Geopolitical Tensions in Middle East Disrupt Global Energy Shipping
The ongoing conflict in the Middle East has severely disrupted shipping traffic through the Strait of Hormuz, a critical passageway for global oil supply. Tanker traffic has decreased by approximately 90%, with many vessels anchored or sheltering in the Gulf. Major shipping companies like Maersk, MSC, Hapag-Lloyd, and CMA CGM have suspended transits, and insurers have withdrawn war risk coverage, leading to volatile freight rates. The Strait typically handles about a fifth of the world's oil supply, but current disruptions have significantly impacted importers in Asia and Europe, as well as fast-growing economies in Africa. Africa's demand for LPG and refined products has been particularly affected, straining markets and shortening timelines for commoditized purchases. 
