Brent crude jumped 3.5% to $84.25/bbl as the escalating US-Israel-Iran conflict heightens supply disruption fears in the Persian Gulf. Logistics operators should expect immediate bunker cost increases and carrier-imposed fuel surcharge revisions. Contract BAF clauses should be reviewed urgently, and short-term fuel cost hedging is advisable.
Rate Direction
Rates up +8.00%
Time Horizon
days
Confidence
62%
Routes Affected
Strait of Hormuz / Persian Gulf / Red Sea / Suez Canal / Indian Ocean
Ports / Terminals
Jebel Ali / Bandar Abbas / Fujairah / Salalah / Port Said
Carriers
MSC / Maersk / CMA CGM / Hapag-Lloyd / Evergreen / COSCO
Source
https://www.hellenicshippingnews.com/oil-prices-surge-higher-as-conflict-threatens-supply-goldman-lifts-forecasts/published 04 Mar 2026, 11:00 UTC