Russia Oil Export Revenues Hit Highest Since Early Ukraine War as Prices Surge, Despite Ukrainian Port Attacks
Russian crude export revenues surged to about $2.02 billion per week, the highest level since June 2022, as global oil prices hit multi‑year highs. The rise was driven by a sharp increase in Urals prices above $116 a barrel and a narrowing of discounts in Asian markets, especially after a U.S. waiver allowed Indian refiners to boost purchases to roughly 1.9 million barrels per day. Ukrainian drone attacks on the Baltic and Black Sea ports, notably the Ust‑Luga terminal, disrupted shipments, keeping overall export volumes below pre‑conflict norms.
Why Fuel and Food Prices Could Still Be Affected for Months
A tentative two‑week ceasefire in Iran has eased geopolitical tension, causing crude oil prices to tumble, yet they remain above pre‑war levels. Analysts warn that damaged Gulf production facilities and blocked shipments through the Strait of Hormuz will keep fuel...
Why Did Petrol and Diesel Prices Go up in Malaysia when Global Crude Oil Prices Went Down? MoF Explains
Malaysia’s weekly retail fuel prices rose this week even as global crude oil prices fell, prompting confusion among motorists. The Ministry of Finance explained that pump prices are calculated from the previous week’s average, not today’s spot price, and reflect...
Steel Tariffs Risk Supply Shortages, SAISC Warns
The Southern African Institute of Steel Construction (SAISC) warns that newly imposed anti‑dumping tariffs on selected steel imports are already prompting merchants to cancel or delay orders. While the tariffs aim to protect domestic producers, SAISC says the sudden rise...
U.S.-Iran Ceasefire Sends Wall Street Soaring, with Crude Oil Prices Down 16%
Wall Street rallied sharply after the United States and Iran announced a two‑week ceasefire that reopens the Strait of Hormuz, sending U.S. crude prices down about 16 percent. S&P 500 futures jumped 2.7%, Dow futures 2.6% and Nasdaq futures 3.4%...
High Fuel Prices Could Persist for 'Months,' Despite U.S.-Iran Ceasefire
Diesel prices jumped to a national average of $5.64 per gallon, more than $2 above last year, while gasoline rose 13 cents to $4.12 per gallon. The West Coast saw diesel near $7 per gallon, the highest regional level. Although...
US Ceasefire May Boost LPG, LNG Supplies to India in Short Term
The United States announced a two‑week ceasefire with Iran, easing the immediate bottleneck in the Strait of Hormuz that has stranded dozens of LPG and LNG carriers. Analysts expect India’s LPG and LNG imports to restart within weeks, while crude...
Oil Tumbles Below $100 After Trump Announces Two-Week Ceasefire
Oil fell below $100 a barrel after President Donald Trump announced a two‑week ceasefire with Iran, promising a safe reopening of the Strait of Hormuz. Brent settled at $91.80 and WTI at $92.62, while European diesel dropped 20.8 percent to $1,210.50...
As War Premiums Hit Groceries, China Deals Give Africa Room to Breathe
The recent disruption of the Strait of Hormuz has pushed Brent crude above $100 per barrel, inflating diesel, fertilizer and food costs in vulnerable African economies. At the same time, China announced zero‑tariff access for imports from 53 African countries,...
Malaysian Fuel Prices, April 9 to 15, 2026 – Petrol up 40 Sen, RON95 to RM4.27; Diesel up 70 Sen,...
Malaysia's Ministry of Finance announced weekly fuel price adjustments for April 9‑15, 2026, raising unsubsidised RON95 petrol to RM4.27 per litre (≈ $0.94) and diesel B10/B20 to RM6.72 per litre (≈ $1.48). The premium RON97 also increased by 40 sen to RM5.35...
Iran Conflict: How Food Can Prepare for Fertiliser Shortages
The temporary closure of the Strait of Hormuz sent fertilizer prices soaring 20‑45%, inflating costs for staple grains such as wheat, rice and maize. Experts warn that the chokepoint could shut again, exposing global food systems to recurring input shocks....
Tomatoes From Malaga Cost Nearly 3 Euros per Kilo at Origin
Tomato prices in Málaga’s greenhouse sector have surged to about €3 per kilogram, roughly $3.25, a record high. The Andalusian Price and Market Observatory reported average prices over €2/kg, nearly double the previous season and three times the first half...
