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Flyers win shootout against Canes, earning first playoff spot in six years
Tyson Foerster's lone goal in the shootout, which included an extra round, gave the Philadelphia Flyers the 3-2 win over the Carolina Hurricanes. This was the penultimate match of both teams' regular season. The Flyers' first postseason appearance since 2020 was secured by securing?the two-point win. Trevor Zegras and Matvei Mikkov scored regulation goals for Philadelphia (42-25-12, 96 points). They have won five out of six games. Dan Vladar saved 24 shots, including all four Carolina shootout attempts. Bradly 'Nadeau scored the other goal, and Nikolaj Ehlers also had a goal. The Hurricanes (52-22-7 with 111 points) clinched first place in the Eastern Conference despite their loss. Brandon Bussi made 18 saves. Jackson Blake of Carolina hit the goal post when he cut across the slot at about 1:15 in the five-minute extra period. Philadelphia tied the game at 2-2 with two goals in the second period. Michkov scored the Flyers' first goal at 7:57 of the second period after receiving a cross-ice passing from Denver Barkey. Zegras scored a power-play goal at 9:29 in the middle of the period to tie it. He received a pass just below the right circle and had time to move a few steps to his left before he fired a shot past Bussi. Porter Martone's point streak now stands at five games. He has seven points (three goals and seven assist) on his record. Nadeau's goal came 8:41 after the start of the game. He converted Ehlers’ pass from behind net with a?one-timer shot from the'slot. Ehlers' power-play goal made it 2-0 with 4:30 remaining in the first period. Vladar was beaten by his shot, which came from the right side of the circle. Christian Dvorak was sent off for 'holding' after Ehlers scored his 25th goal. Philadelphia's win eliminated Washington and Columbus from playoffs. On Tuesday, these?two teams will play a meaningless match in Columbus. In preparation for the upcoming playoffs, the Hurricanes rested Sebastian Aho and Seth Jarvis as well as captain Jordan Staal and Andrei Svechnikov, and Jaccob Slavin, Shayne Gostisbehere, and Jaccob Slavin, both defensemen. Field Level Media
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South Korea's Lee warns Middle East Conflict will keep oil prices high and orders quick aid distribution
South Korean President Lee Jae Myung said that the rising tensions in the Strait of Hormuz make it difficult to be optimistic regarding the aftermath of the Iran War. He warned that high oil prices, and supply chain strains are likely to continue for a long time. Lee said at a cabinet gathering on Tuesday that the government should accept a prolonged disruption in global raw materials and energy markets and strengthen its emergency response system. Lee stated that "for the moment, problems in global energy and raw material supply chains as well as high oil prices will continue." I ask that we prioritize the national strategic projects of developing alternative supply chains, industrial restructuring on a medium to long term basis, and the transition to a "post-plastic" economy. Lee also called on?ministries? to move quickly in order to?deploy the supplementary budget that was passed as a response to war. Ministers discussed ways to limit the economic impact of the conflict. These included support for crude imports as well as controls on hoarding petrochemical feedstocks, medical supplies and other essentials. They also provided financial assistance to affected companies. Kim Jung-kwan, Industry Minister of South Korea, said that disruptions in shipping through the Strait of Hormuz still affect supplies. Even if the passage returns to normalcy it may take 20 days for Middle Eastern goods to reach South Korea. A document presented during the cabinet meeting stated that the government will prioritise support for the passage of seven oil tankers bound for South Korea but stuck in the Gulf. Foreign Minister Cho Hyun said at the meeting that officials from the ministry have been sent to the Congo, Algeria and Libya to secure energy supplies. Kang Hoon Sik, the chief of staff to the president, has also been travelling to countries like Kazakhstan since last week. Lee added: "I urge all parties to this war to make courageous moves toward the peace that the world so desperately desires, based upon the principles of universal human rights protection and lessons from history."
