Are the shipping attacks by the Houthis in the Red Sea having an impact on prices?

Let’s start with the most important thing. So far, the global shipping system seems to be taking the effective closure of the Red Sea more or less in its stride. While ministries around Europe fret about the impact on oil prices, crude remains lower in cost than it was a few months ago. It may feel like the world is in chaos, but in pure economic terms, the impact of the awful events in the Middle East has been muted. But there’s no doubting there has been an impact. Middle East crisis – latest: Missile ‘fired at ship’ near Yemen…