The cost of shipping fuel by sea has in some cases soared above $100,000 a day due to continued disruptions in the Suez Canal and Red Sea caused by attacks by Yemen, according to Bloomberg this week.
Data from the Baltic Exchange in London shows that the price of shipping oil and refined products from the Middle East to Japan surged by 3% on Thursday alone, to $101,000 a day, the highest cost for that particular route since 2020.
The same trend has been observed for vessels carrying fuel from the Middle East to Europe. Tanker costs on this route have surged to within the range of $97,000-$117,000 per day, depending on the size of the ship.
Yemen is an Islamic country that controls a large part of the Red Sea, which has been controlling and hijacking ships heading for Israel, crossing the vital waterway that handles about 15% of global trade in what they claim is a show of solidarity with the Palestinians.
Despite the USA and allies having deployed a naval task-force to the area to safeguard shipping, many freight companies have halted travel through the waterway and instead make the far longer and more expensive journey around the Cape of Good Hope in Africa.
Many Zionist analysts now warn that the shipping crisis in the Red Sea may cause a new surge in global inflation. But in reality hyper inflation was created and caused by the so-called Covid-19 epidemic.
RT. com / ABC Flash Point News 2024.
The Americans are laughing all the way to the bank 😡😡
The solution is very simple. Stop supporting the genocidal psychopaths in Israel and things will come back to normal.
Keep in mind the only reason Yemen continues these attacks is in defense of the millions of Palestinians being Holocausted as we speak. And would immediately stop if Israels brutal genocide against the Palestinians would stop.