, Haj, Bassem, Jill Lawless, Nasser Karimi, Fatima Hussein, Ellen Knickmeyer, Chris Megerian, Seung Min Kim, Edith M, Lederer Organizations: WASHINGTON, Britain, Associated Press, U.S . Central Command, Navy, White, Camp, U.S . Navy, Republicans, Pentagon, Joint Chiefs of Staff, . Air Forces Central Command, Tomahawk, Foreign Ministry, Brent, Food, U.S, U.S ., United Arab Emirates, . Security, Ambassador, United Nations Locations: Yemen, U.S, Sanaa, Iran, Aden, Gaza . U.S, Houthi, Gen, Red, Gaza, Israel, Saudi Arabia, Saudi, United Kingdom, Bani, Abbs, Gulf of Oman, Tehran, Washington, Suez, America, Britain, Houthis, Greenfield, U.K, Dubai, United Arab Emirates, Beirut, London, Emmaus , Pennsylvania
U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders' week in Woodside, California, Nov. 15, 2023. A senior Chinese liaison to Taiwan warned recently that Saturday's election would be a choice between "peace and war." Depending on the outcome, they could also trigger an increase in Chinese military activity in and around the island. Taiwan has reported myriad attempts by the Chinese government to influence the election via disinformation campaigns, cyberattacks and economic coercion. These meetings build on President Joe Biden's November one-on-one with Chinese President Xi Jinping in San Francisco, which aimed to end the bitter freeze that has characterized recent U.S.-China relations.
Persons: Joe Biden, Xi Jinping, Biden, Washington, Lai Ching, Hou Yu, Ko Wen, Jon, Joe Biden's, Xi, Taiwan's Organizations: Economic Cooperation, U.S ., Democratic Progressive Party, U.S, ih, Pentagon, National, White House Locations: Asia, Woodside , California, Taiwan, China, Beijing, U.S, United States, Washington, Taipei, San Francisco
How the Red Sea crisis could clobber the global economy
  + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +9 min
The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.
Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, , ” It’s, Abercrombie &, Nathan Howard, , ” Philip Damas, , Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, , China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey
According to the officials, U.S. Central Command provided Pentagon leaders with options for an additional military response after the incident, and the Pentagon sent those options to senior White House officials. Biden was updated multiple times on the situation in the Red Sea while on vacation. An administration official denied that there have been disagreements between White House and U.S. military officials about responding to the Houthis. On Tuesday, Houthi rebels fired two anti-ship ballistic missiles into the southern Red Sea, the 24th attack against ships in the area since Nov. 19. The USS Laboon and U.S. Navy F/A-18 Super Hornets shot down the drones and missiles, and no ships were damaged.
Persons: Joe Biden, Houthi, Jon, Biden, CENTCOM, Al Jasrah, Carney Organizations: Galaxy, WASHINGTON, White, U.S ., U.S . Navy, U.S . Central Command, Pentagon, White House, . U.S . Navy, U.S, Iran, Maersk, Hornets Locations: Iran, Yemen, Red, U.S, St . Croix, White House, ., Gulf of Aden, Gaza
There are several key flashpoints where the Israel-Hamas war could escalate into a regional conflict that has a material impact on oil, according to the firm. Those flashpoints are the Red Sea, Lebanon and Iraq, analyst Helima Croft wrote in a note to clients this week. Crude prices fell Tuesday despite renewed attacks by Houthi militants in the Red Sea over the weekend. Maersk stopped shipping through the Red Sea again and is rerouting vessels around the Cape of Good Hope in South Africa. Some 12% of global trade and about 3 million barrels of crude oil pass through the Red Sea per day, according to RBC Capital Markets.
Persons: Helima Croft, Croft, Adi Imsirovic, Imsirovic, Steven Schoenfeld, Schoenfeld, Goldman Sachs, Tehran's Houthi, Donald Trump ratcheted, Biden, Benny Gantz, Israel, Saleh al, Joe Biden, Trump, Qasem Soleimani Organizations: RBC Capital Markets, Maersk, West Texas Intermediate, CNBC, Tuesday, Traders, Investors, Center for Strategic, International Studies, U.S, Prosperity, U.S . Navy, U.S . Central Command, JPMorgan, Israel Defense Forces, Three U.S, Washington Locations: Israel, Sea, Lebanon, Iraq, Red, Danish, Libya, Russia, Ukraine, Iran, U.S, Yemen, The U.S, Mandeb, Aden, Britain, Hangzhou, South Africa, Suez, Asia, Europe, Hormuz, Islamic Republic, Tehran, Beirut, Croft, Erbil, Three
A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.
Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S
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