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Oil and dollar decline on hope for US-Iran Resolution
Asian stocks rose on Tuesday, while oil prices and the safe haven dollar fell. The U.S. claimed it was "continuing to engage" with Tehran in order to reach a deal despite the fact that it had blocked Iran's port after the collapse of the peace talks at the weekend. A U.S. official stated that there is progress in trying to reach an agreement. MSCI's broadest Asia-Pacific share index outside Japan rose 1% during early Asia trading, while Japan's Nikkei soared more than 2% and South Korea's KOSPI grew by over 2%. Following an overnight rally in Wall Street, Nasdaq Futures rose 0.13%, S&P futures remained unchanged, EUROSTOXX50 futures rose 0.63%, and DAX Futures gained 0.77%. Charu Chanana is Saxo's chief Investment Strategist. The failed weekend talks didn't produce a deal but they didn't?close the doors on diplomacy. That is enough to allow equities for now to continue pushing higher." Donald Trump, the U.S. president, said that Iran "called this morning", and "they would like to work out a deal". Could not verify the claim immediately. In the meantime, the U.S. Military began a blocking of Iran's port in an effort to?put pressure on Tehran. Trump said that Washington would block Iranian vessels, and any ships who paid such tolls. The U.S. played the trump card. It's important to me because it forced Iran to open up the Strait, without needing to put boots on the ground", said Tony Sycamore a market analyst with IG. The Iranians are now forced to rethink their plans. Brent crude futures fell 2.7% to $96.66 per barrel as the expectations of a resolution overrode concerns about supply disruptions. U.S. crude futures fell 3%, to $96.13 a barrel. DOLLAR AT THE BACKFOOT The dollar dropped to a 1-1/2 month low of 98.328 on Tuesday against a basket currency, as a buoyant risk-taking sentiment dampened the demand for world's reserve currency. The euro was trading at $1.1764, a 0.05% increase. Sterling rose to $1.3514, a six-week high. "The ?U.S. "The?U.S. The markets, however, are still facing an economic outlook which is deteriorating. I believe the risk of equity markets, credit markets, and other markets falling again are high, and this would likely push the U.S. Dollar up against all currencies. The yields on U.S. Treasury bonds were not much different. The two-year yield was at 3.7722%, while the benchmark 10-year rate stood at 4.2854%. Investors are preparing for the possibility of a number major central banks raising interest rates. This is a dramatic change from what investors expected before the war, when they were expecting rate cuts or an extended pause. Gold spot was also up 0.7%, at $4,771.81 per ounce. Bitcoin, the cryptocurrency, increased by 1.5% and now stands at $74,312. Reporting by Rae Wee, Editing by Kevin Buckland
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Oil prices drop as US-Iran talks ease supply concerns
Early Asian trade on Monday saw oil prices fall as signs of a?potential U.S. Iran dialogue to end the?war decreased concerns about supply risk resulting from?the U.S. Blockade of Strait of Hormuz. Brent futures fell $1.86 or 1.87% to $97.50 while U.S. West Texas Intermediate crude (WTI), which is a blend of U.S. West Texas Intermediate and West Texas Intermediate, dropped $2.25 or 2.27% to $96.83 at 0003 GMT. The benchmarks both rose in the previous session. Brent had gained more than 4%, and WTI almost 3% after the U.S. began its blockade against Iran's ports. The U.S. Military said on Monday that its blockade of Strait of Hormuz will extend east to the Gulf of Oman, and Arabian Sea. Ship-tracking data showed two ships turning around in the strait when the blockade was implemented. Iran has threatened to attack ports in Gulf countries after the weekend talks that were supposed to resolve the crisis in Islamabad failed. Tim Waterer is the chief market analyst at KCM Trade. He said that despite the failure of the peace talks in Pakistan, Trump has managed to take a little steam out of oil prices by dangling the carrot of a possible deal. Sources familiarized with the negotiations confirmed that dialogue between Iran, the U.S. and Pakistan was still active. Pakistani Prime Minister Shehbaz Shaif also confirmed ongoing efforts to deescalate tensions. Trump stated on Monday that Iran is "willing to make a bargain". ANZ analysts estimate about 10 million barrels of crude oil per day have been removed from the market. They also added that a U.S. Blockade that is prolonged could reduce crude shipments by an additional 3 to 4 million bpd. The oil market does not need a worst case scenario to justify higher prices. ANZ stated in a note to clients that tight balances are enough to keep the price of Brent at or above recent thresholds. NATO allies, including Britain and France, did not join the blockade. Instead, they advocated for the reopening of the vital waterway. Chris Wright, the U.S. Energy secretary, said that oil prices would peak "in the next few weeks", once shipping through Strait of Hormuz resumed. The International Monetary Fund (IMF), the World Bank and the International Energy Agency have urged nations to refrain from hoarding or restricting energy exports in the face of what they describe as the greatest shock to the global energy markets. Fatih 'Birol, the IEA chief, said on Monday that although further strategic oil'releases may not be required yet, the agency is prepared to act if necessary. In its latest monthly report, the Organization of the Petroleum Exporting Countries (OPEC) has revised its forecast for global demand in the second quarter by 500,000 barrels per day. Anmol Choubey, Bengaluru. Chris Reese & Sonali Paul edited the article.
