How Yemeni Houthi rebel attacks on ships in the Red Sea are crimping global trade

The attacks on commercial ships in the Red Sea by Yemen’s Iran-backed Houthi rebels have rerouted trade away from a crucial maritime artery for consumer goods and energy supplies. That's expected to mean delays and rising costs. Oil, natural gas, grain and everything from toys to electronics typically travel through the waterway separating Africa and the Arabian Peninsula, heading to the Suez Canal, where 12% of the world’s trade passes. Some of the world's largest container shipping companies and oil giant BP have been sending vessels on longer journeys that bypass the Red Sea. Early on Friday and after weeks of warnings, U.S. and British warships launched waves of air, ship and submarine-launched missiles at Houthi positions in Yemen.