Energy:
1. According to Indonesian media citing a senior advisor to the Indonesian president, Russia has pledged to supply Indonesia with 150 million barrels of oil.
2. The US claims to have intercepted an oil tanker carrying oil from Iran.
3. South Korean Presidential Office: South Korea has secured a supply of 74 million barrels of crude oil for May.
4. Indonesian Energy Minister: Indonesia will import 150 million barrels of crude oil from Russia this year.
5. South Korean Presidential Office: South Korea's dependence on Middle Eastern crude oil has decreased to 56%, down from 69%.
6. Hungarian oil and gas company MOL: Has begun receiving oil through the "Friendship" pipeline.
7. UK Office for National Statistics: Fuel sales surged in March due to drivers stockpiling fuel.
8. The White House is reportedly expected to extend the Jones Act waiver period for up to 90 days as early as Friday.
9. Japan's Ministry of Economy, Trade and Industry: Due to the Iranian crisis, Japan will release 5.8 million kiloliters of national oil reserves, with some releases beginning on May 1st.
Precious Metals and Mining:
1. CME lowers margin requirements for gold and silver futures contracts.
2. International Lead and Zinc Study Group (ILZSG): Global refined lead demand is projected to grow by 1.1% this year to 13.72 million tons. Global refined lead production is projected to grow by 1.3% to 13.83 million tons by 2026.
Agriculture:
1. Malaysian Palm Oil Council: Crude palm oil prices will be supported by stronger biodiesel economics, rising crude oil prices, and the development of El Niño. However, crude palm oil prices may face a ceiling due to weakening export demand amid inflation and weak economic growth in major importing countries.
Strait of Hormuz Situation:
1. Trump: Has ordered the sinking of any ships laying mines in the Strait of Hormuz.
2. Iran grants exemptions from transit fees in the Strait of Hormuz to "friendly" countries including Russia.
