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Shipping Risks

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Oil Rally May Persist as Key Straits Tighten Global Flows
energy2 hours ago

Oil Rally May Persist as Key Straits Tighten Global Flows

Disruptions to the Strait of Hormuz and the Bab el-Mandeb are tightening global oil flows and boosting transport costs, helping push Brent and WTI higher and fueling expectations that prices could reach $100/barrel. OPEC+ is seen pushing to unwind 2023 voluntary cuts, while Houthis’ Red Sea actions threaten Saudi exports and force routes to circumnavigate Africa, reinforcing the rally’s momentum even as China and other markets show some supply resilience.

via Crude Oil Prices Today | OilPrice.com|
#bab-el-mandeb#energy#hormuz
"Ukraine's Grain Exports at Risk as Russia Escalates Attacks"
international-affairs3 years ago

"Ukraine's Grain Exports at Risk as Russia Escalates Attacks"

Despite repeated attacks on Ukrainian ports and warnings from Russia, there is still interest from ship owners in carrying Ukrainian grain through the Black Sea, according to the International Chamber of Shipping. However, the risks for ships include explosive mines, collateral damage at ports, and being targeted themselves. The availability of insurance coverage for potential damage or injuries to crew members will determine the continuation of shipments. Some analysts expect Ukraine to resort to alternative transportation routes, but this could lead to higher costs and lower production for Ukrainian farmers. Additionally, a ban on Ukrainian grain imports by five European countries has created further challenges for Ukraine's grain exports, potentially impacting developing countries already struggling with high food prices.

via The Associated Press|
#black-sea#grain-exports#international-affairs