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Markets across the globe fell as the price of crude oil rose above the $100 mark for the first time since May. On Thursday, Saudi Arabia had to suspend operations through its East-West pipeline after a Houthi drone strike. Saudi oil traders have said they will run out of oil exports if the pipeline doesn’t reopen within days, hampering around 4% of the global oil supply. Yesterday, the Houthis also captured the island of Perim expanding their control of the Bab al-Mandab strait.

Supply pressures forced US retailer Costco to start limiting how much motor oil consumers can buy to 40 gallons per week…

In our first blog on CIPs in 2026: Tuning the Engine for Growth, our latest research with the lang cat, we looked at the case for formal governance when outsourcing a CIP, including robust documentation and monitoring processes. Now we’re turning our attention to how firms interact with their providers to make sure they are getting the best value from outsourcing…

Higher oil prices put fresh pressure on bond markets sending yields across the globe higher. 30-year UK gilt yields hit 5.80% their highest level since 1998 and their equivalent US government bond yields also reached their highest level since 2008. Japan’s 10-year yield hit 3% for the first time in thirty years, doubling the rate it was at when Sanae Takaichi became Prime Minister.

Yields did pull back later in the week as the rise in oil prices slowed. All the turmoil in bond markets doesn’t show much sign of slowing down…

Oil climbed above $90 a barrel over the bank holiday weekend, after the US targeted rocket launchers on Larek Island to stop the Iranians from deploying mines in the Strait of Hormuz. Economic sanctions had been the preferred approach of the US over the last month but there’s been little success at getting Iran back to the negotiating table. Iranian leaders appear prepared to drag talks out until at least after the US midterm elections in November.

Prior to the latest strikes, traffic through Hormuz had increased 30% week-on-week. Expect it to fall back again this week if tensions can’t be de-escalated…

US Treasuries have been back in the news this week following the US’s intervention to prop up the yen in Japan. With Japan holding more US Federal debt than any other nation, the American’s can ill afford a situation where the yen drops so low they must sell off their US bonds.

While the US dollar remains the anchor of the global financial system, with dollar‑denominated assets forming the core of official foreign exchange reserves, recent data indicates a measurable shift in reserve composition (hence why Japan overtook China as the largest holder of US Treasuries in 2019) and, more importantly, in how incremental reserves are allocated…

Since I joined Copia back in April, I have been working with the team to review our proposition which in turn should help you better support your clients.
I am delighted that we will be heading into September with four new additions to strengthen our Sales and Investment teams. This is a big step forward on our path to get the right expertise to meet our ambitious plans for the future…