Oil Jumps to Highest Level Since June 2022 as War Continues
Oil prices surged to their highest level since June 2022 as the U.S.-Iran conflict and the blockage of the Strait of Hormuz tightened global supply. Brent crude rose above $119.50 a barrel before settling near $118, while WTI hovered just under $107. The stalemate has driven U.S. stockpiles lower and exports to record highs, intensifying concerns over a prolonged shortage. Meanwhile, the United Arab Emirates announced its departure from OPEC, adding another variable to market dynamics.
Fed Leaves Rate Unchanged During Powell’s Final Meeting as Chair
The Federal Reserve left its target federal funds rate unchanged at 3.5%‑3.75% during Chairman Jerome Powell’s final FOMC meeting, despite dissent from Governor Stephen Miran and three regional presidents. Recent data show a resilient labor market, a modest rise in...
Mondelēz CEO Says Iran War Could Further Erode Consumer Confidence
Mondelēz International’s CEO Dirk Van de Put warned that the ongoing war in Iran could further erode already weak U.S. consumer confidence, adding pressure to affordability and job‑security concerns. He noted that lower‑income shoppers are becoming more price‑sensitive, driving a...
Brent Crude Breaks the Iran War Highs
Brent crude surged past $100 a barrel on Thursday as geopolitical tension over Iran escalated. A Politico report revealed the White House convened with major oil executives to discuss measures to curb price spikes if the U.S. maintains its blockade...
Trump Says It's 'Great' That UAE Pulled Out of OPEC
President Donald Trump praised the United Arab Emirates’ decision to leave OPEC, calling it "great" and suggesting it will help lower global energy prices. The UAE, the cartel’s third‑largest producer, announced its exit effective May 1 amid escalating missile attacks from...
Bank of Canada Holds Key Rate Steady but Warns Future Movements Unclear
The Bank of Canada kept its benchmark policy rate at 2.25% for a fourth straight meeting, in line with market expectations. Governor Tiff Macklem warned that elevated uncertainty—stemming from the war in Iran and a pending Canada‑U.S‑Mexico trade review—could push rates...
Venezuelan Crude Will Eventually Lower US Gas Prices: Chevron Exec
U.S. gasoline prices have risen to $4.17 per gallon, driven by a 56% jump in global oil prices since the Iran conflict. Chevron is importing about 250,000 barrels per day of Venezuelan crude to its Pascagoula refinery, providing modest relief...
AEM: Federal Spring Economic Update Strengthens Canadian Workforce, Infrastructure
The Association of Equipment Manufacturers (AEM) welcomed Canada’s Spring Economic Statement, which introduces the Canada Strong Fund and a $6 billion CAD (≈$4.4 billion USD) commitment to grow the skilled‑trades workforce by over 100,000 by 2030‑31. AEM sees these measures as critical...
India Invokes WTO Peace Clause for FY25 Rice Subsidies for Farmers
India announced rice subsidies of $7.6 billion for FY 2024‑25, representing 11.85% of the sector’s $64.13 billion production value. This exceeds the WTO de minimis ceiling of 10%, prompting New Delhi to invoke the WTO peace clause for the seventh time. The peace clause shields...
Fed Split Widens as Rates Stay on Hold Amid Inflation Fears
The Federal Reserve kept its policy rate in the 3.50‑3.75% range but issued its most divided statement since 1992, with an 8‑4 vote and three officials dissenting over an easing bias. The Fed highlighted rising inflation, now described as "elevated"...
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As the Strait of Hormuz Blockade Continues, a Food Crisis Looms
The Strait of Hormuz remains effectively blockaded, cutting roughly 20 million barrels of oil a day and straining global supply chains. Vitol’s CEO warned that even a rapid reopening would still drain about one billion barrels from the market. The disruption has...
Fed Can Stay on Hold This Year, JPMorgan's Michele Says
JPMorgan economist Michele says the Federal Reserve can keep its policy rate unchanged through the end of 2026 despite lingering inflation pressures. The commentary highlights that oil prices remain near $150 per barrel and gasoline above $4 per gallon, which...
