The silent power behind the global oil trade :: Mmegi Online

In every Middle East crisis, public attention turns first to missiles, fleets, and air power. That is understandable, but it misses the mechanism that often delivers the first real economic shock.

Oil does not move through a war zone just because a tanker is physically capable of sailing. It moves only when financiers, charterers, cargo owners, and insurers accept the risk. That is why the Joint War Committee, the International Underwriting Association risk list, and the March 2026 circular that revised listed areas matter far more than many politicians admit. As Reuters reported, once London market underwriters expand a high-risk designation, shipping costs jump immediately. My view is simple: modern oil warfare is not only fought with weapons. It is fought through actuarial judgment, contract language, and the price of fear.

The Strait is not just

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

oil trade
african politics

The silent power behind the global oil trade

In every Middle East crisis, public attention turns first to missiles, fleets, and air power. That is understandable, but it misses the mechanism that often delivers the first real economic shock.

Explore

More

Three Batswana injured, one captured, 15 missing in Russia–Ukraine war

Embrace UDC direct members, BNF faithfuls urged

BNF leaders warn against indiscipline

BNF bows to cadre deployment pressure

Two die in road mishap between Kumaga, Rakops

Molepolole woman kills brother over debt

Police seek family of unidentified dead man

Banana ginger pancakes

Diplomatic relations must be on equal footing