Global oil prices have surged in early 2026 due to escalating Middle East tensions and shipping disruptions in the Strait of Hormuz. Brent crude has risen from around $60 per barrel in January to approximately $91 in mid-March — an increase of over 50%. This is impacting freight rates, fuel surcharges, insurance premiums, and logistics costs worldwide. This advisory outlines the situation, shipment impacts, and our mitigation measures.