In early April 2026, the geopolitical tensions surrounding the Strait of Hormuz remain critical, with the US implementing a naval blockade against Iranian ports following failed negotiations.
This action has escalated oil prices, with Brent and WTI reaching USD 102/bbl and USD 104.55/bbl respectively, while ongoing conflicts and rising energy costs are fueling significant uncertainty in global markets.
Concurrently, aluminium supply is threatened due to Guinea's curb on bauxite exports, alongside disruptions in the Middle East affecting major Gulf producers, which could lead to an aluminium shortage as demand weakens amid a slowing global economy.
Furthermore, European LNG imports from Russia have surged ahead of planned phase-out bans, raising fears of a supply crisis as Asian markets react to instability with decreasing shipments and higher prices.