Oil Cos Weigh Refinery Price Freeze; Move May Hit MRPL, CPCL
State‑owned oil marketing companies (OMCs) are weighing a freeze or discount on the refinery transfer price (RTP), paying refiners less than import‑parity rates to curb losses from a retail fuel price freeze. Global crude prices have surged above $100 per barrel while Indian petrol and diesel prices have remained unchanged since April 2022, forcing OMCs to absorb the cost gap. The proposal would hit standalone refiners such as MRPL, CPCL and HMEL, which lack downstream marketing margins, more than integrated firms like IOC, BPCL and HPCL. Analysts warn the move could also extend to private refiners, reshaping margin dynamics across the sector.
JPMorgan Says Higher Oil Prices Could Spark a 'Domino Effect' That Tanks the S&P 500 by 15%
JPMorgan warned that Brent crude staying above $90 a barrel could trigger a 10‑15% correction in the S&P 500, creating a domino effect across global equities. The bank estimates the equity decline would shave about 1% off U.S. consumer spending through...
Kevin O'Leary Says Iran's Strait Of Hormuz Threat Shows World Still Depends On Oil, Alternative Energy 'Didn't Deliver'
Kevin O'Leary warned that Iran's threat to mine the two‑mile‑wide Strait of Hormuz underscores the world's ongoing reliance on oil. He highlighted that oil is the only commodity used across every sector, including by adversarial nations. O'Leary noted that securing...
Gasoline, Diesel Prices Seen to Spike Again
Diesel and gasoline prices in the Philippines are set to spike again this week, driven by the ongoing war in the Middle East. The Mean of Platts Singapore benchmark, combined with freight costs, suggests diesel could rise up to P23...
Gold and Silver in India: Beyond Tradition, A Strategic Allocation
Gold and silver prices in India have shown heightened volatility as global macro factors and Middle East tensions influence market sentiment. On the MCX, April gold futures fell 0.6% to ₹1,60,651 per 10 gm, while May silver futures slipped 0.29% to...
DRC Govt Reviews Oil Market Risks With Petroleum Distributors
The Democratic Republic of the Congo’s Deputy Prime Minister Daniel Mukoko Samba met with the Professional Group of Petroleum Product Distributors on March 10, 2026 to assess global oil market volatility. The discussion focused on the recent Brent crude surge...
Jet Fuel Prices Soar as War in Iran Ripples Through Global Aviation
Jet fuel prices have spiked to $150‑$200 a barrel after the U.S.–Israel attack on Iran, more than doubling pre‑conflict levels. The surge, compounded by the closure of the Strait of Hormuz, is forcing airlines such as Qantas, SAS and Air...
US Pummels Iran’s Key Kharg Island Terminal
The United States launched a missile strike against Iran’s Kharg Island terminal, the country’s main oil export hub, late Friday and early Saturday local time. The attack targeted the facility that handles roughly 30% of Iran’s crude shipments, aiming to...
Saudi Arabia Drives OPEC Output Higher Ahead of Iran Conflict, Survey Shows
OPEC’s crude output jumped 640,000 barrels per day in February, the steepest rise since June, driven largely by Saudi Arabia’s production increase. The kingdom lifted output by roughly 340,000 bpd to 10.34 MMbpd and later signaled an additional boost of about...
U.S. Begins 86 MMbbl Strategic Petroleum Reserve Release
The Trump administration has initiated an 86 MMbbl drawdown from the Strategic Petroleum Reserve, the first phase of a 172 MMbbl release slated for four months. This move is part of a broader 400 MMbbl coordinated effort with allied nations to ease soaring...
Why Oil Probably Won’t Go to $150 a Barrel
Brett Arends argues that oil prices are unlikely to surge to $150 a barrel, despite recent sensational forecasts on Wall Street. He outlines three reasons to doubt the panic, emphasizing that speculative headlines often ignore market fundamentals. The piece critiques...
How the Conflict in Iran Is Impacting the Global Energy Market
The ongoing U.S.-Israel conflict with Iran is beginning to ripple through the global energy market, prompting concerns about oil shortages and higher prices. A panel on Washington Week with The Atlantic highlighted rising gasoline costs and the lack of a...
