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US agencies monitor drinking water for microplastics and pharmaceuticals
On Thursday, the U.S. Environmental Protection Agency (EPA) and the Department of Health and Human Services (HHS) announced that they would monitor the impact of microplastics and pharmaceuticals on water. This is the first step in assessing the health risks associated with these substances and forming new policies. The announcement was hailed as a victory for President Donald Trump’s "Make America Health Again" agenda by EPA Administrator Lee Zeldin, and Health Secretary Robert F. Kennedy, Jr., whose priorities included reducing childhood vaccinations and promoting healthy foods in the new dietary guidelines. The EPA has now included microplastics, pharmaceuticals, and other contaminants on its sixth Contaminant Candidates List. This means that they will be tested and monitored in accordance with the 'Safe Drinking Water Act, and they will receive funding for their research. "We cannot treat what we can't measure." Kennedy told a press event at the EPA's headquarters that we cannot regulate something we do not understand. Zeldin, the EPA, and MAHA activists have been criticized for not addressing their concerns. This includes microplastics and failing to apply more stringent pesticide rules. "For too long, Americans were ignored as they raised the alarm regarding plastics in drinking water. Zeldin stated at the press event that this will no longer be an issue. Supporters of RFK Jr. and MAHA helped elect Donald Trump as President in 2024. MOVE FOLLOWS PERIOD OF PETITION Seven U.S. Governors, including those from New Jersey and Michigan, as well as more than 175 environmental and public health groups filed a petition late last year asking the EPA to include microplastics on its list of contaminants that should be monitored. The list is updated five times a year. Microplastics, or microscopic plastic pieces, have been found everywhere. From inside the human body to drinking water and even in the depths of oceans. Several studies have linked microplastics to cancer or reproductive harm. Plastic industry groups dismissed these'studies' and claimed that the science is still not settled regarding the harms caused to microplastics. Judith Enck of Beyond Plastics, a former regional administrator at the EPA, called this "an important step." Kimberly 'Wise White', vice president for regulatory and scientific affairs of the American Chemistry Council (which represents?plastic manufacturers), said that the group supports scientifically-driven monitoring of water drinking for microplastics. Kennedy pledged that he would tackle plastic pollution, including its manufacture, when he ran for the Democratic nomination in 2024. Later, Kennedy endorsed Republican candidate Trump, whose government warned last year that countries should oppose any attempts to cap plastic production as part of a potential UN agreement to limit plastic pollution. Human waste and improper disposal of pharmaceuticals can cause them to enter the water system. The EPA also plans to release benchmarks on human health for 374 pharmaceuticals that will be monitored. Reporting by Valerie Volcovici, Washington; Additional reporting and editing by Leah Douglas
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Oil prices rise as stocks fall on Iran War Worries
Oil prices surged Thursday, and equity markets around the world fell after U.S. president Donald Trump's remarks dashed expectations of a "quick resolution" to the Iran War. Still, European'shares' trimmed their losses and U.S. bonds clawed back any gains on rekindled hopes of a reopening of Strait of Hormuz. Iran's foreign ministry announced that it was working on a protocol to monitor the traffic through the Strait of Hormuz, which is used by a fifth or global oil and LNG. Brent crude jumped more than 7% per barrel after Trump stated in a prime time address on Wednesday, that the United States will hit Iran "extremely" in the next few weeks and "bring [them] back to the Stone Ages." Stocks on Wall Street were lower at the end of the trading week due to the Good Friday holiday. Gold prices dropped as the U.S. Dollar gained. The yields on government bonds jumped as central banks raised interest rates or held them at the same level in anticipation of a spike in inflation. The dollar index (which measures the greenback versus a basket of currencies, including the yen, the euro and others) rose by 0.48%. Felix-Antoine VezinaPoirier, BCA Research, said: "During the past 48-hours, Tehran and Washington exchanged a cacophony, with some statements suggesting a rising likelihood of de-escalation." GeoMacro strategists provide a simple guideline for weighing headlines that are volatile: stick to the facts. Shipping through Hormuz increased over the past few days. Second, Iran has deliberately shifted its focus "away from GCC targets (Gulf Cooperation Council), toward Israeli ones." WALL STREET POINTS WERE LOWER The MSCI index of global stocks fell by 0.59%, to 990.80. Wall Street saw the Dow Jones Industrial Average fall 0.39% to 46383.81, S&P 500 decline 0.23% at 6,560.04 while the Nasdaq Composite fell 0.28% at 21,780.3. In an address that was closely watched on Wednesday, Trump stated that U.S. attack on Iran will be intensified in the next two-three weeks. This came just one day after Trump said the United States was "out of Iran fairly quickly." Both the pan-European STOXX 600?and Europe’s broad FTSEurofirst 300 indices lost 0.2%. The Kospi Index in South Korea fell 4.7%. Prashant Nnewnaha, senior rate strategist at TD Securities said: "The only thing really important is whether or not the Strait of Hormuz opens soon." Trump said earlier on Wednesday that the United States does not need the main oil gateway. Spot gold fell 2.15%, to $4,654.89 per ounce, and U.S. futures gold settled down at $4,679.70, a 2.8% decline. India's central bank banned the trading of non-deliverable futures to stop rupees from falling to record lows. The currency rose 2% after the move, but analysts were unsure how long this rebound would last. Brent futures rose 7.59% to $100.84 per barrel while U.S. West Texas Intermediate closed up 11.41% at $111.54. Jon Withaar, Pictet Asset Management, said that the fact that "boots on the ground" were not ruled-out (during Trump’s TV address), and that the threats to strike infrastructure were reiterated will put the markets back on "the defensive." The yield on benchmark U.S. 10 year notes dropped 1.4 basis points, to 4.307%. The yield on the two-year notes, which moves typically in line with expectations of interest rates for the Federal Reserve fell 0.9 basis point to 3.794%. The yields on the benchmark Bunds in the euro zone ended a three-day slide and traders increased their bets that interest rates will rise. The yield of the benchmark German 10-year increased by 0.7 basis points, to 3.002%.
