Has Oil Stopped Reacting to Politics – and Started Steering It?
4 August 2026 Brent and WTI rebounded on Tuesday, clawing back part of Monday’s sharp sell-off, with Brent trading back above $84 a barrel. Traders were left questioning whether the market had priced in a diplomatic breakthrough that, according to Tehran, does not exist. It is the latest lurch in a pattern that has defined the Strait of Hormuz crisis for months: political announcements moving crude by five, six, even seven per cent in a single session, only to reverse within a day. Monday’s decline followed President Trump’s claim that talks with Iran would resume. It unwound within twenty-four hours once Iran’s foreign ministry denied any such negotiations were under way, and a vessel was struck near Hormuz for good measure. The rhythm is now familiar enough that analysts increasingly suspect political messaging is being timed to the market itself, rather than the market simply reacting to political fact. As Kyle Rodda, senior market analyst at capital.com, put it: “Fridays are for fighting but Mondays are for the markets in Trump’s world.” It is a wry line, but it captures something real – the choreography of threat and climbdown looks increasingly calibrated to price, not the reverse. Tehran itself has accused Washington of using announcements to move financial markets rather than negotiate in good faith. Whatever the accusation’s merit, it reinforces the sense that political rhetoric is now tracking the oil price rather than setting it. Layer in OPEC+’s steady supply increases and forecasts from Goldman Sachs and Kotak Securities pointing to a cooling market into 2027, and a fragile picture emerges: crude’s fundamentals argue for lower prices, while its politics argue for volatility. For traders, distributors and buyers across the commodities and chemicals supply chain, the lesson is discipline. Headlines can move price faster than verified cargo data ever will, and a rally built on a denied negotiation is not a rally built to last. At Gapuma, we watch the shipping lanes and the barrels – not just the briefings.
Gapuma’s First Aiders Keep Their Skills Sharp
31 July 2026 Yannick Annor, Assistant Manager – Supply Chain, and Vaibhav Raj Thakkar, Procurement Consultant, have both completed a first aid refresher course with St John Ambulance. Both are also qualified Fire Marshals, adding a further layer of preparedness to the Gapuma team. Yannick reflected on the experience: “Thanks St John Ambulance and the trainer for this excellent first aid refresher course. I first completed the training three years ago, so it was a great opportunity to refresh my knowledge and reinforce the skills I had already learned. While I’m not an expert, this course was a valuable reminder of such an important life skill. I’m grateful for the opportunity to keep my first aid knowledge up to date.” Their refresher follows Jing Zeng’s own qualification as a trained First Aider earlier this month – a reminder that this is not a one-off effort but a standard the whole team is holding itself to. It is a small but telling example of Gapuma’s continuing commitment to the health and safety of its own people, and of the wider community around it – a trained First Aider, after all, may be called upon at any moment, without warning, to help.
Gapuma Welcomes Its Newest First Aider
23 July 2026 Gapuma Group is pleased to confirm that Jing Zheng, Procurement Officer, has qualified as a trained First Aider following an intensive course at the St John Ambulance training centre in Ealing/Hammersmith [wasn’t sure please emend as required]. Jing becomes the latest member of the Gapuma team to take on this responsibility, joining Yannick Annor and Ash Unadkat as one of three designated First Aiders at the company’s West London head office. Yannick returns to the same course next week – in his case, a refresher, to ensure his knowledge stays current. In the video attached, Jing talks through three key things she took from the day’s training. Reflecting afterwards, she had a simple message for colleagues: eat and drink slowly, walk carefully, and stay alert to your surroundings – above all, take responsibility for your own safety. It speaks to something wider than one course or one qualification: Gapuma’s continuing commitment to the health and safety of its people, and of the community around it, since a trained First Aider may be called upon at any moment, without warning, to help. Below she describes her experiences…
Full Time: Gapuma World Cup Sweepstake has its champion
20 July 2026 Weeks of predictions, no small number of upsets and plenty of office bragging rights came down to a photo finish. After a stiff, closely fought competition, Neha put in a dominant display against determined resistance, but held her nerve to push over the line in extra time and defeat Ash for the top prize. Spain’s number one was solid throughout with barely a shot getting past her all tournament. A solid wall of certainty, right to the final whistle. Neha now holds the Gapuma Sweepstake title for the next four years. On current form, she’ll be expected to be lead her nation once again come the next World Cup – when the tournament heads to Spain, Portugal and Morocco, and Neha, fittingly, takes up co-host duties too. Congratulations, Neha – a worthy champion. And to Ash, runner-up by the finest of margins: there’s always the next time, but not for FOUR YEARS.
