The United States has decided to ease sanctions on Iran’s crude oil and petroleum products for 30 days, according to a statement from the US Treasury Department. The move comes in response to global oil price and supply instability caused by the ongoing Iran-Israel war, Al Jazeera reported. Treasury Secretary Scott Bessent clarified that the temporary authorization applies only to oil shipments already in transit, not to new orders.

Iran, meanwhile, stated that it has been targeting ships linked to the United States and Israel, disrupting oil and gas transport through the Strait of Hormuz. This disruption has contributed to volatility in global energy prices and raised concerns about broader economic impacts. Earlier, Bessent had told Fox Business that the relaxation could allow about 140 million barrels of Iranian oil currently at sea to reach the market.

Following Bessent’s remarks, Iran’s Oil Ministry spokesperson Saman Goddosi said the country has no additional crude oil available for export, either at sea or in storage, suggesting the US statement was intended to encourage potential buyers.

Bangladesh’s foreign currency reserves have strengthened ahead of Eid-ul-Fitr as remittance inflows increased notably over the past two weeks. According to Bangladesh Bank data, as of March 16, 2026, the country’s total reserves stood at 34.22 billion US dollars. Under the IMF’s BPM6 calculation method, the figure amounts to 29.52 billion dollars.

Earlier, on March 3, total reserves were recorded at 35.32 billion dollars, or 30.58 billion dollars under the IMF method. The rise in reserves has been supported by a significant inflow of remittances from expatriates, who sent over 2 billion dollars during the first 14 days of March. Total remittance inflows during this period reached 2.2044 billion dollars, equivalent to about 270 billion taka at an exchange rate of 122 taka per dollar.

The report notes that the increase in remittances has provided a timely boost to the country’s foreign exchange position before the Eid festival, though future flows could be affected if global conflicts persist.

Global oil prices saw a slight decline on Friday, March 20, 2026, following weeks of volatility driven by ongoing geopolitical conflict in the Middle East. The closure of the Hormuz Strait, a key route for about 20 percent of global oil supply, and attacks on energy infrastructure had earlier pushed crude prices above 119 dollars per barrel. Brent crude fell 0.6 percent to 108 dollars per barrel, while U.S. benchmark WTI dropped 1.1 percent to 94.6 dollars.

Goldman Sachs warned that disruptions in energy supply could persist until 2027, keeping Brent prices above 100 dollars for an extended period and possibly surpassing the 2008 record of 147 dollars if conditions worsen. Meanwhile, Qatar’s Ras Laffan gas hub suffered a 17 percent reduction in LNG export capacity after an attack, with recovery expected to take up to five years.

U.S. President Donald Trump assured citizens that the situation would soon stabilize, while Israeli Prime Minister Benjamin Netanyahu said Israel was responding to U.S. calls to limit strikes on energy sites. However, reports of drones and missiles being intercepted over the Middle East suggest the conflict remains active.

US Energy Secretary Chris Wright stated that if sanctions on Iranian oil are lifted, shipments could begin reaching Asian markets within three to four days. He made the remarks in an interview with Fox Business Network, noting that rapid supply resumption could help stabilize global oil prices.

The statement comes amid volatility in global oil markets driven by tensions around the Strait of Hormuz. The United States is reportedly considering various policy options to manage the situation. Earlier, US Treasury Secretary Scott Bessent indicated that sanctions on Iranian oil stored in tankers at sea might soon be lifted.

Experts cited in the report believe that easing sanctions would allow Iranian oil to flow quickly into global markets, potentially increasing supply and reducing price pressure.

Bangladesh has initiated steps to secure a $2 billion loan to meet fuel import expenses for the upcoming summer season, according to a Bloomberg report published on March 20, 2026. The proposed financing includes $1.3 billion under the International Monetary Fund’s ongoing loan program and $700 million expected from the Asian Development Bank. The government aims to finalize the multilateral borrowing by June, though no official details have yet been released.

Economic adviser Dr. Rashed Al Mahmud Titumir confirmed the plan, stating that discussions are underway with donor agencies for comparatively lower interest rates. He noted significant progress in talks with the Asian Development Bank and expressed optimism about securing funds from both ADB and IMF. Economists cited in the report said the loans would help stabilize Bangladesh’s foreign exchange reserves and reduce risks of fuel supply disruptions.

