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MNI Commodity Weekly - Shipping in Focus After Red Sea Attacks

Photo by Angus Gray on Unsplash
red and black ship
  • Red Sea Attacks Bring Shipping into the Spotlight: Attacks on vessels in the Red Sea by Yemen’s Houthi rebels have turned one of the world’s busiest shipping corridors into a flashpoint. A US-led task force has been created to create stability but may carry with it additional risks.
  • Oil Markets: Crude markets maintaining steady gains since mid December as shipping concerns and a weaker US dollar weigh against bearish pressure from strong US supplies and uncertainty over OPEC+ member commitment to voluntary cuts.
  • Gas Markets: European natural gas benchmark paused the latest downward trend after potential LNG supply disruptions due to increased shipping risks in the Red Sea amid ongoing Houthi attacks have supported prices. US natgas prices also rose this week amid wider market support and strong LNG exports. North Asian LNG prices eased back amid high inventory levels in the region and limited spot LNG appetite.
Full piece here:

MNI Commodity Weekly - Shipping in Focus After Red Sea Attacks.pdf

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