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Global Travel Industry Reels as Middle East Conflict Triggers Deep Market Shock

Stranded passengers wait near Emirates Airways customer service office at I Gusti Ngurah Rai International Airport in Kuta, Bali, Indonesia. Travel stocks have plunged sharply as the escalating conflict involving the US, Israel, and Iran triggers the most severe disruption to global aviation since the pandemic. Major Middle Eastern hubs—including Dubai, the world’s busiest international airport—have remained closed for days, stranding tens of thousands of passengers and forcing airlines to reroute or cancel flights on a massive scale.  Oil prices have surged by about 7% amid rising geopolitical tensions, adding further pressure to airlines already grappling with operational chaos. Higher fuel costs are expected to squeeze margins across the sector, with analysts warning that the ripple effects could last for weeks.  European travel giants have been hit especially hard. Shares in TUI dropped 8.5% in early trading, while Lufthansa and other major carriers saw declines of up t...
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Yemen’s Houthi rebels target Iranian-bound ship in Red Sea



A ship carrying oil products from Brazil to Iran was attacked by Yemen’s Houthi rebels on Monday, causing minor damage but no injuries to its crew, authorities said.

The Marshall Islands-flagged, Greek-operated bulk carrier Star Iris was hit by two missiles while sailing south through the Bab el-Mandeb Strait, a narrow waterway that connects the Red Sea and the Gulf of Aden.

The Houthis claimed responsibility for the attack, saying they targeted an “American” vessel in retaliation for the “Zionist crimes” in Gaza and the “American-British aggression” in Yemen. However, they did not provide any evidence to support their claim.

The Star Iris was heading to Bandar Khomeini, a port in southwestern Iran that is the main destination for Iranian oil exports. Iran is the main supporter and supplier of weapons to the Houthis, who have been fighting a Saudi-led coalition in Yemen since 2015.

The attack on the Star Iris is the latest in a series of Houthi missile strikes on ships in the Red Sea and the Gulf of Aden, which are vital routes for global trade and energy. The rebels have also targeted Saudi oil facilities, airports, and military bases in the region.

The U.S. and the U.K. have conducted several airstrikes against the Houthis’ missile launch sites and arsenals in recent weeks, in an effort to protect the freedom of navigation and prevent further escalation. The U.N. has also called for a ceasefire and a political solution to end the conflict in Yemen, which has caused the world’s worst humanitarian crisis.

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