Fertilisers, energy, metals and agricultural raw materials, freight and trade policy — what moved, and what it means for cargo and counterparties. How these notes are made.
Brazil enacts Profert law: $190m in tax credits and BNDES financing plus a domestic-content floor to grow local fertiliser production.
WTI and Brent jump as US-Iran military escalation intensifies, with both crude benchmarks up around $5 since hostilities resumed.
WTI and Brent surge over 2% after US strikes on Iranian assets near Strait of Hormuz and Iranian retaliation against US bases in Jordan.
CF Industries starts construction on its Louisiana blue ammonia JV after Q2 profit nearly doubled to $727 million, backed by Mitsui, JERA and Linde.
India will keep paying importers 3,500 rupees/tonne on DAP through the Rabi season as landed costs stay above $900/t, shielding buyers from losses.
Profertil's H1 2026 urea revenue rose 30% to $250m as the Iran conflict pushed nitrogen prices higher across Latin America.
Over half of traded sulfur transits Hormuz; Russia's export ban adds strain, threatening phosphate fertiliser production worldwide.
Strait of Hormuz restrictions have driven oil prices and major oil companies' profits sharply higher in H1, a trend likely to persist.
Urea prices dropped 3.5% in a single session to $386/t as China releases export quotas and Hormuz Strait tensions ease, reversing April's rally above $500.
Hormuz blockage pushes tankers around Africa, fueling a surge in Somali piracy with three tankers hijacked since April 2026.