Ahoy The Ship Show - 06/25/2025

On June 23, 2025, global oil prices dropped by over 7% after initially spiking earlier in the month due to fears of escalating conflict between Iran, Israel, and the U.S. The decline followed Iran's limited missile retaliation against a U.S. base, which markets interpreted as a sign that a broader conflict—and major disruptions to oil supplies—was less likely. This shift in sentiment led to a rapid unwinding of the risk premium that had previously driven prices higher.