Yemen’s Red Sea ports could be key to ending conflict with Houthis

After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.

• May 26, 2022Black Sea ports still the best way to get Ukraine's grain moving fast | Reuters-1.9%
• Mar 18, 2022Black Sea conflict adds uncertainty to barley outlook - The Barley Bin+14.9%
• Mar 21, 2022Ukraine could lose $6 bln in grain exports with ports blocked | Reuters+15.8%
• Dec 31, 2019The Black Sea May Be the Key to Higher Wheat Prices - ProAg+0.6%
• Aug 20, 2026FACTBOX: Black Sea grain trade strained by escalating Russia-Ukraine conflict | S&P Global-1.3%

After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.

• Jul 31, 2018Aramco unlikely to reduce oil exports to West after Houthi attack, analysts say | The National-2.5%
• Nov 30, 2020Opec set for annual meeting to discuss next phase of oil production policy | The National+3.5%
• Apr 29, 2026In five charts: How UAE's exit could affect Opec's influence over the oil price-1.9%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-4.8%
• Sep 13, 2018Oil trades below $70 as traders assess supply shortage | The National-0.6%