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Hegseth: Iran's future is in the hands of Hegseth, and Tehran has threatened US business interests in the region
Hegseth warned Tehran on Tuesday that the next few weeks in the war with Iran would be decisive. The conflict would escalate if Tehran did not reach a settlement. Iran's Revolutionary Guards have responded with a new warning, saying they will "target U.S. firms in the region as retaliation" for attacks against?Iran starting Wednesday. They listed 18 groups, including Microsoft, Google Apple, Intel IBM, Tesla, and Boeing. Iran'set ablaze' a fully-loaded oil tanker near Dubai. This is its latest attack against merchant vessels in Gulf waters or the Strait of Hormuz, since the United States attacked Iran on 28 February. Donald Trump, the U.S. president, threatened to destroy Iran's power plants on Monday if Iran refused to agree to a deal for peace and to open the Strait of Hormuz. This vital waterway is used by oil shipping around world but has been effectively blocked by Iran. HEGSETH SAYS THAT TRUMP IS WILLING TO MAKE DEAL Trump criticized countries on Tuesday that had not contributed to the war. This included France and Britain. He said they should have "some delayed courage" and cross the Strait and obtain their own oil. According to sources, France has not allowed the use of its airspace for U.S. weaponry to be used in the war. Hegseth said that he had visited U.S. soldiers in the Middle East, and that talks were continuing and strengthening. However, if Iran refused to comply, the U.S. would be prepared to continue its war. Hegseth, who spoke in Washington, said: "We have many more options and they have fewer. In only one month, we have set the terms and the next days will be decisive." "Iran is aware of this, and they have little to no military options." The conflict, which has lasted for a month, has affected the entire region. It has killed thousands of people, disrupted energy supplies, and threatened to throw the global economy in a tailspin. OIL PRICES SET FOR RECORD GAIN MONTHLY After the attack on the tanker which could carry 2 million barrels worth of oil at current prices, the price of crude oil briefly spiked. The higher oil and fuel costs have begun to affect the household finances of Americans and Trump's Republican Party ahead of November's midterm elections. GasBuddy, a price tracking service, reported that the average U.S. retail?price for gasoline surpassed $4 per gallon on Monday. This was the first time in over three years. Brent crude futures rose 4.7%, to $118 per barrel. This is on track for a record-breaking monthly gain. The authorities in Dubai confirmed that the fire aboard the Kuwait-flagged Al-Salmi was brought under control after a drone strike. There were no oil spills and no injuries among the crew. Kuwait Petroleum Corp., the ship owner, confirmed that the vessel's hull had been damaged. Photos of the Al-Salmi also confirmed this. According to TankerTrackers.com, LSEG data indicated that the vessel was headed to Qingdao, China and carried 1.2 million barrels Saudi crude oil, and 800,000 of Kuwaiti crude. Al-Salmi was not the intended target. Iran's Revolutionary Guards claimed they targeted a container vessel in the Gulf because of its links with Israel. According to shipping data, they seemed to be referring to the Singapore-flagged Haiphong express, which was anchored near the Al-Salmi. INTERNATIONAL ATTEMPTS TO MEDIATION U.S. Gen. Dan Caine, Chairman of the Joint Chiefs of Staff in Washington, told reporters that the U.S. continued to destroy and degrade Iran's capability. He claimed that the U.S. Military was still striking key research and manufacturing sites, and had "taken out more than 150 Iranian naval ships". Hegseth claimed that U.S. attacks were leading to widespread desertions from Iran. Two U.S. officials said on Monday that thousands of elite soldiers from the U.S. Army 82nd Airborne Division had begun arriving in the Middle East. These reinforcements could increase Trump's options, including a ground attack in Iran. Pakistan seeks to mediate the conflict as attacks show no signs of abating. China and Pakistan's foreign ministers called for a ceasefire immediately on Tuesday, after their meeting in Beijing. They also urged peace talks as soon as possible. Iran has been defiant in the face of heavy U.S., Israeli and other attacks over the last month. The U.S. peace proposal was received via intermediaries but the foreign ministry spokesperson said that they were "unrealistic and illogical". NEW ATTACKS The war continues to spread. Houthis, who are aligned with Iran, in Yemen have entered the conflict by firing on Israel. Turkey reported Monday that an Iranian ballistic missile had entered Turkish airspace, before it was shot down. The war has also rekindled conflict between Israel, which is backed by Iran, and Hezbollah in Lebanon. Iran, which has suffered the most casualties, has targeted targets in Gulf Arab states where the U.S. maintains military bases. An official from the province told Iranian media that a strike on a Shi'ite muslim congregation hall in Zanjan, located in northwestern Iran, killed three people. Under intelligence guidance, the Israeli military announced on Tuesday that it had carried out airstrikes overnight in Tehran, targeting a factory producing ballistic missile warheads, research sites for weapons and missile launchers. In two separate incidents, three U.N. Peacekeepers from Indonesia were killed by four Indonesian soldiers in southern Lebanon.
