Here are the latest global economic developments on Tuesday around 3:00 PM GMT in the context of the Middle East conflict.
Oil hesitates, awaiting more news on the Middle East conflict
Oil prices wavered on Tuesday as investors remained cautious about a lull in the Middle East conflict following new statements from Donald Trump.
Around 2:40 PM GMT (4:40 PM Paris time), the price of a barrel of North Sea Brent crude for May delivery rose by 5.43% to $118.90, as investors favored this contract and gained quicker access to crude.
Consumer confidence in the United States rises again in March
US consumer confidence continued to rise in March, defying market expectations despite growing concerns about the future, particularly regarding inflation due to rising gasoline prices.
The index measuring this confidence, released on Tuesday by the Conference Board, increased by nearly one point to 91.8, marking a second consecutive month of growth.
Eurozone inflation jumps to 2.5% year-on-year in March, driven by energy price surge
Eurozone inflation surged to 2.5% year-on-year in March, up from 1.9% in February, reaching its highest level since January 2025 due to the spike in energy prices linked to the Middle East conflict.
Consumer prices in France also rose by 1.7% year-on-year in March, following a 0.9% increase in February, while in Italy, surging energy prices also pushed inflation up to 1.7% year-on-year.
Maritime supply: Asia “will suffer the most”
Asia is facing the most severe consequences of the conflict and is experiencing a major energy crisis, warned the maritime analysis company Kpler in an exclusive interview with AFP on Tuesday.
Markets cautious
Financial markets held steady on Tuesday due to uncertainty surrounding ongoing strikes in the Middle East, conflicting messages from the US president, oil prices, and inflation in Europe.
In early trading, the Dow Jones rose by 1.12%, the Nasdaq gained 1.43%, and the S&P 500 Index added 1.19%.
The four major European indices still advanced two hours before closing on Tuesday: Frankfurt (+0.96%), Paris (+0.76%), London (+0.82%), and Milan (+1.08%).
However, Asian stock markets ended sharply lower after a volatile session. Tokyo dropped by 1.58%, and Seoul plunged by 4.3%.
Iranian pharmaceutical company targeted by American-Israeli strikes
Israeli-American strikes hit on Tuesday a site belonging to one of Iran’s largest pharmaceutical companies, which produces cancer drugs and anesthetics, as announced by the Iranian government.
Indonesia: Government announces fuel price freeze
Indonesia announced on Tuesday a freeze on fuel prices despite growing budget pressures linked to the conflict and supply difficulties.
China expresses “gratitude” after three vessels pass through the Strait of Hormuz
Beijing stated on Tuesday that three Chinese vessels recently crossed the Strait of Hormuz and expressed “gratitude” to the parties involved without specifying them.
Drone attack on Kuwaiti tanker in Dubai, no injuries or oil spill
A Kuwaiti-flagged tanker was hit by a drone strike near the port of Dubai, causing a fire but no injuries or oil leaks, according to Emirati authorities.
Ziegler France transport company placed in judicial liquidation, around 1,500 employees affected
The Ziegler France transport company and one of its subsidiaries, employing approximately 1,500 workers combined, were placed under judicial liquidation by the commercial court of Lille Metropole in Tourcoing on Tuesday.
The court’s decision was met with jeers from employees, some shouting “dirty thieves” and “murderers.” Two other subsidiaries of Ziegler France, with 110 employees according to the CGT, were granted an extension of their observation period until April 28 to consider potential takeover offers.