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Braskem's profits boosted by high petrochemical costs, but a debt problem still looms
Braskem, a Brazilian company, is racing against time to pay looming interest on its debt. A person with knowledge of the company said that the petrochemical manufacturer, which has operations in Brazil and the U.S. as well as Mexico, is considering whether or not to file for an injunction in order to avoid a painful restructuring. The stronger market outlook does not provide enough relief in the short term. Valor, a Brazilian newspaper, was the first to report Braskem's intention to file a petition for protection against its creditors. The company refused to comment. Citibank analysts raised Braskem’s target price this week from 8 to 10 Reais per share citing higher?petrochemical prices due to supply disruptions caused by the Middle East war. Braskem's international bonds are due to be paid $100 million by the middle this year. Braskem will end 2025 with a $9.4 billion debt and only $2.1 billion cash. Braskem is also facing delays in a planned management change. Novonor, a Brazilian conglomerate, agreed to sell Braskem's controlling stake to IG4 Capital in December. Private?equity firms would be able to share control of Braskem with Petrobras (the second largest shareholder). Sources say that the handover, which was originally expected to take place in early 2026 has now been delayed to May. This leaves some of the debt negotiations in the air. IG4 declined comment. Braskem's share price has risen by 15% this year, to 9 reais. Analysts at Citi said Braskem’s improved operational outlook may reduce the need for immediate capital adjustments. This could include a restructuring plan that involves a capital injection, or a possible reduction of its debt via a renegotiation. Reporting by Luciana Magnhaes, Editing by Paul Simao
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Sources say that SpaceX has been in talks with a Saudi fund about a possible investment of $5 billion for an IPO.
According to two sources familiar with the situation, Elon Musk's SpaceX had talks with Saudi Arabia's Public Investment Fund (PIF) about PIF possibly taking an anchor stake in the space company IPO of $5 billion. Sources said that the investment would prevent some dilution in?PIF’s existing stake, which is just under 1% of SpaceX. Three other sources confirmed that the rocket maker had?been lining-up anchor investors long before its stock market debut. The company plans to raise $75 billion in a record IPO, dwarfing previous mega-IPOs like Saudi Aramco and Alibaba. SpaceX wants to gauge investor interest in a deal of this scale. The sources, who requested anonymity due to the confidential nature of the discussions, said that SpaceX was trying measure investor interest. The sources warned that no final decision had been made and that any investment could change. SpaceX has not responded to a comment request. PIF declined comment. Anchor investors are institutional buyers that typically commit to a stake in advance of a roadshow IPO. They do this as a way to show confidence and support the demand for an offering. SpaceX is courting anchor investors with big budgets, but a large portion of the allocation will go to wealthy investors who are served by underwriting banks. Reported?previously. PIF reaffirmed its ties to Musk's empire in November 2025 when its AI firm HUMAIN announced a collaboration with xAI, involving the deployment of 500 megawatts data center capacity - in Saudi Arabia. PIF invested $3 billion through HUMAIN in March 2025, just before xAI merged with social media platform X. SpaceX based in 'Starbase, Texas' recently filed confidential IPO paperwork at the SEC and plans to launch its market later this year.
