News about World markets
The 4th session of the 14th National People’s Congress (NPC), the country’s largest legislative body, has concluded in the Chinese capital. The forum, held from March 4 to 12, summed up the results of economic development and defined key guidelines for the coming years, including the launch of a new five-year economic modernization program.
The U.S.-Israeli war against Iran is a blatant violation of international law. So are almost all other wars launched since the 1945 United Nations Charter, which prohibits the use of force except in self-defense or, as in the case of the Korean War (1950-53) and the First Gulf War (1990-91), with Security Council authorization. The current war with Iran stands out not for its illegality but for its lack of a clear or achievable objective.
The National Energy Regulatory Agency (NERA) has set the price of basic motor fuel for March 14.
Food and agricultural products account for more than 60% of Iran’s total supplies to Russia. The Russian market is significantly dependent on imports of Iranian fruit and vegetable products during certain periods of the marketing season.
The dollar is showing gains for the second week in a row, while the euro and yen are at multi-month lows.
The Republic of Moldova initiated the procedure for withdrawal from the Energy Charter Treaty (ECT).
The transportation of liquefied natural gas from the USA via Romania is extremely important for Ukraine and at the same time beneficial for Moldova. Ukrainian President Volodymyr Zelenskyy said this in Bucharest at a joint press conference with Romanian President Nicusor Dan after their official meeting.
US President Donald Trump has suspended sanctions on the purchase of Russian oil around the world. The measure will be in effect until April 11, and it concerns oil that is already at sea.
In Italy, one of the most discussed deals on the art market in recent years has been completed: the state has purchased the “Portrait of Maffeo Barberini”, recognized as an authentic work by Michelangelo Merisi da Caravaggio, for 30 million euros. After much debate about the provenance of the work, the authorities decided to exercise the right of first refusal to prevent the painting from leaving the country.
The rapid development of artificial intelligence is beginning to create unexpected problems for the global economy. The boom in the construction of data centers needed to train and run AI models is sharply increasing the demand for electricity, copper and energy equipment. Analysts warn: if current growth rates continue, the world may face a new type of shortage – not of oil, but of infrastructure, without which the digital economy simply cannot function.
Global markets of exchange-traded agricultural products have entered a phase of moderate growth. In this situation, hedge funds are gradually increasing their purchases of oilseeds and grains, anticipating a period of high price volatility.
Athletes from Moldova won two gold, four silver and five bronze medals at the European Open Para-powerlifting Championship, which ended in Tbilisi, Georgia, Logos Press reports.
Military conflict in the Middle East has led to a significant drop in tourist confidence in the UAE, Qatar, Oman and other countries in the region, which could help boost tourist traffic to the Northern Mediterranean, Logos Press reported.
The war in Iran has shaken the global oil and gas markets. At first glance, the cryptocurrency market was less noticeably affected. But analysts warn: the risks of investing in crypto-assets have increased significantly. And they can manifest themselves in an unexpected way at any moment.
Danish Energy Minister Lars Ogor urged the country’s citizens not to get behind the wheel of a car unless absolutely necessary to save energy resources amid rising fuel prices.
The International Energy Agency (IEA) has agreed the largest ever release of strategic oil reserves – 400 million barrels – to curb the rise in oil prices caused by the war with Iran. The decision to release the reserves was made unanimously by the IEA’s 32 member countries on March 11.
The parliament demanded a report from the prime minister on the rise in fuel prices. MP Olga Ursu from the Alternative bloc called on the government to present a concrete plan of measures to stabilize the situation.
Prices for major fuels continue to rally with no end in sight.
The release of strategic oil reserves by the G7 countries and the US has not yet led to a drop in fuel prices. Despite large-scale interventions, the cost of Brent oil continues to hold at around $100 per barrel.
The International Energy Agency (IEA) has updated its forecast for global oil production rates in 2026.
