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Oil Price Today (March 17): Crude oil gains 2%, at $103 as Strait of Hormuz tensions linger. Experts weigh in
European nations have declined to deploy warships to the Strait of Hormuz, even as US President Donald Trump warned that NATO could face “a very bad future” if member countries do not step in to help reopen the crucial shipping route.
Crude oil price on March 17
Brent crude futures rose $2.48, or 2.5%, to $102.69 per barrel at 0058 GMT, while U.S. West Texas Intermediate (WTI) crude gained $2.42, or 2.6%, to $95.92 per barrel.The Strait of Hormuz, a key chokepoint that handles about 20% of global oil and liquefied natural gas trade, has been largely disrupted by the US-Israel war on Iran, which has now entered its third week. The disruption has heightened fears of supply shortages, rising energy costs and higher inflation.
Several U.S. allies also pushed back against Donald Trump’s request on Monday to send warships to escort shipping through the Strait of Hormuz. The move drew criticism from the U.S. president, who accused Western partners of ingratitude despite decades of American support.
The effective closure of the strait has forced the United Arab Emirates, the third-largest producer in the Organization of the Petroleum Exporting Countries, to shut in production. As a result, its output has fallen by more than half, two sources told Reuters.
Meanwhile, the head of the International Energy Agency said member countries could release more oil to help ease rising energy costs, in addition to the 400 million barrels they have already agreed to draw from strategic reserves.
Where are prices headed?
Experts say oil prices could climb further if geopolitical tensions persist. Global crude prices may rise to $120 per barrel in the near term and could even reach $150 per barrel if the war continues for more than a month and tensions in West Asia remain elevated, according to Kayanat Chainwala, Assistant Vice President at Kotak Securities.
She added that crude prices below $110 per barrel can largely be managed within India’s current tax framework, giving the government some flexibility to absorb the impact.
However, if prices move into the $110 to $125 per barrel range, fiscal flexibility would start to tighten and earnings divergence across companies in the oil and gas sector could widen, says Elara Securities.
If crude prices climb above $125 per barrel, broader stress could emerge in the system. Earnings of oil marketing companies may weaken sharply, LPG subsidy burdens could rise significantly, and risks to LNG throughput may increase. In such a situation, the chances of policy intervention would also grow, it added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Easter holidaymakers switching from Dubai to Spain as flights fill up
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Growth Plans, Asset Optimization, and Future Investment Strategies
Indonesia’s Danantara, a sovereign investment platform, supports long-term growth by directing capital into key sectors, improving SOE performance, and aiming for $50 billion annual returns.
Indonesia’s Sovereign Investment Platform: Danantara
Indonesia’s sovereign wealth fund, Danantara, has completed its first year, marking a significant step in the country’s long-term economic planning. Positioned at the core of Indonesia’s strategy, Danantara aims to direct national capital toward critical sectors and large-scale development projects, moving beyond merely holding state enterprise assets. This shift reflects Indonesia’s commitment to fostering sustainable economic growth through strategic investments.
Strategic Goals and Sector Oversight
The platform manages a diverse portfolio across key industries such as banking, energy, telecommunications, infrastructure, and mining. Its role is to facilitate targeted investments that support industrial expansion and improve infrastructure. Early indicators show that Danantara is beginning to align state assets with national economic priorities, laying a foundation for broader economic stability and growth.
Asset Management and Future Ambitions
Danantara has set ambitious financial targets, aiming to generate around US$50 billion annually with a 5% return on assets. While comprehensive performance data remains limited due to ongoing restructuring, initial reports highlight a substantial 300% improvement in the return on assets of SOEs under its management. These early results suggest that governance reforms are effectively bolstering asset performance.
Read the original article : Indonesia’s Danantara After Year One: Growth Targets, Asset Consolidation, and Investment Implications
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FDA traces E. coli outbreak to RAW Farm raw cheddar cheese
Check out what’s clicking on FoxBusiness.com.
Federal regulators announced Sunday that an E. coli outbreak that infected at least seven people in three states have been traced to a raw cheddar cheese product.
Many of the affected individuals are children, ages 3 or younger, across California, Texas and Florida, according to the U.S. Food and Drug Administration (FDA). Of the seven reported cases, five were in California, one in Florida and another in Texas.
“The FDA and CDC, in collaboration with state and local partners, are investigating a multistate outbreak of E. coli O157:H7 infections,” the FDA said. “As of March 14, 2026, a total of 7 confirmed infections have been reported from three states.”
Officials said investigators have traced the outbreak to California producer RAW FARM, a family-owned company recognized as the nation’s largest producer of raw dairy products.
RECALL EXPANDS TO NEARLY 1M FRIGIDAIRE MINIFRIDGES SOLD AT TARGET OVER FIRE HAZARDS

The FDA issued a warning urging consumers of a raw cheddar cheese product by RAW FARM linked to E. coli. (FDA / Fox News)
The FDA noted that RAW FARM declined to issue a voluntary recall of its shredded raw cheddar cheese product despite the agency’s recommendation.
In response, the dairy farm denied the allegations on its social media page Monday, claiming that the health agency made “false allegations” against the brand and that no tests have confirmed a positive match for the E. coli strain.
“We disagree 100% with the allegations made by the FDA and CDC,” the company said. “All of our products have been CONFIRMED to be negative for all harmful bacteria, including Ecoli 0157-H7. FDA has found NO Raw Farm products to be tested positive for Ecoli in the marketplace.”
“Inaccurate statements made by the FDA and CDC linking our brand to an outbreak is egregious and extreme harassment towards our brand,” it added.
E. COLI OUTBREAK IN FOUR STATES SPARKS RECALL IN RAW MILK PRODUCT: CDC

A package of raw cheddar cheese made from grass-grazed cows is displayed in this undated photo. (FDA / Fox News)
The FDA confirmed that no RAW FARM–brand cheddar cheese products have yet tested positive for E. coli, but said state partners have begun collecting product samples.
They added that investigators were able to track the infections using epidemiological data, a scientific method that analyzes the distribution, patterns, and causes of health-related events.
“Epidemiologic evidence indicates that RAW FARM-brand raw cheddar cheese products made by RAW FARM, LLC are the likely source of this outbreak,” the agency said.
Of the three individuals who were interviewed, all reported eating RAW FARM–brand cheese, federal regulators said, adding that local officials are working to gather additional information for the other four cases.

Shredded cheese is displayed in a white bowl in an undated photo. (iStock / iStock)
At least two patients have been hospitalized, but no deaths have been reported in the outbreak, health officials added.
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Despite the company’s denials, the FDA released a notice urging consumers and retailers to exercise caution with the cheese and to sanitize any surfaces to prevent cross-contamination.
The E. coli strain involved can cause serious, potentially life-threatening conditions, including severe kidney failure, stomach cramps, fever, nausea, vomiting, and bloody diarrhea, the FDA said. Illness typically begins anywhere from a few days up to nine days after consuming contaminated food.
FOX Business reached out to RAW FARM for additional comment.
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