Jet Fuel Supplies Are Sharply Affected by the Near-Closure of the Strait of Hormuz
Jet fuel prices have roughly doubled as ship traffic through the Strait of Hormuz plummets, creating a double‑whammy disruption for both crude imports to Asian refineries and finished jet fuel exports from Gulf refineries. Europe has been warned of a systemic shortage, while Asian markets already face tight supplies. U.S. airlines, which have largely avoided fuel hedging, are absorbing the surge, with Delta estimating an extra $2 billion in quarterly costs. The price shock is being passed to passengers through higher fares and fees.
Semiconductor Industry Calls for More Robust, Strategic Industrial Policy
U.S. industry leaders told a House subcommittee that China is outspending the United States on AI‑driven semiconductor research and that American manufacturing capacity has shrunk more than 25% since 1990. They urged Congress to adopt a proactive industrial policy, streamline...
Europe Eyes Canada LNG as Iran War Rewires Energy Routes
European energy buyers, led by Germany’s Uniper, are assessing Canada’s west‑coast Ksi Lisims LNG project as a diversification option amid the Iran war and Strait of Hormuz disruptions. The proposal involves shipping liquefied natural gas through the Panama Canal, a longer...
Stocks Hit Record High as Wall St. Looks Beyond War
The S&P 500 closed above 7,000 on Wednesday, setting a fresh all‑time high and climbing about 0.8% on the day. The index now sits roughly 2% higher than its pre‑war level and has rebounded roughly 10% since the March 30 trough. Investor...
Asia Faces Strained Supply Lines and Volatile Energy Markets
Asia’s energy markets are under severe strain as Gulf crude shipments face weeks‑long delays and Atlantic imports remain uneconomic. A sustained oil price surge toward $200 per barrel would likely trigger government‑mandated rationing and demand‑reduction measures across the region. The...
Maximum Pressure Returns: U.S. Targets Shadow Fleet Tankers as Iran Oil Waiver Expires
The U.S. Treasury reinstated full "maximum pressure" on Iran by letting the 30‑day general license for stranded Iranian oil expire and sanctioning more than two dozen individuals, companies, and vessels tied to the Shamkhani shadow‑fleet network. The designations target a...
US Targets Iran's Oil Transportation Infrastructure with Sanctions
The U.S. Treasury announced sanctions on more than two dozen individuals, companies and vessels tied to Iran's oil transportation network. The measures focus on oil‑shipping magnate Mohammad Hossein Shamkhani, son of the late security official Ali Shamkhani. Treasury also sanctioned...
Trump’s Quest for More Sway Over Fed Faces Fresh Hurdles
Jerome Powell's term as Federal Reserve chair expires on May 15, but he could remain as chair pro tem if the Senate fails to confirm a successor. President Trump’s preferred candidate, former Fed governor Kevin Warsh, must clear the Senate...
Supreme Court Tariff Decision Sparks Refund Claims
The U.S. Supreme Court ruled 6‑3 that the president lacks authority to impose tariffs under the International Emergency Economic Powers Act, declaring the contested tariff void. The decision has triggered a wave of refund litigation as importers seek reimbursement through...
Trump Says Iran War ‘Close to Over,’ Hints at Possible Deadline Ahead of Royal Visit
President Donald Trump told Fox News the war with Iran is "close to over" and suggested a deal could be reached before King Charles III’s April 27 White House visit. He defended the Feb. 28 joint U.S.-Israeli strikes as necessary to...
US Senate Republicans Block Bid to Rein in Trump Iran War Powers, Voting Continues
The U.S. Senate voted 51‑47 to block a Democratic resolution that would have required congressional approval before President Donald Trump could continue military operations against Iran. The measure, championed by Democrats, aimed to curb the president’s war‑powers amid escalating tensions...
White House Denies U.S. Requested Ceasefire, Says New Talks May Happen in Pakistan
The White House refuted reports that it had asked for a cease‑fire in the Iran‑Israel conflict, emphasizing that no official request has been made. Press Secretary Karoline Leavitt said ongoing discussions with Tehran are "productive" and could soon move to...
