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Consultancy says that rising Ukrainian diesel imports will prevent a shortage in April.
Analysts do not expect a fuel shortage in Ukraine next month. After Russian missile strikes virtually destroyed Ukraine's refining capability, the country became almost completely dependent on fuel imported from Europe, particularly western, central, and southern Europe. Enkorr fuel consultancy in Kyiv said that the average daily diesel deliveries over a 'four-day period from 23 March 'to 26 March 'were 21,400 metric tonnes, up from 19,400 tons during the same time last week. The consultancy stated that if the current pace is maintained, imports in March could reach 565,000 tons. This would be 9% more than the 522,000 ton estimate and a 7% increase over the same period of last year. It added that there is no risk of shortage. This was confirmed by traders. Last week, the Ukrainian energy ministry said that the diesel market had been fully supplied in March. About 70% of April's supply was also secured. Enkorr reported this month that traders estimated the wholesale diesel price increase 'because of the Middle East war' at almost 50% in less than one month. (Reporting and editing by David Goodman.)
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Gold prices rise on the back of a weaker dollar but Fed rate cuts dimming hopes limit growth
Gold prices rose on Monday, as the dollar softened. However, gains were limited by a surge in energy costs that fueled inflation fears and dimmed expectations of interest rate reductions from the U.S. Federal Reserve this year. Gold spot rose 0.8%, to $4,528.74 an ounce at 0627 GMT. It had fallen about 1% in the previous session. U.S. Gold Futures for April Delivery gained 0.7%, to $4,556.70. Dollar-denominated goods are now more affordable to holders of other currencies. Gold's price movement last week, when it broke a three-week losing run, suggested that oversold behavior was at play and a possible reversal in recent declines. This must be confirmed this week by the price. It's easy to anticipate volatility, given the rapid flow headlines," said?Nicholas Frappell. Global head of institutional market at ABC Refinery. Brent crude soared to $115 per barrel after the Yemeni Houthis launched an attack?on Israel at the weekend. This widened the war and exacerbated inflation problems. The contract has risen 60% in March so far, which is a record monthly increase. The traders see little likelihood of a rate cut in the United States this year as higher energy costs threaten to fuel broader inflation, and limit scope for monetary ease. This compares to?expectations of two rate cuts prior to the start of the conflict. Gold's appeal is boosted by inflation, but high interest rates reduce its demand. Markets are now awaiting Federal Reserve Chair Jerome Powell’s remarks at an event held by Harvard later that day, as well as John Williams, the New York Fed president. The U.S. Dollar, which has gained more than 2% in the past two months since the U.S. and Israeli war against Iran began on the 28th of February, has been a major factor. Bullion has risen about 5% this quarter. The biggest macro-picture?behind this underperformance is the massive shift in interest rate expectations... Frappell said that the USD has reacted to this. Spot silver increased 1.5% to $70.61 an ounce. Spot palladium increased 3% and platinum rose 3.4%. (Reporting and editing by Sumana Nandy, Harikrishnan Nair, and Noel John from Bengaluru)
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Indonesian prosecutors raid the companies of a coal tycoon suspected of illegal mining operations
The Attorney General Office of Indonesia announced on Monday that it had raided several companies associated with the coal tycoon Samin Tan, after he was identified over the weekend as being a suspect for alleged illegal mining activities. Samin Tan was once a powerful dealmaker, known for his $1 Billion investment in Bumi Plc. This helped save Indonesia's Bakrie family of power from an imminent default. The AGO stated that the coal company of Tan, PT Asmin Koalindo Tuhup was terminated 'in 2017 but the company allegedly continues mining operations until 2025. This case is part of Jakarta's ongoing crackdown on illegal mining, after President Prabowo vowed to eradicate bad practices when it comes to the exploitation and exploitation Indonesia's natural resources. Anang Supriatna, AGO spokesperson, told reporters that prosecutors have raided a number assets connected to AKT, Samin Tan and questioned over 20 witnesses. He said that the raids and seizures were to search for assets suspected of having a'relationship with, or being the proceeds of crime. A government taskforce has already seized nearly 1,700 hectares (4.200.79 acres), of the AKT Mine in Central Kalimantan. The AGO ?is currently calculating the losses to the state caused by the alleged crime, Anang ?said, and a government task force has imposed ?a 4.2 trillion rupiah ($247.20 million)administration fine on the company. Tan was named as a suspect by Indonesia's Corruption Eradication Commission in 2019 in a case of bribery, but he has been legally cleared. Tan's lawyers could not be reached immediately for comment. (1 dollar = 16,990 rupiah). (Reporting and writing by Bernadette Munthe, Fransiska Naangoy, David Stanway, editing)