U.S. Gas Prices Jump Amid Ongoing Fighting in Persian Gulf
U.S. gasoline prices have surged nearly 30% year‑to‑date, reaching $3.64 per gallon as the Persian Gulf conflict tightens oil supplies. Brent crude climbed to $103 a barrel and WTI to $98.7, up roughly 70% since the start of 2026, driven...
Chip Material Prices Double as Middle East Conflict Compounds China's Existing Gallium Export Ban — Wide Range of Materials for...
Prices for key compound‑semiconductor metals have surged, with tungsten, tantalum and molybdenum doubling and gallium climbing 123% to $2,100 per kilogram. The spike follows China’s late‑2024 gallium export ban to the United States and is amplified by the Middle East...
US Says Can Provide 'Reliable' Energy Supply to Asia-Pacific
U.S. Interior Secretary Doug Burgess announced that the United States can provide a reliable, affordable and secure energy supply to the Asia‑Pacific amid the Middle East war that has disrupted oil flow through the Strait of Hormuz. The Trump administration’s...
Higher Oil Prices Are Just a Short-Term Worry
Oil prices have surged sharply this month, driven by geopolitical friction and OPEC+ output curbs, but analysts argue the rally is transitory. Global inventories remain ample and demand growth is modest, limiting upward pressure. Historical data shows oil’s price cycle...
Thai Refiner Makes Rare Purchase of North Sea Crude
Thai refiners have secured a rare cargo of North Sea Forties crude, purchasing roughly 700,000 barrels from Trafigura for a late‑March shipment. This marks the first Thai acquisition of North Sea oil since Bloomberg began tracking in 2019, highlighting a...
U.S. Officials Have Discussed Trading Oil Futures, Burgum Says
U.S. officials, including Interior Secretary Doug Burgum, confirmed that the Trump administration has discussed using oil futures contracts to temper soaring crude prices amid the escalating Iran‑Israel conflict. While the idea was explored, Burgum said no concrete market intervention has...
Brent Tops $103 as Traders Shun Risk Before Weekend
Brent crude futures climbed above $103 a barrel on Friday, extending their run into triple‑digit levels. The rally was driven by traders’ concerns over a potential prolonged disruption of Gulf oil supplies amid the ongoing regional conflict. Simultaneously, several governments...
European Power Prices Held Hostage to High Gas Costs
European power markets are experiencing a sharp price surge as gas costs climb sharply following the outbreak of war in the Middle East. Major gas hubs across Europe have seen prices more than double, pushing gas‑fired electricity tariffs to roughly...
Will US LNG Exporters Defer Maintenance to Free Up Supply?
U.S. liquefied natural gas (LNG) exporters are considering postponing scheduled maintenance to increase available cargoes amid a tightening global gas market caused by the Middle East conflict. Current export terminals are operating near peak capacity, leaving little slack for unexpected...
What Happens at $200 a Barrel?
Economists warn that a sustained $200 per barrel WTI price would trigger a systemic shock to the U.S. economy. At that level, gasoline could top $7 per gallon, eroding over $400 billion in discretionary consumer spending and deepening energy poverty. The...
Hawley Questions Top Fertilizer Companies on Price Spikes
Senator Josh Hawley sent letters to the five largest U.S. fertilizer producers—CF Industries, Mosaic, Koch Fertilizer, Nutrien and Yara—demanding an explanation for a sharp two‑week price surge. He warned that any exploitation of the Iran conflict to justify higher prices...
Sky-High Oil Prices Are About to Hit Puerto Rico’s Grid
The ongoing Iran‑Israel conflict has effectively closed the Strait of Hormuz, pushing global crude to around $100 a barrel. Puerto Rico, which generates roughly 60 % of its electricity from aging oil‑fired plants, will see its regulated power rates rise when...
Asian Buyers Eye Floating Russian Barrels After US Waiver
On Thursday, the U.S. Treasury issued a one‑month waiver permitting the sale and purchase of Russian crude and refined products stored on floating vessels. The exemption, intended to alleviate market bottlenecks, sparked immediate criticism from European officials who argue it...
