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Why Global Oil and Gas Disruptions Have Long-Term Economic Impacts

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US House Lawmakers Ask Justice Department to Launch Antitrust Probe on OPEC, Oil Companies

Global energy markets are under pressure again. A new conflict involving the United States, Israel, and Iran has pushed oil prices close to record highs and disrupted one of the world’s most important shipping routes.

Experts warn that this is not just a short-term spike. It could reshape economies for years.

The price of Brent crude oil has surged to around $120 per barrel, reminding many people of past crises. But this time, the situation is different.

The disruption is not just about politics or trade rules—it is about physical supply being cut off.

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The Strait of Hormuz, a narrow waterway where a large share of the world’s oil passes, has seen major slowdowns in tanker traffic. This has reduced the amount of oil and gas reaching global markets.

One energy analyst explained the seriousness of the situation, saying, “This is the largest supply disruption in the history of the global oil market.” That statement captures why experts believe the economic effects could last longer than before.

Why This Crisis Is Different

In past energy shocks, like the 2022 crisis after Russia invaded Ukraine, supply chains adjusted.

Oil and gas were rerouted, and countries released reserves to calm prices. Over time, markets stabilized.

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Today’s disruption is harder to fix. The problem is not just who sells energy—it is how that energy moves. When a key route like the Strait of Hormuz is blocked or limited, there are very few alternatives.

Pipelines that bypass the area can only carry a small portion of the usual supply. Ships also face delays and risks, making transport slower and more expensive.

Even when countries release oil from emergency reserves, it does not solve everything. The oil still needs to be shipped to where it is needed. With fewer tankers available and unsafe routes, delivery becomes a challenge.

How High Energy Prices Affect Everyday Life

When oil and gas prices rise, the effects spread quickly. Businesses that rely on energy—like factories, airlines, and shipping companies—face higher costs. These costs are often passed on to consumers.

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This means higher prices for goods, plane tickets, and even food. Farmers, for example, depend on fuel and fertilizers, both tied to energy markets. When those costs go up, food prices can rise too.

At home, families feel the impact through higher electricity bills and fuel costs. Over time, people may spend less on other things because more of their money goes to energy. This slows down the overall economy.

Industries Under Pressure

Some industries are hit harder than others. Energy-heavy sectors like steel, cement, and chemicals depend on steady and affordable fuel supplies.

When prices stay high, these industries may reduce production or raise prices.

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According to Aljareeza, transportation is also affected. Airlines pay more for fuel, shipping costs increase, and public transport may become more expensive.

While people still need to travel, long-term high prices can lead to fewer trips and changes in habits.

A Chain Reaction in the Global Economy

The longer the disruption lasts, the more serious the impact becomes. Countries that rely heavily on imported energy may struggle the most. Slower production, higher costs, and reduced spending can lead to weaker economic growth.

For energy-producing countries, the situation is also risky. If they cannot export their resources due to blocked routes or damaged infrastructure, they lose income and reliability. This can affect their role in the global market.

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What Happens Next?

Markets may eventually stabilize, but not without consequences. Unlike past crises, this disruption highlights a major weakness: too much of the world’s energy passes through a few critical points.

As one expert noted, “The longer the disruption continues, the longer prices will remain high.”

This means the global economy may face a period of adjustment, with changes in energy use, trade routes, and investment.

In the long run, countries may look for new ways to secure energy—such as building alternative routes, increasing local production, or investing in renewable sources. But these solutions take time.

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Originally published on vcpost.com

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Eamonn Boylan: Tributes pour in for former GMCA and Stockport chief

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Former chief executive of Greater Manchester Combined Authority described as ‘influential leader’ by Andy Burnham

Eamonn Boylan, outgoing chief executive of the Greater Manchester Combined Authority and Transport for Greater Manchester. March 2024

Eamonn Boylan, pictured in 2024(Image: GMCA)

Warm tributes have been paid to Eamonn Boylan, one of the leading figures in Greater Manchester politics for more than four decades, who has died aged 66.