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Coal India's Central Mine Planning unit valued at $1.3 Billion in a muted debut
Central Mine Planning & Design Institute (CMPDI), a unit of the state-run Coal India made a tepid?debut? on Monday. The company was weighed down by broader market weakness linked to the'month-long Middle East Conflict 'and concerns about the company’s reliance on its parent. The National Stock Exchange of India listed shares of Central Mine Planning (which provides consultancy and support for coal and mineral exploration) at 160 rupees, below the 172 rupees that they were originally issued at. At 10:21 am IST the shares were 165.5 rupees, which valued the company at 117.67 million rupees. India's Nifty 50 index was down by 1.2%. Central Mine Planning's $199 million IPO comes as investors pull money?out from risk assets around the world, due to the U.S./Israel war against Iran driving crude oil prices up and raising inflation and growth concerns. We had a neutral opinion on the IPO, given that the?company is highly dependent on Coal - India for its revenue. Anita Gandhi of Arihant Capital Markets, who is the head of institutional business, said that the weak listing could also be attributed the volatile markets where the Middle East conflict dominates the conversation. Central Mine Planning receives about 90% of its revenues from Coal India, which is the largest coal miner in the world. The Middle East War has weighed heavily on the already weak IPO Market in India. Only four?of 14 companies listed at a higher price than their initial issue price this year. Institutional investors dominated the Central Mine Planning IPO last week, while retail investors and non-institutional buyers, as well as Coal 'India's shareholders, bid for less that half of shares set aside for them. This is in contrast with the successful listing earlier this year of Bharat Coking Coal - another subsidiary?of Coal India. Central?Mine?Planning reported a profit of 4.25 billion rupees during the nine-month period ending December 2025. This is an increase of approximately 9% over the previous period. $1 = 93.9445 Indian rupees (Reporting and editing by Vivek M; Sherry Jacob Phillips, Mrigank Dhaniwala and Sumana Nandy)
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Gold prices steady as dollar softens and offsets Fed rate-cut expectations
Gold prices remained'steady' on Monday, despite a volatile session. A softer dollar met a surge in energy prices which fueled inflation fears and further dampened expectations of interest rate reductions by the U.S. Federal Reserve this year. As of 0431 GMT, spot gold was down 0.1% at $4,488.46 an ounce after swinging between a fall of more than 1% and a marginal increase earlier. U.S. Gold Futures for April Delivery lost?0.1% at $4,518.30. Dollar-denominated goods became more affordable to holders of other currencies as the U.S. currency eased. Gold's price movement?last weekend (when it ended a three-week loss streak) indicated a reaction to an oversold situation and a potential reversal in recent declines. This must be confirmed this week by the price action. Nicholas Frappell is the global head of institutional market at ABC Refinery. He said that given the rapid pace of headlines, it is easy to "expect" volatility. Brent crude rose above $115 per barrel following the weekend attacks by the?Yemeni Houthis on Israel, which widened the war and added to inflation problems. The contract has risen 60% in March so far, which is a record monthly increase. Donald Trump, the U.S. president, said that Iran and the U.S. have met "directly and indirect" and that Iran’s new leaders are "very reasonable", while more U.S. soldiers arrived in?the region. The traders see little likelihood of a rate cut in the United States this year as higher energy costs threaten to "feed into broader price inflation" and limit monetary easing. This compares to 'expectations of two rate -cuts prior to the start of the conflict. Gold's appeal is boosted by inflation, but high interest rates reduce its demand. The U.S. Dollar, which is up more than 2% in the last two months since the U.S. and Israeli war against Iran began on February 28, has been a major factor. The biggest macro-picture that explains this underperformance is a huge shift in expectations about interest rates. Frappell said that the USD has caught on to this. Spot silver increased 0.5%, to $69.91 an ounce. Palladium and platinum spot prices rose by 2.9% each to $1.416.60. (Reporting and editing by Sumana Nandy, Harikrishnan Nair and Noel John from Bengaluru)
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It's a sad day for Europe as the price of oil rises.
