Fuel Prices React to Middle East Unrest: Updates from the Commodity Markets

Markets react to the tragic events Welcome back to Freight Up! Our weekly podcast from Freight Investor Services - or as we're more affectionately known - FIS is here to bring you another massive update.  Middle East Unrest Hey, I'm your host Fernanda! In this week's episode we're discussing the current events unfolding in the Middle East and how they're impacting the commodity markets.  Join us as our experts provide insights on the reaction of the fuel and crude markets to the geopolitical news. We will also get an update on iron ore and explore the latest developments in the FIS Carbon market. Carbon Market Our head of environmental products brings us the latest developments in the carbon discussion. While most of the focus has been on the geopolitical events in the Middle East, it's crucial not to overlook the ongoing conversation around carbon emissions and their impact on the freight and commodities industry. The carbon discussion has been gaining momentum in recent years as the world grapples with the urgent need to address climate change. Industries across the board, including freight and commodities, are facing increasing pressure to reduce their carbon footprint and adopt more sustainable practices. Featured guests in this episode are Archie Smith, James Robinson and Theodore Goulios.   Here's the link to the FIS live app   Timestamped summary of this episode: 00:02:28 Market roller coaster with poor demand outlook. 00:04:41 Market fluctuations not directly tied to Israel-Gaza conflict. Singapore had abundant oil supply from Russia, affecting prices. 00:06:41 Israel-Gaza: Monitor global situation, oil may be impacted. 00:13:08 Seamless participation, marketability, communication across industries. 00:14:39 Proof of green power for green companies. International renewable credits link unexpected countries. 00:17:20 Carbon offsets boost company confidence in legislation.