If completed as planned, the financing could provide short-term relief to the country’s energy sector and support economic stability during the high-demand summer months.

China has decided to limit fertilizer exports to protect its domestic market as global supply chains face severe disruption due to the ongoing war involving the United States, Israel, and Iran. According to industry sources cited by Reuters, Beijing banned exports of nitrogen-potassium compound and certain phosphate fertilizers in mid-March 2026. With earlier restrictions on urea and export quotas still in place, only a few types of fertilizers, mainly ammonium sulfate, are currently being exported. Reuters estimated that China’s fertilizer exports have now fallen to between half and three-quarters of last year’s volume, potentially reducing shipments by up to 40 million metric tons.

China, one of the world’s largest fertilizer exporters, sold over 13 billion dollars’ worth of fertilizers last year. The new restrictions come as fertilizer transport through the Strait of Hormuz has nearly halted, affecting about one-third of global shipments. Analysts noted that China tends to restrict exports during global crises to prioritize food security and shield its domestic market from price shocks.

Mobile courts have intensified operations across Bangladesh, including in the capital Dhaka, to prevent overcharging and passenger harassment ahead of Eid-ul-Fitr. According to a press release from the Ministry of Road Transport and Bridges issued on Thursday afternoon, several transport companies were fined and the excess fares collected from passengers were refunded.

The operations covered multiple areas such as Fulbaria, Gulistan, Jatrabari, Dholairpar, Sayedabad, Abdullahpur, Kalyanpur, Gabtoli, Hemayetpur, and Savar in Dhaka, as well as Chattogram, Tangail, Barishal, and Khulna. Fines ranged from 3,000 to 13,000 taka depending on the location and severity of the violations. In some cases, transport counters were penalized for failing to display fare charts. Authorities confirmed that no overcharging was found in certain areas like Khulna’s Rupsha Toll Plaza.

Officials stated that these drives will continue to ensure smooth Eid travel. They also reported that travel conditions across the country remain normal, with passenger pressure gradually decreasing.

Global energy markets have become increasingly unstable following U.S. and Israeli attacks on Iran on February 28, with analysts now warning that oil prices could rise to between 150 and 200 dollars per barrel. Brent crude reached nearly 120 dollars on March 9 and has not fallen below 100 dollars since March 13. Prices rose again after attacks on Iran’s South Pars gas field and retaliatory strikes on energy facilities in Qatar, Saudi Arabia, and the United Arab Emirates.

Analysts identify the Strait of Hormuz as the most critical factor, as nearly one-fifth of the world’s oil supply passes through it. Iran initially declared the strait closed and threatened ships entering the area, severely restricting navigation. Limited passage is currently allowed for vessels from India, Pakistan, Turkey, and China. The International Energy Agency has coordinated a release of 400 million barrels from emergency reserves, but experts say this cannot fully offset a daily shortfall of about 10 million barrels.

Economic research groups warn that oil prices above 150 dollars could strain the global economy, raising inflation and slowing growth. Experts caution that a 200-dollar price level would deliver a major shock across multiple industries.

QatarEnergy CEO Saad Al-Kaabi said that about 17 percent of Qatar’s liquefied natural gas (LNG) production capacity was damaged in a recent Iranian attack. He told Reuters that the affected facilities have significantly reduced the company’s export capacity, and full recovery could take three to five years. Al-Kaabi expressed surprise that such an attack occurred during Ramadan, calling it unexpected from a fellow Muslim nation.

He added that due to the damage to two LNG trains, QatarEnergy might have to declare force majeure on long-term gas supply contracts with Italy, Belgium, South Korea, and China, potentially causing prolonged supply disruptions. The damaged facilities had cost around 26 billion dollars to build.

The report noted that the incident could further increase volatility in the global energy market as Qatar is one of the world’s major LNG exporters.

Global oil markets experienced a sharp rise after a joint US-Israel attack on Iran, pushing Brent crude futures above $115 per barrel early Thursday, March 19, 2026. The escalation followed Iran’s obstruction of shipping through the Strait of Hormuz and retaliatory strikes on oil and gas facilities in four Gulf countries, creating widespread market instability. Gas prices also jumped by nearly 30 percent, according to Al Jazeera.

