# The Week in Charts: Crude tanker correction worsens in wake of US midterms | Black Sea shipping activity plunges as escalating attacks deter owners

> Crude tanker spot rates, forward freight agreements, oil prices and tanker equities fell after the US midterm elections, as markets anticipated that the vote could lead to an end to the Iran war and safer Strait of Hormuz passage. Black Sea shipping activity was down 37% year on year in October as escalating attacks deterred shipowners.

- Date: 2026-11-09 · published 2026-11-09T21:08:31.908Z
- Category: logistics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/90156-the-week-in-charts-crude-tanker-correction-worsens-in-wake-of-us-midterms-black
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower Black Sea shipping activity can constrain grain export flows and raise freight and insurance costs, supporting regional grain prices. The tanker-market move reflects changing expectations for oil supply risks, but the article does not establish a clear direction for feed-commodity prices.

## Read by commodity

- WTI: bearish ▼
- CORN: bullish ▲
- BRENT: bearish ▼
- WHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-07-28 | [Ukraine: suspension of shipping to Black Sea ports and the associated risks \| OSW Centre for Eastern Studies](https://feedsoft.ai/events/14099-ukraine-suspension-of-shipping-to-black-sea-ports-and-the-associated-risks-osw.md) | -0.3% | +4.8% |
| WHEAT | 2022-12-23 | [What made the Black Sea a "leader" of freight rates decline? – BPG Shipping](https://feedsoft.ai/events/38132-what-made-the-black-sea-a-leader-of-freight-rates-decline-bpg-shipping.md) | +0.7% | -3.3% |
| WHEAT | 2023-08-08 | [After attacking Ukraine wheat exports, Russia faces own shipping challenge \| Reuters](https://feedsoft.ai/events/14369-after-attacking-ukraine-wheat-exports-russia-faces-own-shipping-challenge.md) | -1.2% | -8.0% |
| WHEAT | 2023-01-31 | [Black Sea Watch: Grain flows ease on month as inspection delays remain unresolved \| World Ports Organization](https://feedsoft.ai/events/14422-black-sea-watch-grain-flows-ease-on-month-as-inspection-delays-remain.md) | +2.2% | -4.4% |
| WHEAT | 2022-10-24 | [Freight rates in the Azov-Black Sea region are increasing \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/39033-freight-rates-in-the-azov-black-sea-region-are-increasing-ukrainian-and-world.md) | -0.6% | +1.5% |
| CORN | 2026-07-28 | [Ukraine: suspension of shipping to Black Sea ports and the associated risks \| OSW Centre for Eastern Studies](https://feedsoft.ai/events/14099-ukraine-suspension-of-shipping-to-black-sea-ports-and-the-associated-risks-osw.md) | -1.7% | +1.9% |
| CORN | 2022-12-23 | [What made the Black Sea a "leader" of freight rates decline? – BPG Shipping](https://feedsoft.ai/events/38132-what-made-the-black-sea-a-leader-of-freight-rates-decline-bpg-shipping.md) | +2.1% | +2.2% |
| CORN | 2025-09-19 | [Panamaxes are becoming more expensive due to activity in the ports of Great Odesa \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/23078-panamaxes-are-becoming-more-expensive-due-to-activity-in-the-ports-of-great.md) | +0.2% | -1.1% |

## Sources

- lloydslist.com: https://www.lloydslist.com/LL1158949/The-Week-in-Charts-Crude-tanker-correction-worsens-in-wake-of-US-midterms--Black-Sea-shipping-activity-plunges-as-escalating-attacks-deter-owners

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.