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Construction materials supplier BRCK soars after rejecting Atlas takeover proposal
BRCK Group's shares soared more than 24 percent on Tuesday, after the UK-based construction materials supplier announced that it had rejected a 65-pence-per share takeover?approach by U.S. private-equity firm Atlas Holdings last week. The group claimed that its board unanimously rejected the non-binding offer of cash on 23 March, saying that it fundamentally undervalued?the?company. Atlas stated that BRCK board will only provide limited additional information. While it will'review what is shared,' it doubts such minimal details will 'allow it to confirm a proposal. LSEG data shows that the proposal valued BRCK (which distributes bricks and roofing tiles, as well as other construction products) at approximately 209.4 millions pounds ($276.37million), according to LSEG. The approach, which was first made in February this year, has added BRCK as another London-listed company that is attracting?interest from foreign buyers looking to benefit from the relatively low UK equity valuations. Private equity firm De La Rue, which purchased banknote 'printer De La Rue 2025, is required to make a 'firm offer' for BRCK by April 28th, according to UK takeover regulations. Atlas has until the 28th of April to make a "firm" decision to either accept or reject an offer. BRCK'shares are up almost 32% as of 0754 GMT after losing nearly 27% this?year.
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South Africans fight against mine rush in biodiversity hotspot
The West Coast of South Africa is facing a mining boom Rare earth minerals are needed for renewable energy * Locals protect the environment through legal means (adds details on permit applications in paragraph four). By Kim Harrisberg Mining is already taking place on large parts of the coast. According to civil society group Protect The?West Coast, South Africa's West Coast has been mined and prospected by mining companies for?minerals such as diamonds and rock phosphate. 48 new mining requests were submitted in 2026. Department of Mineral and Petroleum Resources, DMPR, said that these figures were not the same as its own and stated that it received six applications for prospecting and two applications for mining permits in Western Cape Province. It did not provide figures for the remainder of the West Coast. In recent months, local groups, including artists, indigenous leaders, and scientists, have launched petitions, legal actions, and campaigns citing the risks associated with mining in the area. The West Coast is nearing a tipping-point. Mike Schlebach, PTWC's managing director, said that we risk losing birds, wildlife and ecosystems which cannot be recovered. Solar panels and windmills can use heavy minerals such as zircon and rutile. According to the International Energy Agency, the demand for these green minerals required in the energy transformation is expected to triple by 2030. According to PTWC, inland 1,800 square kilometres are reserved for diamond mining. In the Western Cape, up to 2,900 sq kms can be used for prospecting. A PTWC report stated that the West Coast has been mining for decades and the land equivalent to 5,000 football pitches - or 37.5 square kilometres – is not in an 'environmentally-healthy state. The sand slopes and open pits are evidence of decades of diamond mining in the region. The DMPR stated that it couldn't confirm this figure and that certificates of closure were only issued after mining companies completed rehabilitation following an inspection. According to PTWC, only 10% of the area is protected at present and it is home to over 6,300 endemic animal and plant species. According to the department, expert studies and recommendations were used to determine if and under what conditions mining companies would be granted an environmental permit. Peter Carrick, University of Cape Town restoration plantist, said: "We must be very careful with the type of development that occurs and its manner of implementation." He said, "This is an incredibly beautiful and fragile landscape." NATURAL HERITAGE The West Coast is not only rich in biodiversity but also has a lot to offer indigenous groups, small-scale fishermen, and archaeological sites. Over 200 protesters met this month to oppose the boom in mining in the area. A five-metre-long driftwood sculpture of the gannet