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Rising Tensions Leave Ships Stranded in Key Oil Passage

Traffic through the Strait of Hormuz ⁠was closed for a fourth day on Tuesday, choking off a key artery accounting for about 20% of global oil and gas supply. Greece’s Minister of Maritime Affairs and Insular Policy, Vassilis Kikilias, has raised urgent concerns over an increasingly alarming situation in the Strait of Hormuz, where dozens of vessels remain stranded amid escalating conflict involving Iran. He emphasized the need to safeguard global shipping and protect seafarers as the strategic waterway—responsible for roughly 20% of global oil and gas flows—remains closed for a fourth consecutive day.  The closure has disrupted international trade routes and heightened anxiety across the maritime sector. Greek authorities have urged shipowners to exercise maximum caution and avoid high‑risk zones in the wider Persian Gulf region as tensions continue to rise. The prolonged shutdown underscores the vulnerability of global supply chains to geopolitical instability and highlights th...
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Dollar’s Downturn: A Five-Month Low Amid Rate Cut Speculation


The U.S. dollar is poised for its most significant weekly decline in five months, driven by the Federal Reserve’s potential shift towards rate cuts, contrasting with the firmer stance of European central banks.

This divergence has fueled gains for the euro and the pound, while futures markets now reflect a 75% likelihood of a U.S. rate cut by March. Despite a rally in risk assets, concerns linger over the U.S. economy’s slowdown and persistent inflation, which could prompt a return of inflation if the Fed eases too quickly. 

Meanwhile, the ECB and BoE maintain their focus on combating inflation, with investors still anticipating rate cuts next year. The yen has also strengthened, marking its longest streak of gains against the dollar since mid-2020.

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