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Tankers and cargo ships face waits of three and a half days to enter the Panama Canal as the Iran war drives a surge in traffic. One vessel paid an extra $4 million to move to the front of the queue.
Long queues and extreme priority fees raise freight costs and delay grain and oilseed cargoes, which supports ocean freight rates.
bloomberg.comRuth LiaoApr 16, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