bird, made by a local sculptor to represent the fragility and diversity of native bird species. More than 60,000 people have signed a petition to prevent mining in the area. Gaob Martinus Fredericks is the leader of indigenous!Ama people (Nama). "We want to protect our children's livelihoods and our own as well as the natural heritage of our country." Fishermen's groups reported that they have seen a decline in fish populations over the years as mining has become more common. You can see the damage this has done to our ecosystems. Carmelita 'Mostert is the chairperson of Coastal Links South Africa small-scale fishermen organisation. She said that snoek (a type of mackerel found in southern hemisphere) runs were fewer. LEGAL CHALLENGES According to the constitution of South Africa, any mining company is required to consult with local communities before launching a project. A legal dispute can result if you fail to comply. In October 2024, PTWC released an app named Ripl to enable people to send their comments, appeals and objections related to mining projects directly to the government and to the mining companies. They call for an immediate moratorium on any mining that is planned until a complete social and environmental evaluation of the coast has been completed.
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The European and African oil market is tightening as Asia purchases more
As summer approaches, the European and African oil markets are tightening up. Asia is looking for supplies to fill shortages due to Iran's blockade of the Strait of Hormuz. This has been going on since last week. Iran's blocking of the Strait of Hormuz and the attacks on the energy infrastructure of Middle East Gulf countries and Iran have forced the shut down of 10 million barrels of oil per day from the Middle East. This production volume is at least 10% the daily global oil consumption. Asia is most affected by oil and natural gas interruptions because it relies heavily on Middle East supplies and is the largest oil-importing region in the world. Middle East Dubai oil benchmark reached a record high of $169.75 in March, breaking Brent futures previous record set in 2008. According to LSEG, North Sea 'Forties' crude rose to a $7.20 premium per barrel over Brent dated on Friday. This is the highest ever recorded. Paper markets around North Sea physical prices are also tight. The first week of short-term Brent Swaps Curve, also known as Contracts for Difference, which indicate the dated Brent price, was trading at $12.35 per barrel higher than the contract six?weeks?ahead, on March 27. This is a record. "Globally there are fewer available barrels, so those who need them bid up the prices," said Neil Atkinson. He is a former head of oil markets at the International Energy Agency, and an experienced oil analyst. ASIA IS BUYING MORE OPEC FROM EUROPE AND AFRICA Morgan Stanley analysts stated on Monday that Asian buyers who are looking to secure barrels of oil elsewhere and shortages have caused prices to rise for European buyers. Morgan Stanley analysts stated that "the supply is being diverted east comes from the pool?that Europe would use otherwise to balance itself," adding that more oil coming from West Africa is headed to Asia. On Monday, U.S. WTI Midland oil, which is used to set the dated Brent benchmark for Europe, was trading at a record $9.50 premium per barrel over dated Brent. This is almost $8 more than before the war began. Kpler estimates that crude?and product shipments from Europe to Asia, as well as from key West African producers Angola, Nigeria and other West African countries, will increase by about 200,000 barrels per day (bpd) in March compared to February, to reach 3.72 million bpd. Fuel shipments are even being rerouted from Europe to Asia and Africa as a result of the 'tough competition' for supplies. According to Energy?Aspects, four tankers carrying 168,000 metric tons of U.S. gasoil and diesel have been diverted from Europe towards South Africa over the past few weeks. The data also showed that at least four tankers, carrying 430,000 tons Middle Eastern and Indian Diesel, began sailing to Europe in late February or early March, and then made a U-turn towards Southeast Asia. The data showed that European gasoline cargoes were also headed to Asia, after Asian prices soared due to tight supply. Asia also took more crude cargoes out of Europe and West Africa.