South Korea Has An Oil Problem. Canada Is Helping To Fix It
The Strait of Hormuz blockade has forced South Korea to look beyond the Middle East for crude, and Canada’s Trans‑Mountain Expansion (TMX) now ships oil to the Pacific, letting Korean refiners buy Western Canadian Select at about $10 per barrel...
US War on Iran Was a 'Mistake', Says Reeves
Chancellor Rachel Reeves said the United States erred by ending diplomatic talks with Iran and moving to military action, urging a swift de‑escalation. She warned that the conflict could plunge the global economy into recession, with the IMF flagging the...
IMF Upgrades Outlook for Taiwan’s GDP
The International Monetary Fund lifted its 2026 real‑GDP forecast for Taiwan to 5.2%, up sharply from the 2.1% outlook in January. Taiwan’s own statistics agency, DGBAS, projected an even stronger 7.71% expansion, citing the resolution of US‑Taiwan tariff talks and...
Eswatini Excluded From China’s Policy
China will grant tariff‑free access to goods from 53 African nations, deliberately leaving out Eswatini because it recognizes Taiwan. Deputy Minister Chen Ming‑chi said the exclusion will have a minimal economic effect, though it may carry a psychological signal. Taiwan...
Inflation: A Molehill, Not a Mountain
U.S. consumer prices jumped 3.3% year‑over‑year in March, driven largely by a sharp rise in oil and gas costs. Core inflation, which excludes volatile energy and food, increased only 2.6% YoY and 0.2% month‑over‑month, below market expectations. Other gauges such...
Trump’s Waiver Of Jones Act Fails To Cool Oil Prices
President Trump issued a 60‑day Jones Act waiver hoping to shave a few cents off U.S. fuel costs, but oil prices remain elevated as global supply disruptions and rising crude costs dominate. Brent fell 4.2% to $95.09 per barrel and...
Carriers Redeploy Hormuz-Stranded Ships for Intra-Gulf Shuttle Operations
Container carriers are repurposing vessels stranded in the Strait of Hormuz for short‑haul shuttle services within the Gulf. CMA CGM has moved five of its 13 trapped ships into feeder routes between northern ports, while MSC, with 15 immobilized vessels, is...
Iran Can Withstand Two Months without Oil Exports
Iran can sustain its current oil output of roughly 3.5 million barrels per day for about two months if exports are halted, according to consultancy FGE NextantECA. The U.S. blockade that began on April 13 blocks an estimated 2 million bpd from reaching China,...
India Stands by Trade Pact with US, Trade Negotiators to Visit Washington Next Week
India’s senior trade delegation, led by chief negotiator Darpan Jain, will travel to Washington from April 20‑22 to revive talks on a pending bilateral trade agreement, the first face‑to‑face meeting since October. The team says India remains committed but wants...
Nobody Should Control the Strait of Hormuz, UAE Minister Says
UAE Minister of State for International Cooperation Reem Al Hashimy said the Strait of Hormuz must remain a free, public waterway and not be controlled by any nation. She warned that any US‑Iran security pact must include a definitive end to...
US Sec 301 Probe: India Rejects Allegations, Requests for Terminations of Both Investigations
India has formally rejected the U.S. Trade Representative’s Section 301 investigations into alleged excess structural capacity and forced‑labour practices, demanding a negative determination and immediate termination. The Indian Ministry of Commerce argues the initiation notice lacks specific policy evidence and relies...
Trump Warns US-UK Trade Deal ‘Can Always Be Changed’ with Relations in ‘Sad State’
President Donald Trump warned that the U.S.-U.K. trade agreement, signed in May 2025 and featuring reduced tariffs on cars, aluminium and steel, could be altered or revoked. He linked the threat to Britain’s perceived lack of support during the U.S....
IMF Calls for Countries to Economise on Energy Supplies, and Hails UK’s Budget Deficit Improvement – as It Happened
The International Monetary Fund praised the United Kingdom for cutting its budget deficit from 6.1% of GDP in 2024 to 5.4% in 2025, and projects it will fall to 3.9% in 2026 and 1.6% by 2031, the lowest among G7...
