Jet Prices Dip Slightly on Hopes Hormuz Traffic Will Resume Soon
Jet fuel prices slipped modestly as optimism grew that a U.S.-Iran cease‑fire could lead to the reopening of the Strait of Hormuz. European jet‑fuel benchmarks have fallen about 16% from their recent peak but remain roughly 90% above pre‑war levels. Around 375,000 barrels per day of Gulf jet fuel are still missing, reflecting ongoing refinery outages. Even if the strait reopens soon, Asia‑Pacific refineries may need months to restore full jet‑fuel flows from Middle‑East crude.
Cooking Gas Prices Surge by Sh390 in Nairobi
Cooking gas (LPG) prices in Nairobi jumped up to Sh 390 ($3.6) per 13‑kg cylinder as the Middle East conflict drove global propane and butane costs higher. Rubis Energie Kenya now charges Sh 3,530 ($32.5) and TotalEnergies Marketing Kenya Sh 3,510 ($32.4), roughly a 12%...
Pre-Markets Very Happy About Middle East Developments
A cease‑fire between Israel and Lebanon has reopened the Strait of Hormuz, sending oil prices down about 8% and lifting pre‑market futures sharply—+540 points on the Dow, +54 on the S&P 500, +230 on the Nasdaq, and +36 on the Russell 2000....
Lactalis Warns of Dairy Price Increases Linked to Middle East Conflict
Lactalis reported 2025 revenue of €31.2 bn ($36.8 bn) and net income of €528 m ($623 m), lifting its profit margin to 1.7%. The French dairy giant warned that the ongoing Middle East conflict could force price increases as transport, energy and packaging costs...
What’s Next for US and Mexico Aluminium? Key Insights From Fastmarkets’ Market Outlook Webinar
Fastmarkets’ webinar highlighted that Middle East supply shocks and U.S. Section 232 tariff changes are tightening aluminium markets across the United States and Mexico. Billet and primary foundry alloy (PFA) premiums have surged, while scrap aluminium is gaining prominence as a...
Why Diesel Prices Surge Faster Than Gasoline in Every Energy Crisis
Diesel prices rise faster than gasoline during energy crises because the diesel market is structurally tighter, with lower inventories and limited refinery flexibility. Since the Iran conflict began, diesel has climbed $1.75 per gallon versus $1.11 for gasoline. The fuel’s...
EIA Raises USA Fuel Price Projections for 2026, 2027
The U.S. Energy Information Administration raised its short‑term outlook for gasoline and diesel in 2026‑27. It now projects average regular‑gasoline retail prices of $3.70 per gallon in 2026 and $3.46 in 2027, up from $3.34 and $3.18 in the March...
California Natural Gas Prices Collapse to Historic Lows Amid ‘Perfect Storm’ of Oversupply
California’s PG&E Citygate natural gas cash price plunged to a historic $1.165 per MMBtu, the lowest level in 25 years, as a three‑basin supply glut erased the premium built earlier in the year. The Henry Hub winter 2026/27 strip fell...
Biden Record Intact. The Energy Report 04/17/2026
U.S. gasoline prices slipped 1.7 cents to $4.09 per gallon, yet remain 90.9 cents higher than a year ago as geopolitical tensions ease. A truce between Israel and Lebanon and a U.S. blockade of the Strait of Hormuz have reduced...
10 Things in Focus at CESCO Week 2026 as Sulfuric Acid Upends the Copper Market
CESCO Week 2026 highlighted a perfect storm for copper as China announced a sulfuric acid export ban effective May 1, driving acid prices toward $400 per tonne. Treatment and refining charges for copper concentrates surged past $100 per tonne, with the...
US Power Purchase Agreements Reach Record Prices: LevelTen
North American renewable power purchase agreements hit record highs in Q1 2026, with wind contracts averaging $79.40 per megawatt‑hour and solar at $64.49. Prices have risen 13% for solar and 24% for wind compared with a year ago, driven primarily by...
US Diesel Traders Turn to Rail as War Scrambles Fuel Flows
In March, U.S. diesel traders dramatically increased rail shipments, delivering 9,112 railcars to terminals—a near‑10% rise year‑over‑year. The surge follows the Iran‑Israel war that has effectively closed the Strait of Hormuz, tightening global crude supplies and prompting Midwest refiners to...
