IIR's March 31 Market Scorecard Brings You Breaking Geopolitical News

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Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Israel-Hamas ceasefire back on table in new negotiations		The Palestinian militant group Hamas says it supports resuming a ceasefire in the Gaza Strip through a proposal put forward by mediators which would see five more hostages released to Israel in exchange for a 50-day truce. Khalil al-Hayya, the most senior Hamas leader outside Gaza, said the group had approved a draft deal sent by Egyptian and Qatari mediators. Israeli Prime Minister Benjamin Netanyahu's office said it had also received the plan, and submitted a "counter-proposal to the mediators in full coordination with the United States".	BBC	Dominion Energy, U.S. Rig Count: Your Daily Energy News
Trump finds fault with both Putin and Zelenskyy as he tries to push for deal to end war in Ukraine		President Donald Trump lashed out at both Vladimir Putin and Volodymyr Zelenskyy on Sunday, expressing frustration with the Russian and Ukrainian leaders as he struggles to forge a truce to end the war. The Russian leader recently said that Zelenskyy lacks the legitimacy to sign a peace deal and suggested that Ukraine needed external governance. Trump said he would consider adding new sanctions on Russia, which already faces steep financial penalties, and using tariffs to undermine its oil exports.	AP News	Saudi Arabia Aims to Deploy 48 GWh BESS Capacity by 2030
Oil inches up as investors await Trump's actions on Russian oil, Iran		Oil edged up on Monday, with investors cautious after U.S. President Donald Trump threatened to impose secondary tariffs on buyers of Russian oil and warned Iran of possible military action if it did not agree to a deal over its nuclear program. Oil prices dropped earlier in the session before recovering and stabilizing at current levels. "(Trump's) threat on secondary tariffs on Russia and Iranian oil is a factor oil market participants are tracking, although he has indicated he is not planning to introduce them for now," said UBS analyst Giovanni Staunovo. "But, there is a rising risk of larger supply risks down the road."	Reuters	Dallas Fed: Trump Sentiment Souring in Energy Sector
European markets fall as traders await Trump tariffs Japan's Nikkei enters correction as Trump's impending tariffs drive sell-off in Asia markets		European markets traded sharply lower on Monday as global investors braced for U.S. President Donald Trump's trade tariffs to come into force. The sell-off comes ahead of a raft of Trump tariffs set to come into effect on Wednesday, including a 25% levy on "all cars that are not made in the United States." The president is also expected to announce his plan for reciprocal tariffs. The Trump administration has dubbed April 2 - the day when Trump's tariffs come into force and more sectoral levies are expected to be announced - "Liberation Day."	CNBC	Europe's 'Action Plan' to Rescue Steel Industry
Natural Gas News: Could Warmer Weather and Soft Demand Stall Any Bullish Reversal?		Natural gas futures rose 1.85% last week, but short-term fundamentals still point to bearish pressure. A 37 Bcf storage injection exceeded expectations, reinforcing concerns of an early and bearish refill season. Mild U.S. weather continues to suppress residential and commercial gas demand heading into early April. Speculative traders have been pulling back aggressively. Over the past two weeks, long positions have been cut by 58,000 contracts, indicating waning confidence in near-term upside.	FX Empire	Alaska LNG Gets New Majority Owner
Trump's tariffs threaten to escalate a trade war. China wants to talk, but it's ready to fight		As Donald Trump's April 2 "Liberation Day" for announcing "reciprocal" tariffs on America's trading partners approaches, the question in Beijing is whether this will be the moment when its nascent trade war with the US really escalates. Beijing has also been using global uncertainty around Trump's "America First" and trade policy to pitch itself as a champion of the global economy Both sides have a strong interest, ultimately, in cutting a deal. But the question is how to get to the negotiating table -- and whether they can reach an agreement when they are there.	CNN	India's ONGC to Invest $11.5 Billion in Renewable Energy by 2030
BP, Shell, and Exxon Signal One Thing: Oil Isn't Going Anywhere		BP, Shell, Exxon, and Chevron are boosting fossil fuel investments after disappointing returns on green energy ventures. BP is increasing oil and gas spending by 25% and Shell is prioritizing LNG growth. Despite this return to business as usual-which the U.S. supermajors never departed from-some commentators continue to argue that the days of the oil and gas industry are numbered. Despite mounting evidence to the contrary, arguments are being put forward that the energy transition is "unstoppable", that it is successfully displacing oil and gas, and that the traditional energy business is doomed, despite the right short-term outlook. In this context, "short term" actually refers to at least two decades. In truth, the fact that Exxon, Chevron, and the rest of the big U.S. oil and gas players have been consistently outperforming their European peers is evidence enough that the above arguments are questionable, to put it mildly	OilPrice	More U.S. Manufacturers Turn to Onsite Power Generation
Week 03/24/25 - 03/31/25		April Fools & Liberation Day beckon; however, the jury is still cloistered debating on the long term verdict of an escalating Trade War. Will it bring Global Partners to the proverbial negotiating table or further strain-to-break global supply chains, thereby upending a global order one has been familiar with these last few decades? Meanwhile it seems Russia and Ukraine are further from a truce; whereas, Israel and Gaza might find themselves resuming their cease fire. Mr. Oil Market is extremely nervous on all the fundamental news; especially as the teetering Economic jenga-like Markets have several major players scrambling for the exits. What is certain remains uncertainty as the world prepares for a topsy-turvy week of fools and liberators.
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

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