Aiding Piped Gas Push
The Israel‑Iran conflict disrupted global fuel flows, prompting an LPG shortage in India. The government issued the Natural Gas and Petroleum Products Distribution Order 2026, mandating a 25% boost in LPG output and a 25‑day inter‑booking period to curb hoarding, while pausing commercial natural‑gas supply to non‑essential users. Domestic refineries have since increased production by 40%, delivering 50 TMT of LPG daily—about 60% of the nation’s demand—and accelerating the shift to piped natural gas (PNG). The crisis also highlighted the limitations of traditional galvanized‑iron piping, creating a market opening for Corrugated Stainless‑Steel Tubing (CSST).
Oil Prices Coming Down, But for a Worrisome Reason
The International Energy Agency (IEA) warns that "demand destruction" is now unfolding as oil prices soar to record levels. The recent partial closure of the Strait of Hormuz, which handles about 20% of global oil shipments, has tightened supply and...
How Big Oil Is Cashing in on Iran War - The Latest
The world’s 100 largest oil and gas companies generated more than $30 million per hour in unearned profit during the first month of the US‑Israeli war on Iran. Crude prices averaged $100 a barrel in March, driving an estimated $23 billion windfall...
Egypt’s NCIC Issues Tender to Sell Various Fertilizers
Egyptian state‑owned fertilizer producer NCIC has launched a second tender to sell a mix of DAP, TSP, SSP, urea, CAN26 and water‑soluble SOP, with loading scheduled for April. The tender, which closes on 20 April, lists FOB prices ranging from $352...
Iran War Drives up African Bitumen Truck Prices
The outbreak of the Iran‑Israel‑US war has sharply lifted bitumen truck prices across sub‑Saharan Africa. In East and Central Africa, ex‑Mombasa rates jumped to KSh165‑175 per kilogram (about $1,159‑$1,313 per tonne), a 40% increase. Nigerian bulk bitumen now trades around...
Demand for Colombia LNG Shipments Set to Surge
Colombia’s power sector is gearing up for a sharp increase in LNG imports as an El Niño‑driven dry season threatens its hydropower‑dependent grid. Imports, currently 210 million cubic feet per day, are expected to climb to the SPEC terminal’s full 475 mcf/d capacity...
Iran War, Indonesia Curbs to Support Nickel Price: Report
BMI raised its 2026 refined nickel price forecast to $16,600 per tonne, up from $15,800, citing a structurally firmer market despite a persistent global surplus. Indonesia’s decision to cap nickel ore mining quotas at 260‑270 million wet metric tonnes, down from...
Bunker Fuel Shortages Loom After US Counter Blocks Strait of Hormuz
US naval counter‑operations have effectively blocked commercial traffic through the Strait of Hormuz, disrupting the primary route for bunker fuel shipments to Asia. Analysts warn that within two to three months container lines could encounter a global shortage of low‑sulfur...
Silver Demand From PV Industry Expected to Drop 19% This Year
Metal Focus’s World Silver Survey 2026 shows the global silver market remains tightly constrained, with prices averaging $40 per ounce in 2025 and a fifth straight annual deficit of 40.3 million ounces projected for 2025 and 2026. At the same time,...
Gold, Silver Rates Today: Comex Gold Slips $46/Oz; Silver Falls $1.2/oz as Investors Book Profits
Gold and silver prices eased on April 15 as investors took profits after a sharp rally. Comex gold futures slipped $46 per ounce to $4,808, while silver fell $1.23 to $78.3 an ounce. In India, MCX gold held near ₹154,854...
Gold Jewellery of Lower Carats to Gain Traction in Run up to Akshaya Tritiya
Gold prices in India have slipped 18% from their January peak of ₹1.80 lakh (≈ $2,170) to ₹1.52 lakh (≈ $1,830) per 10 g, prompting a shift toward lower‑carat jewellery ahead of the auspicious Akshaya Tritiya festival. At current rates, 18‑carat gold costs about ₹1.16 lakh (≈ $1,400)...
US Officials Claim China Is ‘Hoarding’ Oil. What Does the Data Say?
U.S. Treasury officials accused China of hoarding oil amid the US‑Israeli‑Iran conflict, but customs data shows China’s crude imports actually slipped 2.8% in March 2026 after an 8.9% year‑on‑year rise in the first quarter. Port inventory indices fell in early...
