Red Sea: Why is it important to trade and could crisis increase prices?

Business | Business News The UK and US have launched “targeted strikes” against Houthi rebels in Yemen after weeks of attacks on international shipping in the Red Sea . Prime Minister Rishi Sunak said the UK will “always stand up for freedom of navigation and the free flow of trade” after conducting the strikes overnight. Here, the PA news agency looks at why the region is a key trade route and what the knock-on effects of continued disruption could be: – What is happening in the Red Sea? Since late November, Iran-backed Houthi rebels in Yemen have attacked container ships going through the Red Sea. The attacks began in response to…