Qatar LNG outage could last up to five years. China, India, South Korea, Pakistan among most exposed as global gas markets tighten.
The rise in ETFs came as Brent crude moderated to USD 107 per barrel after surging to USD 119.13 a barrel in the previous session.
Missile strikes cut Qatar LNG capacity by 17%, causing $20 billion annual loss, QatarEnergy says.
Hormuz disruption squeezes LPG supply to India, triggers shift to kerosene, coal and biomass.
Saudi officials see oil prices crossing $180 if Iran war disruption continues till late April.
Gold slid as much as 6%, on track for its longest losing streak since 2023
Israel attacked Iran's South Pars gas field, but the U.S. and Qatar were not involved, President Donald Trump said late on Wednesday
Fuel prices surge across 95 countries after Iran conflict, with spikes up to 68%. India holds steady for now amid global fuel shock.
The faster rise in medium-term yields compared with long-term ones has squeezed the gap between them this month, bear-flattening the bond curve.
While bullion has been weighed down in recent weeks over concerns that rates will stay steady, gold is still up more than 10% this year.
The Fed is widely expected to hold rates steady for a second straight meeting when it announces its policy decision later in the day.
LPG Rates On March 18, 2026: While the government maintains that there is no shortage of LPG, LNG, and PNG in the country, the panic buying trend and long wait for LPG cylinders persist.
LPG cylinder rate today March 17: The Ministry of Petroleum and Natural Gas has made biometric Aadhaar-based e-KYC compulsory for all domestic LPG users to streamline subsidy transfers and curb misuse amid the West Asia crisis.
The supercycle hypothesis in natural gas and copper due to AI is a dodgy one at best
Global energy markets have been pitched into turmoil by the US-Israeli war against Iran, which erupted late last month.
OMCs halt fuel credit to petrol pumps amid Hormuz disruption, forcing advance payments and raising concerns for demand and bulk buyers.
The outage comes during a volatile period for metals as the war in Iran disrupts flows of industrial metals, including aluminum and zinc, and clouds the outlook for longer-term usage
The spike follows higher global oil prices amid the ongoing war in the Middle East. The discount on Russia’s crude shipped to Indian ports narrowed to $4.80 a barrel versus the global benchmark
In its daily situation update, authorities said oil marketing companies have not reported any supply shortages at petrol pumps or LPG distributorships
Crude benchmark Brent rallied 11% last week, hitting a high of $119.50 a barrel — back toward levels seen after Russia’s invasion of Ukraine — before closing just above $103.
Looking ahead, markets will focus on the upcoming policy decision from the Federal Reserve, where rates are widely expected to remain unchanged but updated economic projections will be closely watched.
A combination of stronger dollar and higher inflationary environment in turn leading to probable rise in interest rates by the US Federal Reserve are hindrances for gold prices moving higher, despite the geo-political risk arising out of the war.
Spot gold was up 0.2% at $5,087.61 per ounce, as of 0927 GMT, but was set for a 1.7% weekly drop. U.S. gold futures for April delivery fell 0.16% to $5,092.60
Deliveries of physical gold to and from Dubai - a major hub supplying Switzerland, Hong Kong and India - have been affected since the start of the US–Israeli war on Iran on February 28
The West Asia conflict has disrupted nearly 30% of India’s total gas supply, prompting the government to implement a priority allocation framework