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The differential for benchmark Platts cash Dubai surpassed a $10/b premium for the first time since 2022, data from Platts, part of S&P Global Energy, showed March 4, amid the ongoing fallout from the conflict in the Middle East. The marker was assessed at a

Prices for some of the world’s most vital commodities leapt in the week starting Feb. 23, on fears about supply disruptions as a result of the conflict in the Middle East. Assessments published by Platts, part of S&P Global Energy, show that the largest price

Floating storage of crude and condensate in Southeast Asian waters has fallen sharply from the end-2025 record, led by a draw-down of Iranian barrels, according to S&P Global Commodities at Sea data. As of end-February, volumes held on tankers stationary for more than seven days

The European ethylene glycol market has seen prices surge due to potential supply disruptions and higher feedstock and energy prices stemming from the Middle East war. The market has kept a close eye on supply disruptions from Saudi Arabia over the past week. The EU

Rice markets across Asia are facing mounting cost pressures as rising local fuel prices and shortages — triggered by the ongoing Middle East conflict — drive up expenses, multiple Asia-based market sources told Platts, part of S&P Global Energy, on March 12. While weak international

The surge in oil prices triggered by the Middle East war is rippling through global mining operations, raising costs for fuel-dependent producers and threatening to drive more punishing inflation in the long term. Platts-assessed Dated Brent crude spiked to $102.84/barrel on March 9, the highest

Escalating tensions in the Middle East have caused major shipping disruptions through the Strait of Hormuz, leading to higher bunker fuel prices and longer transit times for exporters reliant on Middle East and Red Sea routes that must divert around the Cape of Good Hope.

The US sold a net 3,200 metric tons of beef, a marketing year low, in the week ended March 12, down 87.4% from the week prior, data from the US Department of Agriculture showed March 19. During the week, Japan, Hong Kong, Taiwan, Canada, and

Global methanol markets have reeled in the wake of the war in Iran, with prices in India reaching an over-four-year high on acute supply concerns, while Southeast Asia prices hit all-time highs. In the Atlantic Basin, European spot prices have risen about 47% since the

This content is part of a series exploring key themes from the World Petrochemical Conference by S&P Global being held in Houston from March 23-27. Global supply shocks caused by the war in Iran have prompted producers and governments to bolster the resilience of their

Venture Global’s latest US LNG deal with Vitol, which Atlantic Basin traders say is priced at 119% of Henry Hub plus $2.80-$3.20/million British thermal unit, is attractive for at least the first years of the five-year term, the traders have told Platts. The LNG deal

Amid heightened geopolitical tensions in the Middle East, disruptions to key trade routes have raised concerns over the stability of food and agricultural supply chains in the Gulf region. With the Strait of Hormuz remaining a potential flashpoint, companies are reassessing logistics and sourcing strategies

Oil product inventories at Fujairah in the UAE fell 5% in the week ended March 30 to 13.321 million barrels, the lowest in six months, according to Fujairah Oil Industry Zone data published April 1. The total has dropped for four consecutive weeks, or 36%

Port premiums for South American soybean meal have been strengthening in recent weeks, contrasting with an expected period of seasonal pressure, as harvest obstacles in Argentina and a round of short covering in Brazil push premiums higher. Platts, part of S&P Global Energy, on April

Rare earth elements have come under increasing focus owing to their criticality to defense equipment manufacturing and clean technology. China has monopolized this supply chain for over two decades and has not shied away from using it for geopolitical leverage, forcing others to think of

This report is part of S&P Global Energy’s Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper, alumina, cobalt, lithium, nickel, and steel and scrap. We also explore what the next few

Brazil’s Petrobras has selected Honeywell UOP’s ethanol-to-jet (ETJ) process technology for a sustainable aviation fuel (SAF) project at its REPLAN refinery in São Paulo state, marking a potential first large-scale deployment of the pathway in Latin America. The project, located in Paulínia, remains subject to

Indonesia will stop importing subsidized low-grade diesel fuel from July 1 as the government enforces its mandatory B50 biodiesel program, Agriculture Minister Andi Amran Sulaiman said April 19. “We will no longer import Solar starting July 1, when B50 takes effect. This is Indonesia’s future

The ongoing war in the Middle East has nearly halted oil shipments from the Persian Gulf, prompting refined product buyers to look elsewhere, and has brought West Coast India into focus, multiple market participants said March 4. Several distillate cargoes were covered overnight for loading

A rise in crude oil prices due to the war in the Middle East has pushed palm oil prices up 3.7% day over day, along with the highest daily traded volume of contracts, exchange data and market analysts said March 6. The rise in crude