WATCH: Bessent Warns that U.S. Is Launching 'Financial Equivalent' Of Bombing Iran
U.S. Treasury Secretary Scott Bessent warned that Washington is preparing a "financial equivalent" of a bombing campaign against Iran, signaling a new wave of secondary sanctions aimed at banks and firms that facilitate Iranian oil revenues. The Treasury has already...
The Iran War Is Not About China
The ongoing Iran war is driven primarily by U.S. policy choices, Israeli strategic calculations, and Iran’s reactive posture, not by Chinese orchestration. While Beijing has engaged in visible diplomacy—shuttle missions, telephone outreach, and a five‑point peace proposal—it has refrained from...
Under-Pressure Finance Ministers Call for Full Iran War Ceasefire
Finance ministers from eleven countries, led by Britain, issued a joint statement urging the United States, Israel and Iran to fully implement the ceasefire agreed earlier this month. The declaration came a day after the IMF lowered its global growth...
US Ambassador Meets Oil Minister Puri over Expanding Energy Purchases
U.S. Ambassador to India Sergio Gor met with Oil Minister Hardeep Singh Puri to discuss expanding American energy supplies to New Delhi. The talks come as India has accelerated imports of U.S. LPG and LNG following the closure of the Strait of Hormuz. Both...
How Strategic Investment Is Redefining Economic Statecraft
Funds of funds (FoFs) are emerging as strategic tools for governments to conduct economic statecraft. By pooling capital to invest in venture funds rather than directly in individual firms, FoFs can reinforce innovation ecosystems and steer resources toward critical technologies....
Spain, Portugal See Tourism Boom as Travellers Avoid Middle East
Spain and Portugal are seeing a sharp surge in summer travel demand as tourists avoid war‑torn Middle‑Eastern destinations. By early April, flight bookings to Spain rose 32% year‑on‑year and hotel searches 28%, while Portugal recorded 21% and 16% gains respectively....
Reeves Says Diplomacy Is ‘Best Economy Policy’ as UK Tax Burden to Mount
Chancellor Rachel Reeves told CNBC in Washington that de‑escalating the Middle East conflict, especially reopening the Strait of Hormuz, is the “best economic policy” for the UK. She made the remarks after the IMF warned the UK’s tax burden will...
Mark Mills: Strait of Hormuz and Global Trade
War between the United States‑Israel coalition and Iran has forced the closure of the Strait of Hormuz, a critical maritime chokepoint between Oman and Iran. The strait handles roughly 15 million barrels of crude oil each day, along with sizable volumes...
Chinese Tanker Crosses Strait of Hormuz, Testing Trump
A Chinese-flagged tanker sailed through the Strait of Hormuz on Monday, directly challenging President Donald Trump’s newly announced maritime blockade aimed at curbing Iranian oil shipments. The vessel, listed under U.S. sanctions, completed the transit into the Gulf of Oman...
Oil Prices Coming Down, But for a Worrisome Reason
The International Energy Agency (IEA) warns that "demand destruction" is now unfolding as oil prices soar to record levels. The recent partial closure of the Strait of Hormuz, which handles about 20% of global oil shipments, has tightened supply and...
3 Large-Cap Value Funds to Grab as Inflation Continues to Surge
Inflation jumped in March, with the CPI rising 0.9% month‑over‑month and the annual rate climbing to 3.3%, the highest level since May 2024. The spike was fueled by a 10.9% surge in energy prices amid heightened U.S.–Iran tensions, prompting the Federal...
International Business Briefs | India’s Gems and Jewellery Exports Hit Five-Year Low on US Sales Slump
India’s gems and jewellery exports fell 3.3% to $27.72 bn in FY 2025/26, the lowest level since 2020/21, as shipments to the United States slumped 45% to $5.09 bn after new tariffs and duties. In Europe, the Commission warned Meta that its fee‑based AI...
EU to Discuss Sanctions on Israel, Pending New Hungarian Government Position
EU foreign ministers will meet in Luxembourg on 21 April to debate trade sanctions against Israel, a move championed by Belgium, Ireland, Malta, Slovenia and Spain. The proposed measures include suspending the EU‑Israel association agreement, which would strip Israel of roughly...
