Brief by Shorts91 Newsdesk / 09:07pm on 03 Jan 2024,Wednesday International
Renewed economic turmoil looms in Britain after escalating Middle East conflicts disrupted vital shipping lanes, economists warn. Last night's Israeli drone strike on Hamas leaders in Beirut provoked missile attacks towards commercial vessels in the Red Sea by Yemen's Houthi rebels. The UK Maritime Trade Operations reported three explosions in the narrow 30km-wide Bab al-Mandeb strait. A Malta-flagged container ship confirmed explosions fired from Yemen's coast. Several shipping firms are still avoiding the Red Sea, adding thousands of miles and over a week to journeys around Africa's Cape of Good Hope. The British Retail Consortium cautioned shipping disruption could impact prices and availability of goods in the UK.
