International Energy Agency Executive Director Fatih Birol: Whether Australia takes energy-saving measures is up to its own decision.

SPOT GOLD DROPS TO LOWEST LEVEL SO FAR THIS YEAR; SPOT GOLD FALLS 4.7% TO $4,280.24 A TROY OUNCE

Energy: 1. Saudi Arabia reduced its April crude oil supply to Asian buyers, supplying only Arab Light crude oil exported from Yanbu port to long-term clients. 2. Goldman Sachs: Projects an average Brent crude price of $85 (previously $77) and an average WTI crude price of $79 (previously $72) in 2026. 3. Kpler: Global LNG exports fell to their lowest level in six months due to the conflict with Iran. 4. International Energy Agency Executive Director Birol: Restoring oil and gas supplies from the Gulf region could take six months. 5. Federal Reserve Governor Waller: High oil prices for months could trigger persistent inflation. 6. IEA: Over 40 Middle Eastern energy facilities "severely damaged." It is consulting with governments regarding further releases of oil reserves. 7. Hungarian Prime Minister says further anti-Ukraine measures may be taken due to oil supply issues. 8. Natural gas prices in West Texas turn negative, forcing suppliers to burn excess production. 9. Fuel shortages occur in parts of Australia; the government urges the public not to panic and hoard fuel. 10. The Middle East situation triggers a gas shortage in India; approximately 30% of restaurants and hotels have closed. 11. Iraq reports that Iranian natural gas supplies have resumed, with a daily supply of 5 million cubic meters. 12. According to NHK, Japan will use approximately 800 billion yen of its budget reserves to curb gasoline prices. 13. The Spanish Prime Minister announced a €5 billion bailout plan, including reductions in fuel and electricity taxes. 14. US Energy Secretary Wright: Strategic petroleum reserves will be gradually released in the coming months. 15. Brazilian President Lula urges Brazil to establish strategic petroleum reserves. 16. EU member states are urged to lower their natural gas storage targets. 17. Due to the conflict with Iran, British households' energy bills will increase by £332. 18. Italy joins the competition for Algerian natural gas. 19. Shipping data shows the Philippines is about to import its first batch of Russian crude oil since 2021. 20. Chairman of the Japan Petroleum Association: There are currently no plans to use Iranian crude oil as a substitute. Precious Metals and Mining: 1. Spot gold's nearly 30% year-to-date gains have been wiped out. 2. The Shanghai Gold Exchange issued a notice on strengthening market risk control in the near term. 3. Russia's gold holdings fell to 74.3 million ounces in February. 4. The U.S. Commodity Futures Trading Commission (CFTC): In the week ending March 17, COMEX gold speculators increased their net long positions by 3,682 contracts to 105,920 contracts, a seven-week high; COMEX silver speculators reduced their net long positions by 420 contracts to 9,301 contracts. Middle East Situation: 1. Iran proposed four measures in response to Trump's "ultimatum" to open the Strait of Hormuz, including the complete closure of the Strait of Hormuz. 2. Iranian Revolutionary Guard: If Iranian energy facilities are attacked, companies with US ownership will be "completely destroyed." 3. US Treasury Secretary Bessant: "50 days of price increases could buy 50 years of Iranian denuclearization." 4. US Treasury Secretary Bessant: One reason why WTI crude oil prices have remained below $100 and haven't surged like they did at the beginning of the Russia-Ukraine conflict is the current ample supply in the market.