Because of greater exposure to disruptions in the Middle East, such as high natural gas prices, businesses and consumers outside the U.S. are being hit harder by the war in Iran. Source: washingtonpost.com

In normal times, the Federal Reserve would more or less ignore an oil price shock like the one we’re in now. Source: cnn.com

Nicholas Smith of CLSA discusses why he is confident the Bank of Japan will raise interest rates in April, how higher energy prices factor into rate decisions, and he expects from Japanese Prime Minister Sanae Takaichi’s visit to Washington. Source: cnbc.com

Also in this newsletter: DHL Express Europe looks on the bright side Source: ft.com

Inflation and its consequences for growth is a growing concern for countries where memories of the 2022 energy crisis are fresh. Source: nytimes.com

Vessel with 730,000 barrels of crude set to reach Cuba on 23 March, according to maritime data, after Donald Trump said he expects to have ‘honour of taking’ country Source: theguardian.com