OIL SURGES PAST $110 AS WAR RISKS INTENSIFY Oil jumped above $110 and diesel topped $200 after Trump threatened escalation in Iran, raising fears of prolonged disruption through the Strait of Hormuz. Despite hints the war could end soon, no clear timeline or plan has emerged, keeping markets on edge. With the strait effectively closed, supply remains severely constrained and prices have surged—Brent is up about 50% since the conflict began. Refined fuels are under even more pressure, with diesel spikes signaling rising global inflation risks. Tight supply is evident, with near-term oil contracts trading at record premiums. Until there’s clarity on de-escalation or Hormuz reopens, analysts expect continued volatility and elevated energy prices.

Macron says Trump cannot keep "contradicting" himself every day on Iran

Macron says it is unrealistic to open Hormuz Strait by force

Macron says Trump's comments about his relationship are "neither elegant nor up to standard"

BLACKROCK BETS ON RISING EUROPEAN YIELDS BlackRock is increasing short positions on German bonds, expecting a sharp rise in inflation to push yields above recent 15-year highs. The firm sees higher government spending on energy support and defense driving more debt issuance, increasing bond supply and borrowing costs. With Europe heavily exposed to energy shocks, inflation risks are seen as greater than in the US or UK. BlackRock expects German 10-year yields to climb further from around 3%. The shift in outlook—fewer rate cuts and potential hikes—has already paid off, with the fund outperforming peers as global yields rise.

GOLDMAN SACHS PARIS STAFF ALLOWED TO WORK REMOTELY ON THURSDAY AFTER ATTEMPTED ATTACK ON OTHER BANK- SOURCES

*INDIA SETS VOLATILITY MARGIN ON USDINR FORWARDS TO CURB SWINGS

KREMLIN: FOR RUSSIA, NATO IS A HOSTILE ALLIANCE KREMLIN ON TRUMP STATEMENT ABOUT IRAN: IF NEEDED, RUSSIA IS READY TO HELP CONTRIBUTE TO RESOLVING THE IRAN WAR

RYANAIR CEO EXPECTS OIL PRICES TO FALL SOON, ACCORDING TO WIRTSCHAFTSWOCHE INTERVIEW

*JAPAN DECIDES TO JOIN UK-LED ONLINE TALKS ON HORMUZ: REUTERS

GLOBAL DIESEL SCRAMBLE SENDS SHIPS ON EXTREME ROUTES Surging fuel prices from the Iran war are forcing traders into unusually long and costly shipping routes. Tankers are now traveling over 12,000 miles—like a UK-loaded vessel heading to Australia—as higher Asian prices pull fuel away from Europe. Despite Europe facing diesel shortages, Asia’s supply crunch is even worse, driving a global tug-of-war for fuel. The disruption is fueled by the Strait of Hormuz closure and reduced refining, creating what the IEA calls a record supply shock. Unprecedented flows are emerging, with multiple tankers rerouting from the US and Europe to Australia and Asia. The longer the Hormuz disruption lasts, the tighter global supply becomes—raising the risk of shortages, especially in Europe.

IRAN WARNS OF TOTAL RESPONSE AS US BUILDS FORCES Iran has escalated its rhetoric after Trump’s overnight threats. Army chief Amir Hatami warned that any ground invasion would face total destruction. Meanwhile, the US has deployed thousands of troops to the region, raising speculation of a possible ground operation.

IRANIAN ARMY CHIEF: NO ENEMY MUST ESCAPE IF THEY ATTEMPT TO CARRY OUT A GROUND OPERATION

HORMUZ UNCERTAINTY KEEPS OIL PRICES HIGH Trump’s latest remarks have not changed forecasts, with Brent still expected to average around $113 in Q2, according to Oxford Economics. The main risk remains the Strait of Hormuz. With no clear plan to reopen it, supply disruptions are likely to continue, keeping upward pressure on oil prices. Analysts warn that the longer the strait stays effectively closed, the less effective reserves become—raising costs for the global economy.

*EUROPEAN DIESEL FUTURES HIT $200 A BARREL AS WAR CURBS SUPPLY

METALS SLIDE AS WAR UNCERTAINTY SHAKES MARKETS Gold and silver fell sharply after Trump’s remarks failed to provide a clear end to the war. Gold dropped about 3% to around $4,670/oz, while silver fell over 5%. The selloff reflects rising inflation fears from higher oil prices, which could push central banks to keep rates higher for longer—bad news for non-yielding assets like gold. Prices are also down roughly 11% since the war began. Analysts say some investors are locking in profits ahead of the long Easter weekend, adding to the decline.

ALTMAN'S SISTER FILES AMENDED LAWSUIT ALLEGING SEXUAL ABUSE Annie Altman has filed an amended lawsuit accusing her brother, OpenAI CEO Sam Altman, of long-term sexual abuse. A judge allowed the case to proceed under Missouri’s child abuse law, even though other claims were ruled too old. She alleges abuse from 1997 to 2006, beginning when she was three years old. Sam Altman denies the allegations and has filed a defamation countersuit based on her public statements. The Altman family disputes her claims, citing mental health concerns and describing the lawsuit as extortion.

IRAN'S HATAMI TELLS OPERATIONAL HEADQUARTERS TO MONITOR 'ENEMY MOVEMENTS WITH UTMOST ACCURACY' TO COUNTER THEIR PLANS, ESPECIALLY GROUND ATTACK