Chinese state-run refiners may resume US crude imports after a nine-month suspension amid the supply crisis in the Middle East, despite the additional 20% tariffs remaining in place, crude procurement strategists from two state-run refining groups, four refinery sources, and three analysts told Platts, part

The Middle East war is the latest wake-up call for Europe as it confronts its energy import dependency, and while early signals from policymakers point to doubling down on renewables, inflationary risks from the conflict loom, according to industry experts. France-based Societe Generale’s Head of

Iran’s new supreme leader, Mojtaba Khamenei, has vowed to keep the Strait of Hormuz closed, as the war in the Middle East entered its 13th day with crude prices surging despite upcoming strategic petroleum reserve releases. The comments came as the International Energy Agency declared

The US no longer needs or wants its European allies to send warships to escort commercial tankers through the effectively shuttered Strait of Hormuz, President Donald Trump said March 17 after leaders of North Atlantic Treaty Organization members declined his request. In a statement posted

Indian exports of diesel to Southeast Asia have reached their highest level since May 2025, driven by strong Asian differentials amid the war in the Middle East, tracking data showed March 17. Indian loadings of diesel for Southeast Asia reached 251,000 metric tons in the

S&P Global Energy CERA expects 95.2 million acres to be planted for US corn in 2026, down 3.6 million acres from 2025 acres but an increase of 200,000 acres from January’s projection. The reduction of 4% year over year is expected due to the need

Global oil and gas prices could surge above the multi-year highs seen in 2022 following Russia’s invasion of Ukraine if energy shipments via the Strait of Hormuz do not resume in the coming months, according to the CEO of Total Energies, Patrick Pouyanne. With some

This content is part of a series exploring key themes from the World Petrochemical Conference by S&P Global being held in Houston from March 23-27. Fragmented carbon accounting standards and over-reliance on voluntary markets are stalling decarbonization efforts in the chemicals sector, with regulatory frameworks

This content is part of a series exploring key themes from the World Petrochemical Conference being held in Houston March 23-27. Disruptions to supply chains and trade flows resulting from the war in the Middle East took center stage at the World Petrochemical Conference on

Morocco’s grains trade is grappling with significant logistical challenges, exacerbated by severe weather disruptions in the first quarter of 2026 amid the Middle East conflict that has impacted global shipping routes, market sources told Platts, part of S&P Global Energy. Wheat importers and local millers

Maritime traffic via the Strait of Hormuz has largely halted since the US-Iran war broke out mainly because of vessel operators’ concerns for seafarers’ lives, ship-management company Columbia Group CEO Mark O’Neil said in an interview. The UN’s International Maritime Organization recorded at least one

Malaysia’s palm oil stocks were estimated at 2.173 million metric tons by the end of March, marking a third consecutive month of decline, as rising exports were seen outpacing a moderate increase in production at the world’s second-largest supplier of vegetable oils, a poll of

The US-Iran ceasefire might fail to benefit tanker owners despite rising nominal rates in Middle Eastern trades, according to some analysts, as security and legal risks loom large over transits through the Strait of Hormuz. On April 7, US President Donald Trump said he agreed

XCF Global has signed a binding term sheet with BGN INT US to develop a renewable fuels tolling and distribution partnership, as the companies position to scale sustainable aviation fuel supply amid tightening global energy markets and rising demand. The proposed framework centers on a

CIF Marmara wheat prices have surged to December 2023 highs amid the Middle East war, but traders are now closely monitoring declining freight rates as buyers push for lower prices. Platts, part of S&P Global Energy, assessed CIF Marmara 12.5% protein wheat at $256/metric ton

Chile’s mining industry would not have an easy time replacing sulfuric acid from China should reported export restrictions go ahead in May, analysts told Platts. Chile is among the countries most exposed to changes in Chinese exports, analysts said. If restrictions are long-lived and Chile

Regional demand for Australian wheat stands to benefit from the Middle East conflict as Australia’s proximity to Southeast Asia, coupled with ample exportable supply, presents less risky options for buyers seeking to avoid longer and more expensive voyages or shipments passing through the Middle East,

Trading companies and oil importers have deferred chartering for several tankers in the Persian Gulf and released those previously hired, prompting owners to seek employment elsewhere to maintain cash flow, several Asia-based shipping brokers, owners and charterers told Platts, part of S&P Global Energy, March

Crude oil futures extended gains in midmorning trading in Asia on March 9, driven by mounting supply risks as key producers cut output amid the Middle East conflict. At 11:23 am Singapore time (0323 GMT), the ICE May Brent crude futures contract rose $21.59/b (23.29%)

