Commodity markets are facing renewed volatility. Whether it is the rise of a grey market for sanctioned oil exports, economic surprises or disruption of flows through key chokepoints like the Suez and Panama Canals and the Bab al-Mandeb, the physical flow of oil, LNG and minerals is in state of continuing instability. How are these challenges met by the organizations responsible for facilitating these flows, for the governments attempting to regulate them, the markets attempting to price underlying commodities and importers seeking stability and security of supply.