Launch of High-Grade Iron Ore VIU Indices for Silica, Alumina Content, Cfr Qingdao: Pricing Notice
Fastmarkets has launched two new high‑grade iron ore Value‑In‑Use (VIU) indices for silica and alumina content, priced cfr Qingdao. The indices, MB‑IRO‑0194 (silica) and MB‑IRO‑0195 (alumina), apply to cargoes with ≥65% Fe and silica 0.5‑8.5% or alumina 0.01‑1.5%, using regression analysis of Fastmarkets’ existing high‑grade pricing suite. They extend the firm’s coverage beyond mid‑grade VIUs, responding to user demand for more granular pricing references. Detailed methodology is published in Fastmarkets’ Iron Ore Methodology guide.
A Closed Strait of Hormuz Was Once Unthinkable
Energy planners have historically dismissed a full closure of the Strait of Hormuz as implausible, a view reflected in 2007 and 2022 scenario exercises that omitted the extreme event. Recent disruptions, however, have forced executives like TotalEnergies CEO Patrick Pouyanné...
Asian Buyers Offer Big Premium for Diesel-Rich Crude From UAE
Asian refiners are offering roughly $20 a barrel above ADNOC’s official selling price to secure Upper Zakum crude, a diesel‑rich grade from the UAE. The premium reflects heightened demand for medium‑sour crudes after the Iran‑related conflict disrupted traditional supply routes....
Gulf LNG Export Woes Push Gas Prices up but Diversification Becomes Europe’s Energy Lifeline
The Middle East conflict halted roughly 80 mtpa of Gulf LNG exports, creating a supply shock that could have driven European gas prices sky‑high. Instead, Europe’s diversified fuel mix—new 40 mtpa of LNG capacity, over‑60% renewable penetration in Spain, and expanding battery...
Oil Prices Edge Down While Stock Futures Inch Up
Oil prices slipped modestly on Sunday as investors weighed ongoing U.S.-Iran diplomatic uncertainty. President Trump said he was reviewing Iran’s peace proposal but expressed doubt it would be acceptable. He also hinted the United States would use “best efforts” to...
India Is Burning More Coal as Extreme Heat and the Iran War Squeeze Energy Supplies
India’s coal‑fired power output rose to an average 164.9 GW in April, a 3.5% increase over last year, as extreme heat and the Iran‑related LNG supply squeeze pushed gas plants out of the merit pool. Higher LNG prices and disrupted petcoke...
The Weekly Finger: Resource Wars and the Tungsten Trap
The upcoming RIU Sydney Resources Round‑up will zero in on two emerging bottlenecks—fuel security and a tightening global sulphur supply—while the Tungsten ’26 webinar highlights China’s 80% grip on tungsten and NATO’s surge in defence stockpiling. James warns that the...
Closure of the Strait of Hormuz Continues to Impact Energy Prices
The ongoing closure of the Strait of Hormuz, compounded by the US‑Israel‑Iran conflict, is keeping oil prices volatile near US $100 per barrel. Coal prices have followed, trading in a US $100‑110 band, while 6.5 % sulfur petcoke has risen to US $106 per...
Malaysia’s Fuel Supply Secure but Finances Continue to Be Strained to Keep Budi95 at RM1.99 a Litre – Anwar
Malaysian Prime Minister Datuk Seri Anwar Ibrahim said the nation’s fuel supply remains secure, allowing the government to keep RON95 petrol priced at RM1.99 per litre (about $0.44). Rising global oil prices, driven by West Asian conflict‑related shipping and insurance...
Asean Shares Crude Oil Supply Concerns with Japan, China, South Korea
Finance ministers and central bank governors from ASEAN, Japan, China and South Korea warned that the Middle‑East conflict is amplifying downside risks to regional oil supplies, especially after Iran effectively closed the Strait of Hormuz. The group, meeting on the...
Oil Prices Subdued After Trump Says US Plans to Help Stranded Ships Cross Strait of Hormuz
U.S. President Donald Trump unveiled "Project Freedom," a plan to escort stranded vessels through the Strait of Hormuz, a chokepoint that handles roughly 20% of global oil flow. Brent futures hovered near $108 per barrel and WTI around $101.65 as...
