Energy
1. US gasoline prices rise to their highest level in over 21 months.
2. Maersk says 10 ships are stranded in the Persian Gulf; capacity recovery will take at least a week.
3. Middle East conflict pushes up Russian oil tariffs, exceeding budget targets for the first time since 2025.
4. Sources say Abu Dhabi National Oil Company has instructed its partners to risk entering the Gulf to retrieve oil.
5. US Interior Secretary Bergham: There are many options to ensure the smooth flow of shipping and energy.
6. Bangladesh confirms it has applied for a temporary exemption from the US to purchase Russian oil: Bangladesh should receive the same treatment as India.
7. Spokesperson for Iran's Khatham Anbia Central Command: The US cannot control oil prices through "artificial measures" and is prepared for prices to rise to $200 per barrel.
8. U.S. EIA strategic petroleum reserves for the week ending March 6th were at their highest level since the week ending September 30th, 2022; commercial crude oil inventories excluding strategic reserves were at their highest level since the week ending May 16th, 2025.
9. European Commission President Ursula von der Leyen: In the first 10 days of the U.S.-Israel war against Iran, Europe spent an additional €3 billion due to over-reliance on fossil fuels. Returning to Russian fossil fuels would be a strategic mistake.
10. Sources: Qatari energy customers, including Shell, Total Energy, and several other Asian companies, have declared force majeure on their liquefied natural gas imports from Qatar to their downstream customers.
11. Price stabilization policies: ① The IEA announced the release of 400 million barrels of emergency oil reserves, the largest release in history. This includes the U.S.: 172 million barrels, Japan: approximately 80 million barrels, South Korea: 22.5 million barrels, Germany: approximately 19.5 million barrels, France: up to 14.5 million barrels, and the UK: 13.5 million barrels.
② European Commission spokesperson: They are exploring subsidies or capping natural gas prices.
③ Australia temporarily revised its fuel quality standards to increase supply and put downward pressure on prices.
④ Slovakia announced a five-day freeze on fuel prices.
⑤ Malaysian Prime Minister: Malaysia has sufficient fuel supply and can maintain the price of subsidized RON95 gasoline.
12. Supply and Demand Situation:
① OPEC Monthly Report: Maintained its global oil demand growth forecast for this year and next. Saudi Arabia significantly increased production before the attack on Iran.
② Caspian Pipeline Alliance lowered its March crude oil export plan by 15%.
③ Kazakh Energy Minister: Kazakhstan will not increase oil production. Production in 2026 is expected to be 96-98 million tons, lower than planned.
④ Senior Kurdistan Regional Government official: Unless the Iraqi government immediately provides dollar aid to the Kurdistan region, no oil will be transported through the Iraq-Turkey pipeline.
⑤ Saudi Aramco requested Asian buyers to submit two crude oil loading plans for April.
⑥ US Interior Secretary: Venezuela's daily oil production could reach 4 million barrels, a reasonable expectation.
13. Energy Situation:
① Two oil tankers, reportedly belonging to the US and Greece, were attacked and caught fire by Iran in Iraqi territorial waters. Iraqi officials stated that oil ports have been completely shut down, while commercial ports remain operational.
② Maritime security agencies and sources stated on Wednesday that three ships were attacked in the Strait of Hormuz.
③ Media reports indicated that Iran gave India the "green light" to allow two oil tankers to pass, but Iranian sources denied this.
④ US State Department: Iran and its supported organizations may be planning attacks on US oil and energy infrastructure in Iraq.
⑤ To prevent Iranian attacks, Oman has evacuated all ships from the key oil export terminal, Mina al-Fahhar.
⑥ Iran stated that its "reciprocal retaliation" strategy has ended, and it will no longer maintain a one-on-one retaliatory pace, instead implementing a "chain attack" strategy.
⑦ Ukraine's National Oil and Gas Corporation: Russia has attacked the Odessa-Brodi oil pipeline in Ukraine for the second consecutive day.
Precious Metals and Mining
1. Gold and silver prices rise; US jewelry prices up over 11% in a year.
2. Mali establishes a mining task force with judicial authority to crack down on illegal gold mining and smuggling.
3. The Polish central bank says the country has 570 tons of gold reserves, maintaining its target of 700 tons.
4. Following the strike, mines owned by Chile's state-owned copper company have resumed normal operations; talks have been arranged.
5. Sources: Rio Tinto has adjusted its premium for aluminum supplies to Japan from April to June to $350 per ton, a 40% increase from the initial quote.
6. Fitch's research arm, BMI, predicts the average silver price this year will be around $93 per ounce. In comparison, the average silver price in 2025 is projected to be $40 per ounce.
Other
1. Iranian Agriculture Minister: Domestic food supplies are stable, and there is no shortage.
2. Vietnam plans to increase rice reserves and encourage traders to increase purchases to stabilize the market.