From Salsa to Silence: How America First Is Emptying Cuba’s Beaches and Livelihoods
U.S. sanctions under President Trump’s “America First” policy have sharply restricted fuel and financial flows to Cuba, causing a cascade that has grounded flights and crippled the island’s tourism sector. International arrivals fell more than half in February 2026 compared...
How Big Oil Is Cashing in on Iran War - The Latest
The world’s 100 largest oil and gas companies generated more than $30 million per hour in unearned profit during the first month of the US‑Israeli war on Iran. Crude prices averaged $100 a barrel in March, driving an estimated $23 billion windfall...
India’s Unemployment Rate Edges up to 5.1% in March as Urban Joblessness Rises
India’s overall unemployment rate edged up to 5.1% in March 2026, driven by a rise in urban joblessness that reached 6.8%—a 0.2‑point increase from February. Rural unemployment remained virtually flat at 4.3%. The Periodic Labour Force Survey also showed a...
The Islamic Republic of Iran Should Be Held Accountable for Aiding Russia’s Crimes Against Ukraine
The United States and allied nations are urging that Iran be held criminally liable for supplying Shahed‑style drones to Russia, which have been used to strike Ukrainian civilians and infrastructure. Evidence shows Tehran has produced, exported, and trained Russian operators...
Kroenig Interviewed on CNN on the Blockade of the Straight of Hormuz
Atlantic Council Vice President Matthew Kroenig appeared on CNN on April 14 to discuss the United States’ decision to block the Strait of Hormuz. He framed the move as a strategic deterrent aimed at curbing Iran’s hostile behavior in the...
Iran War Drives up African Bitumen Truck Prices
The outbreak of the Iran‑Israel‑US war has sharply lifted bitumen truck prices across sub‑Saharan Africa. In East and Central Africa, ex‑Mombasa rates jumped to KSh165‑175 per kilogram (about $1,159‑$1,313 per tonne), a 40% increase. Nigerian bulk bitumen now trades around...
Yellen Says ‘No Alternative’ to Dollar, Urges US-China Cooperation for Sake of the World
Former Treasury Secretary Janet Yellen told the HSBC Global Investment Summit in Hong Kong that a U.S.-China decoupling would erode the benefits of global trade and division of labour. She emphasized the dollar’s unrivaled reserve‑currency advantages, citing deep capital markets...
Bangladesh at the Crossroads: Renewables or Imported Fuel Chaos
Bangladesh, which imports roughly 60% of its energy, is feeling the squeeze of soaring global oil, coal and LNG prices triggered by the Israel‑Iran conflict. The newly elected government faces a looming $4.8 billion jump in annual fuel‑import costs and a...
Middle East War Accelerates Regional Cross-Border Cooperation
War in the Middle East forced a surge of ocean cargo into Gulf ports, overwhelming land transport. In response, GCC countries accelerated cross‑border cooperation, slashing customs approvals from months to days and expanding real‑time coordination among ports. The UN‑mandated TIR...
Iran War, Indonesia Curbs to Support Nickel Price: Report
BMI raised its 2026 refined nickel price forecast to $16,600 per tonne, up from $15,800, citing a structurally firmer market despite a persistent global surplus. Indonesia’s decision to cap nickel ore mining quotas at 260‑270 million wet metric tonnes, down from...
UK PM Starmer Says ‘Not Going to Yield’ to Trump’s Mideast War Threats
British Prime Minister Keir Starmer told parliament he will not be dragged into the Iran war, despite President Donald Trump’s threat to dismantle the UK‑US trade pact that caps U.S. tariffs at 10 percent. The dispute follows Starmer’s refusal to let...
Bunker Fuel Shortages Loom After US Counter Blocks Strait of Hormuz
US naval counter‑operations have effectively blocked commercial traffic through the Strait of Hormuz, disrupting the primary route for bunker fuel shipments to Asia. Analysts warn that within two to three months container lines could encounter a global shortage of low‑sulfur...