March 17, 2026
United States:
US Diesel Tops $5 a Gallon as War Disrupts Supply Chains
US diesel rose above $5 a gallon for the first time since December 2022, the latest sign of surging fuel price pressures menacing the global economy as the war in Iran continues to disrupt energy supplies.
The nationwide average retail price reached $5.044 a gallon on Monday, according to the American Automobile Association, up by more than a third since the conflict began.
Europe:
German Investor Outlook Sinks as Iran War Threatens Recovery
German investor optimism worsened far more than expected as the war in Iran tempers hopes that Europe’s largest economy is on the cusp of a strong revival.
An expectations index by the ZEW institute decreased to -0.5 in March from 58.3 in February. That’s below all estimates in a Bloomberg survey, which had foreseen a reading of 39.2, and is the least since Donald Trump first unveiled his tariffs last April.
Asia:
Japan’s Katayama Says FX Moves Not In Line With Fundamentals
Japan’s finance minister said recent currency moves are not in line with fundamentals, reiterating warnings of possible action by authorities to counter the moves.
“There has been significant volatility across financial markets overall,” Finance Minister Satsuki Katayama told reporters Tuesday. She suggested that currency moves have not been aligned with fundamentals for a while, adding that the deviation appears particularly significant at present.
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