Copper Prices Fall from $14,527.50 to $12,147/Tonne as West Asia Conflict Impacts Global Demand & Supply Chain

Global Refinery Attacks Spike Sulphur Prices Above $1,000/Tonne; Threatens India's Phosphatic Fertiliser Supply

The energy crisis has shifted from crude oil supply to refined products. Attacks on refineries in Russia and West Asia have caused sulphur prices to skyrocket from $200 to $1,000/tonne, severely affecting India's ability to manufacture phosphatic fertilizers. This distinct crisis poses a long-term threat to India's food security and fertiliser imports even as the country enjoys surplus refining capacity.

US Diesel Export Ban Proposal: Global Supply Crisis & Impact on India's Net Exporter Status

A US proposal to restrict diesel exports, supported by President Trump, threatens to remove the single largest source (20%) of globally traded diesel from the market. For India, a net diesel exporter, this could mean higher export margins for refineries like RIL, though higher export taxes and domestic demand will limit gains.

BRICS Summit 2026: Incubator Network, Startup Fund, Supply Chain Framework on Agenda

As PM Modi hosts the BRICS Leaders' Summit (Sept 12-13, 2026) with 32 countries/agencies, key initiatives like the BRICS Incubator Network, Startup Innovation Fund, and Logistics Supply-Chain Cooperation Framework are set for finalization. This marks a significant step in BRICS economic integration, especially relevant for supply chain resilience amid Strait of Hormuz disruptions.

India's LPG Imports from US Hit 67% as West Asia Supply Falls 85% Amid Hormuz Crisis

India's LPG imports from the US have surged to 67% of total, a massive shift from the earlier 10% target. This diversification comes as imports from West Asia dropped 85% between February and June 2026, highlighting the strategic importance of reducing reliance on the Strait of Hormuz. For UPSC/Banking students, this is a key case study in energy security, geopolitical risk, and trade diversification.

IMF: Global Economy Weathered Strait of Hormuz Oil Shock via AI Investment Boom, Reserves Drawdown

IMF MD Kristalina Georgieva states the global economy has weathered the oil shock from the Strait of Hormuz closure 'better than feared' due to strategic reserve drawdowns and an AI-driven investment boom. However, risks remain tilted to the downside with rising bond yields, stalled disinflation, and the threat of renewed energy price spikes as winter approaches.

PM Modi at SCO Summit: West Asia Crisis Threatens Global Energy, Trade, Supply Chains

PM Modi at the SCO Summit in Bishkek warned that the West Asia crisis (US-Israeli attacks on Iran) shows regional conflicts have global repercussions on energy, trade, and supply chains, disproportionately affecting the Global South. He emphasized dialogue and diplomacy over war, and called for unified action against terrorism without double standards. The summit also addressed connectivity, people-to-people ties, and India's SCO vision.

EU CBAM: Carbon Border Tax on Steel Imports to Cost India €190/Tonne from Feb 2027

The EU has implemented the Carbon Border Adjustment Mechanism (CBAM), a carbon tax on imports of steel, aluminium, cement, fertilisers, hydrogen, and electricity. For India, this is primarily a steel tax—$5.4 billion of its $6.3 billion CBAM-exposed exports to the EU in 2024 were iron and steel. With Indian steel emitting 2.54 tonnes of CO2 per tonne (vs. world avg. 1.9), the tax could cut exports by 24%, and BRICS has formally opposed it as protectionist in the New Delhi Declaration.

PM Modi Chairs 4th CCS Meet on West Asia Crisis: Supply Chain, Seafarers Safety, Fertiliser Stock Reviewed

This 4th special Cabinet Committee on Security (CCS) meeting signals India's proactive stance on securing energy and fertiliser supply chains amid multiple conflicts near the Strait of Hormuz, Red Sea, Black Sea, and Gulf of Aden. For exam aspirants, it links to energy security, geopolitics, and institutional mechanisms of the CCS. Prelims can test composition of CCS and number of meetings; Mains can explore India's strategy for supply chain resilience.