Silver Faces Sixth Year of Deficit with Stock Drawdown Raising Squeeze Risks, Research Shows
Silver prices have slumped 35% from their 2025 peak of $121.6 per ounce, marking a sixth consecutive year of market deficit. The global deficit is projected to widen to 46.3 million ounces in 2026 despite a 2% drop in total demand....
How Other Countries Are Responding to Surging Oil Prices - and Why Spain Is in a Good Position
Rising oil prices triggered by the Iran‑Houthi conflict have prompted a patchwork of policy responses across Europe. The United Kingdom, grappling with high debt, has resisted new fuel‑duty cuts beyond a £5 bn ($6.3 bn) annual program, while Germany introduced a two‑month...
How the US-Israel War on Iran Is Affecting African Economies
The US‑Israel blockade of the Strait of Hormuz has choked a key oil and fertilizer corridor, driving fuel prices up 30‑70% across Africa and as high as 150% in Somalia. East African and some North African nations that depend on...
Power Insider: The Markets Are Obsessed with the Strait of Hormuz. Why It Matters Less than You Think
Traders are fixated on the Strait of Hormuz, believing ship traffic can forecast oil prices, but new Saudi and UAE pipeline capacity has halved the waterway’s relevance. The U.S. naval blockade of Iranian ports adds volatility, yet the market’s real...
'Demand Destruction Will Spread': IEA Forecasts Sharpest Fall in Global Oil Demand Since Pandemic
The International Energy Agency (IEA) warned that global oil demand will contract by about 2.5 million barrels per day in the third quarter of 2024, marking the steepest quarterly drop since the COVID‑19 pandemic. The decline is driven by reduced consumption...
EIA Boosts 2026 Brent Oil Price Projection to $96
The U.S. Energy Information Administration raised its 2026 Brent crude price outlook to an average of $96 per barrel, up sharply from the $78.84 forecast in March. The agency now expects a volatile quarterly path, with Brent hitting $114.60 in...
Why Oil Refiners Are the Real Winners of $100 Oil Prices
Oil prices breaching $100 a barrel have lifted refinery crack spreads to an unprecedented $54 per barrel, fueling robust margins for U.S. refiners. Valero, Marathon Petroleum and Phillips 66 are capitalising on geographic advantages, heavy‑crude access and diversification, posting record throughput...
Nearly 60% of U.S. Farmers Say Their Finances Are Getting Worse as Fertilizer, Fuel Costs Rise: Survey
A new American Farm Bureau Federation survey shows 58% of U.S. farmers say their finances are worsening as fertilizer and fuel costs surge due to Middle East shipping disruptions. Fertilizer prices jumped from $139 to $217 per acre, a 56%...
New Episode: How Have Global Oil Supply Chains Shifted Around the Iran Conflict?
The latest Energy Technology episode examines how the US‑Israel‑Iran confrontation has reshaped global oil supply chains. With the Strait of Hormuz closed and U.S. blockades on Iranian tankers, Middle‑East exporters such as Saudi Arabia and the UAE have trimmed output...
Analyst Flags Peace Momentum but Gives Oil Market Warning
SEB commodities analyst Ole R. Hvalbye noted that front‑month Brent fell to $94.79 per barrel, a drop of more than 4% from the previous day's high of $103.87. He attributed the sell‑off to growing diplomatic momentum, including potential U.S.–Iran talks...
India Gets Fertilizer Offers Near $1,000 as War Stokes Costs
India’s latest urea tender, the world’s largest nitrogen‑fertilizer buyer, received bids hovering around $1,000 per metric ton. More than two dozen suppliers, including Aramco Trading Co. and Ameropa Asia, submitted offers as the conflict in Iran pushes global fertilizer costs...
Gold Edges Lower As Dollar Stabilizes Ahead Of Possible US-Iran Peace Talks
Gold prices slipped from a one‑month high as the U.S. dollar regained ground ahead of possible US‑Iran peace talks in Pakistan. Spot gold fell 0.8% to $4,800.98 per ounce, while June gold futures dropped 0.6% to $4,823.15. The dollar index...
