1. Oil prices drop over 13% after US postpones military plans against Iran: Global crude oil prices fell over 13% on March 23 after President Donald Trump announced a temporary suspension of military plans targeting Iranian power plants and energy infrastructure. At 6:08 pm (Vietnam time), Brent lost around $17, or 15%, settling at $96 per barrel. Meanwhile, the West Texas Intermediate (WTI) dropped $13, or about 13.5%, to $85.28 per barrel.

2. Gold prices in Asia erase all gains since early 2026: On the morning of March 23, gold prices plummeted over 3% on Asian markets, wiping out nearly all gains made since early 2026 as the conflict in the Middle East entered its fourth week. By 11:17 am (Vietnam time) on March 23, the spot gold price had fallen 3.3% to $4,345.45 per ounce.

3. IEA to consult Asian and European governments on releasing new oil reserves: The International Energy Agency (IEA) will consult Asian and European governments on the release of new oil reserves “if necessary” due to conflicts in the Middle East, announced the executive director, Fatih Birol, on his global tour in Australia.

4. Iran considers imposing passage fees in the Strait of Hormuz: Reports suggest that the Iranian government plans to impose passage fees of up to $2 million on certain tankers crossing the Strait of Hormuz, raising concerns about the impact on global oil and gas prices.

5. China implements temporary fuel price controls for the first time since 2013: China announced it would cap fuel price increases to mitigate the impact of rising oil prices due to the Middle East conflict, marking the first temporary control measures under the current fuel pricing mechanism since 2013.

6. Bitcoin hits two-week low amid Middle East tensions: Bitcoin fluctuated around its lowest point in two weeks on March 23, following a steep drop in Asian markets due to escalating tensions in the Middle East.

7. China pledges to continue economic opening-up: Premier Li Qiang stated at the 2026 Chinese Development Forum in Beijing that China is committed to promoting greater market openness, importing high-quality foreign products, and cooperating to foster balanced trade development.

8. EU to temporarily apply FTA with Mercosur from May 1: The European Union announced it would officially and temporarily implement the free trade agreement with Mercosur from May 1, 2026, despite awaiting a final court decision on the agreement’s legality.

9. UBS: Energy prices may remain high for a long time: UBS CEO Sergio Ermotti believes energy prices will stay elevated as investors assess the significant impact of the Middle East conflict on the global economy.