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China’s imports of discounted Russian crude surged to 21.8 million tonnes in January‑February 2026, a 40.9% year‑on‑year increase, while the dollar value rose only 5.8% due to steep discounts. Russian oil now makes up more than one‑fifth of China’s total crude volume. Analysts warn that the escalating Iran‑Israel conflict and rising competition from India could temper future shipments. A new U.S. general licence, effective through April 11, widens the market for Russian oil but may hasten China’s pullback as inventories swell.
Federal Reserve Governor Christopher Waller warned that a prolonged oil price surge could seep into core inflation, making any shock more than a transitory blip. He noted that while structural inflation is edging toward the Fed’s 2% target, tariffs are...
Serbia secured a U.S. Treasury waiver extending sanctions relief for the Russian‑owned Naftna Industrija Srbije (NIS) until April 17, 2026, allowing continued crude oil imports amid the war on Iran. The waiver comes as Serbia imposed a ban on crude and...
Oil prices swung sharply this week as escalating war risk in the Middle East collided with a series of emergency supply measures. WTI fell to $94.13, down 3.98%, after traders weighed tanker delays in the Strait of Hormuz against strong...
The Iran‑Israel conflict is spilling into global oil markets as strikes target both the Hormuz corridor and Iran’s Kharg Island export hub. U.S. officials have responded with a Jones Act waiver, Strategic Petroleum Reserve drawdowns, and the prospect of releasing...
Air cargo backlogs are mounting as Middle East airspace closures have stripped roughly 20% of global air‑freight capacity, equivalent to over 500,000 tonnes. Qatar Airways Cargo has resumed limited freighter services under a temporary authorisation, while other regional carriers operate...
Ukraine has deployed interceptor units to five Middle Eastern countries to protect critical and civilian infrastructure from missile threats. The move was announced by Security Council Secretary Rustem Umerov after a regional visit, emphasizing an immediate operational presence. Kyiv is...
Sailors in a WeChat group reported that the bulk carrier "Ocean Pretty," sailing under a Barbadian flag, was struck by gunfire and rocket‑launcher fire while attempting to transit the Strait of Hormuz. The crew said no one was injured, but...
A U.S. Court of International Trade order mandated Customs and Border Protection to refund tariffs imposed under the International Emergency Economic Powers Act. CBP’s filing on March 19 reveals its new Consolidated Administration and Processing of Entries (CAPE) system is...
Israel shut access to Jerusalem’s Al‑Aqsa Mosque and other holy sites amid the Israel‑Iran war, forcing Eid worshippers to pray at the city gates. The closure, imposed for security reasons, marks the first time the mosque has been barred during...
The Indian government launched the Resilience & Logistics Intervention for Export Facilitation (RELIEF) scheme, allocating Rs 497 crore (US $53 million) to shield exporters from Middle‑East conflict‑driven disruptions. The program, administered by the Export Credit Guarantee Corporation, offers extended export obligations, stable insurance premiums,...
A US‑led air and naval campaign targeting Iranian forces aims to reopen the Strait of Hormuz, a critical oil conduit, prompting heightened market volatility. Oil prices have swung as traders balance expectations of increased output against the risk of prolonged...
Iran’s Islamic Revolutionary Guard Corps is rolling out a vetting and registration system to manage ship transits through a newly‑established safe corridor in the Strait of Hormuz. Vessels must disclose ownership and cargo details in advance, and at least nine...
The Trump administration is reportedly weighing a plan to occupy or blockade Iran’s Kharg Island, the nation’s primary oil export hub, in order to pressure Tehran into reopening the Strait of Hormuz. The proposal, cited by Axios from four informed...
Muqtedar Khan challenges Shashi Tharoor’s defence of India’s diplomatic silence on the West Asian war, arguing that quietism erodes India’s credibility and strategic autonomy. He cites past instances where silence cost India, from the 1956 Hungary crisis to recent maritime...
Chinese Vice President Han Zheng will travel to Kenya, South Africa and Seychelles from March 22 to 30, at the invitation of Kenya Deputy President Kithure Kindiki and his counterparts. The high‑level tour is framed as a key exchange to...