Vandana Hari, founder of Vanda Insights, told Al Jazeera that Middle Eastern benchmark oils such as Oman and Dubai crude have already exceeded $150 per barrel. She noted that while Brent and West Texas Intermediate have not yet reached that level, $200 per barrel no longer seems distant. Hari added that future price movements depend largely on how long the Strait of Hormuz remains closed.

Analysts warn that prolonged disruption in the Strait could drive energy prices even higher, intensifying global economic pressure if the regional conflict continues.

Wholesale gas prices in the United Kingdom have risen by nearly 140 percent to 171.34 pence per therm (about 2.29 dollars), marking the highest level since January 2023. The sharp increase follows escalating conflict in the Middle East, where Israel launched an airstrike on a petrochemical facility at Iran’s South Pars gas field early Wednesday. The site, one of the world’s largest gas fields, is jointly operated with Qatar.

In retaliation, Iran struck energy infrastructure in several Gulf countries, including Saudi Arabia, Kuwait, and the United Arab Emirates. Iran’s missile attacks also caused fires at parts of Qatar’s Ras Laffan LNG complex, one of the world’s largest liquefied natural gas centers. Analysts say the UK remains heavily dependent on imported energy, particularly from Gulf nations such as Qatar, making it vulnerable to regional instability.

According to Al Jazeera, if the situation continues, global energy prices could rise further, potentially affecting the broader world economy.

The United States may ease restrictions on Iranian oil to stabilize global energy supply following a joint US-Israel attack on Iran. The attack, which targeted Iran’s gas fields and disrupted shipping through the Strait of Hormuz, has significantly affected global oil prices. US Treasury Secretary Scott Basent told Fox Business that the move aims to restore balance in the energy market, according to Al Jazeera.

Basent also said the US could unilaterally release oil from its own reserves to support market stability. Earlier this week, he noted that Iranian oil tankers had already begun leaving the Strait of Hormuz with US awareness, helping to normalize global supply. Further details on Basent’s comments are expected soon.

The developments come amid heightened tensions in the Middle East and concerns that oil prices could rise sharply if disruptions continue.

European natural gas prices rose by up to 35 percent on Thursday following attacks on energy infrastructure in the Gulf region. The benchmark Brent crude price climbed to 112 dollars per barrel, up from 107.38 dollars the previous day. Since the start of the conflict, crude oil prices have increased by more than 48 percent and have not fallen below 100 dollars per barrel since March 13.

In the United Kingdom, gas prices jumped more than 20 percent in the morning and later stood 23 percent higher at 171 pence per therm. Meanwhile, oil traded around 113 dollars per barrel, marking a 5 percent increase. Qatar’s state-owned energy company reported that two Iranian attacks caused significant damage to its main gas hub.

The developments have intensified concerns over global energy supply stability, with markets reacting sharply to the disruptions in the Gulf region.

Passengers on the Dhaka-Tangail highway are resorting to alternative transport such as CNG auto-rickshaws, motorcycles, pickups, and trucks due to increased bus fares. On Thursday afternoon, heavy crowds were seen at Chandra Trimor bus stand in Kaliakoir upazila, where many travelers chose these riskier options to reach their destinations more quickly and affordably.

Drivers and passengers cited multiple reasons for the shift. A CNG driver said their vehicles were operating well despite slightly higher fares, while a bus driver explained that rising fuel costs and road expenses had forced them to charge more. A truck driver noted that passengers boarded trucks on their own when traffic congestion halted vehicles. A motorcycle driver mentioned using branch roads to avoid highway jams.

Nawjor Highway Police Station’s officer-in-charge stated that authorities were trying to maintain normal conditions, but some passengers continued to risk their safety by riding on trucks to save money.

On Thursday, March 19, 2026, a severe shortage of buses was reported at Dhaka’s Mohakhali Bus Terminal as homebound passengers tried to leave the capital ahead of Eid. Long queues formed at ticket counters, but no tickets were available. Passengers said that even when a few buses departed, fares were higher than usual, with Tk 450 tickets being sold for Tk 600. Many people waited for hours in line without success but continued hoping to secure a seat home.

Counter staff denied allegations of overcharging, saying the difficulties were due to a shortage of buses. The situation left travelers frustrated and uncertain about when the disruption would end.

The report also mentioned heavy crowds at train platforms and the cancellation of two launch route permits, indicating widespread transport pressure during the holiday rush.