Sector

• The European Commission introduced draft legislation on April 18 to impose stricter sanctions on Russian oil, gas, and refining infrastructure, aiming to reduce EU energy dependence by 35% within two years. • The proposal includes price caps on Russian liquefied natural gas imports and expanded restrictions on third-party shipping companies, targeting the "shadow fleet" used to circumvent existing penalties. • EU energy ministers debated the plan in Brussels, with Hungary and Slovakia expressing concerns about potential economic costs to their economies, though Germany and Poland voiced strong support.

New meeting to come after rare direct talks between the countries mediated by US; Netanyahu earlier says Israel about to ‘overwhelm’ part of southern LebanonUS and Iran in indirect talks to extend two-week ceasefireHello and welcome to our live coverage of events in the Middle East.Donald Trump says the leaders of Israel and Lebanon will hold talks on Thursday, after the countries’ first face-to-face diplomatic negotiations in decades.Pakistan’s army chief met with Iran’s foreign minister in Tehran on Wednesday in the latest diplomatic move to ease Middle East tensions and arrange a second round of US-Iran negotiations. Trump said earlier that the war was “very close to over”.Leavitt said a second round of US-Iran talks would “very likely” take place in Islamabad again and that Pakistan was “the only mediator” in the discussions.Major Wall Street stock indices extended an upward climb on optimism about a US-Iran agreement.Israel’s security cabinet met to discuss a ceasefire after the Israel-Lebanon talks mediated by the US in Washington on Tuesday. But the Israeli military continues to strike the country, with Netanyahu saying Israel was about to “overwhelm” the southern Lebanese town of Bint Jbeil, calling it a Hezbollah stronghold.Four Lebanese rescue workers were killed in consecutive Israeli strikes in the southern Lebanon village of Mayfadoun on Wednesday, paramedic groups said. Six others were wounded.The US military’s Middle East command Centcom said it stopped 10 vessels from sailing out of Iranian ports during the first 48 hours of the US naval blockade. But ship tracking data indicated at least three ships sailing from Iranian ports crossed the strait of Hormuz, though some vessels taking the route later turned back.The finance ministers of 11 countries including the UK and Japan called for “coordinated emergency support” from the IMF and World Bank to help countries hit by disruptions from the Middle East war. Continue reading...

• Crude oil futures surged above $85 per barrel Thursday, driven by ongoing supply constraints from geopolitical tensions and maintenance shutdowns at major U.S. refineries affecting production capacity. • Energy stocks in the S&P 500 gained 2.1% on the session, with exploration and production companies outperforming as rising commodity prices improve profit margins and cash flow forecasts. • Analysts noted that refinery capacity utilization fell to 87% this week, the lowest level since January, suggesting tighter margins ahead for integrated energy companies dependent on downstream operations.

• Major US indexes showed mixed performance with DJIA ETF down 0.09% at 465.06, S&P ETF up 0.09% at 655.83, and QQQ up 0.11% at 584.98. • Energy sector outperformed daily with +0.59% gain and +29.41% YTD, while Financial Services lagged at +0.29% daily but -10.46% YTD; Telecom led daily at +2.57%. • Commodities volatile: Oil surged 11.93% to $112.06, Gold dropped 2.29% to $4,702.70, Bitcoin fell 0.31% to $66,724.

• US tech companies cut 52,000 jobs in just three months of 2026, driven by rising AI investments. • Layoffs stem from restructuring for AI priorities, though economic factors also contribute beyond automation. • The trend highlights tensions between AI-driven efficiency gains and workforce displacement in Silicon Valley.

President says he is open to scaling back strikes on oil and wider energy industry if Moscow reciprocates. What we know on day 1,496 Continue reading...

• President Trump announced he is delaying threatened strikes on Iran's energy infrastructure, citing productive talks on ending the war and extending the deadline for Iran to reopen the Strait of Hormuz. • Iranian leaders continue to deny any direct talks are taking place with U.S. officials, maintaining their public position on the dispute. • The delay signals potential diplomatic progress while tensions remain high over regional shipping routes critical to global oil supplies.

• The Nasdaq 100 and Dow Jones Industrial Average have both entered correction territory, defined as a more-than-10% decline from recent peaks, marking a significant milestone in the market downturn. • Tech stocks have been particularly hard hit, with Amazon dropping 3.1% and Meta Platforms falling 3.5%, as the sector faces pressure from both high valuation concerns and geopolitical tensions related to the Iran war. • The S&P 500 has suffered five consecutive weeks of losses—its longest losing streak in nearly four years—and is now 8.7% below its record set in early 2026.

• President Trump announced a 10-day pause in strikes on Iran's energy infrastructure through April 6, 2026, at 8:00 p.m. Eastern time, citing ongoing negotiations mediated by Pakistan under a 15-point framework. • Trump disclosed that Iran sent ten oil tankers as a goodwill gesture, and Secretary of State Marco Rubio characterized Iran's clerical leadership as "religious fanatics" posing a global nuclear threat. • Israel confirmed the killing of Iran's navy head responsible for Strait of Hormuz disruptions, while Iran launched emergency recruitment and lowered its draft age to 12, according to CBN News reporting.

• President Trump extended the strike deadline on Iran's energy sector while warning that failure to accept current negotiation terms would result in "far greater military consequences," according to White House statements. • The White House confirmed ongoing negotiations with Iranian leadership despite military operations continuing at historic levels, with Iranian leadership described by Trump as "desperate to negotiate."