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“It won’t be tough to finish the job” – Middle East Latest
Iran has launched more attacks on vessels transiting the Strait of Hormuz, triggering more threats from the White House.
Mind the Macro

US-Iran Tensions Escalate, Oil Volatility, and Grain Route Disruptions
This edition covers the escalating US-Iran conflict impacting the Strait of Hormuz and oil prices, disruptions to Black Sea grain routes, Europe's contradictory gas market, and the container sector's long-term outlook amidst geopolitical unpredictability.
All Reports

Macro Topics Note 13 July 2026
The US-Iran conflict intensifies, prompting oil price spikes, while Russia-Ukraine attacks disrupt grain shipping in the Sea of Azov, posing risks to global supplies, amidst Europe’s paradox of rising LNG imports from Russia.

Macro Topics Note 06 July 2026
NATO summit reveals tensions in US-European defense commitments, while oil markets experience instability, and Europe heads into winter with low gas reserves.

Macro Topics Note 29 June 2026
The UK is set to welcome its seventh prime minister in 10 years as Andy Burnham prepares to take over.

Macro Topics Note 22 June 2026
The signing of a memorandum of understanding reassured markets but leaves many things unclear.

Macro Topics Note 15 June 2026
The US and Iran finally reach a peace deal, bringing both relief and uncertainty with it.

Macro Topics Note 8 June 2026
Israel and Iran spent a day exchanging missiles before Iran vowed to pause on Monday.

Macro Topics Note 1 June 2026
For the umpteenth time, talks of peace are interrupted by renewed military action.

Macro Topics Note 18 May 2026
UK's political instability deepens as Labour suffers major local election losses; global oil prices rise amid Middle Eastern tensions, while LNG markets brace for shifts in Europe and potential US-China trade revival.

Macro Topics Note 11 May 2026
Oil prices surged as geopolitical tensions escalated, with Brent reaching USD 105.50 per barrel and WTI at USD 99.80, causing inflation concerns and impacting global economies.

Macro Topics Note 27 April 2026
Peace talks between the US and Iran have been delayed once again, prolonging uncertainty and lowering supply of various commodities along with the global economic outlook. Meanwhile, Trump faces an assassination attempt.

Macro Topics Note 20 April 2026
Strait of Hormuz tensions persist, impacting oil prices and exacerbating global fertiliser shortages, with severe implications for food security amid ongoing geopolitical conflicts and energy supply disruptions in Asia.

Macro Topics Note 13 April 2026
After talks between the US and Iran over the weekend failed to establish an end to the war, the US has threatened a naval blockade of Iranian ports, signalling a new escalation in the conflict.