The Indian government has ordered the redirection of all domestic gas and regasified LNG to key priority sectors, overriding existing gas sales agreements amid supply disruptions from the war in the Middle East. The government identified four priority sectors and set allocation percentages for each,

The US government is weighing a waiver of the Jones Act, a White House spokesperson confirmed on March 12. In a statement provided to Platts, part of S&P Global Energy, White House Press Secretary Karoline Leavitt said the administration had not finalized any decision. “In

European jet fuel outright prices and cash differentials hit yet another all-time high on March 16 as the war in the Middle East escalates and ship traffic through the Strait of Hormuz remains disrupted. The Platts jet CIF NWE cargo flat price rose to an

The disruption to crude oil flows from the Persian Gulf is weighing on tanker freight rates, after an initial spike, as vessels reposition away from the Middle East and threaten to create an oversupply of ships chasing cargoes in the Atlantic Basin. Crude loadings around

China’s hot-rolled coil steel market faces mounting pressure in 2026 as new production capacity outpaces modest demand growth from the manufacturing sector, threatening to keep prices rangebound at multiyear lows and squeezing mill margins to near zero. The capacity expansion comes as Chinese HRC prices

US exporter Venture Global will look to sign more five-year deals to meet surging near-term demand for LNG as the war in the Middle East constrains about 20% of global supply, CEO Mike Sabel said March 23, adding the company’s share of spot volumes stands

The US must expand domestic mining in order to reduce its dependence on China for critical minerals, said Doug Burgum, Secretary of the US Department of the Interior. While it would be hard to decouple the two world’s largest economies, the US can take action

This content is part of a series exploring key themes from the World Petrochemical Conference by S&P Global being held in Houston from March 23-27. If the global recycled polyethylene terephthalate sector faces competitive challenges compared to virgin material, in the US, the lower post-consumer

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The Tokyo Metropolitan Government will expand its subsidy program for regional producers of domestic sustainable aviation fuel to increase the supply and refueling opportunities of domestic SAF at Haneda Airport in Tokyo, the Tokyo government said on its website on April 6. The program financially

A dozen vessels transited the contested Strait of Hormuz April 9, traveling through Iran’s territorial waters, with most of those ships exiting the narrow waterway, according to an April 10 report from S&P Global’s Commodities at Sea. Average daily transits still stand at a fraction

Animal feed prices in Latin America increased during the week to April 10, as supply has tightened in markets like Argentina, while higher fertilizer costs and looming logistical issues have supported dried distillers grains with solubles in the US. Platts, part of S&P Global Energy,

US aerospace company Boeing and Norsk e-Fuel have expanded their partnership to accelerate production of synthetic aviation fuels, with a focus on strengthening Europe’s energy security and reducing reliance on imported fossil fuels. The collaboration builds on Boeing’s 2025 investment in Norsk e-Fuel. It will

Bangkok-based Siam City Cement, or INSEE, is not seeing the kind of cement production restraint used in parts of Europe to protect margins, with regional supply-demand dynamics making such a strategy unworkable in Asia’s large, volume-driven markets, Raju Goyal, the company’s head of group technical

Indian refiners are maintaining their normal throughput levels but have started negotiating for incremental crude oil cargoes from the US, Russia, and West Africa to ensure that supplies remain plentiful in the event the Middle Eastern conflict drags on for a longer period, industry officials

EU pork exports to destinations outside the bloc rose slightly in 2025, with China and the UK the largest buyers, but exporters entered 2026 facing fresh pressure from higher Chinese import tariffs and intensifying competition from Brazil, according to European Commission figures. The EU’s 27

The Indian Department of Fertilizers said March 6 that its fertilizer stocks were “robust, secure and fully equipped to handle” the country’s peak demand season, despite the war in the Middle East. India was the world’s single-largest urea importer in 2025, bringing in 10.2 million

Asian LNG buyers have pulled at least seven Atlantic Basin cargoes away from Europe since the war in the Middle East began on Feb. 28, according to S&P Global Commodities at Sea data, driven by a widening Northeast Asia price premium and improved netbacks for

The European clean refined products markets have continued to see rising impact from the intensifying war in the Middle East, with market participants bracing for unprecedented supply tightness as ship traffic through the Strait of Hormuz remains absent. As the war between the US and

The EU’s cap-and-trade carbon market, which sets a price on greenhouse gas emissions within the bloc, is set to undergo a policy review in the third quarter of this year, which will define the future direction of Europe’s climate framework. Against this backdrop, multiple politicians

The outbreak of conflict in the Middle East on Feb. 28 has rapidly driven up global fertilizer prices, with the region’s role as a major exporter amplifying market volatility. Granular urea prices have surged 38.8% during the critical spring application season — from below $500/mt