Daily Market Wire 4 May 2026
Wheat markets remained flat as rain in Colorado and western Kansas failed to relieve dryness concerns; Chicago July and Kansas City July contracts each edged up 1 cent while Minneapolis slipped 1.75 cents. Corn rallied, with the December contract gaining...
Price Tracker: Oil, Fuel Monitor for May 4
The Philippine Energy Department’s May 4 price tracker shows Manila’s fuel market shifting from late‑April rollbacks to renewed price hikes. Early‑May estimates forecast diesel up ₱1‑₱3 per litre (about $0.02‑$0.05) and gasoline up ₱1‑₱2 per litre (about $0.02‑$0.04) as the peso...
The Threat to Summer Holidays Looming From Jet Fuel Shortages
Jet fuel prices have more than doubled since February, climbing to over $1,500 per tonne after the Strait of Hormuz blockage disrupted Gulf exports. European airlines, especially in the UK where 65% of fuel is imported and only four refineries...
Quantifying the Impact of the Iran War on US Inflation
The authors combine a calibrated DSGE model of the global oil market with a monthly structural VAR to estimate how the 2026 Iran war’s oil‑supply shock could affect U.S. inflation. A 15 % shortfall lasting one quarter pushes WTI crude to...
The Clock Is Ticking as Oil Markets Barrel Toward Nightmare Scenarios with the West Bracing for ‘Tank Bottoms’ and Iran...
The West and Iran face opposite oil emergencies as the Strait of Hormuz stays closed, threatening “tank bottoms” for consuming nations and “tank tops” for Iran. Analysts warn OECD crude inventories could hit operational minimums by late May, while Iran...
Govt Says Auto Fuel Shortage Rumour Led to Panic Buys, Assures Stocks Adequate
The Indian government dismissed circulating rumors of a petrol and diesel shortage, confirming that all retail outlets have sufficient stocks and prices remain unchanged. It clarified that while commercial LPG prices rose sharply—about ₹1,000 ($12) per cylinder—the supply of domestic...
Global Aluminium Market Shaken but Resilient Amid Middle East Conflict
The ongoing Strait of Hormuz conflict has disrupted the global aluminium market, cutting off roughly 7% of supply and damaging about 3% of worldwide production capacity. Prices have surged to near‑historic levels, averaging $3,400 per tonne and are expected to...
Weakening Peso
The Bangko Sentral ng Pilipinas lifted its benchmark rate by 25 basis points to 4.5% as oil prices surged past $120 per barrel amid a renewed Hormuz blockade. The central bank aims to curb second‑round inflation and stabilize a peso...
Slowdown in Shipping Cargo Adds Pressure to Food Prices
The Philippines saw domestic cargo volumes drop 3% to 27.47 MMT in Q1 2026, while total port throughput rose modestly to 66.96 MMT. Shipcalls fell 1% for local vessels but foreign arrivals grew 6%, reflecting higher fuel costs that prompted shippers to...
US Is Oil Supplier of Last Resort as Hormuz Disruptions Worsen
The United States has become the world’s leading crude exporter, shipping more than 250 million barrels in the past nine weeks and overtaking Saudi Arabia as Hormuz disruptions choke Middle‑Eastern supplies. Domestic oil and fuel inventories have fallen for four consecutive...
OPEC Members Increase Oil Production Quota by 188,000 Bpd, No Word on UAE's Withdrawal Amid War in West Asia
Saudi Arabia, Russia and five other OPEC members announced a 188,000 barrel‑per‑day increase to the June production quota, effectively filling the gap left by the United Arab Emirates’ sudden withdrawal from the cartel. The boost mirrors similar adjustments made in...
Lynas Rare Earths CEO Amanda Lacaze on Having the Guts to Invest During a Price Slump
Lynas Rare Earths has locked in a $110 per kilogram price floor for its neodymium‑praseodymium alloy with the U.S. Department of Defense and secured a $258 million U.S. commitment for a heavy‑rare‑earth refinery in Texas. The company also signed a 10‑year...
Gold Notches Second Weekly Loss as US-Iran Talks Hang in Limbo
Gold steadied but posted a second consecutive weekly decline as traders weighed the stalled US‑Iran negotiations. Spot gold slipped 0.1% to $4,614 per ounce, extending a 14% loss since the conflict began in late February. A stronger dollar added pressure,...
A New MIT-Backed Tool Shows Exactly Why Your Electricity Bill Is Going up in Your Neighborhood — You Should Be...