U.S. Natural Gas Exports Surge as LNG Buildout, Mexico Pipeline Demand Grow
U.S. natural gas exports are projected to reach 20.5 billion cubic feet per day by 2027, driven primarily by new liquefied natural gas (LNG) capacity coming online. Pipeline shipments to Mexico are also rising as the neighboring country’s power sector increasingly...
End of Open Consultation on Fastmarkets’ Ferrous Methodology
Fastmarkets concluded its open consultation on the ferrous metals pricing methodology on April 2, 2024. The agency sought industry input to ensure its price specifications and publication frequency meet IOSCO principles for price reporting agencies. No feedback was received during the...
UK Petrol and Diesel Prices Fall After Weeks of Rises
UK petrol and diesel prices slipped for the first time since the US‑Israel war began, with diesel down 0.6 pence and petrol down 0.3 pence per litre. Pump rates now sit just under 191 pence (£1.91, ≈$2.43) for diesel and 158 pence (£1.58, ≈$2.01)...
UK Petrol and Diesel Prices Fall After Weeks of Rises
UK petrol and diesel prices slipped for the first time since the US‑Israel war began, with diesel down 0.6 p per litre and petrol down 0.3 p. Prices now sit just below 191 p (£1.91, about $2.39) per litre for diesel and 158 p...
Halt on Moroccan Tomato Exports More Nuanced According to APEFEL and FIFEL
Moroccan fruit and vegetable exporters APEFEL and FIFEL say there is no formal ban on tomato shipments, only a temporary freeze for certain fresh and processed segments to ease local shortages. Domestic tomato prices have spiked to roughly $0.38 per...
Asian Airlines Face ‘Major Headwind’ From Jet Fuel Costs, Forcing Flight Changes
The Iran war has driven jet‑fuel prices in Asia to near‑record levels, pushing the cost share of fuel from about 25% to 45% of airline operating expenses. Carriers such as Asiana, Air Premia, Cathay Pacific and HK Express have slashed...
Red Sea Ports Now Central to Middle East Sulphur Supply
The closure of the Strait of Hormuz has forced Middle East sulfur exporters to reroute cargoes through Saudi Arabia's Red Sea ports of Yanbu, Rabigh and Jizan. Vessel tracking shows multiple shipments loading from these ports, with about 15 vessels...
Launch of Cold-Rolled Grain Oriented Electrical Steel, Ex-Whs Eastern China Price Assessment: Pricing Notice
Fastmarkets has launched a new price assessment for cold‑rolled grain‑oriented (CRGO) electrical steel ex‑warehouse Shanghai, following a one‑month consultation that ran from March 5 to April 4, 2026. The assessment, listed under MB‑STE‑0952, covers B23R085 and 23QG085 grades, 0.23 mm thickness, with a 10‑tonne...
The Supply Gap No One’s Talking About Is Repricing Copper Developers
ING projects a 600,000‑tonne refined copper deficit by 2026 as ore grades have fallen 40% since 1991 and new mines take an average 17 years to reach production. Tight inventories and rising demand from AI infrastructure and grid expansion are...
Maize Prices Crash Below MSP in Telangana; Farmers Want State Govt to Procure Produce
Maize prices in Telangana have fallen to ₹1,600‑₹1,800 per quintal, well under the government‑set minimum support price (MSP) of ₹2,400. Farmers allege a loss of roughly ₹641 per quintal and are demanding that the state open procurement centres to buy...
Middle East Fuel Shock Squeezes NZ’s Log Trade — ANZ Report
ANZ’s latest Agri Focus report warns that the Middle East conflict has driven diesel prices in New Zealand up about 80% to NZ$2.34 per litre (≈$1.40 USD), pushing shipping rates to China up 36% in just four weeks. The surge in fuel...
Gold Digger: Silver Faces Sixth Annual Deficit as Market Moves Into ‘Era of Reduced Stocks’
The World Silver Survey projects a sixth consecutive deficit for silver in 2026, expanding to 46.3 million ounces as both supply and demand are expected to fall 2%. Physical stocks are thin, and a surge in exchange‑traded product (ETP) demand...