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Antofagasta flags up fuel and sulfuric acid prices as the main risks in spite of steady operations
Ivan Arriagada, the Chief Executive of Antofagasta Minerals, said that rising fuel costs and sulfuric acids are their biggest concerns in the near future, despite the fact that its 'operations' and project pipeline continues to progress steadily. Arriagada, in an interview with Reuters on Monday, said that the company is most concerned about the rising cost of fuel and oil. He said that "we have seen an increase in the price of certain inputs, such as sulfuric acid, explosives and, to a certain extent, energy." "That's happening in a context where, while the copper price has fallen, it has remained at an essentially favorable level." Arriagada stated that the company has contracts for long-term use of sulfuric acid. He said Antofagasta continues to monitor?the market as the delivered price of?sulfuric?acid has increased in Chile. He said that Chile is a net exporter of the inputs for the copper industry. Global market conditions also have affected trade flows. "We?are closely observing developments?in?the market," Arriagada - said. If this worsens, and supply shortages continue to increase, we could be affected.
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EU agrees to halve steel imports by doubling tariffs
The European Union has reached a preliminary agreement on Monday that will nearly halve steel imports and impose 50% tariffs on any excess shipments in order to protect its steel industry against overproduction elsewhere. Due to?increased imports and tariffs of 50% imposed by President Donald Trump, EU steel producers operate at only 65% of their capacity. The new measures are designed to increase capacity utilization to 80%. Representatives of the European Parliament and the Council, which represents the EU governments, decided late on Monday that tariff-free imports would be limited to 18,3 million metric tonnes?per annum, a reduction of 47% compared to 2024. The out-of-quota duty will also double. In the past year, steel imports from Turkey, South Korea and Indonesia were the main sources. EU steel is currently protected under safeguards that were put in place by Trump during his first term. These include import quotas with 25% tariffs on any goods above these limits. Under World Trade Organization rules however, they must expire eight years later - June 30. The European Commission, who proposed new measures in November, stated that the EU "steel industry" has lost around 100,000 jobs since 2008. The new measures are designed to take into consideration where the imported steel was melted and poured in order to prevent circumvention. They will also be reviewed regularly to ensure they remain effective. Both parties agreed to eliminate imports of Russian steel as soon as possible, perhaps by September 2028. Last year, 3.7 million tons of steel slabs were imported from Russia into the EU. For the new measures to come into effect, both the parliament and council will have to vote on the agreement reached Monday.
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US Energy Secretary: Peak oil prices likely to arrive 'in the next few weeks'
Chris Wright, the U.S. Department of Energy's Secretary of Energy, said on Monday that oil prices will likely reach their peak in the "next few weeks" when ship traffic returns through the Strait of Hormuz. Wright, speaking at the Semafor World Economy Forum, said that despite his previous statements, oil prices are likely to rise until "meaningful ship traffic" resumes through the Strait. Wright stated that "energy prices will be high, and possibly even rise until we have meaningful ship traffic in the Strait of Hormuz." This will?probably be the time when oil prices are at their peak. It's likely to be in the next couple of weeks. The U.S. president Donald Trump admitted on Sunday that oil and gasoline prices may continue to be high until the November midterm elections. This is a rare admission about the possible political consequences of his decision to attack Iran just six weeks earlier. Since the war began on February 28, Iran has blocked the Strait of Hormuz to all ships except its own. Tehran is attempting to permanently control the waterway and collect fees from ships using it. After weekend talks failed to resolve the conflict, the U.S. Military has responded by launching a blockade of this Strait. It said it would also extend eastward to the Gulf of Oman, and the Arabian Sea. Two ships were seen to turn around as a result of the blockade. Wright gave an update of oil production in Venezuela after the U.S. captured President Nicolas Maduro, on January 3. The interim government then led a reform to the main oil law, which was approved by the end of the month and encouraged foreign investment. He stated that 150 million barrels?of Venezuelan oil have been sold since the U.S.?captured President Nicolas Maduro on January 3, and production has increased by 25%. Wright teased the announcement of Chevron's intention to increase production in Venezuela. On Monday, the oil major signed a?swap agreement that added an extra area of heavy crude to its main project, while returning an area of offshore gas and crude.
