Citi Sees Oil ‘Moving Around Like Crazy’ in Hope-and-Fear Dance
Citigroup’s global head of commodities research Max Layton warned that oil prices will remain wildly volatile until a clear outcome emerges from the ongoing US‑Iran conflict. He highlighted the difficulty of predicting Iran’s actions under its new leadership, saying markets will be "moving around like crazy." The comment was made on Bloomberg Television’s Surveillance program. The uncertainty centers on whether President Donald Trump and Iran can strike a deal to end the war.
Gold Fields Lists 'Significant’ Price Increases Caused by US-Iran War
Gold Fields reported a sharp rise in mining costs during Q1 2026, with all‑in sustaining costs (AISC) up 13% to $1,829 per ounce and all‑in costs (AIC) up 10% to $2,046 per ounce. The increases stem from higher diesel, explosive,...
Marinakis Gas Carrier Firm CCEC Speeds up Newbuild Deliveries in Market Boom
Capital Clean Energy Carriers (CCEC), owned by Evangelos Marinakis, announced it will accelerate the delivery of three of its nine LNG carriers. The firm arranged with Hyundai Samho Heavy Industries to receive the vessels ahead of schedule. This move aims...
If The World Ran Out Of Gas, What Would You Drive?
Jalopnik asks readers to imagine a world without gasoline as U.S. pump prices hit $4.53 per gallon amid geopolitical tension with Iran. The article highlights how soaring fuel costs are pushing drivers to consider electric vehicles, conversions, or alternative transport...
Oil Falls Below $100 on Peace Deal Hopes
Oil prices slumped on Thursday, with Brent crude falling 4.3% to $96.96 a barrel and U.S. West Texas Intermediate dropping 4.7% to $90.64. The decline pushed Brent below the psychologically important $100 threshold, driven by fresh optimism that a U.S.-Iran...
Airlines Are Grappling with Dwindling Supplies of Jet Fuel
Airlines are confronting a sharp decline in jet‑fuel availability after the near‑total shutdown of the Strait of Hormuz, a key conduit for both crude oil and refined products. The blockage has halted the export of Gulf‑sourced jet fuel, driving prices...
Geopolitical Tensions Push Oil Trading Higher in Q1, easyMarkets Reports
Geopolitical tensions in early 2026 drove a sharp rise in crude‑oil trading on easyMarkets, making oil one of the fastest‑growing assets despite overall volume moderation after a hectic 2025. Gold stayed the platform’s most traded instrument, though activity fell about...
Oil Prices Slide on Hopes for Renewed U.S.-Iran Peace Talks
Oil prices fell on Thursday after President Trump announced that the United States had held “very good talks” with Iran, reviving hopes for renewed peace negotiations. The market reaction lifted U.S. equities while gasoline prices continued to rise, with regional...
Diesel Prices Squeeze US Farmers ‘Barely Getting by’ Amid Tariffs and Drought
U.S. farmers are confronting a sharp diesel price jump to about $5 a gallon as the war with Iran disrupts fuel markets, coinciding with the critical spring planting window. The surge follows a $34.6 bn loss from recent tariff retaliation, squeezing...
Strait of Hormuz Crisis: Fertilizer Scarcity Will Affect Next Harvests and Food Supplies, FAO Warns
The FAO warned that disruptions in the Strait of Hormuz are creating a global fertilizer shortage that will depress crop yields and tighten food supplies in the latter half of 2026 and into 2027. Director‑General QU Dongyu told the MED9++...
“Tomato Prices This Winter Were Among the Highest I’ve Seen in My 25-Year Career”
Tomato prices in winter hit a 25‑year high, with beef tomatoes topping €3 ($3.24) amid supply problems in Spain. Other vegetables show mixed trends: aubergines have fallen to about €0.70 ($0.76), cucumbers are plentiful, and green peppers trade at €2...
Oil Prices Fall Below $100 as U.S.-Iran Tensions Keep Traders Focused on Strait of Hormuz Risks
Oil prices slipped below the $100 mark on Thursday as geopolitical risk in the Middle East resurfaced. Brent crude fell 1.85% to $99.40 a barrel while U.S. WTI rose to $93.21, reflecting mixed market reactions. President Donald Trump warned that...
