American forces recently conducted a strike against a missile supported by Iran-backed Houthi militants in Yemen. The missile was set to launch on Saturday in response to an oil tanker being hit by the group. The Central Command reported that the missile was identified and prepared to launch at 3:45 a.m. local time on Jan. 27. It was determined to pose a threat to merchant vessels and U.S. Navy ships in the area, leading to an act of self-defense by U.S. forces who subsequently destroyed the missile.
The missile strike on the oil tanker was the most recent of several attacks on ships in the region by Houthi forces. In a separate incident, on Jan. 26, the USS Carney avoided a missile attack launched by the same group. It was successful in shooting down the missile.
The escalating conflict has led to a 45% decrease in freight going through the Suez Canal over the past two months, according to the United Nations Conference on Trade and Development. Shipping companies have been altering their routes, diverting ships from the Red Sea in response to the missile threat.
The Houthis, also known as Ansar Allah, have turned their focus to the ongoing Israel–Hamas conflict, launching missile and drone attacks against merchant ships in an attempt to disrupt Israeli operations in Gaza. These actions, along with the general conflict, have raised concerns and disrupted the flow of goods along important global trade routes. The disruption has the potential to lead to more inflationary pressures, as freight rates increase and pass along the costs to consumers.