WS #3340

The data dump confirms a critical escalation in the Strait of Hormuz crisis, with Iran's IRGC prohibiting all shipping to and from ports of allies and supporters of Israel and the U.S., as reported by Reuters citing Iranian media (ID 312125637). This aligns with previous context and is corroborated by UK Foreign Secretary Yvette Cooper's statement at the G7 meeting, where she accused Iran of holding the global economy hostage (ID 312125786). The closure threatens 20% of global oil shipments, directly impacting energy markets. Oil prices are already reacting, with Brent crude approaching $110 per barrel (ID 312125889), and backwardation in the oil market indicates short-term supply fears (ID 312125818). In response, Japan has decided to increase coal-fired power generation for one year to save LNG, signaling a temporary retreat from decarbonization policies due to supply risks (ID 312125873, 312125867). This move could pressure renewable energy sectors while benefiting coal-related stocks. Concurrently, India and Vietnam are cutting fuel taxes to mitigate rising prices (ID 312125889), highlighting inflationary pressures. The U.S. has extended its deadline for potential strikes on Iranian energy infrastructure to April 6, as talks continue (ID 312125787), but uncertainty remains high, keeping markets on edge. In corporate news, 2CRSI reported exceptional first-half results, with revenue multiplied by 9.8 and net profit rising, leading to upgraded targets exceeding €400 million (ID 312125835), which could boost its stock. Other items, such as local news, sports, and non-financial updates, constitute noise with minimal immediate market impact.