PGMs, China’s Stockpiling Spur Mining Production Leap, Minerals Council Reports
South Africa’s mining sector posted a 9.7% year‑on‑year production rise in February 2026, propelled by a 52.3% surge in platinum‑group metals (PGMs) and Chinese stockpiling of chrome and manganese. Total mineral sales jumped 58.3% YoY to R78.6 billion (≈$4.1 billion), led by...
Oil Prices Inch Higher After A Two-Day Slump
Oil prices rebounded on Wednesday after a two‑day slump, with Brent crude climbing to $96.18 a barrel (+1.5%) and WTI to $92.40 (+1.2%). The previous declines were sparked by an International Energy Agency warning that sustained high prices could curb...
Japan's Chemicals Sector Likely to Reduce Coal Demand
Japan’s petrochemical industry is expected to trim its thermal‑coal imports as a slowdown in naphtha‑fed cracker output reduces fuel needs. Major producers such as Mitsui Chemicals and Idemitsu have already cut production, while the sector’s annual coal demand of roughly...
Energy Supply Disruptions From Middle East War to Persist, IEA and IMF Warn
The International Energy Agency, International Monetary Fund and World Bank warned that the ongoing Middle East conflict will keep global oil and gas markets disrupted, even if shipping through the Strait of Hormuz normalizes. The shock is described as substantial,...
Iran War Pushes Global Food Markets Toward Crisis Mode
The Iran‑Israel conflict is tightening the Strait of Hormuz, choking a key route for oil and agricultural inputs. The IMF and OECD warn that the resulting energy shock could push global inflation above 7% and shrink growth to around 2%,...
Australia to Import 1.6mn Bl Gasoline From Europe
Australia is arranging to import roughly 1.6 million barrels of non‑oxy gasoline from Europe to shore up its dwindling fuel reserves. A price premium of over $34 per barrel in Singapore relative to Europe opened a lucrative arbitrage window, prompting shipments...
IMF Says Strait of Hormuz Closure Raises Prospect of ‘Major Energy Crisis’ – Video
The IMF warned that a shutdown of the Strait of Hormuz would spark a major energy crisis, pushing oil prices sharply higher. Chief economist Pierre‑Olivier Gourinchas outlined an adverse scenario with rising inflation and tighter financial conditions, and a severe...
Beef Prices Are Soaring In 2026 (And It Might Just Get Worse)
U.S. beef prices surged about 16% in 2026, with ground beef averaging $6.70 per pound and steaks $12.73 per pound—roughly double the 2021 cost. Federal Reserve Bank of St. Louis data shows a sharp jump after a decade of modest...
Milk Prices up 5.5% Across Canada: Field Agent
Field Agent Canada’s 2026 Canadian Fluid Milk Report, based on audits of 185 stores in 20 cities, shows milk prices have risen 5.5% since June 2024. The increase follows a 2.3% farm‑gate price hike imposed by the Canadian Dairy Commission...
Benchmark Diesel Price Ends Its 12-Week Streak of Increases
The U.S. DOE/EIA benchmark diesel price slipped 3.5 cents to $5.608 per gallon on Monday, ending a 12‑week run of weekly increases that had lifted the index $2.184 per gallon in total. On the same day, ultra‑low‑sulfur diesel futures on...
15 Charts that Explain Why the Strait of Hormuz Shutdown Matters for the Global Economy
The United States announced a blockade of the Strait of Hormuz on April 12, effectively shutting down one of the world’s most vital commodity corridors. The closure halts exports of crude oil, LNG, jet fuel, diesel, ammonia, sulfur, helium and...
Fastmarkets Launches Mexico Stainless Steel Scrap Prices
Fastmarkets has introduced a dedicated price assessment suite for Mexican stainless‑steel scrap, adding broker‑buying and ex‑works contracts for grades such as 304, 316, 409 and 430, plus the mixed‑material Zurik. The new benchmarks are published weekly on Tuesdays and are...
Decision to Change, Clarify Fastmarkets’ NCM Black Mass Payables Indicators
Fastmarkets announced revisions to its NCM black‑mass payable indicator methodology, effective April 22 2026. The update removes NCA material from the scope, tightens quality parameters (15‑25% nickel, 3‑10% cobalt, ≤5% moisture) and clarifies geographic sourcing rules for South Korean and European markets....