Hope Beneath the Headlines
RiverFront’s April 2026 Chart Pack highlights that the Iran‑driven oil shock pushed Brent crude above $100 per barrel, prompting a modest pullback in the S&P 500 while the Fed kept rates steady. Despite the geopolitical turbulence, the United States’ deepening energy independence...
US Federal Reserve Announces Key Interest Rate
The Federal Reserve left its target range for the overnight interest rate unchanged at 3.5 %‑3.75 %, citing a February PCE inflation reading of 2.8 % that remains above its 2 % goal. The decision reflects lingering pressure from higher global energy prices tied...
Federal Reserve Issues FOMC Statement
The Federal Open Market Committee left the federal funds target range unchanged at 3.5 percent to 3.75 percent, citing solid economic expansion but modest job gains and persistent inflation. The statement highlighted elevated price pressures, especially from global energy costs, and noted...
China Pushes EU Capitals to Scrap 'Made in Europe' Law or Face Retaliation
China’s trade mission in Brussels has urged EU member states to abandon the draft “Made in Europe” legislation, warning of retaliatory measures if the rules proceed. The Industrial Accelerator Act would prioritize European‑made products in public procurement and impose conditions...
The Global Economic Impact From the Iran Conflict
The IMF has lowered its 2026 global growth outlook to 3.1% from 3.4% as the Strait of Hormuz remains closed, pushing oil prices toward $100‑$110 a barrel. In its adverse scenario, world growth could slip to 2‑2.5% with inflation edging...
Shipping Traffic in the Strait of Hormuz Remains at a Trickle
Shipping traffic through the Strait of Hormuz fell to roughly six vessels in the past 24 hours, a stark contrast to the pre‑conflict average of 125‑140 daily passages. The limited transits, primarily dry‑bulk carriers and the sanctioned chemical tanker Vast Plus,...
Trump Discussed Extended Blockade With Oil Executives
President Donald Trump met with top oil executives, including Chevron CEO Mike Wirth, to discuss extending the U.S. blockade of Iranian ports amid the ongoing Middle East conflict. The White House gathering also featured leaders from Trafigura, Vitol, Mercuria, Vice...
Current Growth Trajectory Paves Way for India to Be a Developed Nation by 2047: Jeffrey D Sachs
Renowned economist Jeffrey D. Sachs told a FICCI event that India could become a developed nation by 2047 if its current growth trajectory continues. He urged New Delhi to maintain a non‑aligned stance, avoiding participation in the US‑led Quad and steering...
Govt Develops Export Monitoring Framework to Meet FY31 $2 Trillion Export Target
India’s Department of Commerce unveiled an Export Monitoring Framework that breaks the $2 trillion export goal for FY31 into sector‑specific actions across engineering, textiles, electronics, pharmaceuticals, chemicals and services. The plan ties supply‑side and demand‑side initiatives to clear key performance indicators...
Armed with Govt Missive, India’s APEDA Poised to Take up GMO Rice Issue with China
India’s Agricultural and Processed Food Products Export Development Authority (APEDA) has received an official memorandum from the Environment Ministry confirming that no genetically modified (GM) rice is approved for cultivation in India. The memo, backed by the Genetic Engineering Appraisal...
Aviation Sector Hit by War-Driven Fuel Shock and Network Disruption
The 2026 Iran conflict has sent jet fuel prices soaring to nearly twice pre‑war levels and forced the closure of airspace across Iran, Iraq, Kuwait, Bahrain and the UAE, prompting more than 52,000 flight cancellations. Global airline equities have shed...
Oil Traders Lawyer Up as Hormuz Disruptions Trigger Billions of Dollars in Disputes
Oil traders are entangled in multi‑billion‑dollar disputes after the Iran‑Israel war shut the Strait of Hormuz, leaving contracted Murban crude shipments undelivered. Shell is suing PetroChina's unit for roughly $35 million over a 500,000‑barrel cargo that arrived at only 62,000 barrels,...
India Aims for $2 Tn Total Exports by FY31 with an MSME, Agri Push
India has set an ambitious goal to lift total exports to $2 trillion by FY31, splitting the target evenly between merchandise and services. Exports already hit a record $860.1 billion in FY26, with merchandise at $441.78 billion and services at $418.31 billion. The government...
