Shipping giants can withstand Red Sea crisis 30 Jan 2024 Houthi attacks near the Suez Canal are slowing global trade. In this Exchange podcast, Zvi Schreiber, CEO of shipping platform Freightos, discusses how the sector was caught by surprise, but excess container ships and more air cargo capacity are helping limit the immediate pain.
Red Sea oil tension may revive Russia-Saudi spat 22 Jan 2024 Exchanges of fire between Yemen’s Houthis and the US military have hiked costs for Moscow to ship oil via the Suez Canal to China and India. One upshot could be Russia loses market share to Saudi Arabia. That may reopen the sort of tensions that led to the duo’s 2020 price war.
Prolonged Red Sea attacks can hurt global economy 11 Jan 2024 Freight costs are soaring as militants target ships on a crucial trade route. In this Viewsroom podcast, Breakingviews columnists debate how inflation could rise and which companies could suffer if the tensions aren’t resolved soon.
New Red Sea blockage may be both longer and milder 19 Dec 2023 Militant attacks have forced groups from Maersk to BP to avoid the conduit for over 10% of world trade. Re-routing round Africa will hike fuel costs and could last six months. Yet weaker global demand relative to a six-day 2021 stoppage may limit the wider economic fallout.
Saudi can’t have cheap oil and a war in Yemen 12 Oct 2016 The kingdom's fight against Houthi militants in Yemen is a burden on finances strained by cheap crude. Persisting with its expensive military adventure may require Riyadh to let oil prices rise further. Otherwise real-world battles may spill over into the economic kind.
Saudi’s sweet debt deal could rebound on banks 21 Apr 2016 The kingdom is close to its first international debt deal in 25 years to plug a hole in its finances caused by weak oil prices. Vast oil reserves make Saudi debt enticing, but the price slump is changing the game in several ways. And Middle East states have defaulted before.
Yemen fighting could lead to lower oil prices 27 Mar 2015 It’s easy to see danger in the Saudi-led bombing of the strategically located country. But it might end in a standoff in which neither Iran nor Saudi Arabia dominate the Middle East. That could lead to an uneasy truce, much higher Iranian production, and cheaper crude.