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TRADING DAY: US stocks rise, dollar falls on hope for Iran war negotiation
Wall Street's major indexes closed sharply higher Monday, as investors hoped for a de-escalation of the Middle East and focused on the first quarter earnings season. Below, I'll go into greater detail about today's market?moves. Here are some articles that I recommend if you have the time to read. They will help you understand what has happened. Before you continue reading, please sign up for Jamie McGeever’s upcoming LSEG Webinar on April 23 where I will be discussing safe havens during uncertain times with Mike Dolan from ROI. Today's Key Market Moves: STOCKS: European shares close lower due to the Iran War, while U.S. stock prices rally late in the session on signs of peace negotiations. SECTORS/SHARES : Nine of 11 major sectors of?the S&P500 closed higher with financials and technology stocks leading. FX: Dollar declines for 6th straight session after Strait of Hormuz 'blockade' takes effect. BONDS : Benchmark U.S. Treasury Yields Today's key Reads The U.S. Military says that it will block all maritime traffic into and out of?Iran ports Crude oil returns to $100 per barrel Peter Magyar, the winner of Hungary's election, promises constitutional changes and renewed EU relations Goldman Sachs' shares drop on "fixed income weakness" but it beats expectations for a quarter-end profit Pope Leo says he will continue to speak out against war in the wake of Trump's attack Today's Talking Points Are AI disruption fears exaggerated? S&P 500 Software & Services Index has been hit hard in recent months, with a drop of 23.5% this year. This is due to fears that artificial-intelligence technology could disrupt this group of stocks which includes Oracle and Salesforce, among others. The index rose 4.6% at the close of Monday. * Earnings This week marks the start of the first-quarter earnings season, and it is dominated by big banks. LSEG data shows that analysts now expect an aggregate growth in S&P 500 earnings of 13.9% year-on-year, down from a previous forecast of 14.4%. * Inflation/gasoline Prices President Donald Trump warned that prices of gasoline and oil could continue to rise through the midterm elections as a result his decision to attack Iran. Joanne Hsu of the University of Michigan's Consumer Surveys, in a press release on Friday, cited the soaring gasoline prices as a factor that contributed to the index reaching a new low. What is likely to move the markets tomorrow? What could move markets tomorrow? Want Trading Day delivered to your inbox each weekday morning? Subscribe to my newsletter by clicking here. The opinions expressed here are the author's. These opinions do not represent the views of News. News is committed to the Trust Principles and adheres to a policy of integrity, independence and neutrality.
In Europe, record EV sales are driven by rising petrol prices in March
Benchmark Mineral Intelligence revealed on Tuesday that high petrol prices in Europe drove car buyers to EVs, leading to the first global EV growth month this year.
Fuel prices have been capped by governments around the world to protect motorists from rising costs. The war in Iran that erupted Feb. 28 disrupted an important shipping route which carried about 20% of the global oil supply.
BMI reported that registrations of new battery-electric cars and plug-in hybrids rose by 3% on an annual basis globally, to more than 1.7 million vehicles. In Europe, the number of EVs sold reached a record high of 540,000 per month, up 37%.
Charles Lester, BMI's data manager, said that while car registrations are behind sales "a large part of this can be attributed to the rise in petrol costs".
Lester said that the growth was strongest in countries where energy prices rose the most, such as Australia, New Zealand and Thailand. These four countries together accounted for a 79% increase in EV registrations, outside of the three major markets in China, Europe, and North America.
CHINA AND U.S. DECLINE SLOWS
EV registrations fell 14% in China's biggest car?market to more than 850,000 cars sold. This is a slowing of a downward trend that began in January when the country stopped funding?for trade-ins, and a tax exclusion on EV purchases ended.
Lester stated that "Chinese consumers who had taken advantage of the incentives and bought smaller EVs are increasingly choosing larger vehicles."
EV registrations in North America?fell 30%, to 121.500 vehicles, in the'month. This is the sixth consecutive drop year-on-year after the end of a EV tax credit program in the 'United States, and the proposals made by President Donald Trump to further reduce CO2 emission standards.
Lester stated that "it has been its highest month-to-month figure since the end of the tax credit, but in reality the pullbacks have occurred". Reporting by Alessandro Parodi, Gdansk. Editing by Louise Heavens.
(source: Reuters)