Strait of Hormuz Nears Third Month of Closure
A Japan‑linked VLCC, Idemitsu Maru, successfully transited the Strait of Hormuz carrying roughly 2 million barrels of Saudi crude, marking the first non‑Iranian tanker to leave the region in ten days. The waterway’s effective closure, now in its third month, has halted...
Will Rising Fossil Fuel Prices Boost Battery Tech Investing?
Rising fossil‑fuel prices are prompting investors to look toward battery‑technology assets, a trend highlighted in VettaFi’s recent webcast. Speakers outlined a "triple demand" thesis: expanding global EV adoption, a metals super‑cycle, and rapid battery‑storage cost declines. The BATT...
Brent Oil Tops $118 After Trump Says He Will Blockade Iran Until It Agrees to a Nuclear Deal
Oil prices surged over 6% on Wednesday as President Donald Trump announced a U.S. naval blockade of Iran until Tehran agrees to a nuclear deal. Brent crude rose to $118.33 per barrel and WTI to $106.37, reflecting heightened fears of...
Trump Weighs Long Iran Blockade as Oil Market Fears Grow
President Donald Trump met with U.S. oil executives to discuss how to blunt the impact of a potential months‑long blockade of Iran’s ports, a move aimed at forcing Tehran to reopen the Strait of Hormuz. The discussion covered production levels,...
RBI Launches 3 Key Surveys for Monetary Policy Input
The Reserve Bank of India (RBI) has launched the May 2026 rounds of three surveys—household inflation expectations, rural consumer confidence, and urban consumer confidence—to feed data into its monetary‑policy framework. The inflation expectations survey covers 19 major cities and captures households’...
West Asia War, Weak Monsoon Pose Downside Risk to Growth, Says Finance Ministry
India’s finance ministry warned that the ongoing West Asia conflict and a potentially weak monsoon pose upside inflation risks and could dampen growth. Crude oil prices have hovered near $115 a barrel, feeding higher energy costs that may be passed...
Amazon’s Satellite Internet Unit Kuiper Seeks Kenya Licence After Nigeria Approval
Amazon’s satellite internet arm, rebranded as Amazon LEO, has filed for a Network Facilities Provider Tier‑2 licence in Kenya, following a seven‑year licence win in Nigeria. The Kenyan licence costs about $115,000 upfront, runs for 15 years and requires at...
ADB Cuts Growth Outlook of Asia to 4.7% as West Asia Disruptions Deepen
The Asian Development Bank lowered its 2026 growth outlook for Asia and the Pacific to 4.7%, down from 5.1%, citing prolonged disruptions in West Asia that are driving higher energy prices and tighter financial conditions. Inflation expectations were sharply revised...
U.S. Gas Prices Climb Further as Effects of Iran War Reverberate
Oil prices rose sharply on Wednesday as the war in Iran continued to disrupt Persian Gulf energy supplies. Brent crude jumped to about $109 a barrel for July delivery, while U.S. West Texas Intermediate rose above $105 a barrel for...
U.S. Treasury Yields Hit Highest Levels Since March as Oil Surges
U.S. Treasury yields surged to their highest levels this month as oil prices spiked following the U.S. attack on Iran, eroding market hopes for Federal Reserve rate cuts. The two‑year note rose to about 3.90% and the 30‑year approached 5%,...
Did the Economy Actually Get Stronger During the Iran War? Here’s What Th...
U.S. economic activity rebounded in the first quarter of 2026 despite the ongoing Iran war and higher oil prices. Business investment surged 3.3% in March, the strongest back‑to‑back gain since 2017, while core durable‑goods orders jumped 9.5% YoY, the fastest...
China Threatens the EU with Broad Retaliation if Huawei and ZTE Are Banned From European Networks
China’s Ministry of Commerce submitted a 30‑page warning to the European Commission, saying the EU’s draft Cybersecurity Act – which would make the removal of high‑risk vendors like Huawei and ZTE mandatory – could trigger reciprocal trade restrictions on European...
Between IMF Conditions and Rising Prices, Is Sri Lanka Heading Toward Stagflation?
Sri Lanka secured a staff‑level IMF agreement that could release about $700 million, but the funds are contingent on reinstating cost‑recovery pricing for fuel and electricity. The government’s move to raise tariffs – a 13.56% request from the Ceylon Electricity Board...
