FacebookTwitterEmailLinkedin According to GMS’ latest report, Middle East chaos between U.S./Israel and Iran leaves markets fearing imminent global economic turmoil. As informed, oil was already on its way up during the week, but as the weekend came around, it spiked over 10%, jumping from around USD 63/barrel last week to nearly USD 71.90/barrel at the time of writing. The Baltic Exchange was also on its way up (rising 1.1%) but remained comparatively subdued in comparison to oil futures…yet. The Cape, Panamax, and Supra indices all climbed 0.2%, 1.4%, and 3% respectively. RelatedNews Iraq and Pakistan strike deal with Iran to move oil and gas through Hormuz Iran expands its operational area in Hormuz var jnews_module_21366616_0_6a04e45d27af5 = {"header_icon":"","first_title":"Related","second_title":"News","url":"","header_type":"heading_8","header_background":"","header_secondary_background":"","header_text_color":"","header_line_color":"","header_accent_color":"","header_filter_category":"","header_filter_author":"","header_filter_tag":"","header_filter_cpt_post_tag":"","header_filter_cpt_tribe_events_cat":"","header_filter_cpt_web_story_category":"","header_filter_cpt_web_story_tag":"","header_filter_text":"All","sticky_post":false,"sticky_post_filter":false,"post_type":"post","content_type":"all","sponsor":false,"number_post":"2","post_offset":0,"unique_content":"unique1","include_post":"","included_only":false,"exclude_post":"21366616","include_category":"","exclude_category":"","include_author":"","include_tag":"1974,4346,568,1573,1582","exclude_tag":"","exclude_visited_post":false,"post_tag":"","tribe_events_cat":"","web_story_category":"","web_story_tag":"","sort_by":"latest","show_date":"","date_format":"default","date_format_custom":"Y\/m\/d","pagination_mode":"disable","pagination_nextprev_showtext":"","pagination_number_post":"2","pagination_scroll_limit":0,"ads_type":"disable","ads_position":1,"ads_random":"","ads_image":"","ads_image_tablet":"","ads_