Demand on the transpacific has proven sturdier than expected. June's early peak-season pull came partly from fears of a July tariff hike; with tariffs holding steady and further increases still possible, shippers appear to be sustaining bookings rather than pulling back.
Global crude oil futures settled higher on Friday, capping substantial weekly gains as Washington's threat of secondary sanctions against Iran’s trading partners intensified supply deficit concerns amid chronic maritime transit disruptions.
Global crude benchmarks rallied more than 2% on Thursday to settle at their highest levels in nearly a month, driven by aggressive US threats of secondary economic sanctions against buyers of Iranian crude, persistent transit paralysis in the Strait of Hormuz, and tightening refined product inventories.