Iran Attacks on Crucial Saudi Pipeline and Production Facilities Slash Kingdom's Oil Output
Iran attacked Saudi Arabia's strategic East‑West pipeline, knocking out about 700,000 barrels per day of capacity, and simultaneously struck the Manifa and Khurais production complexes, trimming Saudi output by roughly 600,000 barrels per day. The pipeline, which routes crude to the Red Sea terminal at Yanbu, is a key alternative to the Strait of Hormuz, now effectively closed after Iranian restrictions. Combined, the attacks have cut Saudi oil exports by an estimated 10 percent and contributed to a broader shutdown of about 13 million barrels per day across Gulf producers. The United States negotiated a brief cease‑fire, but the strait remains inaccessible, keeping global markets on edge.
Natural Gas Spot Prices, Apr. 9, 2026
On April 9, 2026 a cluster of natural‑gas market developments were reported. The EU announced a softening of its methane‑emission regulations to avert a potential supply crunch, while Israel’s Energean signaled the restart of production at the Karish offshore field....
Crude Climbs as Hormuz Disruptions Persist
Oil prices rose sharply on Thursday as West Texas Intermediate settled at $97.87 and Brent at $95.92, driven by persistent disruptions in the Strait of Hormuz and a reported 600,000‑barrel‑per‑day cut to Saudi production capacity. Despite a tenuous cease‑fire between...
Oil Pares Gains to Close up 1% as Israel Plans Peace Talks with Lebanon
Oil prices closed up about 1% on Thursday, with Brent at $95.92 and WTI at $97.87, but both remained below the $100 barrier for a second day. The market initially spiked over 5% on doubts about the durability of the...
The Struggle to Diversify Rare Earth Supply Chains
Demand for rare earth magnets has doubled since 2015, and the International Energy Agency projects a 30% increase by 2030. China now controls roughly 60% of mined production, over 90% of refining, and 95% of permanent‑magnet output, creating a single‑source...
Brazil on Track to Fill China Beef Export Quota by May as Prices Hit All-Time High
Brazil is on track to exhaust its 1.106 million‑tonne beef export quota to China by early May as cattle prices hit a record R$365 (≈US$71.6) per arroba. March saw a historic 233,950 tonnes of fresh beef shipped, generating roughly R$7 billion (≈US$1.37 billion) in...
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USDA Raises Price Estimates for Several Commodities
The USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) raised season‑average price forecasts for wheat, corn, soybeans, soybean meal, cheese and cotton. Wheat and corn prices each rose 5 cents to $5.00 per bushel and $4.15 per bushel respectively,...
Attacks Cut Saudi Oil Capacity by 600,000 Barrels per Day
First official confirmation of scale of damage done by Iran to kingdom’s energy sector
Tin Surge Helps Alphamin to Record Earnings but Fuel Hike Looms
Alphamin posted record earnings for the March quarter, driven by a 30% quarter‑on‑quarter rise in tin prices that lifted EBITDA 48% to $158 million and generated $128 million of cash. All‑in sustaining costs climbed 7% to $17,968 per ton due to higher...
Aluminum Stocks Extend Breakouts Amid Iran War. Alcoa Earnings Due.
Aluminum stocks surged as Iranian missile strikes forced key Middle‑East smelters offline, tightening global supply. JPMorgan projects prices climbing toward $4,000 per ton, fueling earnings optimism for producers such as Alcoa, Kaiser Aluminum, and Indian heavyweights Hindalco and Vedanta. Alcoa’s...
Sugar Prices to Rise in May Amid Soaring Costs
Thai Sugar Millers Corp (TSMC) will hold retail sugar prices steady through April but raise them in May as energy, petrochemical and packaging costs surge. A 40% jump in plastic‑pellet prices has driven bag costs sharply higher, adding hidden expenses...
Gold Inches Higher As Focus Turns To Strait Of Hormuz Amid Lebanon Attacks
Gold edged higher on Thursday, gaining 0.9% to $4,819.90 per ounce as markets digested the U.S.-Iran cease‑fire and renewed focus on the Strait of Hormuz. The rally coincided with a 1.5% rise in silver to $76.80 per ounce and a...
