Oil prices surged after negotiators remained gridlocked over reopening of strait of Hormuz, sending prices $1 higher than last yearUS gas prices rose to their highest level in four years on Thursday, reaching an average $4.18 a gallon at the pump as US-Israeli peace talks with Iran remain at a standstill.The last time average US gas prices breached $4.15 a gallon was in April 2022, when oil prices soared shortly after Russia invaded Ukraine. Average gas prices are now $1 higher than just a year ago, when they were closer to $3.15 a gallon. Continue reading...
• U.S. stock futures fell late Sunday with Dow Jones Industrial Average futures down 130 points or 0.3%, S&P 500 futures and Nasdaq-100 futures also declining after record highs on Friday.
• West Texas Intermediate crude futures rose 2% above $96 per barrel following collapsed U.S.-Iran talks announced Saturday.
• The Federal Reserve's interest-rate committee meets Tuesday-Wednesday, with Chair Jerome Powell's likely final press conference anticipated amid market highs.
Demand at online marketplaces could settle at a new, higher normal, with the crisis leaving consumers ‘scarred’Car buyers’ interest in electric cars has surged across Europe since the start of the war in Iran, as the rising cost of petrol highlights the cheaper power available from a plug.Online marketplaces in the UK, Germany, France and Spain reported huge increases in inquiries about electric vehicles since the start of the conflict in February. Continue reading...
Airline projected a $2bn increase in fuel costs this quarter amid volatility in oil markets sparked by the warThe CEO of Delta Air Lines, Ed Bastian, braced customers for higher fares following the surge in oil prices sparked by the US-Israel war on Iran, amid strong demand from passengers.Though rising oil prices have cost the company an extra $330m in fuel expenses, and it projected a $2bn increase in fuel costs in the current quarter, Delta forecast that revenue would grow 10% as flyers continue to book flights. Continue reading...
• The Institute for Supply Management’s Purchasing Managers Index revealed business input prices rose 7.7 percentage points in March 2026.
• This spike reflects heightened costs amid geopolitical tensions and oil price volatility, contributing to broader inflationary pressures.
• The data underscores challenges for corporate earnings and economic indicators as firms face elevated expenses.
• San Francisco became the first U.S. city where average diesel prices exceeded $8 per gallon due to oil supply disruptions from the Iran conflict.
• National gas prices jumped above $4.11 per gallon, with a 34% increase in one month as oil topped $115 per barrel, per GasBuddy and AAA data.
• The surge is squeezing household budgets and testing central banks' ability to combat inflation, with Federal Reserve Chair Jerome Powell warning of an energy supply shock.
Petrol has risen 19% and diesel 35%, and in England the north has had the sharpest increasesFuel prices have risen faster in Northern Ireland than in any other UK region since the beginning of the Iran war.Analysis of official data shows that petrol has jumped by 19% in Northern Ireland since the end of February, and diesel is now 35% more expensive. The rises are among the largest in Europe. Continue reading...
• Asian stock markets declined sharply as geopolitical tensions persisted, with South Korea's Kospi dropping 3.4%, Japan's Nikkei 225 falling 1.2%, and Taiwan's Taiex losing 2.2%, erasing year-to-date gains for some indexes.
• Oil markets remained elevated with Brent crude holding near $113 per barrel and US benchmark crude at approximately $103, marking a surge of more than 40% since the Iran conflict began five weeks ago.
• A reported drone strike on a Kuwaiti oil tanker and ongoing regional attacks reinforced supply security concerns, keeping markets highly sensitive to geopolitical developments despite signals the US may seek conflict resolution.
• Alcoa shares surged 11-12% and Century Aluminum 13.6% as aluminum prices reached near four-year highs due to Middle East infrastructure strikes.
• Iranian missile strikes hit critical metal industry infrastructure, disrupting supply and driving the commodity rally amid the widening conflict.
• The gains in metal stocks contribute to broader market recovery, underscoring sector sensitivity to geopolitical supply shocks.