MIDEAST MONITOR

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Intelligence Report
2026-03-02 — 07:31 CET
Open Source

FLASH — 07:31 CET, March 2, 2026

  • Asia faces oil shock as Strait of Hormuz choked — SCMP: Asian countries facing direct energy crisis. Strait blockade cuts supplies to world’s largest importers. SCMP
  • Ship insurers cancel war risk cover — insurance companies withdraw coverage for vessels in the Gulf area. Cascading impact on global trade and shipping costs. Asharq Al-Awsat
  • Platts suspends fuel assessments — the energy pricing reference agency unable to produce reliable assessments for the region. Signal of severe market dysfunction. Asharq Al-Awsat

⚠️ Economic domino effect: Hormuz blockade → insurance cancelled → Platts suspends assessments → Asia energy shock. European markets open in 90 minutes.