On Sep 25, Trend-following CTAs cut wheat exposure to 45% long, the sharpest daily selling since Jul 2025, amplifying the pullback despite persistent supply risks. In early September, US wheat rallied ...

The scaling of MEG trades has already forced Middle East Gulf (MEG) exporters to bypass local Ship-to-Ship (STS) transfers in favour of direct voyages ...

Middle Eastern supply outages have pushed the global crude balance into a deficit of roughly 1 to 2 million b/d, with these outages driving down the availability of heavier grades in particular.

Diplomacy and desperation are both accelerating at once. The question for markets is whether either side's decision-makers have enough reason to sign one before the other side's leverage erodes ...

Saudi Arabia’s export rerouting is pushing Gulf of Oman (GoO) ship-to-ship (STS) transfers toward capacity limits. To maintain flows, operations must pivot to longer-distance hubs like West Coast ...

A single attack on a Saudi pipeline in early September has done more than knock out one export route. Three weeks on, it is reshaping crude flows, lifting tanker freight rates, tightening diesel ...

Near-term recovery is a logistics story; full normalisation is a capacity restoration story. Middle Eastern refinery runs began to recover in May, but renewed regional tensions and the effective ...

In the third week of the US-Iran MoU, 95% of the barrels leaving the Gulf could be traced to the terminal that loaded them. In the final week, 66% could not. That reversal, more than any statement ...

Vessel crossings through the Strait of Hormuz briefly rebounded on 28–29 July, a positive signal after weeks of decline, but the move failed to hold on 30 July and any broader recovery remains ...

The demand case has acquired a second engine alongside electrification. The largest cloud and platform companies are on course to spend roughly $725–750 billion of capital in 2026, up around 70% on ...