Red Sea, more trade problems: Qatar stops gas shipments

Qatar has temporarily stopped sending liquefied natural gas tankers through the Bab al-Mandab Strait. The measure was adopted after US-led airstrikes against Houthi targets in Yemen, which increased the risks for shipping transit in the Red Sea region. According to ship tracking data published by broadcaster “al Arabiya”, at least five Qatari-operated LNG ships heading to the southernmost Red Sea corridor have been stopped since last Friday.

Military operations in the Red Sea are fueling global concern about the return of commodity price inflation. The arrest involves around three oil tankers belonging to Qatar that are located off the coast of Oman, one in the Red Sea and the other in the Mediterranean Sea, near the Suez Canal. The Houthis have not attacked any gas-carrying ships since the crisis began in mid-November, but Qatar’s reluctance to cross the corridor highlights the sharp increase in risks. And the commercial consequences for the entire planet could be disastrous.

Source: IL Tempo