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.
Oil nears $110/bbl amid Strait of Hormuz clashes; StanChart flags a market structurally exposed to sudden spikes as Middle East tensions escalate.
Tampa ammonia CFR benchmark declines $80 to $555/t in September, down 33% from May's $825 peak, marking a fourth straight monthly fall.
China to ship 1.2m tonnes of urea to India as Beijing's expanded 5.5m tonne export quota eases global nitrogen tightness.
Sulfur prices top $1,000/t as Hormuz and Russian supply cuts remove two-thirds of traded volumes, pushing up DAP production costs.
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.