The UN Security Council issued a resolution condemning Iran’s retaliatory strikes on Bahrain, Qatar, Saudi Arabia and the UAE, labeling them a breach of international law. The article argues the vote is one‑sided, focusing on protecting Gulf oil flows and...
China Railway reported a 25% year‑on‑year increase in TEU volume on the China‑Europe rail corridor during January‑February 2026, moving 352,100 TEU across 3,501 train trips. Train frequency rose 31.7% compared with the same period last year, reversing a 2025 decline...
In 2025 the United States imposed sweeping import tariffs intended to shield domestic producers. The measures inadvertently lowered costs for foreign rivals, creating a mixed‑bag of winners and losers among U.S. firms. Small businesses, often highlighted in political rhetoric, bore...
Japan and the United States announced a $73 billion Japanese investment in U.S. energy infrastructure, including up to $40 billion for small modular reactors (SMRs) built by GE Vernova Hitachi in Tennessee and Alabama. Additional natural‑gas generation projects in Pennsylvania ($17 billion) and Texas ($16 billion)...
The Bank of Canada kept its overnight rate at 2.25% on March 18, marking a third consecutive hold. Inflation slowed to 1.8% in February, still under the 2% target, while the labour market remains weak. The decision reflects caution amid...
UK government borrowing surged to £14.3 bn in February, the second‑largest monthly deficit on record. The rise exceeded economists' forecasts of £8.8 bn, driven by higher spending that outstripped an increase in tax receipts, including debt‑interest costs. The Office for National Statistics...
UK gilt yields surged to just under 5%, the highest level since 2008, as markets price in expectations of Bank of England rate hikes. Unilever entered talks to sell its foods business to McCormick, while discount retailer The Works saw...
The International Energy Agency (IEA) has urged governments, businesses and households to adopt demand‑side measures such as working from home, lowering highway speed limits and avoiding air travel to cushion consumers from soaring oil prices triggered by the US‑Israel war...
Iranian attacks crippled 17% of Qatar's LNG export capacity, forcing QatarEnergy to declare force majeure on long‑term contracts for up to five years. South Korea, the world’s third‑largest LNG importer, downplays supply risks, noting its Qatari share is only about...
The article outlines how the ongoing Middle East conflict is already rippling through the Canadian economy, pushing gasoline and grocery prices higher, unsettling stock markets, and keeping mortgage rates elevated. It highlights broader effects such as tighter job security, more...
European Central Bank Governing Council member Joachim Nagel warned that the ECB could be forced to raise interest rates as early as April if inflationary pressures intensify, particularly due to the ongoing Iran war. He indicated that a deteriorating medium‑term...
Singapore’s 2026 budget projects a modest SG$4 billion surplus, continuing the fiscal upside that began with a SG$10.5 billion surplus in 2025 after revenue rose 13 percent year‑over‑year. The government earmarked $6 billion each for Changi Airport’s expansion and the National Productivity Fund, which...
The Glossy Podcast featured ArentFox Schiff partner Angela Santos discussing the fallout from the Supreme Court’s February 2026 decision that struck down IEEPA‑based tariffs. The ruling sparked an immediate rollout of new tariff regimes, leaving fashion importers uncertain about refund timelines....
Thai Prime Minister Anutin Charnvirakul announced that the nation has roughly 100 days of oil reserves remaining. The government has reduced oil exports to Laos and Myanmar by 25% and 20% respectively, citing the war in the Middle East. Officials...
U.S. sovereign debt surged to $39 trillion, a level analysts deem alarmingly unsustainable, as war‑related spending on Iran adds pressure. The debt rose $2 trillion in just a few months, with Biden’s administration issuing $4.7 trillion of new 10‑year debt since 2021. Experts...
India’s commerce ministry has launched a comprehensive audit of critical supply chains in pharma, textiles and fertilizers as the West Asia war threatens global trade. A detailed questionnaire asks firms to disclose import dependence, source countries and the substitutability of...
Central‑bank digital currency (CBDC) could remain neutral for banks if the central bank recycles CBDC balances back to them at rates equal to deposit‑funding costs, preserving credit creation and profit margins. Deposits, however, are hybrid instruments that provide money‑like services...