Travelers See Fewer Flights and Higher Airfares as Jet Fuel Prices Swing
Jet fuel prices have surged to about $209 per barrel, roughly double the level at the start of the war in the Middle East, prompting airlines to raise fares and ancillary fees. U.S. carriers such as Delta and United report...
While Whole Fish Prices Tumble, Atlantic Salmon Fillets From Norway Hit NOK 177 Entering Week 15
The Sitagri Salmon Index reported that Norway’s whole, headed, gutted Atlantic salmon for the 3‑to‑6 kg segment fell to NOK 87.55 per kilogram in Week 14, equivalent to about $9.20. This marks a NOK 3.46 (≈$0.36) drop from the Week 13 average of NOK 91.01 ($9.56)....
Oil Prices Edge Higher as Confidence in Cease-Fire Wavers
Oil prices nudged higher on Thursday after a brief dip following a tentative cease‑fire between Iran and the United States. Brent crude settled around $96 a barrel, up roughly 30% since the conflict began, while U.S. WTI hovered near $98,...
Ceasefire: Oil Prices Sink, Stocks Rise
Maria Aspan, NPR
MacroVoices #527 Adam Rozencwajg: What Comes Next After The Iran Crisis
Adam Rozencwajg appears on MacroVoices to dissect the fallout from the Iran crisis. He highlights a sharp physical dislocation in the oil market, pushing prices higher and tightening supply. The conversation also covers rising food prices, inflation pressures, a potential...
A Global Food Emergency: Why the Closed Strait of Hormuz Puts Half the World’s Calories at Risk
The closure of the Strait of Hormuz has disrupted the flow of roughly a third of the world’s fertilizer shipments, driving U.S. fertilizer prices up more than 40% in a single month. Higher fertilizer costs force farmers to cut applications,...
Jet Fuel Supply Disruptions Are Comparable to 9/11 and Could Take Months to Replenish Even if Hormuz Strait Is Reopening,...
IATA chief Willie Walsh warned that jet‑fuel shortages caused by the Iran‑related war will linger for months even if the Strait of Hormuz reopens. Refining capacity in the Middle East has fallen 10‑12%, removing over 2 million barrels per day from...
Reliance Caps Fuel Sales at $11 per Pump Amid Growing Shortages
Reliance Industries, through its Jio‑BP joint venture, has begun limiting fuel purchases to roughly 1,000 rupees ($11) per customer at more than 2,000 retail pumps across India. The caps are a response to supply strain caused by the ongoing Hormuz...
Softs Report 04/09/2026
Cotton futures slipped amid expectations of rain in the western Great Plains, while higher petroleum prices raise shipping and polyester competition costs. USDA data show U.S. upland cotton export commitments edging up to 10.4 million bales, with Pima cotton remaining flat....
How the Global Energy Crisis Is Shaking Canada From Coast to Coast — and Could Leave a Lasting Legacy
The Iran‑Israel conflict has choked the Strait of Hormuz, driving global oil prices above $90 a barrel and prompting Canadian firms to scramble for supply. Irving Oil secured regulator approval to use a foreign tanker to import up to 680,000...
Natural Gas Prices Sinking to $2.70
Trading Economics
Higher Jet Fuel Costs Could Mean Pricier Flights This Spring And Summer
Travelers planning spring and summer trips face higher airfare as jet fuel spikes 7.1% to $209 per barrel. Airlines such as Delta have halted Q2 capacity growth and now pay about $4.30 per gallon for jet fuel, planning to recoup...
Gold, Silver Rates Today: Comex Gold Jumps $25/Oz; Silver Near $75.4 Amid US-Iran Ceasefire Uncertainty
Gold futures on the COMEX edged higher by $25, reaching $4,802 per ounce, while silver stayed flat around $75.47. A softer U.S. dollar and renewed Middle East tensions provided modest support for both metals. The rally was tempered by uncertainty...