Basic Fuel Price Formula in Focus Amid Dramatic Shift in South Africa’s Supply Sources
South Africa’s Department of Mineral and Petroleum is overhauling its Basic Fuel Price (BFP) formula for diesel as the country pivots from Gulf‑origin imports to new suppliers in the Atlantic Basin, including Brazil, Mexico and the United States. The shift...
Australian Merino Wool Prices Surge Despite Bale Increase
Australian Merino wool prices surged for a second consecutive auction series despite a larger bale offering of 44,765 bales and a stronger Australian dollar. The Eastern Market Indicator (EMI) rose 24 cents on day one and closed the week 39...
Major Refinery Fire Won't Lead to Fuel Rationing, Australian PM Says
A fire at Viva's Corio refinery near Geelong burned for 13 hours, slashing output at one of Australia’s two major refineries. The blaze cut diesel production to about 80% and petrol to 60% of normal capacity, but Prime Minister Anthony...
Gold Heads for Fourth Weekly Gain on Optimism for US-Iran Truce
Gold is on track for a fourth consecutive weekly gain, hovering near $4,795 an ounce after a 1% rise this week. President Donald Trump expressed optimism that the United States and Iran could seal a permanent cease‑fire, easing the geopolitical...
Trump Officials Urge U.S. Oil Industry to Increase Production Amid Supply Shock
U.S. Interior Secretary Doug Burgum and Energy Secretary Chris Wright urged major oil producers to raise output as the Iran‑linked closure of the Strait of Hormuz removed an estimated 16 million barrels per day from global supply. The administration framed the...
Cocoa Demand Recovery Bumpy as Europe Grinds Drop to 17-Year Low
Cocoa demand recovery is uneven as European grindings fell 7.8% YoY in Q1 2026, the lowest level since 2009. The slump pushed the most‑active New York cocoa contract down more than 70% from its 2024 record high, prompting manufacturers to reformulate...
How Much of California’s High Gas Prices Related to War in Iran?
California’s gasoline prices have surged to some of the nation’s highest levels, driven in part by the war in Iran that has tightened global crude supplies. Analysts estimate the conflict adds roughly 10‑15 cents per gallon to the baseline price....
Will ‘Product of the USA’ Give Cattle Ranchers a Boost?
On National Agriculture Day, USDA announced a revamped “Product of the USA” label that now requires meat, poultry and egg products to be raised, slaughtered and processed in the United States. The change comes as U.S. cattle herds hit a...
US Crude Net Imports Hit Record Low on Export Surge
U.S. crude oil net imports plunged to a historic 66,000 barrels per day in the week ending April 10, the lowest level recorded since weekly data began in 2001. At the same time, exports surged to 5.23 million barrels per day,...
Gold Jumps to One-Month High as Iran Says Hormuz Completely Open
Gold surged to its highest level in nearly a month, climbing as much as 2.1% after Iran announced the Strait of Hormuz is completely open for commercial traffic. The declaration marks a de‑escalation in the conflict with the United States...
Fertiliser Supply Set to Last Until May
Thailand's Commerce Minister says the nation’s fertiliser inventory will sustain the market until May, with no producers currently seeking price hikes. The government is actively courting new sources, including the Middle East and Russia, after earlier imports from Malaysia and...
Rubidium: This Critical Mineral Goes for a Million Bucks a Tonne and Washington May Be Footing the Bill
Rubidium, a critical mineral priced above $1 million per tonne, is dominated by China and essential for atomic clocks, GPS, quantum computing, and defense applications. US military contractors are seeking secure supply, prompting Australian juniors Delta Lithium, Iris Metals and Everest...
End of Open Consultation on Methodology for Saudi Arabia Domestic Steel Scrap Index
Fastmarkets closed its open consultation on the methodology for its Saudi Arabia domestic steel scrap index (MB-STE-0939) on April 8, 2026, after receiving no feedback. The review examined pricing process, specifications and publication frequency to meet IOSCO principles for price‑reporting agencies. A...
Brazil Soy Demand for Biodiesel May Rise by 72pc
Brazil's soybean demand for biodiesel could surge 72% to 74 million tonnes by 2035, driven by a planned increase in the biodiesel blending mandate from 15% to 24%. The soybean oil share of biodiesel feedstock, about 70%, would push oil demand...
