Multinational Naval Task Force Established to Counter Houthi Attacks in Red Sea

Major shipping lines suspend Red Sea services, causing disruptions to global supply chain and increasing freight costs.

The Pentagon has announced the establishment of a multinational naval task force, 'Operation Prosperity Guardian', to protect commercial ships from Houthi missile and drone attacks in the Red Sea and Gulf of Aden.
Major shipping lines and oil transporters, including BP, have suspended their services through the Red Sea due to the attacks, causing disruptions to the global supply chain.
The rerouting of ships to avoid the Red Sea is adding significant costs and delays to global trade, with freight costs already rising.
The attacks have increased concern that the Israel-Hamas war could spur a wider conflict in the Middle East.
The U.S. recently imposed new sanctions on those financially supporting the Houthis, blaming Iran for providing key weapons to the group.