ROHM, TOSHIBA, MITSUBISHI ELECTRIC TO ANNOUNCE THE START OF THE TALKS AS EARLY AS FRIDAY, NIKKEI SAYS

The White House indicated the Iran conflict could conclude before Donald Trump meets Xi Jinping in Beijing in mid-May. Press secretary Karoline Leavitt said the war, which began Feb. 28, was expected to last four to six weeks, adding its end is not a precondition for the planned summit.

Energy: 1. According to Interfax news agency: Russia may reimpose a temporary ban on gasoline exports. 2. Venezuelan Acting President Rodriguez: US crude oil imports from Venezuela have jumped to their highest level since 2019. 3. The Indian cabinet approved new Nationally Determined Contribution (NDC) targets, aiming to increase the share of non-fossil fuel power generation capacity to 60% by 2035. 4. Sources: The sanctioned oil tanker "Aurora" is carrying Iranian liquefied petroleum gas (LPG) bound for Mangalore port in India; Indian shipping officials: unaware of any upcoming shipments of Iranian LPG. 5. Fitch: The conflict with Iran is enhancing the potential of battery storage systems and broader electrification. 6. Two sources said that the ports of Primorsk and Ust-Luga on Russia's Baltic coast have suspended loading operations of crude oil and petroleum products following drone attacks. 7. CEO of German energy giant ENBW: Germany will not import any liquefied natural gas (LNG) from the Middle East by 2025; we have signed long-term LNG supply contracts. 8. According to Yonhap News Agency: South Korea's Blue House stated that the import of non-Middle Eastern LNG is progressing smoothly, and the supply is stable and guaranteed until the end of this year. 9. Three Iraqi energy officials stated that Iraqi oil production has further plummeted due to full storage tanks and blocked exports through the Strait of Hormuz caused by conflict. 10. Venezuela's oil production reached 1.1 million barrels per day in March. 11. The US government lifted restrictions on the sale of E15 blended gasoline containing 15% ethanol. 12. Japan began releasing oil reserves. 13. Malaysia plans to reduce fuel subsidy quotas. 14. Thai fuel prices surged by as much as 22% overnight. Precious Metals and Mining: 1. US Interior Secretary Bergham: During my visit to Venezuela, I brought back $100 million worth of physical gold. 2. Putin signed a decree banning the export of gold bars exceeding 100 grams from Russia and limiting the amount of cash rubles that can be carried into the Eurasian Economic Union. 3. The LionGlobal Physical Gold ETF officially began trading on the Singapore Exchange (SGX). 4. Due to the impact of Tropical Cyclone Nerrell, ports in Australia's Pilbara region were closed, raising concerns about disruptions to Australian iron ore supplies. Agriculture: 1. USDA Quarterly Grain Stocks Report Preview: US soybean stocks are expected to reach 2.063 billion bushels, the highest level for this time of year in six years. 2. US soybean planting area is expected to expand to 85.549 million acres in 2026. 3. Euronext: Due to technical issues, weekly trader positioning reports for wheat, canola, and corn will be suspended until further notice. Middle East Situation: 1. White House Press Secretary Levitt: (When asked when the first oil tanker would pass through the Strait of Hormuz) There is no definite news yet. 2. Iran seeks to impose tolls on ships passing through the Strait of Hormuz. 3. Iranian Foreign Minister Araqchi: There have been no negotiations with the United States. 4. Trump told his aides he hopes to end the war with Iran as soon as possible. Other: 1. BASF issued its fifth price increase notice, with basic amines potentially rising by up to 30%.