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Iran's smelter attacks have caused a hole in the US aluminum supply chain
Analysts said that with the 'attacks' on two of the largest aluminium smelters across the Middle East, Iran targeted a'major supplier to the United States?of a metal strategic the United States does not produce nearly enough domestically. The disruption caused by the Iran War was most evident before the weekend. It was mainly due to the difficulties of shipping raw materials and aluminium through the Strait of Hormuz. This has been closed down by Tehran. Emirates Global Aluminium, however, reported that its Al Taweelah plant in Abu Dhabi (the United Arab Emirates), which produces approximately 1.5 million metric tons per year, suffered significant damage as a result of Iranian attacks on Saturday. Aluminium Bahrain reported that its 1.6 million ton/year plant was also targeted. Since then, neither company has provided an update. The attacks have shifted the focus from temporary shipping delays to a more serious threat for production in the area. Paul?Adkins of aluminium consulting AZ Global wrote on LinkedIn: "That changes risk's nature." London Metal Exchange aluminium price reacted Monday, jumping 6% to $3.492 per ton. This is close to four-year high. Tom Price, analyst at Panmure Liberum, said: "In this type of market, if you suddenly remove 3 million tons capacity, it can't be replaced." US DOMESTIC MANUFACTURING DWARFED IN THE MIDDLE EAST Aluminum, widely used in automobiles and packaging, and listed on the 60 critical minerals list by the U.S. Government is now facing supply-chain risk. According to the U.S. Geological Survey, the U.S. is 60% dependent on imports of aluminium. In 2025 it produced only 660,000 tonnes of primary aluminum, less than half of Alba's output. According to Trade Data Monitor, nearly 22 percent of the total 3.4 million tonnes of U.S. primary and alloyed aluminum imports last year came from the Middle East. The UAE, Bahrain and EGA, through which more than two thirds of the Gulf's aluminium is produced, are the United States' second and fourth largest suppliers. Iran claimed that both EGA, and Alba, were connected to U.S. Military Industries. The attacks came after Israeli strikes on two Iranian steel plants. Analysts are, however, sceptical. Uday Patel, senior research manager at Wood Mackenzie, said that there was no direct connection to the U.S. Military other than some of their metal could be used in military applications through a?long chain of processing and changing hands. Wood Mackenzie estimates that the U.S. military industry consumes 450,000 tons of aluminum annually. Price believes that the U.S. military gets most of its aluminum from Canada. While the U.S. military may not be directly affected, this does not mean that Iran's targeting Gulf oil and a possible?deepening conflict do not cause damage to the U.S. economy and other major economies. The stresses have already started to show up in industrial activity, and are further hindering planning which was already suffering from high levels of uncertainty," StoneX Analyst Natalie Scott-Gray wrote.
