Energy Security Drives Coal ETF Assets to Double in March
The Range Global Coal Index ETF (COAL) saw assets double in March as investors rushed into coal amid heightened energy‑security concerns triggered by the Persian Gulf conflict. COAL climbed just over 11% in the month and has delivered roughly 60% total return over the past year. The crisis has pushed policymakers in Europe and Asia to re‑evaluate coal’s role, with Germany and Japan eyeing plant reactivations despite long‑term decarbonisation goals. Coal’s price resilience—up 17% versus a 67% surge in European LNG—underscores its appeal as a bridge fuel.
Oil Prices Surge After Trump Vows To Hit Iran ‘Extremely Hard’
President Donald Trump warned of a two‑to‑three‑week escalation against Iran, sending oil markets into a frenzy. Brent crude surged more than 10% to breach the $100‑per‑barrel mark, while the 10‑year Treasury yield climbed above 4.3%. Mortgage rates followed, jumping to...
Energy Markets Are Tightening. The Supply Chain Impact Is Uneven.
Energy markets are tightening, but the impact on supply chains is uneven and delayed. Transportation contracts, surcharges, and caps cause cost pass‑through to lag weeks or months, while energy‑intensive manufacturers feel pressure immediately. The staggered transmission creates a patchwork of...
Baker Hughes Total Rig Count 548 versus 543 Previously
U.S. drilling activity nudged higher this week as Baker Hughes reported a total rig count of 548, up from 543 the prior week. Oil rigs increased to 411, while natural‑gas rigs rose to 430. Crude oil prices jumped to $110.75...
US Seeks Bids for 10mn Bl Crude Release From SPR
The U.S. Department of Energy announced a second round of exchange contracts to loan up to 10 million barrels of sour crude from the Strategic Petroleum Reserve, with 2 million barrels available in April and 8 million in May. Companies must return the...
Newfoundland Snow Crab Harvesters Union Decries Price-Setting Process Once Again as Season Closes In
Newfoundland’s Fish Food and Allied Workers Union (FFAW) has again denounced the provincial snow‑crab price‑setting process as inadequate, accusing the Association of Seafood Producers (ASP) of offering a price below last year’s level despite a stronger market. After 13 hours...
Gas Prices Boosting and Biting State Budgets
Crude oil prices have surged past $100 a barrel, delivering a short‑term windfall for oil‑producing states that rely on severance taxes. Alaska’s revenue forecast rose to $6.5 billion, up $0.5 billion from the prior estimate, while North Dakota and Alaska already collect...
Correction to Steel Hot-Rolled Coil Index Domestic, Exw Northern Europe and Inferred Prices: Pricing Notice
Fastmarkets corrected a reporting error in its hot‑rolled coil (HRC) index for domestic EXW Northern Europe, changing the price from €711.50 to €713.08 per tonne (approximately $784). The same notice fixed two inferred price ranges: green‑steel base price now €813.08‑883.08...
Europe Diesel at Four-Year High Above $200 as Iran War Disrupts Supply
European diesel prices have climbed above $200 per metric ton, marking the highest level in four years. The surge is driven by supply disruptions stemming from the ongoing war in Iran, which has curtailed regional fuel exports. European refiners are...
Central Banks Gold Purchases Net up in February, but Russia, Turkiye Sell
Central banks bought a net 19 tonnes of gold in February, led by Poland’s 20‑tonne purchase and Uzbekistan’s 8‑tonne addition. China logged its 16th consecutive month of net buying, while the Czech Republic marked a 36‑month streak. Turkey and Russia...
Russia Bans Gasoline Exports as More Refineries Hit
Russia announced a full ban on gasoline exports from April 2 through July 31, expanding earlier limits to include all producers, including refineries. The decision follows a string of refinery outages that have shaved roughly 10% off domestic fuel output. By halting...
Fertilizer Traders Cash in on War Profits, Farmers Pay the Price
American fertilizer traders are re‑exporting over 100,000 short tons of phosphate fertilizer after the Iran war created a price gap between U.S. spot markets and overseas demand. Domestic prices linger around $700 per short ton while farmers cut back on...
