The following is the May 8, 2024, Congressional Research Service In Focus report, Red Sea Shipping Disruptions: Estimating Economic Effects.
From the report
Attacks by the Yemen-based Ansar Allah (Houthi) movement in the Red Sea and Gulf of Aden since November 2023 have disrupted a critical maritime passage for global supply chains, creating bottlenecks at the Suez Canal and Bab al-Mandab Strait—one of the world’s most significant trade chokepoints—and forcing vessels into longer and more costly...
https://news.usni.org/2024/05/09/report-to-congress-on-economic-effects-of-red-sea-disruptions