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 $70.5/b ▲ TTF €43.7/MWh ● OPEC_ORB n/a SPR_US 331.2 Mb ▼ FAO_FFPI 130.8 ▼
Field note · MENA
War-risk premiums have moved twice this quarter. They are leading the freight rate, not following it.