Researchers at MIT and Heatmap News launched the Electricity Price Hub, a neighborhood‑level tool that visualizes how residential electricity rates and bills are evolving across the United States. Over the past five years, average rates have risen about 33%, adding...
IRGC Just Outdid Khamenei? Forces Kuwait to Halt All Crude Exports for the First Time in 35 Years?
On April 2026, Kuwait ceased all crude oil shipments, marking the first full export halt since the Gulf War. TankerTrackers confirmed zero outbound cargo, attributing the stoppage to heightened security risks in the Strait of Hormuz amid escalating U.S.-Iran tensions....
U.S. Crude Oil Exports Surge to Record as Tankers Flock to Gulf Coast During Iran War
U.S. crude oil exports surged to a record 5.2 million barrels per day in April, driven by Asian and other buyers seeking alternatives after Iran’s blockade of the Strait of Hormuz. The Gulf Coast, especially the Port of Corpus Christi, saw unprecedented...
80% of Africa’s Fertiliser Is Imported: How Food Systems Can Adapt to the Iran Shock
The Iran‑Gulf conflict has sharply reduced urea exports, with Strait of Hormuz traffic down 95%, disrupting the global fertilizer supply chain. Sub‑Saharan Africa, which imports roughly 80% of its fertilizer from Gulf states, faces soaring prices and potential shortages. Past...
FY27 Earnings Growth May Drop to 10%: Jitendra Sriram on the Impact of Sustained $100 Oil
Jitendra Sriram of Baroda BNP Paribas warns that FY27 earnings growth in India could slow to 10‑12% as sustained $100 crude prices strain corporate margins and consumer spending. The two‑month West Asia conflict has already pushed the rupee to the...
The Hormuz Blockade: Why a Fragile Ceasefire May Not Lower Global Oil Prices
Brent crude surged to $125 a barrel, the highest level since March 2022, as naval blockades in the Strait of Hormuz curtailed roughly one‑fifth of global oil flows. Iran’s conditional reopening and U.S. naval actions have left tankers stranded and insurers...
Commercial LPG Price Hike, Supply Crunch Push Restaurants to Brink
Nagpur’s restaurants are confronting a severe cost squeeze after the official price of a 19‑kg commercial LPG cylinder rose to ₹3,248 (≈$39), up from ₹2,059 (≈$25) just weeks earlier. The hike, combined with an ongoing supply crunch and black‑market rates...
Expert Raises Concern over Disruptions to Naphtha Supply
Academic Pakorn Opaprakasit warned that the ongoing Middle East conflict threatens naphtha imports, a critical feedstock for Thailand's plastic pellet production. He estimates pellet prices could jump 30‑40% and downstream packaging costs 60‑70%. The expert urged the Thai government to...
Saudi Arabia Set For Oil Windfall After Hormuz Boosts Prices
The blockade of the Strait of Hormuz has split Gulf oil exporters, giving Saudi Arabia and Oman a revenue boost while the UAE sees a sharp decline. Saudi rerouted 4 million barrels daily to the Red Sea, lifting weekly oil revenue...
Russia’s Oil Revenues Surge as the World Scrambles for Supply
Asian buyers are snapping up discounted Russian crude as global supply tightens, driving a sharp rise in Moscow’s oil revenues. China imported a record over 100 million tonnes in 2024, while India’s imports doubled to about 2.25 million barrels per day in...
Gas Prices Are Surging Fastest in 5 States that Backed Trump — and Consumer Sentiment Hit an All-Time Low
Gas prices in the United States have surged above $4 per gallon, the highest level since July 2022, as crude oil climbs past $100 a barrel amid the Iran conflict. The five Midwestern states that supported Donald Trump in 2024—Indiana, Michigan,...
Impact of UAE’s Exit From OPEC
The United Arab Emirates has formally exited OPEC, giving the world’s third‑largest oil exporter freedom to set its own production levels. By pledging a gradual increase in output, the UAE could add modest supply that eases price pressures in the...
Crude Surge Is a Price Shock, Not Supply Shock for India: CEA Nageswaran
Chief Economic Advisor V Anantha Nageswaran told the ICPP Growth Conference that the recent surge in crude‑oil prices is a price shock, not a supply disruption for India. He outlined four transmission channels – higher oil‑price inputs, trade slowdown, sticky logistics costs,...
