Latest news on the Middle East conflict
Read the latest news stories as they are published.
US-Iran war: Latest news
US-Iran war: Latest news
Houston, 13 March (Argus) — A round-up of the latest Argus news stories focusing on the US-Iran conflict. TOP HEADLINES European majors face Gulf headache despite profit boost US-Iran war options point to no easy way out Hormuz halt forces Opec+ producers to curb crude output Permian WTI premiums continue to rise LATEST NEWS Crude West African crude Djeno gains on China interest Jones Act waiver may limit European distillate buying US cracks: Gulf coast margins fall as oil jumps USGC raffinate at highest since mid-2022 US Gulf coast ULSD, jet fuel prices hit 3-year highs US midcontinent diesel prices keep rising NYH distillates hit new 3-year highs Venezuelan investment prospects may be looking up Petrobras diesel price hike to be short-term: CEO Polymers US polymer export prices move higher NWE rPE, rPP sales start to rise as virgin PE, PP surge Agriculture and fertilizers US ag secretary seeking ways to curb fertilizer costs Metals Freight turmoil stalls global bulk metals trade Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US ag secretary seeking ways to curb fertilizer costs
US ag secretary seeking ways to curb fertilizer costs
Houston, 13 March (Argus) — US Secretary of Agriculture Brook Rollins said she is looking "at every potential avenue" to keep fertilizer costs down ahead of the spring season in response to surging nitrogen costs resulting from the war in the Middle East. "We are very close to having an announcement on some solutions," Rollins said. "Events around the world are impacting our farmers, but as the president has said: we expect that to resolve itself pretty quickly." Prices of nitrogen fertilizers such as urea, urea ammonium nitrate and ammonia have soared over the past two weeks following the outbreak of the war between the US-Israel and Iran. Urea prices at the New Orleans port have jumped nearly $155/st from pre-war levels. Prices continue to climb quickly, with first-half April barges rising from $585/st fob on 6 March to $645/st fob on Friday. Rollins added that most growers have already booked their fertilizer needs for this year and about 25pc have not. Nitrogen buying was pushed to later in the season as farmers and distributors weighed price uncertainty and weak corn margins, a delay that left some buyers exposed when prices climbed after the conflict. Rollins did not outline any specific policy measures under consideration but said she is working with lawmakers to secure additional funding for farmers. The USDA rolled out its latest farm-aid package in December 2025, with payments beginning to be issued at the end of February this year. The White House has demonstrated an ability to shift course on energy matters, recently floating options it had previously dismissed, including a potential crude export ban and a release from the Strategic Petroleum Reserve. Even if the US-Iran conflict concludes, impacts to supply will likely linger through the rest of the fertilizer year, distributors have said. Traders Friday said they were also doubtful and left confused as to what US president Donald Trump's administration could do to bring down fertilizer prices. By Calder Jett and Sneha Kumar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US-Iran war: Latest news
US-Iran war: Latest news
Houston, 13 March (Argus) — A round-up of the latest Argus news stories focusing on the US-Iran conflict. TOP HEADLINES Pentagon not close to reopening Hormuz US oil sector warns against export restrictions Supply shock fears revive China crude buying India snaps up Russian crude as sanctions paused Asian spot naphtha hits 20-year-high premiums LATEST NEWS Crude and oil products Saudi Aramco offers spot March crude loading at Yanbu IEA stock release faces challenge of geography Asian buyers undeterred by firm African values European interest in April-loading Saudi crude firm Iran war sees first Forties cargo sail east this year UAE's Adnoc raises April crude official selling prices EU says Russia oil curbs unaffected by US waiver Iraq-Turkey crude pipeline reopens again Permian WTI premiums continue to rise Petrobras hikes diesel prices by 11.5pc Diesel prices at four-year highs in the Baltic states LSFO hits multi-year highs as Brent breaks $100/bl Natural gas and power Eurogas urges EU to activate flexibility in storage law Dutch Energystock to hold gas storage auction next week War spotlights Brazil reinjections, LNG reliance German Mar spot power could deliver above expectations Petrochemicals Dow revision triples April PE price increase Ineos Styrolution halts new ABS, PS delivery for March Biofuels Shipowners eye bio-blends on bunker rally India unlikely to raise ethanol blend despite oil rally China biofuels rise but HVO discount to ARA widens Coal Coal futures slip as market eyes impact of US-Iran war S Korea coal prices up at 17-month high on firm demand Indonesian supply, war may reshape Vietnam coal imports Atlantic coal prices remain elevated Fertilizers and agriculture Iran-US war freezes ags market activity US senator presses CF on soaring nitrogen prices Australian amsul demand surges on short urea supply India seeks Mercosur vegoil to offset war risks Metals Uncertainty surges but demand does not: Irepas Freight No clear path to pre-war Hormuz return: D'Amico Asia specialist tanker cargoes drop as trade slows Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US oil sector warns against export restrictions
US oil sector warns against export restrictions
Washington, 13 March (Argus) — A spike in gasoline and diesel prices triggered by the US-Israel war with Iran has prompted oil industry officials to preemptively argue against potential calls for the reinstatement of crude export restrictions the US lifted more than a decade ago. Oil industry officials see no indications that President Donald Trump or other policymakers are considering a ban on exports, which they say would cause chaos in global markets and cut off energy supplies to allies when they need it most. In 2015, the industry successfully lobbied the US Congress to lift export limits that had been in place for decades, opening up a US crude export market that averaged 4mn b/d last year. "We don't believe the idea of banning domestic exports is being considered seriously, nor should it be," an oil industry official said. "The US doesn't have a supply problem, and halting exports only hurts our economy." But the recent surge in fuel prices — retail diesel prices rose by nearly $1/USG in the week ending on 9 March, and regular grade gasoline increased by nearly 50¢/USG — has put the industry on the defensive. Banning exports would likely result in an oversupply of light sweet crude in shale producing areas such as the US Gulf coast, where most of the region's refineries are optimized to process sour crude, according to industry leaders. "Pulling American oil off the world market would further tighten global supply and could trigger cascading economic consequences for consumers," American Petroleum Institute chief executive Mike Sommers said in a series of posts on X that attacked "bad policy ideas" of restricting exports. US energy secretary Chris Wright said during an interview on CNN on Thursday there was "no discussion" in the administration on banning oil exports. Trump, who has spent his second term focused on achieving "energy dominance", the same day said the ramp-up in oil prices would result in a financial benefit to the US. "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money," Trump wrote on his social media platform. But the administration's approach on a separate energy policy lever has already shifted. As recently as last week, administration officials said they were not considering the release of crude from the US Strategic Petroleum Reserve (SPR). That stance changed as sustained Iranian attacks on ships near the strait of Hormuz drove up oil prices. Trump on Wednesday ordered the release of 172mn bl of crude from the SPR, the second-largest release since the reserve was created. Reimposing a ban on crude exports could create a "short-run bonanza" for US refineries that specialize in processing light sweet crude, which they could buy at a discount, economists at the US Federal Reserve Bank said in a research report in 2022. But those dynamics would not last because lower prices would lead shale producers to cut output, according to the report, and domestic fuel prices would be unchanged as long as refiners could export refined products. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
