Oil prices jumped by 4% after the US and UK launched strikes in Yemen over recent attacks by Houthi rebels on ships in the Red Sea. While the price rose, it is below highs reached when Russia invaded Ukraine. On Friday, Brent Crude – the international benchmark for oil prices for much of the world – hit $80.71 per barrel before easing, while US West Texas crude increased by 2.79% to $74.03. Higher energy prices risk stoking inflation just as it has begun to slow. Meanwhile, the cost of shipping containers on vessels has jumped, meaning that companies could choose to pass on this expense to consumers. Do you think that war is good for producers not consumers ?
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