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His death was confirmed today (2 April) by the Greater Manchester Combined Authority (GMCA), where he was chief executive from 2017 to 2024. Mayor Andy Burnham described his passing as a ‘devastating loss’ while paying tribute to the ‘influential’ public servant.

Mr Boylan assumed the top role at the GMCA in 2017, taking responsibility for Greater Manchester Fire and Rescue Service (GMFRS) as well. In 2019, he also assumed control of TfGM and supervised the process of returning buses to public ownership for the first time in 40 years.

His 42-year career included roles in local government across Manchester, Sheffield and London, alongside a stint as Stockport council’s chief executive before assuming leadership at the GMCA. He was appointed an Officer of the Order of the British Empire (OBE) in 2023 for his contribution to local government, reports the Manchester Evening News.

Mr Boylan stood down following the mayoral elections in May 2024. In the wake of his death, a book of condolence has been opened at Manchester Central Library. Mr Burnham said: “This is a devastating loss, and my thoughts today are with Eamonn’s family, friends, and all those who knew him. Eamonn was the public servant’s public servant, and a giant of English devolution. He led from the front but was rarely in the spotlight, taking every opportunity to lift up and empower those around him.

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“At the most crucial moment in Greater Manchester’s devolution journey, he took the foundations laid by past leaders and built it into an effective, efficient machine that continues to deliver. The fact that we are the UK’s fastest-growing city region is a testament to his leadership.

“For the seven years we worked together he was a source of great support, guidance, good humour, and friendship. I will always count myself fortunate to have worked alongside him.”

GMCA group chief executive Caroline Simpson added: “I am so deeply sorry for Eamonn’s family and loved ones, and for all of us that had the privilege of working closely with him through our careers. He was such an influential leader, in Greater Manchester and English devolution, and his impact cannot be overstated.

“But he was also an inspiration to so many people personally; a friend and a mentor whose massive intellect, humility, humour and kindness shone through every day. His dedication and his determination to get things done will leave a lasting legacy here.

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“He will remain an indelible part of the fabric of our city region’s growth and success.”

Councillor Mark Roberts, leader of Stockport council, said: “We are very saddened to hear of the passing of Eamonn Boylan and on behalf of the Council, I would like to offer our deepest sympathies to Eamonn’s family, friends and former colleagues at this very difficult time.

“Stockport is the place it is today because of the strong foundations Eamonn helped to build. His leadership gave our borough confidence, and his legacy can be seen in our town’s physical investment and ambition that carries through to today and the future.

“Eamonn dedicated his life to public service and was held in high regard not just for his professionalism, but for the way he worked with people across the council and across political lines with a focus on always doing the right thing for local communities.

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“On behalf of the Council, I would like to thank Eamonn for his service, his commitment to Stockport and the lasting contribution he made to our borough.”

Manchester council leader Bev Craig said: “I’m shocked and saddened by the loss of Eammon Boylan – a man who loved and contributed immensely to our city.

“Eamonn was a remarkable servant to Manchester and Greater Manchester over his long career and is held in high esteem by everyone who worked with him.

Eamonn Boylan, left, speaks at a 2017 Stockport Economic Breakfast

“After a long history of working in local government, including as Manchester’s deputy chief executive before becoming the inaugural chief executive of the combined authority, he led the transformation of Greater Manchester.

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“When we needed someone to step up as the Council’s interim chief executive in 2024/25 while we recruited for the permanent role, Eammon was the obvious choice and I was delighted when accepted the chance to help our city.

“He leaves an important legacy in the modern, confident Greater Manchester we see today and the gains we’ve made, especially across regeneration and housing. But he also leaves a human legacy, for those colleagues and friends who knew him so well, and like me will sorely miss him.

“Our thoughts are with Maria, his two children, wider family and friends and all who are affected by his loss.”

Tom Stannard, chief executive of Manchester Council, said: “I am deeply saddened at the news of Eamonn’s sudden passing. It has been a privilege to work with Eamonn over the years, both in Manchester and across all my previous years in Greater Manchester including as chief executive of Salford City Council.

