Showing posts from February 18, 2024

Iran's reluctance to escalate the Middle Eastern crisis and falling commodity prices

Estimated Commodity Prices - Google  With the war in the Middle East at a critical juncture, especially when it comes to the potential casualties of the beleaguered Palestinians near the Rafah crossing, bordering Egypt, Iran's desire to get involved in the conflict, if it had any before -  apart from the Western estimates -  appears to be on the wane. Although the shipping route in the Red Sea is still vulnerable to the intermittent attacks by the Houthis from Yemen, the crisis appears to be manageable, as far as imminent dangers to the selected ships are concerned.  One of the obvious casualties in the  Red Sea saga, apart from the shipping companies - and consumers worldwide, of course -  has been Egypt: President Sisi of Egypt admitted today that his country lost between 40-50% of the revenue earned from the ships through the Suez Canal; many ships avoid the narrow waterway - and the Red Sea - not to risk the attacks by the Houthis; as the traffic plummeted so did the revenue fo

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