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.

The Bangladesh Jewellers Association (BAJUS) has announced another reduction in gold prices ahead of Eid. In a notice issued on Thursday, March 19, 2026, the association lowered the price of 22-carat gold by 7,640 taka per bhori, setting the new rate at 264,625 taka. The revised prices took effect from 10 a.m. the same day. BAJUS stated that the adjustment was made due to a decline in the local market price of pure gold.

According to the new pricing, 21-carat gold now costs 250,368 taka per bhori, 18-carat gold 214,618 taka, and traditional gold 174,785 taka. The last price adjustment occurred on March 14, when BAJUS reduced the price by 2,683 taka per bhori. So far this year, gold prices in Bangladesh have been adjusted 44 times, with 26 increases and 18 decreases. In 2025, the market saw 93 adjustments, including 64 increases and 29 reductions.

The latest price cut reflects continued volatility in the domestic gold market as BAJUS responds to fluctuations in pure gold prices.

Tourist destinations across Bangladesh are gearing up for a surge of visitors during the upcoming Eid holidays. From the hills of Rangamati to the beaches of Cox’s Bazar and the tea gardens of Sylhet, resorts and hotels are reporting high booking rates. The Rangamati Tourism Holiday Complex has already booked 80 percent of its rooms for March 22–28, while Cox’s Bazar expects over one million visitors. In Sylhet, 60–70 percent of hotel and resort rooms are already reserved as tourists plan to enjoy the region’s waterfalls, hills, and tea estates.

Tourism operators are decorating sites and expanding services to welcome travelers. In Rangamati, special Eid meals and cultural foods will be offered, while in Cox’s Bazar, popular spots such as Inani, Himchari, and Marine Drive are being prepared for heavy crowds. Authorities in Sylhet have strengthened security with tourist police and local administration support.

Additionally, the government is launching the Carnival Cruise from Shimulia to Ilisha on March 19, offering a new river tourism experience with modern facilities and entertainment, aimed at boosting domestic tourism.

Fuel shortages continued across Dhaka on Wednesday, with long queues forming at many petrol pumps despite the government’s withdrawal of the rationing system and assurances that supply would normalize. Field visits to areas including Khilkhet, Airport, Uttara, Mohakhali, and Moghbazar showed that nearly half of the filling stations had suspended operations, while others faced heavy demand and long waiting times. Many drivers reported spending hours searching for octane, with some returning home empty-handed.

Petrol pump owners said fuel was being prioritized for long-distance buses ahead of Eid, leaving private vehicle owners with limited supply. The Bangladesh Petroleum Dealers, Agents, and Petrol Pump Owners Association blamed poor coordination between the Bangladesh Petroleum Corporation (BPC) and the ministry for the ongoing disruptions. BPC officials, however, denied any shortage, attributing the problem to panic buying triggered by misinformation and the ongoing Middle East conflict.

The government had earlier imposed and then lifted fuel rationing due to global instability. Despite official claims of sufficient reserves, the situation on the ground remained strained, with consumers facing significant inconvenience.

Ahead of Eid, Dhaka’s markets are witnessing heavy crowds as consumers rush to buy essentials like semai, sugar, meat, and spices. Field visits show that prices of polao rice, edible oil, chicken, beef, and several spices have increased, while onion, vegetables, and fruits have become cheaper. Traders report that semai and sugar prices remain mostly stable, with sugar selling at Tk 100–105 per kg and local sugar at Tk 140.

According to the Trading Corporation of Bangladesh (TCB), sugar prices are lower than last year, but soybean oil, palm oil, lentils, cloves, and broiler chicken have become costlier. Broiler chicken now sells for Tk 220–230 per kg, up from Tk 170–180 a week earlier, while beef prices have risen to Tk 800–850 per kg. In contrast, egg prices have fallen to Tk 90–100 per dozen, and vegetable prices have dropped due to reduced demand as many residents leave the city for Eid.