EPA Increases Ethanol Content Of Gasoline
The EPA has issued a 20‑day emergency waiver allowing nationwide sales of E15, a gasoline blend with 15% ethanol, to counter soaring fuel prices that have topped $4 per gallon and $8 in California. Ethanol, primarily derived from corn, is...
Gold Climbs to Near Three-Week High After US, Iran Agree to Ceasefire
Gold surged to a near three‑week high, trading at $4,783.78 per ounce, after the United States and Iran announced a two‑week cease‑fire and opened talks on a permanent peace. The cease‑fire sent oil prices tumbling more than 13% below the...
Rosneft Tamps Down Profit Expectations From Soaring Prices
Rosneft reported an 18.8% drop in 2025 revenue to $105 billion, with EBITDA falling 28% to $27.7 billion and net income plunging 73% to $3.7 billion. The company cited volatile oil prices, a stronger ruble and intensified sanctions as primary headwinds, while higher...
‘I’m Not Doing This for Fun, I’m Fully Committed’: HBI Investor on $5.7 Bln Green Steel Push in Brazil
Brazil Iron’s Bahia project is a $5.7 billion effort to produce up to 15 million tonnes per year of hot‑briquetted iron (HBI), positioning Brazil as a major supplier of green steel feedstock. The venture has already invested about $1.7 billion, with 85% of...
Ukraine Torches Putin’s Iran War Windfall, as EU Allies Sweat over High Energy Prices
Ukraine’s intensified drone and missile strikes have knocked out roughly 40% of Russia’s oil export capacity, cutting about one million barrels per day from the market. The Kremlin responded by expanding a gasoline export ban to all producers until July...
Ceasefire Announced: Oil Below $100, US Market Futures up Sharply
A surprise two‑week cease‑fire between the United States and Iran caused oil prices to plunge below $100 per barrel, with Brent falling about 13% and U.S. benchmarks mirroring the drop. The sharp decline sparked a risk‑on rally, lifting S&P 500 and...
Which Power Markets Are Most Impacted by the Middle East Conflict?
Wood Mackenzie’s analysis of 13 major power markets shows that those heavily reliant on imported coal and gas could see generation costs jump by $8.30 per megawatt‑hour if current fuel price spikes persist through 2026. Japan, South Korea and Italy...
Voluntary Blending Rises as Biodiesel Premiums Turn Negative in the EU
Crop-based biodiesel in the EU fell below fossil diesel prices on April 2, with FAME 0 and RME premiums turning negative for the first time. The price gap, roughly $45 per tonne, makes a 7% biodiesel blend cheaper than pure...
Iran Conflict: Is Ceasefire Too Little, Too Late for Global Food?
The United States and Iran have agreed to a two‑week cease‑fire that temporarily reopens the Strait of Hormuz under Iranian military coordination. The strait carries about 30 % of global fertilizer shipments, making its partial reopening critical for agricultural input supplies....
Jet Fuel Crisis to Last Months Even After Iran-US Ceasefire, IATA Warns
IATA warns that jet fuel shortages will linger for months despite the tentative reopening of the Strait of Hormuz following a US‑Iran ceasefire. Damage to regional refining capacity means crude flows alone cannot quickly restore supply, leaving airlines with higher...
RBI Ups Crude Oil, Exchange Rate Baseline Assumptions for FY27
The Reserve Bank of India raised its FY27 baseline crude‑oil price to $85 per barrel, up from $70 in the second half of FY26, and lifted its rupee projection to 94 per dollar, up from 88. The revision follows a...
Oil Prices Plunge 15% to Below $100, Stocks Surge and Dollar Slumps After Trump Announces US-Iran Ceasefire – Business Live
Oil prices dropped more than 15% to under $100 a barrel after the United States and Iran announced a two‑week conditional cease‑fire and a temporary reopening of the Strait of Hormuz. The news sparked a broad equity rally, with Asian...