Wirth Warns Global Energy System Under 'Extreme Stress'
Chevron CEO Mike Wirth told CNBC that the ongoing U.S.–Israel conflict with Iran is pushing the global energy system to "extreme stress." He warned that a prolonged closure of the Strait of Hormuz—through which roughly 20% of the world’s oil...
World Bank Warning as Energy Prices Set to Soar
The World Bank’s latest Commodity Markets Outlook warns that global energy prices will jump 24% in 2026, reaching the highest levels since the Russian invasion of Ukraine. Brent crude is projected to average $86 a barrel in 2026, up from...
Oil Marketing Companies Seek LPG, Petrol, Diesel Price Hike as Iran War Deepens Losses
India’s state‑run oil marketing companies are pressing the government to lift retail fuel prices as crude oil spikes above $126 per barrel amid heightened Middle East tensions. Crude prices surged after the U.S. signaled a continued naval blockade of Iran,...
CPC to Keep Gasoline, Diesel Prices Unchanged Next Week
CPC Corp. announced that Taiwan’s recommended retail prices for gasoline and diesel will remain unchanged from May 3 to May 10, marking the fifth straight week of price stability. The freeze holds 92‑octane gasoline at NT$32.4 per liter (US$1.02) and premium diesel...
Oil Prices Fall as Iran Proposes New US Talks
Oil prices slipped on Friday after Iran signaled a willingness to restart talks with the United States via Pakistan, briefly pushing WTI below $100 a barrel. The dip was short‑lived, with WTI rebounding to $101.7 and Brent to $108.4 as...
Gold Consolidates in $4,600-$4,800 Range for Almost 2 Months. A Big Rally Brewing in May?
Gold has been confined to a tight $4,600‑$4,800 per ounce band since mid‑March, despite heightened Iran‑related geopolitical risk and strong central‑bank buying. Elevated U.S. Treasury yields, a firm dollar and expectations of prolonged higher rates are suppressing upside, while technicals...
Lifts in Steer and Heifer Values in Smaller 16,219 Head AuctionsPlus Offering
AuctionsPlus reported a 28% smaller offering of 16,219 head, yet clearance surged to 81%, up 19 points week‑over‑week. Steer and heifer categories posted double‑digit price gains, with lighter steers rising 41c to 511c/kg and heifers climbing 66c to 435c/kg. Northern...
Underestimate at Your Peril — Hormuz Chokes Tropical Hardwood Supply
The February 28 closure of the Strait of Hormuz has triggered a severe diesel shortage in Malaysia and Indonesia, pushing industrial diesel prices up 140% and crippling the region’s tropical hardwood supply chain. Logging concessions, log carriers and sawmills are...
‘Trump Is an Idiot’: Californians Fume over Soaring Petrol Prices
Petrol prices in California have surged to $130 per tank, about $30 more since the United States and Israel began bombing Iran. The conflict, which started on Feb 28, has disrupted oil flow through the Strait of Hormuz, pushing gasoline to...
Fuel Spike Is Coming: Relief at Bowser Not Tipped to Last
Australia’s regional oil benchmark Tapis crude surged to US$125 a barrel, the highest level since the 2022 Ukraine war, prompting expectations of higher pump prices. After a brief two‑week respite following a US‑Iran cease‑fire, fuel prices are set to climb...
Durian Express? New Southeast Asia Rail Service Cuts Fruit Prices in China
A new cold‑storage rail line linking Thailand, Laos and Yunnan province in China now moves durians at scale, reducing transit time from weeks to under two days. Operated by a joint venture of regional rail operators, the service lowers logistics...
US LNG Exports to Asia Surged in April as Middle East Conflict Curtailed Supply
U.S. liquefied natural gas (LNG) exports to Asia surged in April, with shipments climbing to 2.71 million tonnes—up 175% from February—after Middle‑East supply was disrupted by the Iran conflict. Asian spot LNG prices stayed high, averaging $17.92 per MMBtu, roughly 17%...
Oil Falls on Hopes for US-Iran Negotiations, Hormuz Progress
Oil slipped to around $102 per barrel on Friday as US‑Iran peace talks remain tenuous, even though West Texas Intermediate posted an 8% weekly gain. Traders trimmed risk amid thin volumes and global market holidays, while the ongoing de‑facto closure...