South African Miners Pivot to Atlantic Diesel Supplies
South African mining firms are redirecting diesel purchases from the Middle East to suppliers in the United States and Brazil. The shift follows a sharp rise in diesel prices linked to the ongoing conflict in the Middle East, which now...
Gold Prices Rally As Middle East Tensions Ease
Gold prices jumped about 1% on Thursday, with spot gold reaching $4,735.74 an ounce and June futures climbing to $4,742.64. The rally was driven by optimism around a potential U.S.–Iran peace deal and easing Middle East tensions, which also softened...
Gas Prices Keep Rising, but Do Big Oil Companies Plan to Drill More? Not so Far
Oil majors such as Chevron, ExxonMobil and ConocoPhillips are keeping production plans steady despite Brent crude trading above $100 per barrel after the Iran‑Hormuz conflict disrupted supplies. Executives cite uncertainty over the war’s duration and a disciplined capital strategy that...
Fertiliser Shortages to Have Dramatic Effect on Food Prices, Says Duke of Westminster’s Firm
Grosvenor Group, the Duke of Westminster’s property and farming conglomerate, warns that fertilizer shortages triggered by the Iran‑related closure of the Strait of Hormuz have pushed UK fertilizer costs up 50‑70% and could spark a dramatic rise in global food...
Prices for Salmon From Norway Climb Heading Into Week 19
Atlantic salmon exported from Norway rose sharply in Week 18, with the Sitagri Salmon Index showing continued gains into early Week 19. As of 3 May, the average global export price reached NOK 91.87 per kilogram (approximately $8.54 or €7.90), up nearly NOK 10 ($0.93) from the...
Physical Oil Market Does Not Run on Political Timelines
Rystad Energy says a potential U.S.-Iran peace deal is already pushing down oil futures, but physical markets will lag. It estimates a six‑to‑eight‑week gap between credible access to the Strait of Hormuz and a return to 80‑90% of pre‑disruption volumes,...
Stock Market Today: Oil Prices Extend Slide on Hopes of Talks
Oil prices fell about 3% to $98 a barrel as optimism grows over renewed U.S.-Iran talks to end the conflict and reopen the Strait of Hormuz. The dip coincided with a retreat in Treasury yields and a weakening dollar, which...
New Zealand Faces ‘Massive Negative Energy Shock’, OECD Warns
The OECD’s 2026 economic review warns New Zealand of a "massive negative energy shock" that could cripple export‑driven industries unless the country dramatically expands renewable electricity generation. It critiques the government’s $1 billion LNG port plan as a short‑term band‑aid that will...
RON95 and Diesel Prices up RM0.05/litre, Subsidised Petroleum Prices Maintained From 7-13 May
Malaysia’s Ministry of Finance announced a 5‑sen increase for RON95 to RM4.02 ($0.88) per litre and diesel to RM5.17 ($1.14) per litre for the week of 7‑13 May, while RON97 stays at RM4.90 ($1.08). The government will keep subsidised fuel rates...
1973: War in the Middle East Causes Oil Crisis in Britain
In October 1973, Arab nations imposed an oil embargo after the United States air‑lifted $2.2 billion in weapons to Israel, causing global barrel prices to quadruple. Britain, though not formally targeted, responded with a 50 mph speed limit, petrol‑ration cards and saw...
Federal Labor Unveils Plans for Fossil Gas Reservation to Ensure Share of Production Is Not Exported
Energy Minister Chris Bowen announced a new east‑coast gas reserve that will require exporters to set aside 20% of their output for the Australian market starting July 2027. The reservation applies to contracts signed after the policy takes effect and...
The Spot Mirage: Low Wholesale Prices Show the Future, but Are a Poor Signal for New Wind and Solar
Wholesale electricity prices in Australia’s NEM have fallen so low that they cannot fund new wind or solar projects, creating a looming two‑year supply gap once the current 4 GW of large‑scale renewables are commissioned. The shortfall stems from oversupply, which...