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Questions are raised about some trades made ahead of Trump's policy changes
Experts have questioned whether some of Donald Trump's most important policy decisions were preceded by timely bets. This is a list. March 23, 2026: 'IRAN ATTACK pause. An unidentified trader bet $500,000,000 on Brent and WTI futures within a minute, shortly before Trump announced a delay of five days to the attacks on Iran’s?energy Infrastructure. After this announcement, oil prices dropped 15%, according to exchange data and calculations. LSEG data indicates that between 1049 and 10:00 GMT, 5,100 lots were traded. Selling dominated the volume. In 60 seconds after Trump's 1105 GMT social media announcement, more than 13,000 lots, or 13 million barrels, traded. Brent fell to $99 from $112 per barrel and WTI to $86 from $99. IRAN STRIKES WHICH KILLED SUPREME ALI KHAMENEI February 28, 2026 – Wagers made on platforms such as Polymarket prior to the death of Iranian Supreme leader Ayatollah Alikhamenei heightened scrutiny on prediction markets. Democratic lawmakers called for a prohibition on?bets linked to military action that could reward people with privileged knowledge. Kalshi faces a lawsuit because it failed to pay $54million to bettors who predicted Khamenei's departure from office before March 1. The company claims that it doesn't offer markets where the outcome is determined by death. A review of Polymarket’s website revealed that at the time, $529 million had been wagered on contracts relating to the timing of U.S. and Israeli strikes against Iran. Another $150 million was bet on Khamenei being removed as supreme ruler. Trading yes-or no contracts allows users to wager on real-world events. Bubblemaps, an analytics firm, identified six accounts that had made $1.2 million in profit on Polymarket bets funded just hours before the raids of February 28. Mike Levin, a Californian U.S. Representative, highlighted a specific Polymarket bet made shortly before the Iran attacks. Separately traders moved the opposite way on February 27. Despite hotter than expected inflation data, which would normally prompt investors to sell Treasuries with a long maturity, they pushed yields on the 10-year benchmark note below 4%. Analysts say that such a shift to safe-haven assets is usually driven by macroeconomic events which are negative or where there is a strong expectation of one. The Dow Jones U.S. Airlines Index fell 5.13% that day, as oil prices increased. January 3, 2026 -- U.S. CAPTURE OF FORMER VENEZUELAN PRESIDENT NICOLASMADURO An unknown trader made a profit of approximately $410,000 by betting on the ouster?of Venezuelan president Nicolas Maduro. Before the weekend raid by U.S. Special Forces on Maduro’s Caracas compound, the trader’s account at Polymarket had built up contracts that were tied to Maduro’s removal. The terms implied high odds. These wagers were worth $34,000 before his capture. However, their value soared after the news broke of the U.S. military raid on Maduro's compound in Caracas. Trading data shows that unidentified traders bet millions of dollars in the minutes leading up to Trump's announcement about tariff pause. This led to a huge rally in April, last year. Trump's Truth Social message pausing tariffs was posted at 1:18 pm. ET on April 9 triggered a 9.5% increase for the S&P 500. Data from the market shows that certain option contracts have seen a surge in trading activity before it. Around 1 p.m., 5,105 call options for SPY were traded. The average price was $4.20. These calls rose to as much as $42 when stocks were rallying, turning $2.14 into approximately $21.44 on paper. Other SPY calls that bet on the ETF going above $509 were traded around 1:10 p.m. Their value increased from $624,000 to $10 million at the end of the day. The trader could not tell if the calls had been bought or sold by a single trader, or if they were purchased and sold by several traders. Kush Desai, White House spokesperson, said that government ethics guidelines prohibit federal employees from profiting from nonpublic information. In an email, he stated that any implication of Administration officials engaging in such activities without evidence was baseless and irresponsible.
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The European and African oil market is tightening as Asia purchases more
As summer approaches, the European and African oil markets are becoming more tight. Asia is seeking to supply supplies in order to meet shortages due Iran's blockade of the Strait of Hormuz. This has been going on for five weeks. Iran's blocking of the Strait of Hormuz and the attacks on the energy infrastructure of Middle East Gulf countries and Iran have forced the shut down of 10 million barrels of oil per day from the Middle East. This production volume is at least 10% of the?daily consumption of oil in the world. Asia is most affected by oil and natural gas disruptions because it relies on Middle East supplies and is the largest oil-importing region. Middle East Dubai oil benchmark reached a record high of $169.75 in March, breaking Brent futures previous record of $147.50 from 2008. According to LSEG, North Sea Forties crude rose to a $7.20 premium per barrel to dated Brent last Friday. This was the highest ever recorded. Paper markets around North?Sea prices are also tight. The first week of short-term Brent Swaps, also known as Contracts for Differences, which indicate the dated Brent price, traded $12.35 higher per barrel than the contract six months ahead on March 27. This was a record. "Globally there are fewer available barrels, so those who need them bid up the prices," said Neil Atkinson. He is a former head of oil markets at the International Energy Agency, and an experienced oil analyst. Morgan Stanley analysts reported on Monday that Asian buyers who are looking for valuable barrels in other places have been putting pressure on prices. ASIA IS BUYING MORE OIL OUT OF EUROPE AND AFRICA According to trade data and shipping sources, more European gasoline cargoes are heading to Asia as Asian prices have risen due to a tightening of supply. Asia is also importing more crude oil from Europe and West Africa. Morgan Stanley analysts stated that "the supply that is being diverted to the east comes from a pool that Europe could otherwise use to balance themselves." They also added that more oil coming from West Africa is headed to Asia, and that it can be traded between Europeans and Asians. "North Sea cargoes have now moved east despite seemingly unattractive arbitrage signals." Kpler reports that crude and product shipments from Europe, as well as key West African producers Angola, and Nigeria, to Asia are expected to increase by 200,000 bpd in March from February, to 3.72 millions bpd. On Monday, U.S. WTI Midland Crude, which is used to set the benchmark for dated Brent, was trading at a record $9.50 premium per barrel to dated Brent delivered to Europe. This is almost $8 more than it was before the start of the war. (Reporting from London by Robert Harvey, editing by Rod Nickel).