Wayne Cole gives us a look at what the future holds for European and global markets. Brent crude oil has been trading at $115 since the beginning of the year. It's up 59% this month, making it the largest ever. It's even bigger than when Iraq invaded Kuwait in 1990. It's not a good headline. Pakistan is trying to host a peace conference, but the U.S. or Iran are reluctant to RSVP. The attacks have spread southwards as Yemen's Houthis attacked Israel. This was a worrying event, as the Houthis may try to limit shipping through Bab el-Mandeb on the Red Sea. The Bab el-Mandeb is another major chokepoint in the Middle East oil trade along with the Strait of Hormuz. In regards to the Strait President Trump said in the Financial Times, Iran agreed as a concession?to allow another 20 "big boat" presumably tankers through. This would seem to be an implicit recognition that Iran controls the Strait. Trump has also stated that he would like to "take oil from Iran" and could use U.S. Forces to seize Kharg Island, the main Iranian oil export terminal, in the Persian Gulf. He said that the talks were going well, both directly and indirectly, and they could reach a settlement soon or not. Meanwhile, U.S. troops continue to build up in the region. According to various reports, there are more than 50,000 soldiers, including special forces, present. This suggests that the conflict may continue for some time, and that the risk is to escalate, which would cause more damage to the supply chain, and prolong the time it takes to get back to normal, if the Strait ever reopens. Brent futures have risen above $100 until July and December has risen to $85 per barrel. This is bad news for the inflation rate and it will be evident in the March German preliminary CPI, due later on Monday, as well as EU CPI Tuesday. Markets indicate that there is a 58% probability of an April rate hike. The hawks are already clamoring for a rate increase at the ECB. Futures markets have given up on the Fed easing in this year. Fed Chair Powell could have something to say about it at a Harvard conference later today. Kevin Warsh, Powell's proposed replacement, will be thinking about it as well. The Senate Banking Committee plans to hold an hearing on Warsh nomination by the end of the week. Markets could be affected by the following key developments on Monday German preliminary CPI for the month of March EU Economic Confidence for March - Dallas Fed March survey Federal Reserve Board Chairman Jerome Powell takes part in a moderated conversation. Fed Bank of New York president John Williams in conversation - The G7 Finance and Energy Ministers as well as Central Bankers will virtually meet
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France or Benelux. ECB/VILLEROY : According to the Italian newspaper La Stampa, France's central bank chief Francoisvilleroy de Galhau, the?European Central Bank aims to stop any inflation caused by energy. However, it is still too early to talk about dates for interest rate increases. France/Israel: According to a German Foreign Office statement, the foreign ministers from Germany, France, Italy, and Britain have urged Israeli lawmakers to drop a bill that would allow the death penalty to be imposed in Israel. HAL TRUST HAL Trust, a Dutch investment company, reported a net profit of 1.597 billion euro for the full year 2025 and proposed a dividend of 3,50 euros per share. JENSEN-GROUP: The Belgian industrial laundries equipment manufacturer Jensen-Group has announced a restructuring. TOTALENERGIES SEC: French energy company TotalEnergies has signed a Nuclear Production Allocation (CAPN) contract with EDF, for a period of 12 years starting on January 1, 2028. Pan-European market data: European Equities speed ?guide................... FTSE Eurotop ?300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop ?300 sectors..................... Top 25 European pct gainers....................... Top ?25 European pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. ?Tokyo report............ FTSE 100 ............... London - Report ........... Xetra DAX............. Frankfurt ?items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report..... (Gdansk Newsroom)
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Brent crude set to record a record month
