Economy

• Monday, March 9th 2026 - 10:59 UTC

  Oil rises above US$100 a barrel as Middle East war and Hormuz disruption hit supply

  

  Oil prices climbed above US$100 a barrel on Sunday in futures trading, reaching their highest levels since 2022 as the war in the Middle East, the effective closure of the Strait of Hormuz and fresh production cuts among Gulf producers tightened supply expectations. Reuters reported Brent rose as high as US$111.04 a barrel while West Texas Intermediate (WTI) touched US$111.24 in early trading. AP later put Brent at US$107.97 and WTI at US$106.22, both more than 16% above the previous close.

• Friday, March 6th 2026 - 15:41 UTC

  Oil posts its biggest weekly jump since 2020 as the Iran war disrupts Hormuz

  

  Oil became this week’s clearest barometer of the Middle East crisis, with Brent hovering near US$90 a barrel and WTI around US$87.5, putting both contracts on track for their biggest weekly advance since 2020. The same factor sits behind the surge: the de facto blockage of the Strait of Hormuz, through which roughly one-fifth of the world’s oil normally passes.

• Wednesday, March 4th 2026 - 22:50 UTC

  Brazil completes its legislative process and ratifies the EU–Mercosur deal

  

  Brazil’s Congress on Wednesday ratified the trade agreement between Mercosur and the European Union, completing the legislative step in the South American bloc’s largest economy. The Senate approved the treaty unanimously, after the lower house cleared the text last week, according to local reporting and wire-service coverage.

• Wednesday, March 4th 2026 - 13:27 UTC

  Uruguay cuts policy rate to 5.75% after external shock, with inflation still below target

  

  Uruguay’s Central Bank cut its benchmark policy rate by 75 basis points to 5.75%, from 6.5%, in a unanimous decision and the seventh consecutive reduction, as it weighed the market impact of the renewed Middle East conflict and a rebound in the U.S. dollar.

• Wednesday, March 4th 2026 - 13:04 UTC

  Argentina hits oil output record on Vaca Muerta as Brent tops $80 on Iran war

  

  Argentina posted its highest monthly crude output on official record in January, at a time when global energy markets are again under strain from the Iran–Israel–US conflict and renewed pressure on key supply routes.

• Wednesday, March 4th 2026 - 10:50 UTC

  FIH Group sells Portsmouth Harbor Ferry Company for £11.6m.

  

  The Portsmouth Harbor Ferry Company (PHFC), which takes passengers between Gosport and Portsea, was bought by the parent company of Collins River Enterprises – trading as Uber Boat by Thames Clippers – from Falkland Islands Holdings Group.

• Tuesday, March 3rd 2026 - 13:06 UTC

  Uruguay activates Mercosur–Singapore FTA on a bilateral basis, opening preferential access to Southeast Asia

  

  The Free Trade Agreement (FTA) between Mercosur and Singapore entered into force on a bilateral basis between Uruguay and the city-state on 1 March 2026, after both sides completed domestic procedures and deposited their instruments of ratification, according to a joint statement.

• Tuesday, March 3rd 2026 - 02:57 UTC

  Paraguay central bank cuts rates as inflation runs below target

  

  Paraguay’s central bank chief Carlos Carvallo says the country is dealing with a “nice problem”: inflation is converging to the official goal “from below,” an unusual pattern in the region that has prompted policymakers to start trimming interest rates to prevent price growth from staying too low.

• Tuesday, March 3rd 2026 - 02:42 UTC

  Haddad says Iran conflict should not immediately hit Brazil’s economy

  

  Brazil’s Finance Minister Fernando Haddad said on Monday that U.S. and Israeli attacks against Iran should not have an immediate impact on Brazil’s macroeconomic indicators, while cautioning that the conflict’s trajectory remains hard to predict and is being monitored “carefully” by his ministry.

• Monday, March 2nd 2026 - 06:11 UTC

  Orsi’s first year in power: unemployment and crime fall, wages edge up, growth moderate in Uruguay

  

  Uruguay’s President Yamandú Orsi is set to address the General Assembly on Monday to deliver a first-year account of his administration and outline priorities for the year ahead. Parliament scheduled the session for 18:30 at the Legislative Palace in Montevideo.