Asia

French officials said that they would 'fully offset the economic impact of the Iran crisis' by freezing certain spending. They announced this on Tuesday as part of a new set support measures. The government will be hit with a surge in energy costs and higher bond yields after the Iran War began. This is expected to cost between 4 billion euro ($4.7 billion)?and 6 billion euro, while increased borrowing costs are responsible for 3.6 billion, according to Finance Minister Roland?Lescure. After a meeting of lawmakers, budget minister David Amiel said to reporters: "In light of the 6 billion euro cost...

Three sources with knowledge of the matter said that Mercuria sold aluminum in Europe at a price below what was assessed by the price reporting agency Fastmarkets. This suggests the global benchmark may not always reflect the prices buyers are willing to pay. The price of European aluminium has risen following the Iran War, which disrupted Middle East supplies. Fastmarkets is used widely by both producers and consumers for large-volume trades of aluminium, which is used in construction, packaging, and transport. A source said that Mercuria had failed to get bids when it attempted to sell aluminium earlier this month...

The Dutch government estimated on Monday that the European Union could supply enough kerosene for the EU economy to last about five months. This would be based on domestic production and strategic reserves. The Iran War has caused a potential shortage of jet fuel within the next few weeks. In a letter sent to the Dutch parliament, it was stated that the domestic supply of jet fuel (or kerosene) is 78% below normal levels as most imports have ceased. The Netherlands is home to several of Europe's biggest refineries, located in the Port?of Rotterdam. The government announced measures to protect...

U.S. president Donald Trump dismissed Monday his top energy official's view that gasoline prices won't drop until 2027. He said Americans can expect lower costs once the Iran War ends. Chris Wright, the U.S. Energy Secretary, told CNN on Sunday that gasoline prices below $3 per gallon could happen this year but that it might not be until next year. "I don't think he is right on that." Trump said to a reporter for The Hill that he was "totally wrong" and added that the prices would be expected to drop as soon as this conflict ended. Wright, who was...

Sources familiar with the situation say that Vice President JD Vance remains in the United States and has not yet left for Pakistan. The prospects of a second round with Iran are still unclear. Donald 'Trump said that he would be sending a delegation of 'U.S. A delegation will be sent to Pakistan to continue the talks before a ceasefire expires in upcoming days. A senior Iranian official said on Monday that Iran was 'considering' attending the peace negotiations, but there had not been a decision made. Second source said that the U.S. delegation has not yet left, but is...

The Dutch government announced temporary tax breaks on Monday to compensate for the rising cost of fuel. It also said it was preparing a broader package of measures in case energy prices worsen. The government allocated around 1 billion euro ($1.2 billion) to temporary tax relief measures for commuters and truck drivers, but did not lower fuel taxes as many of them requested. These measures include targeted support to lower-income people with energy bills and a?support for homeowners to reduce their consumption. The government stated that there are no immediate fuel shortages as European oil, jet fuel and diesel supplies...

Chris Bowen, Australia's Energy Minister, said that the country would ease up on its standards for fuel quality until September. This is because of a deterioration in fuel supplies due to the war with Iran. Bowen made a televised statement: "I have decided to extend the period for higher sulphur in petrol in Australia." The relaxation announced in March increases the amount of allowed sulphur in fuel from the usual 10 parts to 50 parts. As the war, now in its eighth week, disrupted supply chain, Australia has seen localised shortages. Bowen?said that the production of diesel, jet-fuel and petrol...

The U.S. The?U.S. Department of Energy announced on Friday that it had lent 26.03 million barrels of oil from the Strategic Petroleum Reserve (SPR) to nine oil firms. This is the third allocation under?the Trump Administration's efforts to curb fuel costs, which?have risen since the U.S. and Israeli war on Iran. In March, the 'Trump Administration' agreed to release 172 millions barrels of crude oil from the Strategic Petroleum Reserve in coordination with the International Energy Agency to draw down 400,000,000 barrels to try to control fuel costs that spiked because of the war. Energy companies are required to pay...