Asian Buyers Remain Wary of Iran Oil Sanctions Waiver
The Trump administration issued a 30‑day waiver that temporarily allows Iranian crude to be sold at sea, aiming to ease global oil market pressure. Two weeks after the announcement, Asian buyers remain hesitant, citing heightened compliance and reputational risks. The...
New Zealand Rethinks LNG Imports Amid War-Driven Prices
New Zealand’s newly appointed energy minister has publicly questioned the viability of the country’s planned liquefied natural gas (LNG) import terminal. The skepticism comes as the war in the Middle East has driven global LNG prices to multi‑year highs, making...
India Approaches Fertilizer Producers as Iran War Curbs Supplies
India is actively courting major nitrogen and phosphatic fertilizer producers to secure direct imports as the Iran‑related conflict disrupts traditional supply routes. Officials have opened talks with Russia, Indonesia, Malaysia, Vietnam, Algeria and Egypt, while also seeking urea from China....
Morocco’s OCP to Cut Production in 2Q
Morocco’s OCP Group announced accelerated maintenance that will curtail up to 30% of its second‑quarter production capacity. The shutdown affects key fertilizer lines, including DAP, MAP and TSP, after the firm cited tightening supplies of sulphur and ammonia. Last year...
Reject Talen-Energy Capital Power Plant Deal, PJM Market Monitor Tells FERC
Federal regulators are being urged to reject Talen Energy’s proposed purchase of about 2.6 GW from Energy Capital Partners because the deal would amplify Talen’s market power in the PJM Interconnection. Monitoring Analytics warns the acquisition could pull capacity out of...
Singapore Bunker Supply Continues to Run Down as Middle East War Drags On
Singapore, the world’s largest bunkering hub, sold 56.2 million metric tons of bunker fuel in 2025, a 3.2% increase year‑over‑year. Over half of its fuel imports travel through the Strait of Hormuz, which has been effectively closed since the Middle East...
ARA Crop-Based Fame Cheaper than Diesel for First Time
For the first time, European crop‑based biodiesel (FAME) traded below ICE gasoil, with the benchmark Fame 0 discounting diesel by $25‑78 per tonne in early April. The price gap stems from Middle‑East supply shocks that have pushed diesel to multi‑year highs....
Hormuz Disruption Roils African Oil Markets, Economies
A prolonged shutdown of the Strait of Hormuz is set to severely disrupt oil flows to and from sub‑Saharan Africa, threatening export revenues and import costs across the region. The bottleneck pushes global freight rates higher and forces African refiners...
The Conflict Is Disrupting More than Just Energy Flows, What Do Investors Need to Watch For?
The closure of the Strait of Hormuz is choking the flow of more than 20% of global oil, 25% of LNG and a suite of critical industrial inputs such as phosphate fertilizer, sulfur and urea. These constraints are creating a...
How Long Can the Bank of Canada Look Through a US$100 Oil Shock?
BMO projects Canadian inflation edging just above 3% in April as oil prices breach $100 per barrel, yet the Bank of Canada keeps its policy rate steady at 2.25%. The governing council said it will "look through" the temporary energy...
Cotton Yarn Prices Surge in Tirupur Amid Global Market Pressures
Cotton yarn prices in Tirupur jumped Rs 10‑12 per kilogram (US$0.11‑0.13) on the first day of the new fiscal year, extending a series of hikes of Rs 7 per kilogram in February and March. The price of a candy (356 kg) of cotton...
StanChart Warns OPEC+ Could Abandon Cuts at Next Meeting
Standard Chartered’s energy research head Emily Ashford warned that the OPEC+ meeting on April 5 could see the group abandon its voluntary output cuts and associated compensation cuts, effectively unwinding the remaining April 2023 adjustments. She highlighted that eight OPEC+ members, led...
Correspondence: Registering with and Reporting Your Fuel Prices to Fuel Finder
The Competition and Markets Authority (CMA) has issued an open letter urging all road fuel retailers to register with the government’s Fuel Finder platform and to report any price changes within 30 minutes. Starting 1 May 2026, the CMA will actively enforce...
