
The U.S. Federal Reserve and the European Central Bank head into this week’s policy meetings in a far more uncertain environment than they faced just two weeks ago. The Fed meets on March 17-18, and the ECB on March 18-19, just after the Middle East war pushed oil prices above US$100 a barrel and forced markets to rethink the expected path of interest rates. Even so, neither institution is expected to change borrowing costs at these meetings.

The 98th Academy Awards crowned One Battle after Another as the night’s dominant winner, taking six Oscars including best picture, best director, best adapted screenplay, best supporting actor for Sean Penn, best film editing and the new award for casting. The ceremony was held Sunday in Los Angeles with Conan O’Brien as host.

Oil prices moved back above US$100 a barrel on Monday as the conflict involving the United States, Israel and Iran intensified and shipping disruption in the Strait of Hormuz hit one of the world’s most critical energy chokepoints. Brent crude rose to US$105.15 a barrel and U.S. West Texas Intermediate climbed to US$100.32 in early Asian trading, according to market data.

Just about every nation is home to anglers who like to venture out more locally to spend a day by the waterways. Increasingly, however, those anglers and newcomers are hoping to place themselves in new surroundings or take on new challenges in the form of exotic fish around the world.

Suspected Uruguayan drug trafficker Sebastián Marset was captured on Friday in Santa Cruz de la Sierra, Bolivia, in an operation that ends one of the Southern Cone’s longest and most visible manhunts. Paraguayan authorities confirmed the arrest and said Marset had been secured after a raid carried out by Bolivian forces.

Iran is shifting a key part of the war to the sea, where its conventional naval power is far weaker than that of the United States but where it still retains enough tools to disrupt global energy traffic. In the Strait of Hormuz, a corridor that carries roughly a fifth of the world’s oil, attacks on merchant shipping, the threat of mines and the use of fast boats and coastal missiles have raised the cost and complexity of any escort operation.

The United States has temporarily authorized the sale of Russian oil and petroleum products already loaded on tankers, in a limited easing of sanctions adopted as global energy prices rise because of the Middle East war. The measure was announced by the Treasury Department and will remain in force until April 11.

The war involving Iran, Israel and the United States entered a broader regional phase on Thursday, with fresh Iranian attacks on energy infrastructure, shipping routes and military positions across Gulf states, while Israel responded with a new wave of strikes on Iranian territory. The escalation again tightened pressure on the Strait of Hormuz and pushed oil prices back above $100 a barrel.

U.S. President Donald Trump has authorized the release of 172 million barrels of crude from the Strategic Petroleum Reserve as part of a coordinated action with the International Energy Agency, in a bid to contain rising fuel prices after market disruption caused by the war with Iran. The Department of Energy said deliveries will begin next week and will take about 120 days to complete.

José Antonio Kast will be sworn in as Chile’s president on Wednesday with a pledge to lead an “emergency government” focused on security, the economy and migration control, as he seeks to turn his electoral mandate into early, visible action. His team has drafted a first 90-day roadmap combining administrative measures, regulatory changes and an initial batch of bills meant to show movement from the outset.