Copper Rises to 6-Week High as Iran Talks Raise Hopes
Copper surged 1.8% to $13,284.50 a ton on the London Metal Exchange, reaching its highest level in six weeks. The rally follows renewed optimism that the United States and Iran will resume peace talks and that Tehran may pause shipments...
Record Diesel Jump as Global Crisis Drives up Kenya Fuel Prices
Kenya will raise diesel prices by a record Ksh 40.30 ($0.31) per litre, taking the pump price to Ksh 206.84 ($1.60). Petrol will also climb by Ksh 28.69 ($0.22) to Ksh 206.97, while kerosene stays flat thanks to a Ksh 99.16 ($0.77) per‑litre subsidy. The...
Crude Oil Slumps As Trump Indicates Resumption Of U.S.-Iran Peace Talks
Crude oil prices plunged 7.25% to $91.90 per barrel after President Trump signaled a possible resumption of U.S.-Iran peace talks. The prospect of reopening the Strait of Hormuz and easing Gulf tensions reduced demand‑related concerns. The International Energy Agency warned...
Softs Report 04/14/2026
U.S. soft commodity markets showed mixed moves on April 14, 2026. Cotton futures edged higher, buoyed by dry conditions in the Great Plains and a lack of rain, with support levels around $72.70 per pound. Frozen concentrated orange juice slipped...
The IEA’s Fatih Birol: Oil Prices Will Soon Begin ‘Reflecting the Severity’ of the Energy Crisis
International Energy Agency chief Fatih Birol warned that current oil prices are lagging behind the true severity of the energy shock caused by the Iran war and the closure of the Strait of Hormuz. He said daily global oil output has...
Many Assets Have Retraced the War Move but Not Gold (or at Least Not Yet)
The S&P 500 and the euro have fully reclaimed the losses incurred during the recent Iran‑related war scare, while gold remains about 9% below its pre‑war peak. Gold rallied 2% in U.S. trading to $4,831, and silver surged 5%, signaling renewed...
West Asia Conflict: India's Soybean Meal Exports Fall 63%
India’s soybean meal exports plunged 63% in March 2026, falling to 60,000 tonnes from 162,000 tonnes a year earlier, as high domestic prices and the West‑Asia conflict disrupted shipments. Key markets such as Iran, the United Arab Emirates, Kuwait and...
Fertiliser Shortages Due to Iran War Are a Key Worry for Developing World, UN Agency Says
The United Nations International Trade Centre warned that the Iran‑U.S. conflict is choking fertilizer shipments, with about one‑third of global urea normally transiting the Strait of Hormuz. Blockades threaten supplies to key developing economies in Africa and Asia, risking lower...
IEA: Global Oil Market Hit by Historic Supply Shock Amid Middle East Conflict
The International Energy Agency reports that the Middle East conflict has slashed global oil supply by 10.1 million barrels per day, pulling total output down to 97 million b/d in March. OPEC+ output fell 9.4 million b/d while non‑OPEC supply dropped 770,000 b/d, creating...
Why Filipinos Must Stay Prudent Despite Cuts in Fuel Prices, Taxes
The Philippine government rolled back fuel taxes, cutting diesel by more than ₱20 per liter (about $0.36) and lowering gasoline and kerosene prices. While the relief eases household and business costs, global oil volatility—driven by U.S.-Iran tensions and threats to...
Fix the Energy Problem Before the Next Downturn
The Philippines’ energy mix remains heavily import‑dependent, with 55 % of primary energy sourced abroad in 2024 and self‑sufficiency slipping to 45 %. Although the Department of Energy aims for 35 % renewable power by 2030, coal still supplied 62.5 % of electricity in...
Democrat Ro Khanna to Introduce Bill to Stop US Gasoline Exports Amid Iran War
California Democrat Ro Khanna plans to introduce legislation that would temporarily ban gasoline exports when U.S. prices surge. The proposal comes as the U.S.-Israeli conflict with Iran drives historic fuel price spikes. Khanna argues that keeping gasoline at home can lower...
Research Firms Divided over Impact of Below Normal Monsoon on Food Inflation
India’s 2026 southwest monsoon is projected at 92‑94% of the long‑period average, classifying it as below‑normal. The shortfall, combined with a heatwave, energy price shocks and fertilizer supply concerns, is expected to lift food‑price inflation, a key driver of the...