Worldwide supply chain pressures are rising: The Global Supply Chain Pressure Index is up to 1.8 points, the highest since July 2022. This index measures how difficult it is for companies to move goods around the world, with positive readings signaling worsening disruptions. The index jumped +1.1 points in April, marking the biggest monthly increase since March 2020. This surge was driven by the Iran War, amid the closure of the Strait of Hormuz. The longer these disruptions persist, the worse delivery delays and price pressures across the global economy will become. Global trade is facing a historic disruption.