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“He has been a mentor, confidante and adviser to me and many colleagues – always a source of great wisdom, advice and humour in the face of challenges, generous with his time and attention, and someone with an unswerving commitment to improving the whole of Greater Manchester for the benefit of its residents.

“Eamonn was an exemplary public servant and someone who has made a lasting positive impact on the area. He was a wonderful colleague and friend to many, myself included. He will rightly be remembered among the best public servants of Greater Manchester’s recent history. My thoughts, deepest condolences and love are with Maria and his family.”

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Pro Tip: Turn by-products into functional ingredients

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Pro Tip: Turn by-products into functional ingredients

Upcycled ingredients can be leveraged to tailor dough rheology, texture and shelf life.

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Mortgage rates rise to 6.46%: Freddie Mac

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Mortgage rates rise to 6.46%: Freddie Mac

Mortgage rates rose this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.46% from last week’s reading of 6.38%. 

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The average rate on a 30-year loan was 6.64% a year ago.

Real estate agent and a couple.

A real estate agent shows prospective homebuyers a new location. (Getty Images)

“With spring homebuying season in full swing, aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes,” said Sam Khater, Freddie Mac’s chief economist.

LOS ANGELES LEADS NATION IN MASSIVE POPULATION EXODUS AS ‘BREAKING POINT’ HITS GOLDEN STATE

The average rate on a 15-year fixed mortgage ticked higher to 5.77% from last week’s reading of 5.75%.

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MIAMI OVERTAKES LOS ANGELES AND NEW YORK AS WORLD’S RISKIEST HOUSING MARKET FOR BUBBLE RISK

Home for sale

Home for sale in Evesham Twp., N.J., Feb. 26, 2023. (Fox News)

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.3% as of Thursday afternoon.

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National Burrito Day 2026 Brings Free Burritos, BOGO Deals at Chipotle, Qdoba, Moe’s and More

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Representation. A burrito.

It’s National Burrito Day on Thursday, April 2, 2026, and hungry fans across the country are celebrating the handheld Mexican favorite with free burritos, buy-one-get-one offers and deep discounts at major chains and smaller spots alike.

Representation. A burrito.
Representation. A burrito.

The unofficial holiday, observed on the first Thursday in April, honors the beloved tortilla-wrapped meal stuffed with rice, beans, meats, cheeses and salsas. This year, restaurants from fast-casual giants to regional favorites are rolling out promotions that could save burrito lovers serious cash — or even land them free meals for a year.

Chipotle Mexican Grill is leading the charge with its popular Burrito Vault game, which wrapped up Wednesday after giving away more than $2 million in prizes to Chipotle Rewards members. Players guessed hourly-changing burrito combinations at UnlockBurritoDay.com for chances to win free burritos for a year, BOGO entrées and double protein rewards. On National Burrito Day itself, the chain is offering free delivery on qualifying orders of $10 or more using code DELIVER through the app or website.

“National Burrito Day is always a fun way for our fans to enjoy even more of what they love,” a Chipotle spokesperson said in a statement. Rewards members who unlocked prizes earlier in the week can redeem them today.

QDOBA is making it easy for its rewards members to score a free burrito or bowl. On April 2, members who purchase any entrée and a drink will receive a free entrée reward (quesadillas excluded). The offer is valid in-store, online and via the app at participating locations. Gold status members get extra time, with redemption possible through April 5. The reward is automatically loaded into accounts on the holiday.

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Moe’s Southwest Grill is offering a straightforward buy-one-get-one-free deal on burritos, bowls or Moe Value Meals. Rewards members can use the promotion online or in the app, while non-members can simply mention the offer in-store at participating locations on April 2. The BOGO applies to the item of equal or lesser value, with taxes and fees not included in the discount. Moe’s is also running a sweepstakes for rewards members to win free burritos for a year.