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US agencies monitor drinking water for microplastics and pharmaceuticals
The U.S. Environmental Protection Agency and Department of Health and Human Services announced on Thursday that they would monitor the 'impact of microplastics and pharmaceutics on 'drinking -water. This is the first step towards assessing the health risks and forming new policies. The announcement by EPA Administrator Lee Zeldin, and Health Secretary Robert F. Kennedy, Jr. was hailed as a victory for President Donald Trump’s "Make America healthy Again" agenda, whose goals have included reducing childhood vaccines recommended and promoting whole -foods in the new dietary guidelines. The EPA has now included microplastics, pharmaceuticals, and other contaminants on its sixth Contaminant 'Candidate List. This would imply that they would be tested and monitored in accordance with the Safe Drinking Water Act, and would receive funding for their research. Zeldin, the EPA, and MAHA activists have been criticized for 'failing to address their concerns including microplastics and not applying stricter rules?on Pesticides. Supporters of RFK Jr. and his "MAHA" program helped elect Donald Trump as president in 2024. Seven U.S. Governors, including those from New Jersey and Michigan, as well as more than 175 environmental and healthcare groups filed a petition late last year asking the EPA for microplastics to be added to the list to monitor. The list is updated five times a year. Microplastics, or microscopic plastic pieces, have been found everywhere. From inside the human body to drinking water and even in the Arctic ice and ocean depths. Some studies have connected them to cancers or reproductive harm. Kennedy had promised to?address plastic pollution, including its manufacture, when he ran for the Democratic nomination in 2024. Later, Kennedy endorsed Republican nominee Trump, whose government warned last year that countries should oppose any attempts to cap plastic production under a possible UN treaty to reduce plastic pollution. The introduction of pharmaceuticals into water systems is due to improper disposal, human waste and other sources. "By placing pharmaceuticals and microplastics on the Contaminant Candidates List for the very first time, EPA 'is sending a message that we will 'follow the science and we will seek answers. We will also hold ourselves to the strictest standards in order to protect the health and safety of all American families," Zeldin made a statement. The agency will release benchmarks on human health for 374 pharmaceuticals that are to be monitored. (Reporting and editing by David Gregorio; Valerie Volcovici)
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Sources say that SpaceX has been in talks with a Saudi fund about a possible investment of $5 billion for an IPO.
According to two sources familiar with the situation, Elon Musk's SpaceX had held discussions with Saudi Arabia Public Investment Fund (PIF) about the possibility of PIF taking an anchor stake in the IPO of the space company worth around $5 billion. Sources said that the investment would prevent PIF from losing its existing stake in SpaceX of less than 1%. Three other sources confirmed that the rocket maker had been in contact with anchor investors well before its debut on the stock exchange. The company hopes to raise $75 billion in a record-breaking IPO, dwarfing previous mega-IPOs like 'Saudi Aramco 2019 - and Alibaba 2014- Sources who requested anonymity due to the confidential nature of the discussions said that SpaceX was trying gauge investor interest in a deal this large. The sources cautioned that no final decision had been made and that any investment could change. SpaceX has not responded to a comment request. PIF declined comment. Anchor investors are institutional investors who 'typically commit to a stake before an IPO -roadshow. This signals confidence and helps underpin the demand for the offering. SpaceX is courting big-ticket anchors, but a large portion of the allocation will go to wealthy investors served by underwriting banks. The Starbase, Texas-based company has recently filed confidential IPO paperwork at the?SEC and plans to launch its?market later this year. (Reporting from Akash Sriram and Echo Wang, both in Bengaluru; additional reporting by Milana vinn and Anirban sen; editing by David Gregorio).