World Bank Predicts Metals Price Rise in 2026
The World Bank projects a 17% rise in global metals and minerals prices in 2026, led by a 22% jump in aluminum and a 42% surge in precious metals. Strong industrial demand and ongoing supply disruptions in the Middle East...
Reframing Oil Pricing Strategy, Signals Balance Across Value Chain
The Thai government has tightened oil pricing policy by mandating a refining margin reduction to 5 baht per litre (about $0.14), up from 2 baht ($0.06). This move intensifies pressure on refiners, who already operate on thin margins below 1 baht/L ($0.03) and...
Texas Regulator Highlights Record Oil Exports, Rising Production Amid Iran Disruption
Texas Railroad Commissioner Wayne Christian highlighted a record first‑quarter at the Port of Corpus Christi and Diamondback Energy’s plan to boost drilling and exports, linking the surge to Iran‑related supply disruptions. He credited years of state investment in drilling capacity...
Senate Ag Schedules Fertilizer Hearing
The Senate Agriculture Committee will hold a hearing on May 12 to examine the persistent rise in fertilizer prices and the challenges of securing a stable supply for U.S. growers. Witnesses include Corey Rosenbusch of the Fertilizer Institute and representatives from...
Rising Wholesale Power Prices: What Energy Buyers, Developers, and Lenders Need to Know About PPA Risk in 2026
U.S. wholesale electricity prices surged in 2025, with year‑on‑year gains of 62% in New York, 60% in New England, and 45% in PJM, driven by higher natural‑gas costs and tightening capacity markets. Despite a record 54 GW of new utility‑scale generation...
Iran War Boosts Russia April Oil Tax Revenue to 6 Month High
Russia’s federal oil tax receipts jumped to 707.1 bn rubles (about $9.5 bn) in April, the highest level since October, as the Urals crude price climbed to $77 per barrel amid the Iran‑related supply shock. The surge was partially offset by record...
Competition Intensifies for Cropland Close to SE Wisconsin Dairies
Farmland values in southeastern Wisconsin have jumped 25%‑35% since December, according to Compeer Financial appraiser David Kluck. The surge stems from a tight supply of cropland and heightened interest from large dairies seeking nearby land to spread manure. Proximity matters...
Not All Oil Giants Are Prospering From the Iran War
Oil prices have surged amid the Iran‑Russia conflict, with Brent averaging $118 per barrel in Q1 2026, far above analysts’ $60 forecast. While the higher price environment should lift all majors, U.S. giants Exxon Mobil and Chevron are seeing only modest margin...
Starved Supply Feeds Strong Profit Growth
Supply of nitrogen fertilizer remains tightly constrained by geopolitical tensions, export quotas and chronic underinvestment, while demand stays largely inelastic. The global market leader leverages low‑cost U.S. natural gas to achieve industry‑leading margins, growing revenue 11% and NOPAT 29% annually...
Why Is Gas So Much More Expensive in Some States Than Others?
Gasoline prices have surged about 50% since the Iran‑Israel conflict began, with the national average reaching $4.54 per gallon on May 6, 2026. California leads with $6.16 per gallon, while Oklahoma sits at $3.96, illustrating stark regional gaps. The price swing reflects...
Central Banks Turn Net Sellers of Gold for the First Time in 10 Months
For the first time in ten months, central banks were net sellers of gold in March, disposing of roughly 30 tonnes. Turkey led the outflows with a 60‑tonne sale, while Russia shed 6 tonnes, both citing liquidity and budget needs. In contrast,...
Online Sleuths Are Raising More Red Flags Around Suspiciously Timed Iran-War Oil Trades
Oil prices plunged after reports that the United States and Iran were close to a peace agreement, sending Brent down 11.9% and WTI over 13%. Data from The Kobeissi Letter revealed nearly $920 million in crude‑oil short contracts opened just an...
Oil Prices Drop and Stock Markets Rise After Reports of Deal to End Iran War
Oil markets fell and global equities rose after reports that the United States and Iran are close to a one‑page memorandum ending the war. Brent crude dropped to $97 (≈£73) per barrel before rebounding above $101, down from a peak...