Energy Intelligence Uranium Market Update: Mar. 13, 2026
Energy Intelligence’s March 13 uranium market update highlights rising geopolitical tension and supply‑chain strain. Experts warn a U.S. plan to extract Iran’s highly enriched uranium could set a precedent, while small uranium producers confront heightened delivery risks amid logistics bottlenecks....
Middle East Conflict Sends Ammonia Prices Higher
Ammonia fertilizer prices have jumped as the Middle East conflict disrupts shipments from key producers, lifting European spot rates by roughly $50 per tonne. The region, responsible for 23% of global ammonia trade, saw vessels stranded and diverted, tightening supply....
How This Oil Supply Shock Compares With the Embargo of 1973
The article compares the present oil supply shock, triggered by Iranian retaliation against U.S. and Israeli strikes, with the 1973 Arab oil embargo. Experts say the current disruption is the largest ever, affecting a far greater share of global consumption...
Pipeline Maintenance, OFO Create Mixed Signals for Natural Gas Spot Prices
U.S. natural gas markets face heightened volatility as a series of pipeline constraints converge with an early‑season cold snap. Transco’s on‑frequency outage (OFO) throttles flow into the Northeast, while Gulf Run maintenance curtails Haynesville takeaway capacity and Creole Trail work...
Chinese PV Industry Brief: Wafer Prices Fall on Weak Demand
The China Nonferrous Metals Industry Association reported that polysilicon and wafer prices fell sharply this week, with n‑type re‑feed and dense polysilicon down about 6.4% to CNY 45,200 per tonne. Wafer prices slipped as well, with G10L at CNY 1.03, G12R at...
Gold Loses Sheen as Dollar Gains Strength
Gold’s recent slide underscores the classic inverse relationship between the precious metal and the U.S. dollar. After two consecutive weeks of losses, the spot price slipped to just under $5,100 per ounce, while the dollar index breached the 100‑point threshold,...
Beef Costs Exceed Burger Prices, Pressuring QSRs
Beef production costs have jumped 32% since January 2023, while restaurant burger prices have risen only 14%, according to Datassential’s Burger Price Index. The increase mirrors overall food‑away‑from‑home inflation of 13% but varies by segment, with limited‑service burgers up 16% versus...
Mexico Imports Near 7 Bcf/D as Middle East War Adds Upside Risk to Natural Gas Prices
Mexico’s natural gas imports have surged to nearly 7 billion cubic feet per day (Bcf/d), approaching a new record as U.S. pipeline exports climb from roughly 5 Bcf/d in early 2023 to peaks above 8 Bcf/d in 2025‑26. Prices at the Agua Dulce hub...
What Is Dictating Solar Module Price Increases?
Solar module price growth is now driven primarily by five cost pillars: silver paste, polysilicon, glass, aluminium, and energy‑water inputs. Silver paste remains the largest single expense, with record‑high silver prices in early 2026 inflating cell costs. Polysilicon, accounting for...
Portugal's Food Basket Cost at All-Time High but Not Due to Iran War
Portugal's consumer price index for a basket of essential foods hit a record €254.12, up €12.30 (5%) from early 2026 and 35% above 2022 levels. DECO says the surge cannot yet be linked to the Iran war, pointing instead to...
Ongoing Tariffs, Iran War Weigh on Aluminum Prices
U.S. Section 232 tariffs on aluminum and tinplate steel remain at 50%, despite a Supreme Court ruling that struck down broader trade measures. The Midwest Premium for aluminum broke the $1‑per‑pound barrier in January 2026, pushing input costs for metal‑packaging producers...
‘Clear Warning Signs’ as PJM Wholesale Power Costs Jump 54% in One Year
PJM Interconnection’s wholesale power costs surged 54% in 2025, reaching $67 billion. Capacity expenses exploded 262%, now 16% of total costs, exposing a 6,500 MW shortfall for the 2027/2028 auction. The spike is driven by rapid data‑center load growth, prompting the independent...
