Oil soars past $100 a barrel
Oil prices have surged past $100 a barrel amid the fallout from the United States and Israel’s war on Iran.
Brent crude, the international benchmark, rose by more than 30 percent on Sunday, at one point topping $119 a barrel, as fears grew of prolonged disruption to global energy supplies.
The surge marked the first time oil rose above $100 per barrel since Russia’s 2022 invasion of Ukraine.
Oil prices dropped back to about $110 per barrel after The Financial Times reported that the Group of Seven finance ministers would discuss the release of petroleum reserves in coordination with the International Energy Agency.
Turkmenistan reports growth in oil and gas output
Deputy Chairman of the Cabinet of Ministers Guvanch Agajanov announced at a Cabinet meeting chaired by President Serdar Berdimuhamedov that oil production reached 107.3 percent of the planned volume, while refining operations achieved 107.1 percent.
Refined product output showed strong gains. Gasoline produvtion hit 122.7 percent of plan, liquefied gas 119.7 percent of the plan, diesel fuel 106.4 and lubricating oils 102.7 percent.
Natural and associated gas production also surpassed expectations, reaching 106.7 percent of the plan.
The Turkmennebit State Concern is Turkmenistan’s state-owned oil company responsible for the exploration, production, and processing of crude oil and gas condensate in the country.
Australia: iron ore machine faces a structural test
From the red dust of Western Australia (WA) to the negotiating rooms in Beijing, Australia’s iron ore sector is navigating softer prices, shifting demand and rising competition.
The Pilbara in WA is home to the world’s largest and most economically significant iron ore deposits; the large, dry and sparsely populated region has been a major contributor to global steel production for decades.
Over this time, Australia’s iron ore dominance has been based on extracting high volumes of hematite and moving it efficiently by rail and ship to Asia’s blast furnaces.
That model still delivers. Australia produced 967.8 million tonnes (mt) of iron ore in 2025, up 1.4 percent year-on-year (YoY), and accounted for 36.8 percent of global output in 2024, according to a report by Mining Technology’s parent company, GlobalData, entitled Australia Iron Ore Mining to 2035.
Prioritising local energy supply
In March 2026, as the aftermath of the US and Israeli strikes on Iran ripples through the global economy, the fragility of the international energy chain has been laid bare. With reports of QatarEnergy halting spot shipments and Iran threatening to effectively close the Strait of Hormuz, the “worst-case scenario” for energy-dependent nations is no longer a theory – it is an existential crisis.
The strait remains the world’s most critical chokepoint, with 20 million barrels of oil per day (bpd) – nearly 30 percent of all seaborne-traded oil – passing through it. For Pakistan, the vulnerability is acute: roughly two-thirds of its total LNG supplies transit this route. At a time when every $10 increase in oil prices expands Pakistan’s current account deficit by $1.5 to $2 billion annually, the transition to a “war-room effort” for domestic energy is a national strategic priority.
Large energy costs drive shift to renewables in tea sector
Kenya’s tea industry is turning to renewable energy and efficiency upgrades as rising power costs and tightening wood fuel supplies strain the economics of processing one of the country’s most important export crops. The African Development Bank (AfDB), through its Sustainable Energy Fund for Africa, has launched a technical study to identify clean energy solutions for factories managed by the Kenya Tea Development Agency (KTDA), seeking to prepare a pipeline of bankable projects that could reduce energy costs and modernize operations across the sector. Tea processing is among the most energy-intensive activities in the Kenyan agricultural sector, with power and fuel accounting for roughly a quarter of black tea production costs. Across 71 factories, annual energy consumption is estimated at about 150 gigawatt-hours of electricity and roughly 900,000 cubic meters of biomass equivalent to around 1,575 gigawatt-hours, leaving factories heavily reliant on wood fuel to meet thermal demand.
El Niño and West Asia tensions may impact sugarcane output
An emerging El Niño along with supply disruptions linked to tensions in West Asia could affect global sugarcane production and push sugar prices higher in the coming months, according to a market analyst.
Michael Ferrari, Vice-President of Research at Moby and Senior Partner at AlphaGeo, said changing weather conditions combined with geopolitical risks could create pressure on agricultural production, particularly crops such as sugarcane.
Ferrari said the expected El Niño conditions could lead to crop stress in major producing regions, which may reduce sugarcane yields and affect sugar production. At the same time, disruptions in global supply chains caused by conflict in West Asia could add further pressure on commodity markets.
Wheat crop shouldn’t be water stressed at grain
Agriculture experts have advised farmers to ensure that the wheat crop must not remain water stressed, particularly at the grain nourishment stage, to secure better yield and grain size.
According to a spokesperson for the Punjab Agriculture Department Multan, irrigation at the milky stage (early grain formation) is crucial as it is the period when grains develop and fill. Delay or shortage of water at this stage results in shriveled grains, reduced size and ultimately lower production.
The department also warned farmers about the possible attack of “Kangi” disease, which initially appears in patches in certain parts of the field and later spreads across the entire crop. Growers have been urged to regularly inspect their fields and, in case of infection, spray only the affected areas after consultation with local agriculture extension officials. Appropriate fungicides should be used but strictly on expert advice.