Q&A: How the Strait of Hormuz Closure Affects Global Oil Supply
The closure of the Strait of Hormuz has halted the transit of roughly 20% of the world’s oil, sending shockwaves through global commodity markets. Tim Statts of Schneider Electric explains that despite the U.S. being the top oil producer, it...
Sustainable Funding for Agriculture
Food inflation in the Philippines surged to 6.1% in May, with rice prices up 13.7%, while fuel‑driven cost spikes hit fish and vegetables. The 2026 national budget earmarked ₱215 billion (≈$3.9 billion) for agriculture, a 38% increase, yet formal credit to farmers...
Opinion: A Fertilizer Crisis Is Driving up Costs — Don’t Waste a Homegrown Solution
Global supply shocks have driven U.S. fertilizer prices up as much as 40%, adding six‑figure costs to farmers. The article proposes using digestate—nutrient‑rich fertilizer from biogas digestion of manure and food waste—as a domestic alternative that can lower input costs...
Gold, Silver Firm up on Prospects of Easing US-Iran Tensions
Gold surged to ₹1,50,860 per 10 g (≈ $5,600 per ounce) and silver to ₹2,49,067 per kg (≈ $93 per ounce) as news of a possible US‑Iran peace deal lifted market sentiment. The rally coincided with Brent crude dropping 7% to about $102...
Norwegian Government Attacked over Decision to Reopen North Sea Gasfields
The Norwegian Labour government approved the reopening of three North Sea gasfields and the opening of 70 new offshore exploration areas, committing roughly $2 billion to restart the Albuskjell, Vest Ekofisk and Tommeliten Gamma fields by 2028. The move is framed as a...
Gas Prices Are Spiking. So Why Aren’t U.S. Oil Companies Drilling More?
U.S. gasoline prices have surged to around $4.50 a gallon as the Iran‑U.S. standoff blocks the Strait of Hormuz, trapping roughly 20 million barrels per day of oil. The World Bank projects a 24% jump in global energy prices in 2026,...
JSE Gold Shares Surge on Hopes of US-Iran Deal
Gold and silver posted their strongest weekly gains as optimism over a potential US‑Iran peace deal lifted bullion prices. In London, gold climbed to $4,680.20 per ounce, up 3.7%, while silver surged 5.5% to $76.81. The news also sent the...
Ongoing Hormuz Closure Could Expand Bunker Wait Times Globally: Analyst
The Strait of Hormuz has remained effectively closed since the Middle East war began on Feb. 28, prompting S&P Global analysts to warn that a month‑long shutdown could push two‑week bunker fuel lead times in Asia to a global two‑week norm. Asian...
Oil and Gas Prices Fall Sharply, Driven by Hopes of Strait of Hormuz Reopening – as It Happened
Oil and gas prices plunged on Tuesday as optimism grew that the Strait of Hormuz could reopen and a U.S.–Iran peace memo might be near. Brent crude fell 11% to $97.48 a barrel, its lowest level since April 22, while U.S....
Fastmarkets to Discontinue Three European Seamless and Welded Tube and Pipe Prices
Fastmarkets announced it will discontinue three European tube and pipe price indices—MB-STE-0807, MB-STE-0808, and MB-STE-0809—after receiving no market feedback during its consultation. The firm initially proposed dropping eight prices across Europe and India but will retain five after stakeholder input,...
Diesel and Gasoline Prices Surge Across U.S. Regions Amid Global Supply Concerns
U.S. diesel and gasoline prices jumped this week as the Middle East conflict tightened global oil supplies. The national on‑highway diesel average rose 29 cents to $5.64 per gallon, while gasoline climbed 33 cents to $4.45 per gallon, according to...
UK Bitumen Imports Increase in 1Q
UK bitumen imports rose 18% year‑on‑year to 225,000 t in Q1, despite a sharp spike in crude and bitumen prices after the US‑Iran war began on 28 February. Fixed‑price term contracts secured before the conflict helped offset higher input costs, keeping domestic...
Economic Recovery Lifts German Diesel Demand in 2025
German diesel consumption rose in 2025, marking the first increase in six years and signaling a tentative rebound in industrial activity after two years of recession. The economy grew 0.2% in 2025, ending a downturn that saw GDP contract by...