Persian Gulf aluminum producers are looking at ways to reroute their export consignments to ports outside the Strait of Hormuz amid ongoing severe disruptions to their usual shipping routes. Two Gulf producers have confirmed to Platts they are exploring bypasses due to the problems passing

TotalEnergies will cancel its US-based offshore wind projects and invest approximately $1 billion in fossil fuel development, as part of a March 23 deal with the US Interior Department. After investing in the fossil fuel infrastructure, including oil, gas and LNG production, the French energy

Copper prices are getting hammered amid growing fears that higher energy prices — driven up by the Iran war — could pummel economic growth and weaken near-term metal demand in a market awash with copper stocks. The London Metal Exchange price of copper slid 9.4%

This content is part of a series exploring key themes from the World Petrochemical Conference by S&P Global being held in Houston from March 23-27. While other regions around the world depend increasingly on polymer imports, such as Europe amid its petrochemical industry rationalization, China’s

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India’s Deendayal Port Authority is positioning Kandla as a competitive bunkering hub by mid-2028, targeting a cost of $700-$750/mt for Renewable Fuel of Non-Biological Origin-compliant eMethanol, significantly below current prices, according to DPA chairman Sushil Kumar Singh. DPA has firmed up plans with Assam Petro-chemicals

Vietnamese fragrant rice prices rose to their highest level in nearly four months as exporters held back offers to prioritize existing contracts and rebuild inventories amid rising production costs, market sources told Platts, part of S&P Global Energy, April 7. Platts assessed Vietnam Fragrant 5%

Panama Canal congestion intensified in early April, with LNG carriers booking up eastbound slots and some vessels facing worst-case waiting times of up to five weeks, according to regional port agents and brokers. Only three LNG carriers have transited the canal so far this month,

Malaysia will raise its biodiesel blend mandate from 10% (B10) to 15% or B15, to safeguard domestic diesel supply and reduce reliance on imported fossil fuels, Economy Minister Akmal Nasrullah Mohd Nasir said April 14. The transition will begin with a rollout of B12 blending

Pakistan may consider spot LNG purchases as the country faces a daily electricity shortfall of about 4,000 megawatts, with around 3,000 MW attributed to the closure of regasified LNG-powered electricity units following a Qatari force majeure, Power Minister Awais Ahmad Khan Leghari said during a

Investment in sustainable aviation fuel in Latin America remains constrained by high costs, limited policy certainty, and a lack of long-term revenue visibility, according to panelists at the ALTA Fuel & Sustainability Conference. The region has strong structural advantages, including feedstock availability and growing aviation

European and Turkish polyvinyl chloride prices have increased sharply as the Middle East conflict drives up production costs and causes shipping disruptions, with Platts price assessments gaining at least $60/mt in the week to March 4. The outbreak of war in the oil- and gas-rich

Marine insurers are exploring new ways to revive seaborne trades in the Persian Gulf as threats shift from the weapons of past tanker wars to drones and modern missiles even as US offers to backstop war-risk insurance meets a cautious response. More than 10 ships

The US will lift sanctions on oil sales by “some countries” until the war with Iran “straightens out,” US President Donald Trump said March 9. “We are also waiving certain oil-related sanctions to reduce prices,” Trump said, speaking at a White House press conference. “We

The US Department of Homeland Security’s decision to furlough two-thirds of its cybersecurity staff could increase risks to US energy infrastructure, as defense analysts track a rise in cyberattacks targeting the operational systems of the nation’s critical assets in the wake of the Iran war.

European sustainable aviation fuel prices have risen alongside other fuels since the war in the Middle East began, driven by supply line pressures; however, although bullish momentum for conventional jet fuel remains strong, the biofuel’s premium over it is diminishing. Platts, part of S&P Global

Spreads across European natural gas markets against the Dutch TTF were reverting to pre-war levels in the week ended March 13, as the market normalized following a narrowing Northeast Asian JKM premium to the Dutch TTF. The Platts JKM April product was assessed at a

Asia’s energy transition has become an urgent economic and security imperative as the ongoing Middle East conflict exposes the vulnerability of the fossil fuel-dependent nations, energy experts said March 12. Market disruption and price volatility are making the case for a reassessment of energy security

Naval escorts for oil tankers and other merchant vessels through the Strait of Hormuz have limited power to restore the free flow of shipping through the critical chokepoint, as they cannot eliminate risk, the head of the International Maritime Organization said March 19. The US

India’s gas-fired power plants are unlikely to provide meaningful support during the summer peak demand season as supply disruptions linked to conflicts in the Middle East have sharply curtailed LNG availability, forcing the country to rely more heavily on coal-based generation to meet electricity needs,