Brazil Imposes 12% Tax on Crude Exports Amid US-Iran War
Brazil announced a provisional measure that eliminates federal PIS and Cofins taxes on diesel for domestic consumption while imposing a 12% export tax on crude oil and a 50% levy on diesel shipments. The move, driven by soaring crude prices...
As Global Cotton Firms up and Rupee Weakens, CAI Pares 2025-26 Cotton Import Projections
The Cotton Association of India (CAI) trimmed its 2025‑26 cotton import forecast to 47 lakh bales, down three lakh from the earlier 50‑lakh estimate, citing higher international prices, a weaker rupee and rising freight costs. Despite the cut, imports remain above...
Cut in Gas Supply Puts Many Steel Companies in the Dock
Ongoing industrial gas shortages in India have compelled many steel producers to slash output or shift to higher‑value products to offset rising costs. The sharp depreciation of the rupee has further inflated coking‑coal import prices, while higher shipping and insurance...
Silver Sinks 2% to ₹2.62 Lakh/Kg in Futures Trade as Inflation Worries Weigh
Silver futures on India’s Multi Commodity Exchange fell 2% to ₹2.62 lakh per kilogram, a ₹5,354 drop, as crude‑oil prices rose and inflation concerns intensified. The decline mirrored a near‑3% slide in May COMEX contracts, pricing at $82.89 per ounce. Analysts...
Terence Corcoran: Oil and the Art of Forecasting
Oil prices have surged above $100 a barrel, prompting wildly different forecasts. The U.S. Energy Information Administration sees prices staying above $95 for two months before falling to $70 by late 2026, while Wood Mackenzie warns of possible spikes to...
Egg Prices Have Taken a Beating. What's Behind the Drop?
Egg prices have plunged to roughly $2.50 per dozen, a 42% drop from a year ago, as avian‑flu outbreaks receded and an additional nine million hens returned to production. Meanwhile, the wholesale price paid to farmers has slumped more than...
Don’t Use Oil Price Chaos to Hike Prices Says Miliband
UK Energy Secretary Ed Miliband warned that firms will not be allowed to profit from the recent surge in global oil prices caused by Middle East tensions. The Competition and Markets Authority has been placed on high alert to curb...
Iron Ore Heads for Biggest Weekly Gain
Iron ore futures are set for their biggest weekly gain in over a year as China’s state‑backed buyer, the China Mineral Resources Group (CMRG), expands restrictions on BHP products. Singapore‑listed contracts rose more than 6 % this week, reaching nearly $109...
US Offshore Wind Could Drive $42bn Steel Demand
New Oceantic Network research estimates U.S. offshore wind will create $42 billion in steel demand over the next two decades. The sector would require roughly 22 million tons of steel, enough for 239 Golden Gate Bridges. This demand could support 186,600 jobs...
Oil at $100 a Barrel Promises Boon for Africa’s Largest Country
Algeria’s economy, heavily dependent on oil and gas, stands to gain as crude prices climb toward $100 a barrel. The surge follows geopolitical tensions, first from Russia’s invasion of Ukraine and now the war in Iran, which have lifted global...
Hong Kong Gov’t Urged to Stabilise Oil Prices as some Residents Turn to Illicit Fuel Amid Middle East War
Hong Kong lawmakers are pressing the government to curb soaring fuel prices that have risen sharply since the Middle East conflict began in late February. Esso’s standard petrol is up 6.4% to HK$23.43 per litre, while Sinopec’s price has jumped...
Brent Crude Gains Despite US Issuing a 30-Day Licence for Russian Oil Purchases
Brent crude futures edged higher to $100.64 a barrel on Friday, even as the U.S. Treasury issued a 30‑day licence permitting the sale of Russian oil already stranded at sea. The temporary measure is framed as a market‑stabilising tool that...
Russian Oil Purchase Allowed… for Now — Scott Bessent Announces ‘Short-Term’ Licence as Crude Prices Rise Amid Iran War
U.S. Treasury Secretary Scott Bessent announced a short‑term general licence that lets countries buy Russian crude already stranded at sea, aiming to ease the price surge triggered by the U.S.-Israel‑Iran conflict. The licence covers oil loaded onto vessels by March 12...