Bubbakoo’s Burritos is extending its celebration with a BOGO offer for rewards members using promo code BURRITODAY on online or in-app orders April 1-2. El Pollo Loco rewards members can snag a buy-one-get-one-free à la carte burrito on April 2.

Smaller chains and regional players are joining the fun. Pancheros Mexican Grill is giving away 10,000 free burritos by sharing codes on its social media channels (Instagram, Facebook, X and TikTok) on April 2. Loyalty app users can enter the codes to redeem. Baja Fresh is selling $5 chicken Baja burritos in-store at participating locations, with an additional $5 off $20+ coupon for rewards members who make any purchase today.

Tijuana Flats is offering a free “Make It Wet” upgrade — smothering any burrito in queso, red sauce or verde — with promo code SAUCED26 at checkout. Torchy’s Tacos has $5 breakfast burritos available in-store until 2 p.m. at participating spots. Del Taco’s Del Yeah! Rewards members can get a free Classic Burrito with any $3 minimum purchase.

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Tortilla, a growing chain, is giving away 15,000 free burritos starting at 3 p.m. local time, though membership is required. Tocaya rewards members receive a free side of chips and guacamole with any burrito purchase.

Chronic Tacos loyalty members who ordered via the app on April 2 could take advantage of a buy-one-get-one-free burrito. Baker’s Drive-Thru had bean and cheese burritos for 99 cents while supplies lasted.

The deals come as burrito consumption remains strong nationwide. The versatile dish, with roots in Mexican cuisine but popularized in American fast-casual formats, appeals to a wide audience seeking quick, customizable and often portable meals. Industry analysts note that Mexican-inspired chains have benefited from consumers’ desire for value amid fluctuating food prices.

“National Burrito Day taps into that love for bold flavors and customization,” said one food industry observer. “These promotions not only drive traffic but also introduce new customers to rewards programs that keep them coming back.”

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Many offers require signing up for free loyalty programs, a common strategy that builds long-term customer relationships. Signing up for Chipotle Rewards, QDOBA Rewards or Moe’s Rewards takes just minutes via their apps or websites and often unlocks additional perks throughout the year.

For those not near a participating chain, some promotions extend to delivery platforms, though fees may apply outside of free delivery windows. Availability can vary by location, so checking the restaurant’s app, website or calling ahead is recommended.

Burrito enthusiasts shared excitement on social media Thursday morning, with posts showing loaded creations and deal screenshots. “Finally, a holiday that speaks my language — and my stomach,” one user wrote on X.

The origins of National Burrito Day trace back to informal celebrations that grew into a recognized food holiday. While not an official government observance, it has gained traction through restaurant marketing and consumer enthusiasm, much like other food-centric days such as National Taco Day or National Pizza Day.

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This year’s timing on April 2 aligns perfectly with many Americans’ midweek routines, offering a tasty pick-me-up. Whether it’s a classic carne asada burrito, a vegetarian option packed with beans and veggies, or a breakfast version with eggs and chorizo, the day encourages experimentation.

Health-conscious eaters can still participate by opting for bowls instead of tortillas at many chains, or choosing lean proteins and extra vegetables. Chains like Chipotle and QDOBA emphasize fresh ingredients and customizable nutrition information in their apps.

While the deals are generous, experts advise enjoying them in moderation as part of a balanced diet. Burritos can be high in calories and sodium depending on fillings and add-ons like extra cheese, sour cream or guacamole — the latter of which sometimes carries an upcharge.

For families or groups, the BOGO-style offers from Moe’s and others make it economical to share. Office workers might coordinate group orders to maximize free delivery perks.

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As the day progresses, some locations could see long lines or sell out of popular items, so early visits or online ordering may help avoid waits. Digital orders also make it easier to apply rewards and promotions accurately.

Looking beyond today, many chains use National Burrito Day to promote year-round loyalty benefits, including points accumulation, birthday rewards and exclusive early access to new menu items.