Diesel Supplies to Poland's Ports at Record in March
Seaborne diesel deliveries to Poland’s Baltic ports surged to a record 776,000 tonnes in March, eclipsing the previous high of 667,000 tonnes set in May 2022. The spike was driven by a planned turnaround at the 210,000 b/d Gdańsk refinery and...
DRC Quota Extension Eases Cobalt Supply Concerns, but Market Reaction Muted
The Democratic Republic of Congo extended its cobalt export quota deadline by an additional 30 days, moving the Q4 2025 cutoff to the end of Q1 2026. CMOC, the world’s largest cobalt producer, said the extension will let it ship its full...
Gas Turbine Supply Crunch Set to Raise Prices 195% by 2027: WoodMac
Wood Mackenzie forecasts gas turbine prices to soar to $600 per kilowatt by the end of 2027, a 195% jump from 2019 levels. The surge is driven by specialized labor shortages, hot‑section component bottlenecks, and trade‑related cost pressures, compounded by...
Iron Ore Slips on Signs of BHP-China Thaw
Iron ore prices fell to a one‑month low after Bloomberg reported that BHP’s incoming CEO, Brandon Craig, visited Beijing. The visit sparked speculation that the long‑running pricing dispute between BHP and China Mineral Resources Group (CMRG) may be easing. Futures...
The Government Targets to Buy 303.36 Lakh Tonnes (Lt) of Wheat for the Central Pool Stock by June 30.
The Indian government plans to buy 303.36 lakh tonnes of wheat for its Central Pool by June 30, despite unseasonal rain and hailstorms that have damaged crops in 111 districts across nine states. The weather events are projected to cut overall wheat...
Ceasefire: European Gas Prices Sinking
Tsvetana Paraskova, Oil Price
How War in the Middle East Paralysed an Asian Food Giant
The war in the Middle East has sharply curtailed oil and fertilizer shipments, driving diesel prices in Vietnam’s Mekong Delta to double and depleting fertilizer stocks to a fraction of normal levels. Rice mills have halted operations and barges sit...
IMF Warns of Deepening Global Food Crisis as Fertilizer Prices Surge
The International Monetary Fund warned that soaring fertilizer prices are set to deepen the global food crisis, potentially pushing the number of people facing hunger above 360 million. IMF Managing Director Kristalina Georgieva highlighted that transport disruptions and higher input costs are...
European Commission Publishes First CBAM Certificate Price
The European Commission released the first‑quarter 2026 Carbon Border Adjustment Mechanism (CBAM) certificate price at €75.36 ($89.64) per tonne CO₂e, based on the volume‑weighted average of EU Allowances (EUAs). EUA prices swung sharply in Q1, climbing above €90 before falling...
Iran War Doubles Russia's Main Oil Revenue to $9 Billion in April
Russia’s mineral extraction tax on oil is set to double in April, reaching roughly $9 billion, after the Iran‑related crisis drove Brent futures above $100 per barrel. The surge stems from the Strait of Hormuz closure following US and Israeli airstrikes,...
Oil Prices Hit $100 With Hormuz Closed Despite Ceasefire, But S&P 500 Diverges
U.S. crude prices surged past $100 a barrel as Iran kept the Strait of Hormuz closed, demanding Israel halt attacks on Hezbollah in Lebanon. The closure reignited supply‑risk premiums, pushing the near‑term WTI contract up 5.8% after briefly topping $102....
Reliance Caps Sales at $11 Per Pump as Shortages Deepen
Reliance Industries, India’s largest private‑sector refiner, has begun capping fuel purchases at its Jio‑BP stations to roughly $11 per visit as Middle‑East tensions keep crude shipments constrained. The limit of 1,000 rupees per customer is being enforced informally to deter...
3 Canadian E&P Stocks Benefiting From a Tight Oil Market
Zacks highlights a tight oil market and expanding LNG capacity as catalysts for Canadian exploration‑and‑production firms, naming Canadian Natural Resources, Baytex Energy and ARC Resources as top picks. The industry outperformed the broader oil‑energy sector, delivering a 79.2% gain versus...
