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On 23 Mar 2026, IEA chief Fatih Birol warned that the Strait of Hormuz closure has already removed roughly 11 million barrels of oil and 140 billion m³ of gas per day—surpassing both 1970s oil shocks—hours after President Trump threatened to bomb Iran’s power plants unless traffic resumes within 48 hours.
Hours before his 48-hour ultimatum expired, President Trump ordered a five-day suspension of U.S. attacks on Iranian energy infrastructure, citing “in-depth, constructive” talks with Tehran.
On 23 Mar 2026 the European Commission sent its formal “note verbale” to Paraguay, activating provisional application of the EU-Mercosur interim Trade Agreement from 1 May 2026 even though the European Parliament has not yet ratified it.
In Canberra on 23 March 2026, IEA chief Fatih Birol said the US-Israel-Iran war has already knocked 11 million barrels of oil per day off world supply—prompting the agency’s largest-ever 400 million-barrel emergency stock draw and pleas to reopen the Strait of Hormuz.
On 22 Mar 2026 the Civil Aviation Ministry revoked the distance-based fare caps imposed during IndiGo’s December 2025 meltdown, restoring free pricing from 23 Mar while warning carriers against “excessive or unjustified” hikes.
On 21 Mar 2026 United became the first big U.S. carrier to axe roughly 5 % of its Q2–Q3 flight schedule after jet-fuel prices doubled in three weeks, and is now budgeting for crude to peak at $175 and stay above $100 until end-2027.
On 20 Mar 2026 Washington granted a one-month license allowing sanctioned Iranian crude already aboard ships to be sold worldwide, aiming to blunt a post-war oil-price spike before mid-term elections.
On 20 March 2026 Hungary alone blocked the unanimous consent needed to activate a €90 billion EU macro-loan for Kyiv, reversing the green-light it had given in December and tying the money to the reopening of the Druzhba oil pipeline.
On 21 March 2026 a San-Francisco federal jury found Elon Musk liable under U.S. securities law for two May 2022 tweets that depressed Twitter’s share price during his $44 billion takeover, exposing him to roughly $2.6 billion in damages.
On 21 March 2026, the Treasury’s General License U temporarily suspended Iran oil sanctions for one month, freeing roughly 140 million barrels already loaded on tankers to enter global markets in an emergency bid to pull Brent back from $112 +/bbl amid the Hormuz blockade.
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