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Seville could see 34C this week and parts of Brazil could hit high 30s, while storms forecast in southern AfricaOver the course of this week, temperatures in Spain are expected to soar well above the seasonal average. Daytime temperatures could reach about 30C in Madrid on Tuesday, 10C above the norm, while Seville may see 34C, about 9C above its late April average. An area of low pressure situated out in the Atlantic will allow for a south-westerly flow, introducing warm air from north Africa. In addition to this heat, a notable dust plume is expected to travel northwards from the Sahara, covering the skies above Iberia and south-western France, which may lead to some particularly orange or red skies at sunrise and sunset.In Brazil, high temperatures are forecast for the states of São Paulo, Paraná, Mato Grosso do Sul and Santa Catarina over the next few days, eventually spreading into Minas Gerais. Here, daytime maximum temperatures are expected to reach the high 30s Celsius later in the week, about 5-10C above the seasonal average. 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.

Liberal MP makes first public comments since Australia’s most decorated living soldier, whom he served alongside, was charged with war crimes The Liberal MP, Andrew Hastie, says Ben Roberts-Smith is entitled to the presumption of innocence but “none of us are above the law” in his first public comments since Australia’s most decorated living soldier was charged with war crimes.Hastie served alongside Roberts-Smith in Afghanistan and was among the 21 Special Air Service (SAS) who gave evidence in the defamation case he brought against the Nine newspapers. Continue reading...

Queensland senator ‘steadfast’ in her support of former Australian soldier as police charge him with five counts of war crime – murderFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe One Nation leader, Pauline Hanson, says she will not “abandon” Ben Roberts-Smith despite his arrest over war crimes, as the Greens declare “no one should be above the law”.As the prime minister, Anthony Albanese, refused to weigh into Roberts-Smith’s arrest at Sydney airport on Tuesday morning, Hanson reaffirmed her long-held support for Australia’s most decorated living soldier. Continue reading...

Fuel stocks at same level as when US and Israel launched their war on Iran a month ago, energy minister saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe federal government is preparing for scenarios where global oil prices spike above US$120 a barrel, as diesel prices nationwide go past $3 a litre and the prime minister, Anthony Albanese, plans another national cabinet meeting to plan petrol supply.The treasurer, Jim Chalmers, said one option under consideration was expanding ethanol mandates across the country, after Guardian Australia revealed the government was analysing increasing the biofuel’s supply. Continue reading...

• West Texas Intermediate crude topped $100 per barrel for the first time since 2022 in early Monday trading, while Brent held above $102, driven by ongoing Middle East conflict in the Strait of Hormuz entering its third week. • Several tankers successfully transited the waterway over the weekend, lifting market sentiment; however, WTI pulled back to $95 by late trading, down over 3%, as President Trump pressured NATO allies to help break Iran's blockade. • The Dow, S&P 500, and Nasdaq rose as investors weighed the dual impact of potential Hormuz reopening against inflation concerns; Federal Reserve officials begin a two-day policy meeting this week amid uncertainty over rate path decisions.

US equity futures fell sharply on March 13, 2026, extending a market slide amid Brent oil prices surpassing $100 a barrel due to escalating tensions from the US-Israel war with Iran. Chevron shares rose 30% year-to-date while ConocoPhillips dipped slightly in premarket trading, reflecting energy sector volatility. The rally in oil prices deepened fears of a global inflation spike, with experts warning it poses the biggest risk to macro sentiment. Markets anticipate further volatility as the Trump administration advances second-round tariff investigations on 60 economies.

Brent crude oil has climbed above $100 per barrel, intensifying global inflation concerns and triggering a selloff in U.S. equity futures on March 13, 2026. The surge reflects escalating geopolitical tensions related to the U.S.-Israel conflict with Iran, which experts warn could dampen market sentiment and economic growth. Oil majors Chevron and ConocoPhillips are seeing significant gains, with Chevron up 30% year-to-date, as energy stocks benefit from higher crude prices. The broader market remains volatile as investors assess the macroeconomic implications of sustained elevated oil prices.