How Is the Red Sea Conflict Affecting the Oil Industry?

The Red Sea is one of the most important shipping routes in the world, connecting Asia, Europe and Africa. It is also a key corridor for the oil industry, carrying about 12% of the global seaborne oil trade and 8% of the liquefied natural gas (LNG) trade. However, the Red Sea has become a hotspot of conflict and insecurity in recent months, as Yemen's Houthi rebels have escalated their attacks on commercial vessels in the area.Understanding the Houthis and Their MotivationsThe Houthis are a Shia rebel group ...