

STATE OF THE STRAITWeek Ending Monday, October 12, 2026 | Cutoff: 20:40 EDT
The Gulf's physical petroleum network is proving harder to paralyze than many expected. Yet insurance and freight costs are imposing extraordinary financial penalties on the ships and cargoes keeping that network operational. Meanwhile, the Black Sea is developing its own distinctive risk premium, with reported tanker insurance costs rising more than twelvefold and freight rates separating even from comparable Russian Baltic routes