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Nxtra, owned by Bharti Airtel in India, raises $1 billion during data center boom
In a deal valued at $3.1 billion, India's Bharti Airtel owned Nxtra Data will raise $1 billion from Alpha Wave Global and Carlyle Global. Anchorage Capital is also a part of the deal. The deal is the latest of a series of investments made by Indian?conglomerates Reliance & Adani in recent months in data infrastructure to position India as an emerging hub for AI. India's role in the global AI boom is limited because of its lack of large-scale chip production. Data centers are therefore India's best entry point to this fast-growing market. Alpha Wave, a private equity firm, will lead the fundraise by investing $435 million. Bharti Airtel is expected to invest $290 million. Carlyle Global will pump in $240m, and Anchorage Capital $35m. Bharti Airtel, India's largest mobile carrier by users, has announced that it will keep its controlling interest in Nxtra. Nxtra plans to use the funds to expand its services and scale up its infrastructure. (Reporting by Nandan Mandayam in Bengaluru; Editing by Tasim Zahid)
Base metals largely greater on soft dollar, Trump tariff hazard caps gain
Base metals prices were largely higher on Thursday in the middle of a softer dollar, however gains were minimal as market individuals awaited more hints on prospective U.S. tariff policies.
Three-month copper on the London Metal Exchange (LME). increased 0.4% to $9,121.50 per metric load by 0224 GMT, while. the most-traded December copper agreement on the Shanghai Futures. Exchange (SHFE) advanced 0.1% to 74,470 yuan. ($ 10,284.78) a lot.
A softer dollar index on Thursday made greenback-priced. metals cheaper to holders of other currencies, but the cost. gains were silenced amidst worries that physical metals need would. be harmed by U.S. President-elect Donald Trump's tariff policies.
A Reuters survey of financial experts revealed the United States could. enforce almost 40% tariffs on imports from China early next year,. possibly slicing development worldwide's second-biggest economy. by approximately 1 percentage point.
As markets await news from the Trump administration. regarding potential tariffs on China next year, liquidity will. likely stay subdued into the year-end, stated Sucden Financial. analyst Daria Efanova in a note.
LME nickel increased 0.7% to $16,010 a load, zinc. edged up 0.2% at $2,992, tin was up 0.6% at. $ 29,185 while aluminium reduced 0.3% to $2,637.50 and lead. declined 0.1% to $2,019.
SHFE nickel climbed up 1% to 127,300 yuan a heap, zinc. increased 1% to 25,190 yuan, lead edged up 0.1% at. 16,875 yuan, tin increased 0.2% to 242,990 yuan while. aluminium alleviated 0.3% to 20,635 yuan.
The international lead market deficit increased to 32,400 metric tons in. September from 16,200 heaps in August, and the zinc market. deficit edged down to 79,500 metric heaps in September from. 85,000 tons in August, International Lead and Zinc Study Hall. data showed.
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(source: Reuters)