
A Nature Communications paper published on 24 November 2025 quantifies systemic losses from disruptions at maritime chokepoints. It estimates $192 billion of annual trade exposure, with about $10.7 billion in delay and trade losses and $3.4 billion in extra freight costs each year, driven mainly by Suez and Bab el-Mandeb risks.
The study quantifies the ongoing cost of chokepoint risk to shipping and trade, which supports a persistent risk premium in freight. It is a research finding rather than a new disruption, so it has little immediate price impact.
Not 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.