Gold Volatility Amid Geopolitical Crises: What History Tells Us>
Gold’s March price swing surprised markets, dropping 11.6% to a $4,099 low after briefly breaching $5,400 amid heightened geopolitical tension. The sell‑off was driven by rising U.S. rates, a stronger dollar and an oil‑price shock, echoing patterns seen in 2008,...
Commodity Prices Rise on Energy Disruptions>
Commodity markets posted broad gains in Q1 2026 as energy supply disruptions linked to the Iran conflict and reduced transit through the Strait of Hormuz pushed crude oil and LNG prices higher. The UBS CM Commodity Index (CMCITR) delivered a 16.68%...
Commodity Strategies Diverge as Roll Yield Takes Over>
A Gulf oil production shutdown of roughly 9 million barrels per day has pushed front‑month WTI crude to about $110 a barrel, creating steep backwardation and a strong positive roll‑yield environment. VanEck’s CMCI Commodity Strategy ETF, which spreads exposure across three‑month...
Australian Petrol Prices to Fall Within the Month – if US-Iran Ceasefire Holds
A US‑Iran cease‑fire agreement sent Brent crude below $91 per barrel, sparking hopes that Australian fuel prices will soon ease. Regular unleaded, which has surged above A$2.50 (≈ $1.65 USD) a litre, could drop roughly 10 cents per litre (≈ $0.066 USD) for every $10‑a‑barrel...
Fuel Crunch: Does Australia Have Enough Cards to Keep up Supply?
Australia is confronting a fuel crunch after Iran closed the Strait of Hormuz, cutting global oil supply by roughly 20%. Most of the nation’s recent imports traversed the strait, meaning a six‑week lag before alternative sources can arrive. The federal...
The Commodities Feed: Oil Slumps Below $100 After US, Iran Agree to Two-Week Ceasefire
Oil prices slipped below $100 per barrel after the United States and Iran announced a two‑week ceasefire, easing fears of prolonged supply disruptions in the Strait of Hormuz. Brent settled around $94/bbl and WTI near $96/bbl, marking the steepest decline...
Jet Fuel Supply Could Take Months to Recover After Hormuz Reopening
IATA director general Willie Walsh warned that even if the Strait of Hormuz reopens, jet‑fuel supply will take months to normalize because Middle East refining capacity remains disrupted. Crude prices fell below $100 per barrel after a U.S.–Iran cease‑fire pledge,...
Crude Oil Futures Crashes 6% to Hit Lower Circuit as US-Iran Ceasefire Cools Tensions
Crude oil futures plunged 6% on Wednesday, hitting lower‑circuit limits after the United States and Iran announced a two‑week ceasefire. On India’s MCX, April crude fell to ₹10,029 per barrel (≈$121) and May to ₹8,860 (≈$107). In the United States,...
Oil Prices Plunge Below $100/Bbl After US, Iran Agree on 2-Week Ceasefire
Oil prices plunged about 14% on Wednesday as Brent fell to $95.17 and WTI to $96.41, both slipping below the $100 per barrel threshold. The drop follows a two‑week cease‑fire agreement between the United States, Israel and Iran and a...
Recycled Steel Prices Stay Afloat Amidst Latest Storm
U.S. steel mills increased output in early April, lifting raw‑steel production by 8.2% year‑over‑year to 1.83 million tons and pushing capacity utilization to 79.1%. Despite higher domestic supply, recycled‑steel prices remained flat in March, with benchmark grades holding gains made over...
Coal Demand at Power Plants Seen Rising 11.5%
India’s coal‑based power sector expects an 11.5% jump in coal consumption to 233 million tonnes in the April‑June quarter, driven by a 13.3% rise in electricity generation to 341 billion units. Full‑year demand is projected at 906 million tonnes, up from 826 million tonnes...
Stoves to Cars: India Expands Ethanol Use Amid West Asia War
India faces a roughly 20 billion‑litre ethanol surplus, prompting officials to seek new demand channels beyond the E20 petrol blend. Pilot projects are testing ethanol‑powered cooking stoves, diesel blends for generators, and flex‑fuel buses in Karnataka. Automakers such as Maruti Suzuki,...
DOE Chief: Damage to Oil Sites to Keep Prices High
Philippines Energy Secretary Sharon Garin warned that damage to oil infrastructure in the Middle East will keep fuel prices elevated even if the Strait of Hormuz reopens. The country imports 98% of its crude oil from the region, and diesel...