Carbon - In Focus: UK ETS Widens Discount to EU in Q1
The UK emissions trading scheme (ETS) front‑year contract widened its discount to the EU ETS in Q1, averaging £14.75 per tonne of CO₂e (about $19) and swinging between £6.85 and £25 per tonne. This is the broadest quarterly gap since...
Fuel Prices Are Soaring. Plastic Could Be Next.
The ongoing Iran‑related conflict has closed the Strait of Hormuz, pushing crude oil above $100 per barrel and gasoline past $4 a gallon in the United States. The spike is reverberating through petrochemical feedstocks, especially naphtha, where Asian prices have...
Oil Hikes 7% After Trump Says US-Israel Will Keep Striking Iran
Oil prices surged nearly 7% on Thursday after President Donald Trump warned that the United States and Israel would continue striking Iran, reigniting concerns over supply disruptions. Brent crude rose to $108.81 a barrel and U.S. WTI to $107.18, marking...
High Fuel Costs Lead Nearly Half of Thai Fishing Fleet to Tie up, Sparking Supply Fears
Escalating fuel costs have forced more than 40% of Thailand’s commercial fishing fleet to dock. Fuel prices jumped nearly 120% in a month, making trips financially unsustainable. The government responded with a seven‑point aid package, including a discounted biodiesel subsidy,...
Atlantic Salmon From Norway Prices Decline Again in Run-Up to Easter
Norwegian farmed Atlantic salmon prices slipped again ahead of Easter, marking a second consecutive weekly decline. The Sitagri Salmon Index reported a 5.4% week‑over‑week drop for the 3‑6 kg category, with the average price falling to NOK 91.01 per kilogram (≈ USD 9.41). The...
Rice Imports Seen to Rise 15.9%, as Output Grows 0.4% – USDA
The USDA’s Foreign Agricultural Service projects Philippines rice production to rise modestly 0.4% to 19.68 million metric tons in marketing year 2026‑27. Despite this slight gain, imports are expected to jump 15.9% to 5.10 MMT as the country lifts a four‑month import...
Iran Conflict Highlights Vietnam’s Energy Security and Foreign Policy Vulnerabilities
The Iran‑Israel war has shut the Strait of Hormuz, driving global oil and LNG prices to record highs and exposing Vietnam’s reliance on imported fuels. Since February, gasoline prices have jumped 50% and diesel 70%, prompting fuel shortages and longer...
Copper Companies with Exposure to Grid Expansion>
Copper is emerging as a strategic bottleneck as grid modernization, electric‑vehicle adoption, and AI‑driven data centers drive unprecedented demand. Its conductivity and durability make it essential across power generation, transmission, distribution, and digital infrastructure. Investors can access exposure through pure‑play...
Australian Wool Auction Market Rebounds Strongly
Australian wool auctions rebounded after two weeks of declines, with 36,252 bales offered on the opening day. Prices rose across all grades, especially for high‑yield Merino fleeces, pushing the Eastern Market Indicator up 62 cents to 1,786 cents/kg clean. Currency fluctuations...
How The Basic Fuel Price Is Calculated: A Breakdown
South Africa calculates its Basic Fuel Price (BFP) using an import parity model that mirrors international crude prices, freight costs and the Rand‑US dollar exchange rate. The Department of Mineral and Petroleum Resources (DMPR) incorporates FOB values from Mediterranean, Arab...
Silver Crashes Rs 14,000/Kg, Gold Dips Rs 2,600/10 Grams as Trump's Plan to Hit Iran ‘Very Hard’ Reignites Inflation Fears....
U.S. President Donald Trump’s televised warning of a “hard” strike on Iran sent shockwaves through commodity markets, prompting sharp drops in precious metals on India’s MCX exchange. Silver futures for May 2026 fell 5.5% to Rs 2.29 lakh per kilogram (≈ $2,770 per ounce),...
ACCC Monitors Fuel Excise Cut, Fuel Surcharges and Fuel Price Movements
The Australian Competition and Consumer Commission (ACCC) has ordered fuel retailers to pass on the latest federal fuel excise reduction of about 5.7 Australian cents per litre (≈3.8 US cents) as quickly as possible. This follows an earlier 26.3‑cent cut...