Investors piled into a long-running Gulf conflict, which has already seen oil prices rise to a record level. This will lead to a surge in inflation and a risk of recession for much of the world. Pakistan said it was preparing "meaningful discussions" to end the conflict over Iran within the next few days. This is despite the fact that Tehran has accused Washington of preparing a land attack as the U.S. Military builds up its forces in the area. Financial Times, late Sunday, quoted Donald Trump as saying that the U.S. might seize Kharg Island, where Iran exports most of its oil from the Persian Gulf. But also, a ceasefire may come soon. Yemen's Houthis, who are also Iran-aligned, launched their first attack on Israel since the beginning of the conflict. "Iran has little incentive to give up its control of the Strait of Hormuz and the ability to disrupt the global energy and food market, as well as the capability to maintain missile and drone capabilities, which is why the U.S. escalates," said Madison Cartwright?, senior geo-economics analysts at Commonwealth Bank of Australia. We expect the conflict to last at least until June. The risk is that it could extend into a longer war. Prices for plastic, aluminium, fertilizer, oil, gas and plastic have all risen due to the clampdown in the Strait, as well as fuel for planes, ships and other transportation. All prices for food, pharmaceuticals, and petrochemicals are set to increase. This is bad news for Asia as much of that region depends on Middle East energy. Japan's Nikkei lost another 3.4%, taking the total losses in March to almost 13%. South Korea's stock market fell 3.0% Monday, while Chinese blue-chips lost 0.2%. MSCI's broadest Asia-Pacific share index outside Japan fell?1.3%. S&P 500 and Nasdaq Futures have pared some of their losses, making it a little easier. EUROSTOXX Futures and DAX Futures both dropped 0.7% in Europe while FTSE Futures? dropped 0.4%. Brent crude rose by 2.0% to $114.90 per barrel. This brings its gains for the month up to 59%, and surpasses the surge that followed Iraq's attack on Kuwait in 1990. U.S. crude rose 1.8% to $101,39, a 51% increase in a month. Bruce Kasman warned that the longer the Strait remains shut, the more the buffer supply will be reduced, which could lead to dramatic increases in crude oil, gas, and other commodities. The scenario of the Strait remaining closed for another month is consistent with rising oil prices towards $150/bbl, and constraints on energy consumption by industrial consumers. As payrolls loom, the FED is in focus. Investors have revised up their expectations for interest rates almost everywhere due to the inflationary threat. The Federal Reserve is expected to tighten interest rates by 12 basis points this year. This compares with 50 basis point cuts just a month earlier. John Williams, the influential chief of the New York Fed and Fed chair, will also be speaking at an event on Monday. This week, data on U.S. manufacturing, retail sales and payrolls will give an update on the state of the economy. After February's shocking 92,000-job drop, jobs are expected to rise by 55,000 in the month of March. Unemployment remains at 4.4%. The European Union is expected to release figures on Tuesday showing that annual inflation jumped to 2.7% from 1.9% in March, but core prices are expected to be stable. Energy shocks, coupled with increased borrowing costs, and a need to increase defence spending have slammed sovereign bond markets. Ten-year U.S. Treasury yields have increased by 44 basis points this month, to 4.407%. Two-year yields also rose 50 basis points. The U.S. Dollar is the most liquid currency in the world. The?U.S. The?U.S. The dollar dropped 0.3% to 159.74 Japanese yen, despite warnings from the Japanese authorities. The dollar has dropped 0.3% to 159.74 yen after warnings of possible intervention from the Japanese authorities. The euro was at $1.1513. This is not too far from the March low of $1.1409. Gold was flat on commodity markets at $4,493 per ounce, despite the fact that it has received little support from investors as a safe-haven or a hedge against inflation. (Reporting and editing by Edmund Klamann; Muralikumar Aantharaman, Thomas Derpinghaus and Wayne Cole)
Rio Tinto has resumed operations at three Pilbara ports terminals following cyclone Narelle
Rio Tinto announced on Monday that operations had'resumed' at three of the four terminals in its 'Pilbara Iron Ore - Ports after Tropical Cyclone Narelle hit Western Australia. The storm disrupted shipments, but left its annual guidance unchanged.
The miner was forced to?close two bauxite mining operations temporarily after Cyclone Narelle caused heavy rains and power outages on Australia's northeast coast earlier this month. South32 has also suspended operations at the?Gemco Manganese Mine, which is co-owned with Anglo American.
Narelle slammed into Australia's northwest coastline?last weekend, forcing port closures in the iron-rich region of?Pilbara.
Rio, the world's largest producer of iron ore, announced that ship loading at its three terminals was resumed on 28 March following port closures from 24 March.
The miner stated that shipping at Cape Lambert A will resume "in the next few days".
Rio?said that two tropical cyclones between?February?and March?have impacted iron ore shipments by the firm's eight million metric tonnage. It added that "it has identified a?pathway to recover about half of these losses."
Rio's guidance on its Pilbara iron ore shipment for 2026 remains unchanged, at 323 to 338 millions tons.
(source: Reuters)