Oil Shock Sends Philippine Inflation Surging to 4.1% in March
Philippine inflation jumped to a near‑two‑year high of 4.1% in March, driven primarily by a sharp rise in transport costs as gasoline and diesel prices surged 27.3% and 59.5% respectively. Fuel pump prices now range from roughly $2.00 to $2.87...
Daily Market Wire 8 April 2026
The Iran‑related cease‑fire brokered by Pakistan caused WTI crude to plunge 19% to about $91 per barrel, triggering a 400‑point rally in Dow futures. Meanwhile, the Australian dollar proved resilient, appreciating nearly 4% year‑to‑date and firming around US$0.691 per AUD...
Oil Prices Plunge Following U.S.-Iran Ceasefire
Crude oil prices plunged on Tuesday after President Trump announced a two‑week U.S.-Iran ceasefire, sending Brent futures down about 13% to roughly $95 a barrel and WTI about 14% to $96. The drop marks the steepest one‑day decline since the...
Oil Prices Plunge Below $100 After Iran Agrees to Safe Passage Through Strait of Hormuz During Ceasefire
U.S. West Texas Intermediate crude plunged 15% to $95.63 per barrel after President Donald Trump agreed to suspend attacks on Iran for two weeks in exchange for safe passage through the Strait of Hormuz. The cease‑fire, brokered with Pakistan’s prime...
The US Refinery Now Processing Venezuelan Oil
Chevron’s Pascagoula refinery in Mississippi is now processing about 250,000 barrels of heavy Venezuelan crude each day, with plans to lift volumes toward 350,000‑400,000 barrels. The refinery was specifically designed for sour, high‑sulfur oil, giving Chevron a domestic pathway from...
Claims Wild-Caught Australian Seafood Will Soon 'only Be Afforded by the Rich'
Australian wild‑caught seafood is facing a steep price surge as fuel costs for fishing vessels have doubled, pushing operating expenses from $54,000 to $100,000 per trip. A permanent ban on demersal fishing in Western Australia and the recent collapse of...
Live: Markets Brace for Iran War Deadline, Oil Prices Fall on Deal Hopes
Physical crude prices have surged to near $150 a barrel as Iran’s closure of the Strait of Hormuz cuts roughly 12 million barrels per day from global supply. Dated Brent, the benchmark for immediate delivery, is trading about $20 above June...
War-Driven Supply Squeeze Could Boost US Resins Exports in 2026
U.S. resin exporters are poised for another strong year in 2026 as the war in the Middle East tightens global feedstock supplies. Damage to Qatar’s Ras Laffan LNG plant and the shutdown of Iran’s South Pars gas field have curtailed ethane and...
ASX Copper Players Step Into Action as Supply Shortage Looms
Copper prices surged to a record US$14,500 per tonne in January before easing below US$13,000, reflecting both short‑term disruptions and a long‑term supply deficit. The International Energy Agency warns of a 30% global copper shortfall by 2035 as ore grades...
Can AI Get You Cheaper Gas? New Tool Promises Savings at the Pump
AI-driven website The Gas Index offers drivers real‑time, geolocated gas price data, helping them locate the cheapest pump. Built entirely with Claude Code, the platform pulls station prices through Google’s API and lets users specify their car model to estimate...
Fastmarkets to Change Frequency of US Delivered Tin Price
Fastmarkets announced that its US‑delivered tin price will now be published quarterly, shifting from more frequent updates. The change follows a methodology review that identified low spot liquidity and price volatility, and it was supported by market participants. The new...
Fertilizer Spike Adds up to $35/Acre for US Corn as Iran Crisis Deepens
Rising fertilizer prices triggered by the effective closure of the Strait of Hormuz have created a sharp supply shock for nitrogen, phosphate and sulfur products. Rabobank estimates the urea price surge adds up to $35 per acre to US corn...
How Serious Will the Jet Fuel Crisis in Europe Become?
Jet fuel prices have jumped 95% since the February attacks on Iran, as the closure of the Strait of Hormuz cut roughly 20% of global seaborne jet‑fuel supply. European airports are already imposing restrictions, and airlines such as SAS have...