Retailers also report a shortage of bottled soybean oil, with limited supply forcing customers to buy larger bottles. Fish prices have increased by Tk 20–30 per kg amid lower supply before Eid.

Oil analysts are increasingly warning that crude prices could surge toward $200 a barrel as the conflict involving the United States, Israel, and Iran disrupts global energy flows. Since the February 28 attacks on Iran, Brent crude has climbed above $100 and reached nearly $120 by March 9. An Israeli strike on Iran’s South Pars gasfield on March 18 and subsequent Iranian attacks on regional energy facilities have further tightened supply. With the Strait of Hormuz effectively closed, only limited shipping continues, and emergency stockpile releases have failed to offset a daily shortfall estimated at 10 million barrels.

Experts told Al Jazeera that the duration of the strait’s closure will determine how high prices climb. Some Middle Eastern crude benchmarks have already exceeded $150, and Iran has warned that $200 oil is possible. The International Monetary Fund estimates that sustained price increases would raise global inflation and slow growth. While some analysts see $200 as plausible, others argue that rising production from countries such as the US and Brazil, along with alternative pipelines, could moderate prices.

If the disruption persists, analysts caution that oil above $150 would heavily strain the global economy, affecting inflation, employment, and industrial supply chains.

Oil prices surged more than 5 percent on Wednesday following an Israeli strike on Iran’s South Pars gasfield, intensifying the ongoing United States-Israeli war on Iran. Brent crude rose to $108.66 a barrel, while US West Texas Intermediate crude climbed to $98.65, widening the price gap between the two benchmarks to its largest since May 2019. Iranian state media reported that facilities linked to the South Pars field, the world’s largest gasfield off Bushehr province, were attacked.

In response, Iran’s Revolutionary Guard threatened to target oil and gas infrastructure in Qatar, Saudi Arabia, and the United Arab Emirates, raising fears of further energy supply disruptions. Later, Qatar reported a fire at its Ras Laffan gas facility following an Iranian missile strike, though authorities said it was contained. The conflict has disrupted oil and gas exports across the Middle East, halting most shipments through the Strait of Hormuz, which handles 20 percent of global oil and LNG supplies.

The Trump administration responded by issuing a 60-day waiver of the Jones Act to ease domestic fuel transport and authorizing certain transactions involving Venezuela’s PDVSA. Meanwhile, Iraq resumed oil exports after reaching an agreement with the Kurdistan Regional Government.

Asian stock markets fell sharply on Thursday following coordinated attacks on natural gas facilities in Qatar, Iran, and the United Arab Emirates, which deepened turmoil in global energy supplies. Japan’s Nikkei 225 and South Korea’s KOSPI dropped nearly 3 percent, while Brent crude futures surged more than 4 percent to above $112 a barrel, the highest in over a week. The attacks came amid the effective closure of the Strait of Hormuz and ongoing disruptions to Gulf oil and gas exports.

Qatar reported significant damage to its main LNG export facility at Ras Laffan Industrial City after Iranian missile strikes, while its state-run QatarEnergy confirmed fires and further damage at several other sites. The UAE suspended operations at its Habshan gas facility and Bab oilfield after intercepting Iranian missiles, and Saudi Arabia said it thwarted drone and missile attacks on its own energy infrastructure. The escalation followed Iran’s pledge to retaliate for Israeli strikes on its South Pars gasfield.

Analysts warned that even limited physical damage could prolong supply disruptions. The conflict, which began with US-Israeli strikes on Iran on February 28, has already driven oil prices up more than 50 percent.

Global oil prices rose sharply after Iranian media reported an attack on a facility at one of the world’s largest natural gas fields. On Wednesday, Brent crude oil climbed to $108.60 per barrel, marking a five percent increase compared to Tuesday’s level. The report also noted that gas prices in the United Kingdom rose by nearly six percent following the news.

The incident has drawn renewed attention to energy market volatility linked to geopolitical tensions in the Middle East. The Iranian report did not specify the extent of the damage or identify the perpetrators of the attack. The price surge reflects market sensitivity to potential disruptions in global energy supply.

