For weeks now, global energy and geopolitical markets have been speculating about a possible conflict in the Middle East between Iran and the U.S., but they still seemed unprepared and entirely surprised by what happened this weekend.
Without going into the details that news outlets have already covered extensively, WPI provides below a short recap of the weekend’s events, particularly as they pertain to global energy trade and ocean freight. Some of the key developments were:
The U.S. killed the Iranian Supreme Leader Khamenei as well as the Iranian defense minister. The U.S./Israeli strikes destroyed nine “important” Iranian naval vessels. In retaliation, Iran attacked some 15 countries nearby, including oil facilities...
What You Need to Know Today: U.S. Treasury Secretary Bessent said Friday that the U.S. has seized $1b of Iranian crypto assets. Iran’s IGGC says 15 merchant vessels, including 4 oil tankers, have passed through the Strait of Hormuz in the past 24 hours. Managed money traders...
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
Game of Chicken The U.S. and Mexico just completed an initial round of bilateral negotiations leading up to completing a joint review of the U.S. Mexico Canada Agreement (USMCA). A second round is scheduled for June 16-17 in Washington and will include agriculture as a key agenda item. A third...
