On 23 October 2026, Brent crude traded near $114 a barrel, up about 1% on the day and more than 7% over the past month.
The key news: Houthi attacks on Saudi Arabia’s Red Sea port of Yanbu and nearby energy sites pushed oil to a five-month high this week. War-risk insurance for Saudi-linked tankers has already risen to about 3% of vessel value, from below 1% in July, and up to 7% at some southern ports.
What it means for Lord-Wood.com buyers: for timber, the wood itself is cheap right now, with lumber futures near $521 per thousand board feet. The bigger moving part is the journey: bunker fuel, insurance and route choice into Gulf ports.
Example (illustrative): a container of about 25 thousand board feet carries roughly $13,040 of timber at today’s futures price. If freight, fuel surcharges and insurance add an illustrative $1,500 more than in summer, that is over 11% on top of the wood cost.
Advice for partners: ask for quotes that separate the wood price from freight and surcharges, confirm the routing, and check whether your insurance cover includes war-risk clauses.
The honest caution: shipping costs can change week to week with security news. Quotes may need short validity periods, and no route is risk-free.
Lord-Wood — timber supply with clear landed costs.