The situation underscores ongoing instability in the region’s energy infrastructure, which continues to influence global oil and gas markets amid heightened uncertainty.

Food, Agriculture, Fisheries and Livestock Minister Amin-ur Rashid stated that Bangladesh has adequate food reserves to meet national demand and that the ongoing war will not impact the country’s food supply. He made the remarks on Wednesday, March 18, at the inauguration of a food distribution program held at Shimpur High School field in Cumilla Adarsha Sadar upazila.

The minister said the current BNP-led government is fulfilling its pre-election promises, unlike previous administrations. He highlighted initiatives such as the distribution of family cards and upcoming farmer cards, which will begin on the first day of the Bengali New Year in 11 districts. Plans are also underway to introduce agricultural insurance to compensate farmers for crop losses due to floods or droughts, and the government has waived agricultural loans up to 10,000 taka.

Amin-ur Rashid emphasized strengthening the agriculture-based economy, ensuring fair prices for farmers, and establishing mini cold storages to prevent seasonal price drops. Each beneficiary under the food distribution program received 30 kilograms of rice.

The United Nations World Food Programme (WFP) has warned that global hunger could reach record levels in 2026 if the ongoing conflict in the Middle East continues. The agency estimates that more than 45 million additional people could face severe food insecurity, adding to the current 318 million already struggling worldwide. Rising oil prices above 100 dollars per barrel and disruptions to shipping routes have intensified the crisis.

According to the WFP, the situation mirrors the global food shock seen during the 2022 Ukraine war. Even though the conflict is not directly affecting major food-producing regions, higher fuel costs are driving up transportation, fertilizer, and agricultural expenses, pushing food prices higher. A WFP official warned that those already vulnerable will suffer the most if humanitarian aid remains insufficient.

The near-closure of the Strait of Hormuz and increased risks in the Red Sea have disrupted maritime trade, further raising the prices of oil, fertilizer, and food. Sub-Saharan Africa and parts of Asia are identified as the most at risk, with food insecurity projected to rise by up to 24 percent in some regions.

Five additional fuel-laden ships anchored at Chattogram Port between Tuesday and Wednesday morning, despite the closure of the Hormuz Strait due to conflict in the Middle East. Three of the ships began unloading oil at the Dolphin Jetty, while two remained at the outer anchorage. Since the strait’s closure on March 3, a total of 23 fuel and gas vessels have arrived in 14 days, with 18 already unloaded and departed. The Bangladesh Petroleum Corporation (BPC) confirmed more shipments are scheduled this month.

Naval and Coast Guard forces have increased security around tankers and depots, deploying patrols in the Karnaphuli River and nearby areas. The latest arrivals include one LNG carrier from Australia and two high-sulfur fuel oil tankers from Singapore. BPC officials said the government is securing new supply sources and has signed deals with Saudi Arabia for diesel and gasoline shipments expected by March 27.

According to BPC, current supply levels remain stable, and earlier fuel rationing at pumps has ended as demand and distribution normalized.

A global energy crisis has erupted as the war in the Middle East disrupts oil supplies, prompting Asian nations to rush for Russian crude. On March 13, the United States temporarily eased sanctions on Russian oil and petroleum products for 30 days, allowing trade of previously stranded shipments. This move has triggered intense competition among countries such as India and China to secure Russian oil reserves.

India has doubled its Russian oil imports to 1.8 million barrels per day to safeguard energy security, though experts warn it cannot fully replace the 2.6 million barrels previously sourced from the Middle East. China’s state-owned firms, including Sinopec and PetroChina, have resumed talks with suppliers to restart purchases halted since November. Southeast Asian nations like the Philippines, Thailand, and Indonesia are also showing new interest in Russian oil despite earlier caution over U.S. sanctions.

Analysts caution that the U.S. waiver is temporary, leaving uncertainty about long-term supply stability. Experts note that while Russian oil may ease short-term shortages, it cannot fully offset the Middle Eastern deficit, suggesting continued competition in Asia’s energy markets.