Narrow strait linking the Red Sea to the Gulf of Aden, a key chokepoint for shipping and subsea cables between Europe, Asia, and the Suez Canal.
Google paid two to three times the roughly 6 million euro going rate for backup fiber across Turkey, according to a person familiar with the deal. Most Europe-Asia cloud traffic still crosses the contested Red Sea strait, so the premium buys a route for the day a cable breaks.
Reality
Brent near $108 and futures pricing a 92.3% chance of a Fed hike took the 10-year to 5.014% intraday. Capital Economics says the United States is not in a fiscal crisis yet because nominal growth still beats debt service.
Perspective Coverage
6 publishersReality
The Qatar Investment Authority's new partnership with JPMorgan's asset management arm begins with a $15 billion public equities mandate, announced in the same week Qatar's Emir told the UN that the Gulf is in one of its most dangerous phases.
Reality
Friday's 2.9% fall prices Monday's first Iran-GCC ministerial since the war began, at a moment when regional exports sit near two-thirds of prewar levels and the Houthis are hitting Saudi Arabia's Red Sea bypass.
Reality
Sea Legend Line's new Northern Sea Route service halves Suez transit times, but the corridor carried 23 container ships last year and runs on Russian permits.
Reality