Burrito history dates back centuries in Mexico, with the modern American burrito evolving in the Southwest and gaining massive popularity through chains that standardized assembly-line preparation. Today, the U.S. burrito market is part of a broader $50 billion-plus Mexican food segment, with fast-casual concepts driving much of the growth.

Consumers can extend the celebration by trying homemade versions. Basic recipes call for large flour tortillas, refried beans, Spanish rice, grilled meats or vegetables, cheese, salsa and toppings. Online tutorials abound for everything from copycat Chipotle recipes to authentic street-style burritos.

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For those missing out on today’s deals, similar promotions often appear around other holidays or through apps like Uber Eats, DoorDash and Grubhub, which sometimes run their own burrito specials.

In summary, National Burrito Day 2026 delivers plenty of ways to enjoy a free or discounted burrito without breaking the bank. From Chipotle’s high-stakes game and free delivery to QDOBA’s straightforward free entrée deal and Moe’s BOGO, there’s something for nearly every burrito fan.

Whether you’re a longtime loyalist or trying a new spot, today is the perfect excuse to wrap up something delicious. Just remember to join the rewards programs in advance where required, verify local participation and savor every bite.

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MAHA’s impact on the snack category

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MAHA’s impact on the snack category

Speakers at SNAC International conference said it could be significant.

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UK inflation expectations rise as Iran war dims interest rate cut hopes

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Supermarkets and food manufacturers in England will be expected to help tackle rising obesity rates by making it easier for customers to choose healthier food, under a new government initiative announced today.

Inflation expectations among UK businesses have climbed to their highest level in more than two years, as the economic fallout from the Middle East conflict reshapes outlooks for prices, interest rates and growth.

New data from the Bank of England shows firms now expect inflation to reach 3.5 per cent over the next 12 months, up from 3 per cent previously and marking the highest year-ahead forecast since late 2023.

The shift reflects a sharp change in sentiment following the surge in energy prices triggered by the Iran conflict, with oil and gas costs rising significantly amid disruption to global supply routes.

Alongside higher inflation expectations, businesses are now anticipating far fewer interest rate cuts than previously forecast.

Before the conflict, financial markets had expected multiple reductions in borrowing costs over the next year. However, firms now believe there could be just one rate cut in the next 12 months, and only two by 2029, as persistent inflation limits the scope for monetary easing.

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Brent crude has remained above $100 a barrel, reinforcing concerns that energy-driven inflation could prove more durable than previously thought.

The rise in inflation expectations is already feeding into business behaviour. Companies now expect to increase their prices by an average of 3.7 per cent over the coming year, up from 3.4 per cent in February.

Economists warn that the impact will extend beyond energy bills, with higher costs likely to filter through into food, transport and other essential goods.

Industry groups have already flagged the potential for grocery prices to rise by as much as 9 per cent by the end of the year, while household energy bills are expected to increase sharply when the next Ofgem price cap takes effect.

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The data also suggests a shift in labour market expectations. Businesses now anticipate a slight contraction in employment over the coming year, reversing earlier projections for growth.

At the same time, expected wage growth has edged down slightly to 3.4 per cent, indicating that while inflation pressures are rising, firms may be less willing or able to increase pay.

This combination of higher prices and softer wage growth raises the risk of a squeeze on real incomes, with implications for consumer spending and overall economic activity.

The latest figures come against a backdrop of already fragile economic growth. The UK economy expanded by just 0.1 per cent in the final quarter of last year, and recent forecasts from the OECD suggest the country could face the weakest growth and highest inflation among G7 economies as a result of the conflict.

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Rising borrowing costs are also adding pressure, with government bond yields remaining elevated compared with pre-conflict levels, reflecting investor concerns about inflation and fiscal constraints.

In addition to energy costs, companies are contending with a range of domestic pressures, including increases in the minimum wage and higher business rates.

These factors are compounding the impact of global shocks, creating a challenging environment for firms already operating with tight margins.

Elliott Jordan-Doak of Pantheon Macroeconomics said the surge in energy prices is already influencing business decisions.

