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."

Policy brought forward as Middle East war highlights fragility of global supply chainsBritish suppliers will be prioritised for public contracts in shipbuilding, steel, AI and energy infrastructure under new guidance marking them out as sectors vital to national security.Departments will also have to either use British steel or justify sourcing it from overseas, under the rules announced by the government. Continue reading...

• Technology companies are collaborating with the energy industry to address surging electricity demands, announcing new ideas on March 25, 2026, in Houston. • Big Tech is shifting its approach by offering high-tech solutions to prevent grid failures amid rising power needs from data centers and AI. • The partnership aims to enhance grid reliability, countering previous calls for simply more electricity generation.

• The Treasury Department's FSOC and AITO launched the AI Innovation Series, a public-private initiative with four roundtables convening financial institutions, tech firms, and regulators on high-value AI use cases. • Treasury Secretary Scott Bessent stated, 'Leadership in AI adoption is a crucial component of economic security,' shifting regulation from constraint to enabling productivity-enhancing tech. • Deputy Assistant Secretary Christina Skinner emphasized AI's role in fraud detection, credit allocation, and operational resilience for financial stability.

• The S&P 500 declined 0.84% to 6,551.67 in afternoon trading on Friday with 139 equities advancing and 364 declining across the index, indicating broad-based weakness. • Market rotation continued with only the utilities sector trading in positive territory while all other sectors posted losses amid elevated geopolitical tensions and rising borrowing costs. • Market volatility remains high as investors grapple with competing concerns about inflation stemming from the Iran conflict and the potential impact on Federal Reserve policy decisions.

• Sumitomo Corporation is introducing Palantir Technologies' AI Platform (AIP) via U.S. group company Ascend SC in Texas for oil country tubular goods SCM. • The platform advances digital transformation in managing inventory and just-in-time delivery for diverse oil and gas drilling specs. • Collaboration with SCSK fuses business knowledge and tech for global DX and competitiveness in energy supply chains.

Charles Schwab stock rose 1.8% on March 13, 2026, amid gains in financial services, health care, and consumer goods sectors during a choppy session. About 61% of S&P 500 stocks advanced, with Schwab benefiting from defensive positioning. This resilience contrasts tech declines, pointing to rotation into value areas. Sector performance may persist if volatility continues.

Chinese EV maker NIO rose about 4% on March 13, 2026, indicating improving investor sentiment toward global electric vehicle manufacturers amid market turbulence. Gains followed strong trading volume, paralleling US peers like Tesla's stability. This occurs as broader indices like Nasdaq slipped, underscoring EV rotation appeal. Potential next steps involve tariff-related EV supply chain updates.