US crude heads to Asia via Panama Canal as Iran crisis redraws trade flows

After 26 past bullish logistics events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (58% higher; middle half -5.1% to +9.5%), and +2.0% over 20.

• May 21, 2026Iran war boosts Panama Canal traffic-8.7%
• Sep 17, 2026Panama Canal stress shows the real shipping squeeze may still be ahead | Reuters-7.8%
• Jul 27, 2023Grain Journal | USDA Grain Transportation Report (7/27): Panama Canal…+0.6%
• Mar 23, 2022Oil jumps 5% as Caspian pipeline disruption adds to supply fears | Reuters-6.3%
• Mar 12, 2026With the Strait of Hormuz choked by war, the Panama Canal reaps the benefits | CNN+10.6%

After 22 past bullish logistics events, Crude Oil (Brent) moved a median -0.7% over 5 sessions (45% higher; middle half -5.7% to +4.5%), and -1.2% over 20.

• Mar 23, 2022Oil jumps 5% as Caspian pipeline disruption adds to supply fears | Reuters-5.9%
• May 21, 2026With the Strait of Hormuz closed, the Panama Canal is busier than ever. It should use this windfall wisely. - Atlantic Council-9.8%
• Mar 29, 2022CPC pipeline outage forces Kazakhstan to cut oil output by a fifth | Reuters-5.0%
• Feb 25, 2022Shippers prepare as Ukraine crisis prompts emergency fuel surcharges - The Loadstar+12.7%
• Mar 8, 2022Soaring bunker prices could hasten 'return to normal' for liner trades - The Loadstar-13.8%