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“Higher costs are weighing on hiring plans and leading to increased price-setting intentions,” he said, although he noted that medium-term expectations remain relatively stable for now.

The rise in inflation expectations signals a turning point in the UK’s economic outlook, with the prospect of sustained price pressures reshaping both business strategy and monetary policy.

For the Bank of England, the challenge will be balancing the need to control inflation against the risk of further weakening growth.

For businesses and households, the implications are more immediate: higher costs, tighter financial conditions and a more uncertain economic environment in the months ahead.

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Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Delta Air Q1 Earnings Preview: A High Bar To Fly Over, Shares Fairly Valued (NYSE:DAL)

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Delta Air Q1 Earnings Preview: A High Bar To Fly Over, Shares Fairly Valued (NYSE:DAL)

This article was written by

Providing timely and quick to the punch analysis of earnings and macro-related events across various sectors, with a focus on retail and real estate. I am a licensed CPA.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Gold Prices Slide 2.73% to $4,654.86 as Stronger Dollar and Rising Yields Pressure Safe-Haven Metal

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Gold prices hit a record high on a rush into safe havens and helped by the weaker dollar

Gold prices fell sharply Friday, with spot gold trading at $4,654.86 per ounce, down $130.53 or 2.73%, as a firmer U.S. dollar and rising Treasury yields weighed on the non-yielding precious metal amid shifting market sentiment.

Gold prices hit a record high on a rush into safe havens and helped by the weaker dollar
AFP

The decline came after gold touched elevated levels earlier in the week, reflecting ongoing volatility in the yellow metal following a dramatic rally in 2025 and early 2026 that pushed prices above $5,000 and even toward $5,600 at peaks. Friday’s move extended recent pressure, with April gold futures also trading lower in mid-morning sessions on the COMEX.

Analysts attributed the drop primarily to a strengthening dollar and higher bond yields, which increase the opportunity cost of holding gold. The U.S. Dollar Index gained ground as traders adjusted expectations for Federal Reserve policy, while 10-year Treasury yields climbed on persistent inflation concerns tied to geopolitical tensions and energy prices.

The pullback occurs against a backdrop of significant gains for gold over the longer term. The metal surged in 2025 amid central bank buying, ETF inflows and uncertainty from trade policies and global risks. In early 2026, prices hit record highs before experiencing sharp corrections, including a steep drop in March that some described as the worst monthly performance in years.

Despite Friday’s losses, many Wall Street firms remain bullish on gold’s outlook. J.P. Morgan forecasts prices could reach $6,300 per ounce by the end of 2026, driven by sustained central bank demand and investor diversification away from traditional assets. Goldman Sachs sees potential for $5,400, while other banks like UBS and Deutsche Bank project targets around $6,000 or higher in various scenarios.

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Central banks continued to accumulate gold as a reserve asset, a trend that has supported prices even during periods of consolidation. Demand from emerging markets and efforts to reduce reliance on the U.S. dollar in international reserves have played key roles. ETF holdings also showed resilience, with inflows reflecting gold’s appeal as portfolio insurance.

Geopolitical factors added layers of complexity. Ongoing tensions in the Middle East, including developments involving Iran, initially boosted gold as a safe haven but later contributed to volatility as markets priced in potential inflation from higher oil prices alongside stronger dollar dynamics.

“Gold’s recent correction reflects mechanical selling and profit-taking after an extraordinary run, but the structural drivers remain intact,” one commodities strategist noted. Rising oil prices from regional uncertainties have fueled inflation fears, which could eventually support gold if they prompt looser monetary policy down the line.

Technical levels showed gold finding some support near $4,600, with resistance around recent highs above $4,700. Futures contracts for April delivery reflected similar moves, with open interest and volume indicating active trader participation.

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For investors, the current dip raises questions about whether it represents a buying opportunity or signals further consolidation. Historical patterns suggest gold often rebounds after sharp sell-offs when fundamental demand reasserts itself. However, short-term headwinds from a resilient U.S. economy and delayed rate cuts could keep pressure on prices in the near term.

