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Dec 19, 2023

Red Sea strikes ignite oil price fears

Analysts are warning oil prices will rise, as companies stop transporting fuel and goods in the Red Sea due to attacks on commercial ships. The disruption to the route is a big deal with 30% of global container trade passing through the Suez Canal. The European Union and the US are taking another break from their trade war – they’ve agreed to temporarily stop imposing extra taxes on EU-made steel and aluminium, as well as various US-made products. For the first time, the Netherlands is growing cannabis legally as part of a small experiment that could eventually be rolled out across the nation, and possibly beyond.

Red Sea strikes ignite oil price fears
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