Goldman: Oil Could Remain at Crisis Prices for Rest of Year
Goldman Sachs warned that oil prices could stay above $100 a barrel for the remainder of 2026 if the Strait of Hormuz remains closed for another month. The strategic waterway, which carries roughly one‑fifth of global seaborne oil, has been...
How the Strait of Hormuz Stifled a Market Rally
Investors turned bearish as the fragile U.S.-Iran cease‑fire raised doubts about reopening the Strait of Hormuz. The waterway, which moves roughly a quarter of global oil and gas shipments, remains congested, dampening the market rally sparked earlier in the week....
Oil Prices Rise to Nearly $100 After Iran Accuses U.S. of Breaching Ceasefire Deal
Oil prices surged on Thursday, with Brent crude reaching $98.54 a barrel and U.S. WTI climbing to $99.41, after Iran accused Washington of violating three elements of a two‑week cease‑fire agreement. Iran’s parliamentary speaker cited Israel’s strikes in Lebanon, a...
Global Milk Boom Continues as Prices Come Under Renewed Pressure
Global milk production remained elevated in Q1 2026, keeping supply abundant and pushing commodity prices lower. Whole‑milk powder fell about 30% and butter‑fat 40% since September, while protein‑rich products slipped roughly 15%. The dairy trade index, after six months of...
Silver Rate Today in India Is Below ₹2.40 Lakh. Is This the Right Time to Buy the White Metal?
MCX silver futures slipped 1.17% to ₹2.37,100 per kilogram, pushing the rate below the ₹2.40 lakh threshold. The decline reflects cautious market sentiment, weak safe‑haven demand, and a firm US dollar. Technical analysis places immediate resistance near ₹2.46,5 lakh and support at...
'It's Killing Everything.' California's Truckers Are Buckling Under Country's Priciest Diesel
Record diesel prices in California have surged to about $7.75 per gallon, more than 35% above the national average, pushing a typical fuel tank from $600 to $1,000. Small‑fleet operators like Liberty Linehaul West, which runs 40 trucks, are seeing...
Why High Oil Prices Are Good for Oil Companies — Until They Aren't
Oil prices have surged to $90‑$100 a barrel after the Iran conflict, delivering a multi‑billion‑dollar profit boost for U.S. producers such as ExxonMobil. However, the windfall is tempered by hedging contracts that lock many firms to $57 per barrel and...
UK Farmers Warn Iran Ceasefire Too Late to Stop Higher Food Costs
UK farmers warn that a two‑week Iran ceasefire arrives too late to curb soaring input costs that are already baked into this planting season. Independent data from the Andersons Centre shows farm‑running expenses are over 7% higher year‑on‑year, with fertiliser...
Negative Electricity Prices Return to France, Germany
Negative hourly electricity prices resurfaced in France and Germany last week, with Germany posting a daily average of -$19.0/MWh and France -$4.2/MWh. Seven major European markets recorded weekly average prices below $116/MWh, the lowest level of the year, while Italy...
Batteries Reshape Solar Pricing in California Market
Aurora Energy Research reports that California’s growing battery fleet is lifting the value of negatively priced solar electricity by up to $42 per megawatt‑hour in the CAISO wholesale market. On March 20, 2026, more than 3 GW of storage assets bought electricity, injecting...
Feedgrain Focus: Dry North Lifts Values, South Softens
Dry conditions in northern Australia have forced growers to hold back wheat and barley, lifting new‑crop prices to about $425 AUD per tonne (≈$280 USD). In contrast, southern regions are seeing softer grain values as limited export demand, a urea shortage and...
Gold, Silver Rate Today, 9 April: Check Live Price of 24 Kt, 22 Kt, 18 Kt Gold and 10 Gm,...
Gold and silver prices in India slipped on 9 April as investors grew cautious amid rising crude‑oil prices following the Israel‑Lebanon clash. MCX gold opened at a downside gap of ₹1,50,647 per 10 gm but recovered above ₹1,51,000, ending 0.5% lower than...