Chips, Oil and Iran: Why US Is Raising Pressure on China Before Xi-Trump Talks
The United States is intensifying a multi‑front pressure campaign on China ahead of President Trump’s planned mid‑May summit with Xi Jinping. The House Foreign Affairs Committee advanced 20 new export‑control measures that would tighten allies’ sales of advanced semiconductor equipment...
The United States Is Losing the Race for Central Asia’s Critical Minerals
The United States is falling behind in securing Central Asia’s critical‑mineral wealth, a region valued at roughly $46 trillion and home to at least 32 of the 60 U.S.‑identified critical minerals. While China and Russia together command about 70 percent of the...
Ag Groups Tout USMCA at NAFB’s Washington Watch
At the National Agri‑Food Business (NAFB) Washington Watch, leaders from the American Seed Trade Association and the National Association of State Departments of Agriculture highlighted the importance of the U.S.–Mexico–Canada Agreement (USMCA) for U.S. farmers. Andy LaVigne emphasized that the...
London Stock Exchange Adds First Ukrainian Firms to Reconstruction Fund
The London‑listed HANetf Ukraine Reconstruction UCITS ETF (UKRN) has added its first three Ukrainian companies—drone‑software firm Swarmer, telecom operator Kyivstar, and iron‑ore miner Ferrexpo—marking the inaugural domestic listings in a London‑based fund. The move follows a rebalancing of the EQM...
Reliance on Chinese Green Tech Poses ‘Serious’ Risk for Europe, Experts Say
A new report warns that Europe’s heavy reliance on Chinese green technology poses serious economic and national‑security risks. China provides 98% of the continent’s solar panels, 88% of lithium‑ion batteries and 61% of inverters, creating a vulnerable supply chain. The...
Treasuries Slump as Fed Division Reveals Split on Rate Outlook
The Federal Reserve kept rates steady on April 29, but a clear split emerged among policymakers over the Middle East war’s inflation impact. Treasury yields rose sharply, with the two‑year note hitting 3.94% and the 30‑year approaching 5%. Market pricing...
Russia Says It Has No Plans to Leave OPEC+
Russia’s Kremlin says Moscow will not exit the OPEC+ alliance even after the United Arab Emirates announced its departure effective May 1. The statement, made by spokesperson Dmitry Peskov, underscores that Russia sees no viable path to raise output amid ongoing Ukrainian...
Iran War Is Fueling a Bond Selloff Ahead of Fed Chair Jerome Powell’s Fin...
Investor anxiety over the Iran war’s oil shock is driving a bond sell‑off as the 10‑year Treasury yield climbed to 4.39%. Elevated crude prices above $109 per barrel have pushed inflation expectations toward 3%, keeping the Federal Reserve on hold...
Gold, Silver Rates Today: Comex Gold Slides $86/Oz, Silver Drops $1.5/oz Ahead of US Fed Decision, Oil Surge
Gold and silver futures on the COMEX fell sharply on April 29, with gold dropping $86 to $4,522 per ounce and silver slipping $1.50 to $71.71, their lowest levels in a month and since early April respectively. The decline was...
Geopolitics, Energy Prices, and Supply Chains Drive Uncertain Path for U.S. Inflation
U.S. consumer prices rose 3.3% year‑over‑year in March, with a 0.9% month‑to‑month gain largely fueled by higher energy costs. The OECD has upgraded its 2026 inflation outlook to 4.2%, well above its prior 2.8% estimate and the Federal Reserve’s 2.7%...
Bank of Canada Neutral Hold (2.25%) – USD/CAD Rallies to 1.37 – Press Con...
The Bank of Canada left its policy rate unchanged at 2.25% for the fourth meeting since October 2025, reiterating a neutral stance amid a modest economic outlook. It continued to base its forecasts on a C$75‑per‑barrel oil price, roughly US$55,...
Thailand Walked Into Its LNG Trap With Its Eyes Open – Long Before Hormuz
Thailand’s state power utility has spent roughly $2 billion on availability payments to gas‑fired plants that produced little or no electricity over the past three years. Those fixed fees now add about 0.63 baht per kilowatt‑hour to the 2026 tariff, representing almost...