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Logan, Fed's Logan, says that US oil producers are unlikely to offer immediate relief to consumers
Lorie Logan, Dallas Federal Reserve president, said that U.S. producers will not be able to increase output soon and protect consumers from higher gas prices. Logan, speaking at a regional Fed bank conference, said that the price U.S. oil producers need to see to begin drilling is just under $70 per barrel. This is well below the current price of $110 per barrel. Logan said that the price of oil must be maintained at or above the break-even point for firms to invest in the needed equipment that will eventually benefit consumers. She said that U.S. oil companies "need to know that these higher prices will be around for some time, so I don't hear that we are going to see an increase in production in the near future." Logan's remarks suggest that the rise in energy prices?related to the U.S. - Israel war with Iran?will remain a problem near-term for inflation and economic activity, despite the fact that she said that the U.S. had buffers other nations closer to conflict don't. The Dallas Fed chief said that inflation is still one of her main concerns. She said that even before the Middle East conflict, she wasn't sure we would reach our 2% inflation target. "It is incredibly important that we restore price stability and get inflation back down to 2%, because stable inflation is the foundation of a strong economy." Logan echoed the views of many of her colleagues on monetary policy, saying that current uncertainty meant the Fed would have to watch and wait as it gathered information about the economy. Logan stated, "I like to think about things in scenarios at the moment." I think policy is well positioned to adapt to data as it comes in and we are prepared to make changes to the policy as necessary. The Fed is currently facing a significant challenge with the rising energy prices. Last year, the U.S. Federal Reserve lowered its interest rates by three-quarters of one percentage point to support a softening labor market in spite of high price pressures. The war increases the likelihood that inflation will increase, and creates new problems for the job market as well as the overall economic growth. The Fed is forced to make difficult decisions, as Congress has mandated that it must contain inflation while promoting maximum sustainable job creation. Energy price increases are usually ignored by the central bank, since they only have a temporary impact on overall prices and only have a limited effect on underlying prices. St. Louis Fed president Alberto 'Musalem said on Wednesday that the long period of inflation above target creates an increased risk that energy inflation will become a more persistent economic problem. Capital 'Economics stated in a report that the "indirect" impact of higher energy costs on inflation could range between seven-tenths and nearly 1.5 percentage points in the Eurozone, while the UK and Japan are somewhere in between. Personal Consumption Expenditures Prices Index, Fed's preferred measure of inflation, rose by 2.8% in January. This figure is even higher when food and energy prices are removed. Markets have speculated that higher interest rates may be necessary to combat rising inflation. At a meeting last month, the Fed kept its overnight benchmark rate between 3.50% and 3.75%. It also released projections that showed policymakers expect one rate cut in 2026. Logan said that the war "has increased our level of insecurity about the economy?and the outlook. It's made our job more complex because it increases risks on both sides our mandate." She said that if the war is quickly resolved, then its economic impact would be "moderate". Logan said that a longer war would have "adverse impacts" and "could move in opposite directions regarding our dual mandate. This could cause tension between our responsibilities." (Reporting and editing by Paul Simao; Michael S. Derby)
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Law firm claims that Venezuelan oil tycoon Ruperti has been released from custody.
A law firm representing Venezuelan oil businessman Wilmer?Ruperti said that the country's intelligence police had released him from a detention, after a video was posted on social media of him at his home. Ruperti attended a meeting on March 19, which was organized by the authorities. Ruperti's security detail was arrested and released soon after. Winston & Strawn, a law firm, said in an email that "he was released from the Sebin police detention but we have no explanation or charges from the Government stating the reason for his detention." "We find his detention to be inappropriate and are concerned about his safety and health." The Venezuelan information ministry didn't immediately respond to a comment request. Maroil Trading was a Ruperti-owned company that had been a key exporter of Venezuelan petroleum?coke, under a deal with the state-owned energy?company PDVSA. However, this later became entangled in a dispute regarding payments and contract terms. PDVSA suspended deliveries to Maroil in 2023 after an audit was conducted on receivables. Reporting by Mayela Aras, DeisyBuitrago and MariannaParraga; editing by Mark Porter
Gold drops on stronger dollar and rising expectations of rate hikes
Gold prices dropped on Thursday, as the U.S. Dollar?and oil price?strongened?after Donald Trump stated that the?U.S. Gold prices fell on Thursday as the U.S. dollar?and oil prices strengthened?after President Donald Trump said that the?U.S.
As of 1:30 pm EDT (1730 GMT), spot gold was down by 2.2%, at $4.651.35, after reaching a session high. U.S. Gold Futures ended the session 2.8% lower, at $4679.70.
The dollar rose sharply, increasing the price of greenback bullion for holders of other currencies.
David Meger is director of metals at High Ridge Futures. He said, "The market has been very focused on Trump's remarks, which have so far shown little indication of a rapid resolution to the current energy situation."
He added that this is why gold and silver are falling, because there's less chance of rate cuts.
Trump claimed in a televised speech that the U.S. Military?had almost achieved its goals in Iran. He did not provide a timeline for the end of the month-long conflict and promised to bomb Iran back into the "Stone Ages".
Following Trump's comments, oil prices rose. Energy prices rise, which leads to higher inflation and a reduction in the ability of central banks to reduce rates.
Gold is not a good investment when interest rates are high. Since the Middle East conflict began on February 28, spot gold has dropped 12%.
The news that the Turkish central bank’s gold reserves fell by 69.1 tons to 702.5 tonnes last week shook the mood. This brings the total fall of the two previous?weeks up to more than 120 tons, as authorities try to'mitigate the market impact from the war.
Gold prices in India rose for the first time since two months as lower prices increased?demand. Premiums in China also fell as buyers waited for a more significant correction.
(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Jan Harvey, Shakesh Kuber and Dita Pujara) (Reporting and editing by Jan Harvey, Shaleesh Kuber, Diti Pujara and Ashitha Shivaprasad from Bengaluru)
(source: Reuters)