Beyond Oil: The Macroeconomic Impact of Commodity Supply Disturbances
A new CEPR paper shows that supply disruptions in non‑oil commodities—metals, grains, livestock—affect inflation and industrial production as strongly as traditional oil shocks. Using textual analysis of over one million news articles, the authors construct daily supply‑demand proxies for 20...
LNG Powerhouse Australia Leans on Export Strength to Weather Energy Shock
Australia’s liquefied natural gas (LNG) sector is leveraging record export volumes to offset a sharp domestic energy price shock caused by global supply disruptions. In 2023 the country shipped roughly 70 million tonnes of LNG, generating about $30 billion in export revenue....
Some French Gas Stations Run Dry
Hundreds of French gas stations ran out of fuel after the government imposed price caps to curb soaring costs caused by Middle East supply disruptions. TotalEnergies accounts for about 700 of the 900 stations that reported shortages, a logistical bottleneck...
Beyond the Glitter: Rethinking Gold Strategy as Volatility Returns
Gold suffered its steepest monthly decline since 2011, sliding more than 13% in March as a surging U.S. dollar and fading expectations of Federal Reserve rate cuts sapped demand. The sell‑off exposed the limits of treating bullion as a pure...
Energy Woes Shine a Light Back on Uranium
Geopolitical tensions from the Iran‑related oil and gas shortages are reigniting interest in nuclear power as governments seek energy security. About 70 reactors are under construction worldwide, driving a renewed focus on uranium, which remains in a long‑term supply deficit....
Strong Dairy Market Growth to Continue in 2026 and Beyond
Global dairy production hit record levels in 2025, driven by unprecedented herd growth in the United States. US milk output rose 2.8% year‑over‑year, and cheese exports surged 20% beyond the previous record. While Europe is expected to trim output to...
Gas Prices Hit Records in 2026: State by State Breakdown
U.S. gasoline prices have surged to multi‑year highs, with the national average for regular unleaded reaching $4.06 per gallon as of April 1, 2026. California tops the list at $5.89 per gallon, while Oklahoma offers the cheapest fuel at $3.27. Year‑over‑year increases...
Coal India Misses FY26 Annual Production Target by Wide Margin
Coal India’s FY26 coal output fell 1.7% to 768.1 million tonnes, missing its 875 mt target by a wide margin. Four of its seven subsidiaries—BCCL, CCL, WCL and MCL—recorded production declines, largely blamed on heavy rains in Jharkhand and Maharashtra. Offtake also...
Another Energy Crisis Is Here. This Time, the Way Out Is Different.
Disruptions in the Strait of Hormuz have created the largest oil supply shock in IEA history, affecting roughly one‑fifth of global oil, LNG and fertilizer flows. The shock quickly translates into higher fuel and food prices, weaker currencies and tighter...
IndiGo Revises Fuel Charges as ATF Costs Soar
IndiGo announced a revision of fuel surcharges on both domestic and international routes effective April 2, after air turbine fuel (ATF) prices surged more than 130% month‑on‑month. The Indian government limited the domestic surcharge increase to 25%, prompting the airline...
The Feds Say Cutting Fuel With Ethanol Will Bring Down Gas Prices. We’re Not Buying It
The EPA announced a waiver that extends the sale of E15 gasoline—fuel blended with 15% ethanol—well into the summer months, aiming to shave up to $0.25 off the pump price. While E15 is already available in some regions, its limited...
Iraqi Civilians Are Paying the Price of the Iran War
The U.S.-Israeli conflict with Iran is spilling into Iraq, where rockets and drones have struck near Baghdad and Erbil, disrupting daily life. Oil exports are faltering after Iranian attacks on tankers and a force‑majeure declaration on foreign‑operated fields, threatening the...
Iran War Forces Small Dairies to Hedge Like Multinationals
Small and medium-sized dairy firms are turning to corporate‑level hedging tools as the US‑Israeli conflict with Iran drives volatile fuel and commodity prices. Attara reports a 300% jump in hedging activity among agricultural SMEs, with swaps becoming the preferred instrument...