War-risk premiums have moved twice this quarter. They are leading the freight rate, not following it.
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> published 2026-05-10BRENT $88.52/b ● TTF €61.42/MWh ▲ OPEC_ORB $108.8/b ● SPR_US 304.8 Mb ▼ FAO_FFPI 130.3 ▼
Field note · MENA
War-risk premiums have moved twice this quarter. They are leading the freight rate, not following it.