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Houthi rebels attacks in Red Sea create uncertainty for oil, consumer goods prices

A BP logo is seen at a petrol station in London. (Frank Augstein/AP)
A BP logo is seen at a petrol station in London. (Frank Augstein/AP)

The U.S. and at least 10 other nations have created a force to safeguard ships passing through the Red Sea as Iran-backed Houthi rebels escalate attacks on vessels in one of the world’s most important shipping routes for oil, liquefied natural gas and consumer goods.

On Monday, oil giant BP joined Maersk and Evergreen in suspending Red Sea navigation to protect ships, cargo and personnel. So how will that impact oil prices? And what about consumer goods traveling through the region en route from Asia to Europe, the Middle East and North Africa?

Host Scott Tong talks to Here & Now business analyst Roben Farzad, host of public radio’s “Full Disclosure.”

This article was originally published on WBUR.org.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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