The Barrel: The last place the story shows up
9 July 2026 When the US–Iran ceasefire collapsed in the Strait of Hormuz this week, the headlines went straight to price. Brent ticked up, then wobbled either way, and most commentary moved on. But for the companies that actually move oil, gas and chemicals through that water, the price is not the problem. The problem is everything sitting underneath it. Hormuz carries roughly a fifth of the world’s seaborne oil and LNG. That makes route reliability a commercial contract in its own right, and it is precisely the thing a trader cannot hedge. You can hedge crude. You cannot hedge a captain who refuses to enter a severe-risk zone, an insurer who rewrites a war-risk exclusion overnight, or a payment rail that quietly narrows while your cargo is still mid-voyage. That last point is the one keeping people up. A US general licence opened a legal corridor for Iranian oil on 21 June. Within roughly a fortnight it was revoked and replaced with a wind-down order. Legal permission, it turns out, is not the same as bankable confidence, and each transaction now carries a lifecycle risk that is far harder to price than the commodity itself. This is why so many commodities businesses are in a genuine tailspin right now. The instinct is to watch the screen. But the screen is a lagging indicator. A vessel that turns back, an insurer that hesitates, a bank that declines a settlement, none of it registers immediately as a shortage. It registers as friction. Friction compounds quietly, and by the time it reaches the price, the decision you needed to make was already late. The firms that come through this well will not be the ones with the best price call. They will be the ones who treated the route, the licence and the counterparty as three separate clocks, and started tracking all three before the market did. Strategy in this environment is not prediction. It is knowing which questions to ask, and asking them early. Gapuma Group | Trading commodities and speciality chemicals across international markets, with a clear read on the ground beneath the price.
Gapuma SRB: From Strength to Strength
30 June 2026 As Serbia’s harvest season gets under way, our Serbian subsidiary, Gapuma SRB, is in the thick of one of its busiest periods of the year. Led by Managing Director Aron Mohacsi, the team in Žabalj, Vojvodina, continues to build on its grain trading and fertiliser distribution operations, serving the agricultural heartland of one of Europe’s most fertile regions. Beyond the fields, Gapuma SRB has also been deepening its ties with the UK’s diplomatic mission in Belgrade. We were honoured to sponsor His Majesty The King’s Birthday celebrations earlier this month, attending at the personal invitation of the British Ambassador, His Excellency Edward Ferguson – a reflection of the strong and growing relationship between Gapuma and the United Kingdom in Serbia. And there is more to come. The Serbia edition of the Gapuma Globe is published tomorrow, with an in-depth look at the country, its economy, and the people driving our work there. From the harvest to the diplomatic stage, Gapuma SRB goes from strength to strength.
Gapuma Invests in Tri-Chem Trading: Backing Momentum in African Chemical Distribution
Some partnerships are about scale. The best ones are about momentum 26 June 2026 Today we’re delighted to announce that Gapuma Group has acquired an equity stake in Tri-Chem Trading (Pty) Ltd, a fast-growing South African importer, exporter, trader and distributor of commodity and specialty chemicals serving South Africa and the wider African market. Tri-Chem’s founding leadership stays at the helm, bringing 35 years of combined industry experience, established supplier networks and a hard-won reputation for commercial excellence across mining, coatings, industrial, water treatment, manufacturing and agriculture. Our role is simple: not to change what already works, but to add the sourcing depth, supply chain infrastructure and financial backing that let the team grow faster and serve customers better. It’s exactly the kind of partnership we look for on the African continent. The timing is fitting. We’re announcing as both teams came together at Coatings for Africa (24–26 June) in Sandton, Johannesburg, with a shared ambition to bring greater value and opportunity to clients across the region. Welcome to the journey, Tri-Chem. There’s real energy in this one. Full announcement and joint statement attached here.
A Toast to UK–Serbia Friendship: Gapuma at the King’s Birthday Party in Belgrade
19 June 2026 Gapuma Group is proud to have sponsored the King’s Birthday Party hosted by the British Embassy in Belgrade – a splendid garden reception bringing together figures from across government, business and the diplomatic community to celebrate the warm and enduring friendship between the United Kingdom and Serbia. It was a privilege to support the evening alongside a distinguished group of fellow sponsors, among them AstraZeneca, Range Rover, Chivas Regal, Frikom, Harrisons, Menzies Aviation and Delta DMD, the leading Serbian distributor of fast-moving consumer goods. Good company, in every sense. The evening offered a welcome reminder that trade and diplomacy move in step. Serbia continues to position itself as a dynamic hub at the crossroads of Central and South-Eastern Europe, and the United Kingdom remains a natural partner in that ambition – in commerce, in investment and in the exchange of ideas that underpins any lasting relationship between two nations. As a commodities trading company with a genuinely international footprint, Gapuma has long understood that strong bilateral ties are not an abstraction. They are built reception by reception, conversation by conversation, and partnership by partnership. Jack Bardakjian, Group Managing Director of Gapuma Group, said: “Gapuma takes great pride in being associated with the promotion and strengthening of bilateral ties between the United Kingdom and Serbia. Relationships of this kind open doors – for business, for communities and for the next generation of partnerships – and we are delighted to lend our support to an occasion that celebrates everything the two countries can achieve together.” Our thanks go to His Majesty’s Ambassador, Edward Ferguson, and the embassy team for their warm hospitality, and to everyone who joined us in raising a glass to a partnership with a long future ahead. See a video of the festivities here
Gapuma at Chevron Oronite’s 2026 Distributors Seminar
Among the few: Gapuma at Chevron Oronite’s 2026 Distributors Seminar 18 June 2026 GLB Chemical Services Limited, Gapuma Group’s Nigerian subsidiary, was represented at the 2026 Sales Representatives and Distributors Seminar at Chevron Oronite in Paris earlier this month. Prakash Ramchandani, Managing Director of GLB, and Thompson Longe attended on Gapuma’s behalf. The seminar brought together Chevron Oronite’s distribution network for three days of technical exchange and strategic dialogue. For GLB, appointed Chevron Oronite’s authorised distributor in Nigeria in 2020, these gatherings remain central to a partnership now in its sixth year, one strengthened further in 2025 with Gapuma’s selection as Chevron’s Group II base oils distributor in the Nigerian market. The programme also included a visit to Chevron Oronite’s plant at Le Havre, where a newly constructed, fully automated warehouse has been brought into operation. The facility holds up to 8,200 pallets, a clear signal of the scale and sophistication underpinning Oronite’s European supply chain. Our thanks to the Chevron Oronite team in Paris and Le Havre, among them Eric De Goustine and Daren Barnes, for their hospitality and for another valuable opportunity to deepen a relationship built on technical excellence and shared commitment to the Nigerian market.