The European polyethylene terephthalate thermoformed packaging value chain faces persistent challenges, particularly sorting losses and value chain fragmentation, as the sector works to meet EU Packaging and Packaging Waste Regulation targets for recycled content and food-grade compliance, according to Jose-Antonio Alarcon, technical support and development

Brazil’s Chamber of Foreign Trade announced on March 26 that a definitive antidumping duty on polyethylene imports from the US and Canada will be applied at the same levels as the preliminary tax, which will be valid for five years. According to an announcement published

Western Australia’s government has allocated A$15 million for interest-free loans to help nickel miners in operation and support the potential restart of idled mines and ramp-up of new projects, it said in an April 1 statement. The loans will be repayment-free until either July 1,

Rising energy and fertilizer costs linked to shipping disruptions through the Strait of Hormuz are amplifying risks to global food systems, with low-income, import-dependent countries facing the brunt, according to recent analyses by the UN and Purdue University. Shipping through the critical trade corridor has

US beef trimming imports remain above year-ago levels amid strong domestic demand and a slow pace of slaughter of bulls and cows, the main source of lean beef trimmings. The US Department of Agriculture said in its latest Imported Meat Passed for Entry in the

Participants in the Asia Platts physical fuel oil Market on Close assessment process concluded loading and discharging 1.36 million metric tons in February, marking a three-month high, according to operational trade performance data compiled by Platts, part of S&P Global Energy. Traded fuel oil volumes

The European Commission is doubling down on its current sustainable aviation fuel trajectory under ReFuelEU Aviation, signaling it will evaluate — rather than rewrite — the rules in 2027 despite mounting airline and energy-industry pressure over cost and implementation friction. The commission will not alter

Fertilizer market participants reacted with caution to the announcement by Iran’s Foreign Minister April 17 that the Strait of Hormuz is now “completely open” for all commercial vessels. “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz

India will release an additional 2.5 million metric tons of wheat for exports, doubling its total export quota to 5 million mt, according to a document by India’s Ministry of Consumer Affairs, Food and Public Distribution April 20, seen by Platts, part of S&P Global

China has temporarily suspended issuing export permission certificates for refining oil product exports since March 4, as the country’s top planner directed refiners and traders to focus on ensuring domestic supply security amid rising concerns over crude oil availability from the Middle East, seven state-owned

The Middle East war is raising the risk of food inflation following the upward trajectory of fuel, freight and fertilizer markets, as concerns grow that farm-to-fork price transmission will deepen throughout 2026 due to disrupted trade flows and energy-intensive inputs at multiyear highs. The Philippine

The number of ships transiting the Strait of Hormuz has continued to taper since the start of the war in the Middle East, falling to just four ships on March 8 from 91 seen on Feb. 28, according to S&P Global Commodities at Sea data

The Indian government has been taking actions to procure natural gas from alternative suppliers and via alternative routes to offset disruptions caused by the Middle East conflict, the Press Information Bureau, the country’s nodal government agency, said on March 11. “Gas companies have also secured

The escalating conflict in the Middle East is raising renewed concerns about global food inflation, as disruptions to energy, fertilizer and shipping markets threaten to push farm-to-fork costs higher across agricultural supply chains. Warnings from the UN World Food Programme, researchers at the International Food

Chevron Australia is keeping its focus on long-term customers as disruptions in the Middle East have a “significant impact” on LNG supply and pricing, President Balaji Krishnamurthy told Platts, part of S&P Global Energy, on March 14. “Currently, we are focused on supplying our long-term

Polypropylene prices rose worldwide so far in March following the outbreak of the war in the Middle East, according to data from Platts, part of S&P Global Energy. Prices for PP homopolymer injection-grade Europe have risen Eur220/mt since the start of March, according to Platts

Crude futures surged to fresh four-year highs on March 19 and the Brent-Dubai spread widened further as Iran launched a volley of missiles and drones at Gulf energy infrastructure, marking a significant new escalation in the Middle East war. Following an Israeli strike on Iran’s

This content is part of a series exploring key themes from the World Petrochemical Conference by S&P Global being held in Houston from March 23-27. Shipping disruptions in the Strait of Hormuz are forcing petrochemical companies to fundamentally rethink global supply chains, with vessel routing

The Organization for Economic Co-operation and Development, or OECD, has revised its estimate for Ukraine’s annual steelmaking capacity to 8 million metric tons, steel industry association Ukrmetallurgprom said in a March 23 statement, which also shows the OECD’s actual letter. Since 2020, OECD has been