World steel demand forecast slashed amid Middle East turmoil
April 14, 2026
The World Steel Association (worldsteel) lowered its forecast for global steel demand growth in 2026 from 1.3% to just 0.3%, citing
Markets
BP’s trading windfall shows how volatility benefits oil majors
April 14, 2026
BP told investors that its Q1 trading and refining performance will be “exceptional” thanks to the extreme oil price swings caused
UK prepares targeted energy‑cost support as bills rise
April 13, 2026
British finance minister Rachel Reeves announced she will set out her approach this week to help businesses grappling with high energy
Europe rolls out relief and rethinks its energy strategy
April 13, 2026
In response to soaring fuel costs, Germany’s ruling coalition unveiled a €1.6 billion relief package that cuts energy taxes on petrol and
Oil shock: Hormuz blockade exposes fragility of energy security
April 13, 2026
The US has announced a naval blockade of Iranian ports, a move that could remove up to two million barrels per day
US loans 30 million barrels from the Strategic Petroleum Reserve
April 10, 2026
DOE will loan up to 30 million barrels of crude from the West Hackberry SPR site, marking the third solicitation since fuel
EU‑US near a critical minerals pact to counter China
April 10, 2026
The EU and US are closing in on a critical minerals deal that would coordinate the production and supply of key
Middle East producers plan exports but blockade continues
April 10, 2026
Producers ask customers to nominate cargoes – Saudi Aramco, Kuwait Petroleum Corp (KPC) and Iraq’s SOMO have asked Asian refiners to
Goldman Sachs trims oil price forecasts but cautions supply risks remain
April 9, 2026
Goldman Sachs lowered its Q2 2026 Brent and WTI forecasts to $90 and $87 per barrel respectively, from $99/$91. The bank notes that
Israeli gas restart lifts supply prospects amid uncertainty
April 9, 2026
Israel’s energy ministry has instructed Energean to restart the Karish offshore gas platform, closed since 28 February. The resumption follows a US-Iran