Gapuma breaks into the world’s Top 100 chemical distributors
17 June 2026 Gapuma Group has been named among the world’s leading chemical distributors in the 2026 ICIS Top 100. Published by ICIS (Independent Commodity Intelligence Services), the Top 100 Chemical Distributors is the definitive global ranking of the sector, now in its 17th year. This year’s edition, compiled in association with Fecc, the European Association of Chemical Distributors, ranks the firms that keep the world’s chemical supply chains moving, broken down by region from Europe to the Middle East, Africa and Asia Pacific. Jack Bardakjian, Founder and CEO of Gapuma Group, said: “To enter this ranking for the first time would have been a milestone in itself, a tribute to everyone who has helped build this company. To do so at 36th in the world, 20th in Europe and 1st in the United Kingdom, on sales of $787.5m, is a moment of real pride. This recognition belongs to the people who earn that trust each day, and to the partners who place their confidence in us. It is a proud first, and it will not be our last.” A debut on this list is not a small thing. It places Gapuma alongside names that define the industry: Brenntag, Tricon Energy, Univar Solutions, IMCD, Nagase, Azelis, Omya and Helm, to name only a few. It is rare company, and we are proud to have earned our place in it. That place reflects how Gapuma has grown: across West Africa, Europe, the Middle East and beyond, built on dependable supply, deep market knowledge and a genuinely global reach. ICIS describes this year’s cohort as the resilient backbone of the chemical industry, the partners producers and customers turn to first. Our thanks to ICIS, and to the customers, suppliers and colleagues who brought us here. The best is still ahead.
Gapuma Returns to Coatings For Africa 2026
9th June 2026 Hot on the heels of our success at Coatings For Africa 2024, Gapuma will once again be exhibiting at the Sandton Convention Centre, Johannesburg, from 24-26 June 2026. Leading the delegation will be Group Managing Director Jack Baradjkian, alongside Gary Hayes, Dave Steward and many colleagues from our South Africa office. Want to guarantee time with the team? Contact our colleague Caitlin Hayes in advance to secure your slot: caitlin@gapuma.com 📍 Sandton Convention Centre, Johannesburg 📅 24-26 June 2026 We look forward to connecting, catching up and showing you what we’ve been working on.
Gapuma Ghana Limited at WAMPEX 2026
8 June 2026 Last week we joined West Africa’s mining and power community in Accra for WAMPEX 2026, and we did so in force. WAMPEX – the West African Mining & Power Exhibition – is the region’s largest and longest-running event of its kind, running for over three decades. This year’s 19th edition, held from 3 to 5 June at the La Palm Royal Beach Hotel, brought together more than 6,000 mining professionals and over 250 exhibitors from 20 countries, all under the theme: “How Can Responsible Mining and Power Accelerate West Africa’s Sustainable Development?” It matters because West Africa is now central to the global mineral conversation – gold, bauxite, iron ore, manganese and lithium among them – and WAMPEX compresses months of sourcing, supplier discovery and high-level networking into three focused days. For a supply and trading partner like Gapuma, that is the room to be in. We were proud to send a strong delegation from across the Gapuma Group, including: Kishor Ubrani – Managing Director, Gapuma Ghana Limited Shiko Ghosh – CEO, Gapuma Ghana Limited Viveck Dutt Obert Chukwature Dheeren Panjwani Raj Thakkar – Procurement Consultant, Gapuma Group Ash Unadkat – Quality Manager, Gapuma Group Thank you to the organisers, the Ghana Chamber of Mines and everyone who stopped by our stand. Here’s to the partnerships that move the sector forward.