Brent Oil Price Near $100 Again with U.S.-Iran Talks Uncertain and Hormuz Still Blocked
Brent crude for June delivery rose nearly 5% to close at $99.39 a barrel, nudging the benchmark back toward the $100 mark. Tanker traffic through the Strait of Hormuz remains heavily restricted as the U.S. Navy maintains a blockade and...
India and Asian Markets Adapt to Middle East LNG Disruption: S&P Global Energy
S&P Global Energy reports that Middle East LNG supply disruptions are prompting Asian markets to adjust. India’s gas allocation prioritises fertilizers, city gas and transport, leaving power, refining and petrochemicals vulnerable. South Asian countries face demand destruction through rationing and...
ARA Jet Fuel Stocks at Six-Year Low: Insights Global
Jet fuel inventories at the Amsterdam‑Rotterdam‑Antwerp (ARA) hub fell 7.6% to roughly 600,000 t in the week to 15 April, marking the lowest level since April 2020. The decline follows a second consecutive week of draws, driven by disrupted Middle‑East supplies after the...
Rotterdam 1Q Bunker Sales Fall Sharply
Rotterdam’s conventional marine fuel sales slumped 28% year‑over‑year in Q1 2026 after the Netherlands enforced the EU’s RED III mandate, prompting many shipowners to bypass the port. VLSFO volumes plunged 44% to roughly 440,000 t, while HSFO, ULSFO, MGO and MDO also saw...
Correction to Alumina Index, Fob Australia and Inferred Prices on April 15
Fastmarkets issued a correction notice on April 15, adjusting its alumina price indices by two cents per tonne. The Australia FOB index was updated to $303.20 per dry metric tonne, and inferred prices for Vietnam, India, Indonesia and Brazil were...
UK Jet Fuel Supply OK for Now, Outlook Uncertain
UK jet fuel supplies are presently stable, but industry leaders warn that visibility beyond the next six weeks is limited. The disruption of Middle East exports caused by the US‑Israel conflict with Iran has heightened concerns across Europe. Refineries such...
Iran War Prompts Shift to Fob Steel Export Offers
Steel exporters in Asia, Turkey and India are moving from cost‑and‑freight (CFR) to free‑on‑board (FOB) contracts as the US‑Israel conflict with Iran drives up ocean freight and disrupts the Strait of Hormuz. Higher freight rates—up to $80 per tonne to...
European Utility Expects New U.S. LNG Supply to Soften Blow of Qatari Outage
Italian utility Edison SpA announced it has secured seven LNG cargoes from the United States to compensate for a shortfall caused by QatarEnergy’s force‑majeure declaration. The outage follows Qatar’s shutdown of super‑chilled LNG production amid Middle‑East conflict. Edison’s CEO Nicola Monti cited...
Solar PPA Prices in Q1 2026 Fall in Europe, Rise in North America
LevelTen Energy reports that average solar power purchase agreement (PPA) prices fell 13% year‑on‑year to €55.05/MWh (US$64.83/MWh) in Europe during Q1 2026, marking five straight quarters of decline. In contrast, North American solar PPAs rose 13% YoY to US$64.49/MWh, driven by...
Steel Producers Tease Q1 Earnings Surge, Citing Higher Prices
U.S. steelmakers Nucor and Steel Dynamics are projecting a sharp rise in first‑quarter earnings, buoyed by higher sales volumes and prices after Section 232 tariffs redirected demand to domestic producers. Both firms expect earnings per share to climb roughly $1 versus...
USA Crude Oil Stocks Drop Almost 1MM Barrels WoW
The Energy Information Administration’s weekly petroleum status report for the week ending April 10 shows U.S. commercial crude inventories fell 0.9 million barrels to 463.8 million barrels, roughly one percent above the five‑year seasonal average. Total petroleum stocks dropped 13.1 million barrels week‑on‑week while...
Implications of WTI Oil Futures In Backwardation Amid the Supply Crunch
WTI oil futures have entered backwardation, with near‑term May and June contracts trading above the more stable December contract. Backwardation signals a tight market and generates a positive roll yield, contrasting with the negative roll yield seen in contango periods....