European executives surveyed by The Conference Board anticipate that the ongoing Middle East conflict will exacerbate macro‑economic instability, drive higher energy costs, and cause logistics disruptions over the next six months. The poll identified these three factors as the most...
The Argus roundup highlights how the escalating US‑Iran conflict is reshaping energy markets. The International Energy Agency is boosting oil stock releases, while a temporary Jones Act waiver is prompting US crude cargoes to sail under foreign flags. WTI premiums...
President Donald Trump’s team is scrambling for measures to curb soaring crude prices as the Iran‑Israel war enters its third week. Options on the table include a U.S. Navy escort for tankers in the Strait of Hormuz and a rapid...
Russia is leveraging a U.S. waiver and global oil shortages to boost its crude and product exports. Seaborne product shipments jumped 25% to 2.6 million barrels per day, while crude exports rose about 10% in March. Production gaps caused by OPEC‑plus...
Oil prices are set for a weekly rise as the Middle‑East conflict enters its fourth week, with the Strait of Hormuz effectively shut and strikes persisting across the region. Brent crude traded above $108 per barrel, marking a more than...
The United States has issued a 60‑day waiver of the Jones Act, temporarily eliminating the requirement to use U.S.-flagged vessels for domestic shipping. This regulatory shift coincides with a sharp rise in para‑xylene (PX) prices following the Iran‑Israel conflict, prompting...
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South Africa is confronting an acute fuel supply shock after the Strait of Hormuz closure disrupted Middle‑East oil flows. The government assures no station shutdowns, yet industry‑level allocation bans have left diesel pumps dry in several provinces. A strategic petroleum...
Brazil imposed a 50% tax on diesel and marine gasoil (MGO) exports on 12 March, causing demand in Brazilian ports to collapse. Suppliers report "non‑existent" MGO volumes as buyers shift to very‑low‑sulfur fuel oil (VLSFO). Even domestically flagged vessels now prefer...
A wave of international assistance is reaching Cuba, highlighted by a Russian oil tanker and humanitarian convoys from several nations. The fuel deliveries aim to alleviate chronic shortages that have crippled transportation and tourism. Commentators on social platforms expressed cautious...
Dubai crude surged to a record $166 a barrel as U.S.-Iran hostilities crippled transit through the Strait of Hormuz. Brent crude has risen nearly 48% since the conflict began, trading around $106, while WTI lags but faces upward pressure. Analysts...
The article warns that a disruption in the Strait of Hormuz could turn an oil price shock into a fertilizer shock, raising food costs and broadening inflation. About one‑third of global fertilizer exports, especially nitrogen‑based urea, pass through Hormuz, and...
Russian President Vladimir Putin sees victory in Ukraine hinging on growing disunity among Western allies. Despite stalled battlefield gains, he maintains maximalist demands, rejecting any peace that leaves most of Ukraine independent. Recent shifts—including U.S. aid cuts under President Trump,...
Clara Kaluderovic’s recent Foreign Policy piece highlights the accelerating attrition of Iranian drones deployed across the Middle East. While Iran continues to mass‑produce low‑cost loitering munitions, battlefield losses are outpacing its output, forcing Tehran to tap deeper into regional supply...
President Trump ordered a precision strike against Iranian facilities believed to be supplying drones and missiles to Russia. The attack destroyed key stockpiles in Syria, cutting off a significant portion of Tehran’s arms flow to Moscow’s war effort in Ukraine....
Cosco Shipping warned that the ongoing war in the Middle East will heighten volatility across global supply chains and speed up regionalization and nearshoring trends in 2026. The liner‑shipping and terminal operator highlighted weak macro‑economic momentum and a severe external...
Myroslava Gongadze wrote in Ukrainska Pravda that Europe is effectively at war, citing the ongoing Russian invasion of Ukraine and its spill‑over risks. She referenced a warning from the Friends of Europe think‑tank that the continent faces escalating security threats...
U.S. regular gasoline prices jumped nearly 90 cents to about $3.80 per gallon, while diesel rose $1.40 to just over $5, according to AAA data. The surge could cost the average household more than $600 in extra fuel expenses this...
