22 March 2026 · 3 min read · Navigator Advisory Team
Market Alert | Hong Kong | Risk & Insurance
Markets are closing out the weekend in crisis mode. Trump issued an ultimatum on Saturday threatening to “obliterate” Iran’s power plants unless Tehran fully reopens the Strait of Hormuz within 48 hours. Iran hit back on Sunday, threatening to strike energy and water infrastructure across Gulf states if Trump follows through. The deadline expires Monday night Hong Kong time.
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Brent crude
$114+
Record high this weekend
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Singapore jet fuel
+175%
Year to date 2026
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Asian LNG
+130%
Year to date 2026
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The Strait of Hormuz: why Hong Kong should be watching closely
Roughly 20% of the world’s oil and gas normally passes through the Strait of Hormuz. Right now it is effectively closed to most vessels. Brent crude hit record highs above $114 per barrel over the weekend. Goldman Sachs has sharply raised its forecasts, expecting Brent to average $110 in the coming weeks. Singapore jet fuel is up 175% this year. Asian LNG has climbed 130%. Bunker fuel costs — the fuel that moves everything you buy — are surging.
Asia is more exposed than almost anywhere else. China receives a third of its oil through the strait. Hong Kong, as a major trading and logistics hub, sits squarely in the path of these cost pressures.
What this means for your cover heading into Monday
Most standard policies contain war and civil unrest exclusions that people never read until something goes wrong. Tonight is the night to read them — or ask someone to explain them clearly.
The one question to ask your broker tonight
Before Monday morning, the single most useful thing you can do is call or message your broker and ask one question:
“What does my cover actually exclude in a war scenario?”
Most standard policies contain war and civil unrest exclusions that people never read until something goes wrong. Tonight is the night to read them — or ask someone to explain them clearly.
If you are a Navigator client, or if you would like an honest second opinion on your current cover, reach out to our team directly. We are available and we will give you a straight answer.
