Institution: Surging oil prices will erode shipping profits and increase uncertainty in transportation costs

Golden Ten Data reported on March 10 that Josh Delfosse, an energy market analyst at transportation technology company Breakthrough, stated that the surge in oil and fuel prices is creating budget uncertainty for shipping companies and could erode their profit margins, making it difficult to accurately predict transportation costs. He pointed out: "The sustained high prices reflect more than just the initial panic buying; it indicates that the market is increasingly pricing in the risks of long-term geopolitical turmoil." NYMEX diesel futures are currently at their highest level in more than three years, far above the peaks seen in November last year and during the late January winter storm Fern. Delfosse added: "Comments from various market participants indicate that there are no clear signs of an end to the conflict."