02/04/2026 – Trump to the nation: <>. Crude oil prices recover 7% – Read more news

GAS & POWER: Yet another U.S. administration shakeup is pushing commodity prices this morning to even yesterday's sales. In his address to the nation, President Trump said that Iran will be hit hard, and that regaining control of the Strait of Hormuz will be an issue for those nations that truly need it –no more than the United States. In this regard, the coalition recently formed, led by the United Kingdom and involving 35 countries, is expected to meet in the next few hours, with the aim of presenting a concrete plan for reopening the naval passage.

Recent market volatility has led to the opening of spreads between Europe and Asia in May and June, leading Indo-Pacific countries to return to competitiveness for cargo from the United States. Demand for the coming months will be driven in particular by Southeast Asia, where the heat is becoming particularly intense ahead of the start of the rainy season.