Maersk and Hapag-Lloyd will shift their AE15 Asia-Europe service back through the Suez Canal starting July 24, ending a Cape of Good Hope detour in place since late 2023. Egypt's canal revenue has dropped sharply amid the diversions, though Houthi threats and a fragile US-Iran de-escalation leave the route's stability uncertain.
Russia is considering redirecting liquefied natural gas volumes previously destined for Europe toward Asia-Pacific buyers, media reports quoted Deputy Prime Minister Alexander Novak as saying, according to Reuters. The move underscores an ongoing shift in Russia's gas trade routes as European demand for Russian gas continues to decline.
US President Donald Trump said he will raise tariffs on EU-made cars and trucks to 25% next week, accusing Brussels of not complying with the 2025 Turnberry trade deal that had capped the rate at 15%. Germany, the EU's largest auto exporter, stands to be hit hardest, while a Cato Institute economist said the EU appeared to be largely complying with the framework.
Global LNG exports have dropped to their lowest level in six months, according to Bloomberg, as the conflict involving Iran raises risks for tankers transiting the Strait of Hormuz. Qatar, a top LNG exporter reliant on the strait, is especially exposed, with shipowners and insurers reacting to the heightened uncertainty.
China has placed two US rare earth companies on an export control list, according to Investing.com, marking a fresh escalation in the ongoing critical minerals dispute between Beijing and Washington. The move adds to a series of tit-for-tat restrictions that have unsettled global supply chains for rare earth elements used in defense, electronics and clean energy technology.
Oil prices spiked on fears of a widening Iran conflict before retreating after President Trump suggested the war could end soon, while gold also fell back. Goldman Sachs says the episode is a preview of a new era in which power grids and metals like copper, lithium and aluminum — not just oil — become the source of sudden price shocks.
President Trump has announced new tariffs of up to 200 percent on furniture imports and additional duties on timber and lumber, alongside an expanded US blacklist of Chinese companies that Beijing has called 'malicious'. The move is framed as an effort to revive furniture manufacturing in states like North Carolina, while reports point to rising consumer prices and fresh strain on trading partners already affected by prior tariff rounds.
Global food prices have climbed to their highest level in three years as the Iran conflict disrupts energy, freight and fertilizer flows through the Strait of Hormuz. The FAO warns further increases are likely if the war continues, while soybean futures have rallied on renewed Chinese demand and higher crude oil prices.
US natural gas production averaged a record 118.5 Bcf/d in 2025 while LNG exports jumped 26% to 14.6 Bcf/d, driven by new capacity from Venture Global and Cheniere. Fourth-quarter margin compression hit liquefaction stocks, but contracting activity and tightening global inventories have since revived the sector.
China is shipping more rare-earth products as its export licensing regime loosens following a framework trade deal with the United States and a Trump-Xi summit. Analysts including BMI and researchers at Resources for the Future say Beijing's structural control over mining, processing and magnet production means the underlying dependence of importers has not changed.
Indonesia has cut mining quotas and approved a new export tax, tightening supply from the country that produces more than 60% of the world's nickel and pushing prices to a two-year high. The squeeze coincides with a new US-Indonesia commodities deal that analysts say challenges China's entrenched position in the market.
The World Bank forecasts global commodity prices will rise 16% in 2026, the first annual increase since 2022, as the Middle East conflict drives energy prices up 24% and pushes fertilizer, aluminum and precious metals toward record highs. Agriculture is the sole commodity group expected to fall, as a slump in beverage prices offsets a modest rise in food costs.
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