The Eurozone Manufacturing Purchasing Managers' Index (PMI) reached a high not seen in 45 months, hitting 51.4 in March, an increase from 50.8 in February, as reported by S&P Global in a preliminary estimate. Analysts surveyed by Trading Economics anticipated an average reading of 49.4. The 50-point level indicates whether business activity is expanding or contracting. According to a report...

Several Vietnamese airlines are planning to temporarily stop some domestic flights because of fuel shortages and increasing costs caused by the conflict in the Middle East, according to a report by Bloomberg. The Civil Aviation Authority of Vietnam stated that beginning on April 1st, the country's state-owned airline, Vietnam Airlines, will decrease the number of domestic flights, with...

The military campaign targeting Iran has stalled significant contract discussions within the US oil and gas sector. The Financial Times (FT) reports that the fighting has led to oil price fluctuations, complicating asset valuations and prompting companies to halt negotiations. Contracting activity has declined following a robust beginning to the year, as deal volume hit $45 billion—a peak not...

The International Energy Agency (IEA) has allowed the possibility of release of extra oil reserves to stabilize market conditions because of the conflict in the Middle East. IEA Director Fatih Birol mentioned that the agency is in discussions with governments in Asia and Europe regarding this matter. "If needed, we will certainly proceed with that. We are examining the conditions, evaluating,...

According to the European Central Bank's updated projection, the eurozone economy is set to expand by 0.9% in 2026, 1.3% in 2027, and 1.4% in 2028. In December, the ECB projected growth rates of 1.2%, 1.4%, and 1.4% respectively. Consumer prices are projected to rise by 2.6% in 2026, a revision from the earlier estimate of 1.9%. The projection for 2027 was adjusted downward to 2% from 1.8%, and...

According to Mark Zandi, the chief economist at Moody's, a global credit rating agency, the US economy will find it difficult to prevent a recession if oil prices stay high for just a few more weeks. He wrote on social media that "a recession is once again a major concern." The US economic outlook will keep getting worse as long as the Strait of Hormuz stays closed to oil tankers, even though...

According to Bloomberg, the Bahrain-based company Aluminum Bahrain BSC, also known as Alba, has started a gradual decrease in production at the largest aluminum smelting plant in the world. The company has started the process of closing three production lines, which collectively represent 19% of its total annual production capacity of 1.6 million tons. The company stated that the suspension will...

Major German economic research organizations have revised their predictions for GDP growth in 2026, pointing to the adverse effects caused by increasing energy costs linked to the conflict in the Middle East. New predictions from the Munich Institute for Economic Research (Ifo) and the Kiel Institute for the World Economy suggest that German GDP is expected to grow by 0.8% this year. Before, both...

The amount of hydrocarbons on tankers in the Persian Gulf rose by 1.5 million tons in the last 24 hours, totaling 24.2 million tons. Out of this total, 18.7 million tons were oil, 3.3 million tons were light petroleum products, 1.2 million tons were heavy petroleum products, and 1 million tons were LNG, as indicated by a monitoring report from Euler Analytical Technologies JSC using ship tracking...