First FT: the day’s biggest stories
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If oil manages to make it through the strait, there’s another issue: Following the strikes on Iran, the Yemen-based Houthi military threatened to launch attacks on ships passing through the Red Sea. The Red Sea is a vital trading route between the East and West, sitting between the continents of Africa and Asia. It funnels into the Suez Canal, which leads to the Mediterranean Sea, meaning if ships cannot pass through the Red Sea in the south, where it borders Yemen, boats would instead have to divert around the African continent.