Gulf insurance costs soar 12-fold despite Trump guarantee, via FT; Shipowners quoted millions of dollars in premium as brokers grapple with risk

Gulf insurance costs soar 12-fold despite Trump guarantee, via FT; Shipowners quoted millions of dollars in premium as brokers grapple with risk.

The significant increase in Gulf insurance costs reflects heightened risk perceptions in the region, exacerbated by geopolitical tensions despite assurances from the Trump administration. This sharp rise could lead to increased shipping costs, impacting global supply chains and potentially influencing commodity prices, especially in energy markets. Traders should monitor how this development affects currency movements, particularly for the USD, and broader market sentiment.