Shipping in the Red Sea is being disrupted due to increased attacks by Yemen's Houthi rebels, leading to major oil companies and cargo ship lines avoiding the area. This has the potential to reshape global oil shipments and drive prices higher. The decision by major companies to avoid the Red Sea has led to a redirection of shipping routes, with ships now having to sail around the southern tip of Africa. The attacks have also resulted in an increase in shipping insurance costs, Europe experiencing a 13% jump in natural gas prices, and a nearly 4% climb in oil futures. The situation highlights how a disruption in one area of the world can have far-reaching effects on global supply chains and energy markets.