The United Nations Conference on Trade and Development (UNCTAD) reports that conflict in the Strait of Hormuz is disproportionately harming small and medium-sized enterprises, which face rising costs and risk being forced out of global supply chains.
The head of Nigeria's Dangote oil refinery warns that global fuel shortages will persist long after any U.S.-Iran conflict, citing refinery damage and the need for nations to rebuild strategic inventories.
Yemen's Houthi movement has renewed attacks on Saudi Arabian cities and energy infrastructure, threatening to reignite the country's civil war and further disrupt global energy markets already strained by regional tensions.
The main sea freight index for dry bulk commodities rose on Tuesday, as higher rates for larger capesize vessels, which carry iron ore and coal, compensated for weakness in the mid-sized panamax segment.
European natural gas futures surged to their highest level since early 2023 amid fears that a potential military conflict involving Iran could disrupt critical LNG shipments through the Strait of Hormuz, a key global energy chokepoint.
The Japanese yen has climbed to its strongest level against the U.S. dollar since February, driven by growing investor bets on an imminent interest rate hike from the Bank of Japan. The move pressured Tokyo stocks and highlighted a growing tension between robust global growth and the prospect of tighter monetary policy.
Ukrainian President Volodymyr Zelenskiy acknowledged that U.S. envoys presented 'decent, worthwhile ideas' to end the war with Russia, though the meetings did not result in a breakthrough.
Total fuel consumption in India declined 2.8% year-over-year in August to 18.61 million metric tons, driven by sharp drops in LPG and naphtha, according to government data. Sales of key transport fuels like diesel and gasoline posted robust growth.
The investment bank raised its Brent and WTI price targets, citing the expectation that shipping disruptions in the Middle East will extend into 2027, though it noted several factors that could moderate a major price spike.
