Pentagon Moves More Troops, Warships to the Middle East

Food Supply Alert: Ukraine Grain Exports Collapse As Black Sea Attacks Choke Global Shipments Upward momentum in agricultural prices, as tracked by the Bloomberg Agriculture Spot Index, should be ringing inflationary alarm bells. The breakout comes just one week after JPMorgan analyst Nora Szentivanyi warned that the next global food crisis could materialize as early as next year. Multiple shocks are converging all at once across the global food complex, including continued disruptions in the Strait of Hormuz, rising El Niño risks, and adverse weather across the US agricultural belt. This...

Maersk Slaps Emergency Fuel Surcharge As War Upends Marine Supply Chains Submitted by Michael Kern of OilPrice.com, The war in the Middle East has upended shipping fuel markets with prices of marine fuels skyrocketing and regions running low on supply, pushing some traders to forgo cargo and ship additional fuel volumes to key bunkering ports outside the Middle East. The price of fuel oil has surged this month as the stalled tanker traffic at the Strait of Hormuz is tightening supplies of the fuel in Asia, the key bunkering hub for fuel...