Lebanese president Joseph Aoun stated?on? Friday that the ceasefire agreement reached by his country would be "transformed" into "permanent agreements." He did not specify whether he meant a potential peace deal with Israel. His televised speech was his first since the U.S. brokered on Thursday a ceasefire that ended six weeks of fighting in Israel between Iran-backed Hezbollah and Israel. In the text of this deal, Israel and Lebanon will hold direct talks in order to achieve "peace between?the two countries." Aoun expressed gratitude to President Donald Trump of the United States and other regional countries who helped secure the...

Three sources claim that India's central banks has urged the state-run oil refineries to reduce their dollar spot purchases and use a special credit line to meet their foreign exchange requirements. This is a return to the measures taken during the Ukraine conflict to help ease the pressure on the rupee. The Indian currency has been battered by a surge in oil price and heavy outflows of foreign portfolios. The Indian currency has dropped more than 3% this year to new lows, making it Asia’s worst performing major currency. Two sources claimed that the use of the special credit facility...

Israel and Lebanon will implement a 10-day truce beginning at 5 pm EST (2100 GMT) Thursday in order to facilitate negotiations towards a permanent "security and peace" agreement. The U.S. State Department said that the ceasefire could be extended mutually. Israel's campaign against Lebanon is a major obstacle in achieving a peace agreement sought by U.S. president Donald Trump in order to end his war with Iran, which he began?with Israel late February. This has disrupted global energy trade and risen oil prices, risking further economic fallout. According to the U.S. State Department, once the ceasefire agreement is signed, the...

French Finance Minister Roland Lescure announced on Thursday that the Group of Seven finance and central bank chiefs had agreed to be ready to "act" to reduce economic and inflation risk caused by Middle 'East war energy price and supply fluctuations. Lescure told reporters at the International Monetary Fund's and World Bank's spring meetings that the outcome of the global economy depends on the speed with which the conflict is resolved. The International Energy Agency, with the support of the G7, released last month a record-breaking amount of oil from its strategic reserves in order to counter the cuts of...

Investors remain cautious, as they 'look to tentative U.S.Iran talks as well as a upcoming Senate confirmation hearing of Kevin Warsh as Federal Reserve Chairman nominee. At 9:33 am EDT (1333 GMT), spot gold was down by 0.9% at $4,776.49. U.S. Gold Futures for June Delivery fell by 0.7% to $4795.40. Dollars in other currencies are now paying more for greenback-priced gold. The weekend's events and mixed rhetoric have made the markets hesitant. This may keep gold in a tight range for the time being and limit 'bulls' until there is certainty, said Zain Vawda. Analyst at MarketPulse. He said...

Copper prices fell on Monday as the Strait of Hormuz was closed again to marine traffic. A fragile ceasefire between Iran & the United States looked in danger, reigniting fears over the economic growth. In open-outcry official trading, the benchmark three-month 'copper' on the London Metal Exchange fell 0.8% to $13,235 per metric ton. Last week, the metal gained 3.9% on the optimism that the ceasefire would hold and Iran's announcement on Friday that commercial vessels could now enter the Strait. The?U.S. The?U.S. then seized a cargo ship from Iran that was trying to blockade the strait on its own....

MOSCOW, 20 April - Russian aluminum maker Rusal blamed Monday high interest rates and a strong Russian rouble for its unspecified loss in the first quarter, which was recorded despite an astronomical rise?in prices of metal around the world. Last week, prices reached a four-year high as a result of a blockade of Strait of Hormuz. This is the route through which up 9% of global aluminium trade travels. The company stated in a statement released on Monday that "Rusal can't take advantage of current pricing conditions" as all margins go to European and North American companies. Rusal claimed that...

The U.S. is hosting further discussions in the coming weeks for the Group 20 major economies about the impact of war in the Middle East on food and fertiliser, as they 'continue to push for coordinated actions. The U.S. will make this pledge in a statement by the chair of the G20. It will be made during a meeting between G20 finance minsters and central bankers held on April 16 at the Spring Meetings of the International Monetary Fund (IMF) and World Bank. Before its official release on Monday, a copy of the statement was released instead of a communiqué...

The International Aluminium Institute reported that the primary aluminium production rate in the Gulf region fell by 6% from the previous month in March. They cited an "obvious effect on the market" due to the Middle East war. The IAI data provides an initial estimate of the damage to the aluminium supply due to the conflict. This has seen two of the largest smelters in the region attacked by Iran and impacted the shipping to export markets. The IAI said in a press release that the daily production of 'the Gulf countries', which account for around 9 percent of global...

