Impact of Red Sea crisis on food and oil prices

Several dozen container vessels are expected to travel via the Suez Canal and the Red Sea in the coming days and weeks.Some global shipping firms have announced a return to the route. Last week, over a hundred ships were re-routed around southern Africa to avoid the Suez Canal. This was the biggest sign of the disruption to global trade caused by Houthi rebels attacking vessels on the western coast of Yemen. What impact, if any, will this have on food and oil prices going into the new year? Chris Hattingh, from the Centre For Risk Analysis, discussed this with eNCA. Watch the full interview: https://www.enca.com/videos/suez-canal-crisis-impact-red-sea-crisis-food-and-oil-prices