Sabanci Holding, a Turkish conglomerate, announced that it would sell the remaining shares of cement maker Akcansa Cimento and exit retailer CarrefourSA. Analysts say the conglomerate is looking to streamline operations by selling assets with low margins of profit. According to a Monday filing, Heidelberg Materials purchased Sabanci's 39.72% share in Akcansa. The deal valued the company at $1.1billion on an enterprise-value basis. The transaction value wasn't disclosed. The deal will see Heidelberg Materials double its stake in?Akcansa from 69.44% to 79.44%. Akcansa has three cement plants and 26 ready-mixed?plants. It also operates five aggregate quarries, and five terminals for...

The 'dollar strengthened on Monday, and gold prices fell. Meanwhile, news that the 'Strait of Hormuz was closed again drove oil prices up. Inflation fears were revived by the news that the Strait of Hormuz would be closed once more. As of 0155 GMT spot gold was down 0.4% to $4,809.71 an ounce after reaching its lowest level since the April 13 session earlier in this session. U.S. Gold Futures for June Delivery fell 1% to $ 4,829.40. Ilya 'Spivak is the head of global macro at Tastylive. He said that gold prices were lower today after the U.S. -...

In the first quarter of 2026 sales of electric cars jumped almost a third on the main European auto markets, as consumers sought alternatives to combustion engines after the war in Iran caused the highest spike in petrol prices for years. Data collected by the trade association E-Mobility Europe, and research firm, New Automotive, on Monday showed that new battery-electric vehicle registrations (BEVs), a proxy of sales, increased 29.4% in comparison to a year earlier, reaching almost 560,000 during the first quarter. They were also up 51.3% in March, with over 240,000 vehicles registered in 15 European markets. The ACEA...

The gold demand at one of India's most important?buying festival remained muted as record prices curbed jewellery sales, offsetting an increase in investment demand. Indians celebrated Akshaya?Tritiya as the second biggest gold-buying holiday?after Dhanteras. The sharp rise in jewellery prices has curbed demand. "The sharp rise in prices curbed jewellery demand." Gold prices have fallen to a level of $4,861 from a high of $5594.82 on January 29, and now trade at around $4,861. Gold futures for 10 grams in India, which is the second largest gold consumer in the world, closed Friday at 154 609 rupees, or $1 670,...

Aluminum prices dropped on Friday, after Iran's foreign minister announced that all commercial vessels could pass through the Strait of Hormuz for a period of time remaining in the ceasefire. Benchmark 'three-month' aluminium at the?London Metal Exchange was down by 2.6% to $3,549 per metric ton as of 1601 GMT. The reopening of Strait of Hormuz where navigation was largely suspended after U.S. and Israeli attacks against Iran began on 28 February improves prospects for exports of aluminium from the Gulf -region which account for approximately 9% of the global supply. The Strait is used by producers in the area...

Aluminum prices reached a four-year-high?on Friday as traders assessed?the extent of damage to the global supply caused by the U.S./Israeli war with Iran. Meanwhile, hopes for a possible peace agreement boosted other base metals. The benchmark three-month aluminum on the London Metal Exchange increased 0.4% to $3.636 per metric ton during official open-outcry trade after reaching $3.672, its highest since March 24, 2020. The record high was $4,073.5 on March 7, 2022 when the markets were dealing with 'the immediate aftermath of Russia's invasion in Ukraine. Global aluminium is experiencing a'supply shortage this year as a result of the Iran...

Official data released on Thursday showed that China's primary aluminum production rose 2.7% from the previous year, as fears of supply due to the Iran conflict boosted prices. According to the National Bureau of Statistics, aluminium?production increased?to 3,85 million metric tonnes in March. The data shows that in the first quarter of this year, China produced 11.41 million metric tonnes of primary aluminum, an increase of 3.1% compared to the previous period. Around 9% of the global supply of aluminium comes from the?Gulf Region. Aluminium prices rose after the 'Iran's move to disrupt traffic in the Strait of Hormuz, and...