Silver prices moved in tandem, dropping more sharply in percentage terms on Friday, underscoring broad precious metals weakness. Platinum and palladium showed mixed but generally softer performance.

Retail investors have increasingly turned to gold through exchange-traded funds, physical bars and coins, and mining stocks. The SPDR Gold Shares ETF and similar vehicles saw flows that mirrored broader sentiment shifts.

Economists point to several macroeconomic drivers. A stronger dollar makes gold more expensive for foreign buyers, reducing demand. Higher real yields similarly diminish appeal compared to interest-bearing assets. Yet persistent fiscal deficits, debt levels and long-term diversification trends by institutions continue to underpin the bull case.

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In Asia, where physical gold demand is traditionally strong for jewelry and investment, buyers have shown selectivity amid price swings. Chinese and Indian markets, major consumers, have navigated volatility with a mix of bargain hunting and caution.

Mining companies face their own dynamics. Higher prices in recent years boosted profitability, but cost pressures from energy and labor could intensify if volatility persists. Major producers have hedged positions or expanded output selectively.

Looking ahead, key events include upcoming economic data releases that could influence Fed expectations. Any signs of cooling inflation or labor market softening might revive rate-cut hopes and support gold. Conversely, hotter-than-expected readings could reinforce dollar strength.

Analysts emphasize that gold’s role as a hedge against uncertainty has not diminished. In an environment of elevated geopolitical risks, potential policy shifts and questions over reserve currencies, the metal retains strategic importance for central banks and sophisticated investors.

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Some observers warn of leveraged positions unwinding during the recent rout, amplifying moves beyond pure fundamentals. Such liquidations can create oversold conditions that set the stage for rebounds.

For everyday investors, financial advisors often recommend allocating a modest portion of portfolios — typically 5-10% — to gold as diversification rather than a directional bet. Physical ownership, ETFs or futures each carry different considerations around storage, liquidity and costs.

The broader commodity complex showed varied responses Friday, with energy markets reacting to supply concerns while industrial metals faced demand worries from global growth outlooks.

Gold’s journey to current levels marks a transformation from its traditional trading range. What was once seen as a relic has become a mainstream asset class, with institutional adoption growing through vehicles that provide exposure without physical handling.

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Despite the Friday decline, year-to-date performance for gold in 2026 remains positive for many holders who bought at lower levels. The metal’s ability to deliver returns uncorrelated with stocks and bonds continues to attract attention in diversified strategies.

Market participants will watch next week’s calendar closely for any fresh catalysts. Earnings from major financial firms, inflation metrics and comments from policymakers could sway sentiment.

In jewelry and industrial applications, gold demand has held steady in certain segments, though high prices have prompted some substitution or delayed purchases.

As trading continues, volatility is likely to remain elevated. Traders using technical analysis are monitoring moving averages and support zones for clues on the next leg.

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Overall, while near-term pressures from currency and yield dynamics have driven gold lower to around $4,654.86, the consensus among major banks points to higher prices by year-end 2026. Central bank accumulation averaging hundreds of tonnes quarterly, combined with investor flows and potential monetary easing, forms the foundation for optimism.

Investors considering entry points may view the current consolidation as a pause in a longer-term uptrend rather than a reversal. However, prudence dictates monitoring dollar strength and yield movements closely.

Gold has proven resilient through multiple cycles, often rewarding patient holders during periods of economic or geopolitical stress. Friday’s 2.73% drop serves as a reminder of the metal’s volatility even as its strategic value endures.

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Exclusive: Bristol’s Bottle Yard Studios releases financial information for first time

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The West of England’s biggest film and TV studios is actually a money-generating service

The entrance of The Bottle Yard Studio's new facility in Bristol

The entrance of The Bottle Yard Studio’s TBY2 facility in Bristol(Image: Tony Gilbert)

The West of England’s largest film and television studios has released information about its finances for the first time, Business Live can exclusively reveal. The Bristol City Council-owned Bottle Yard, in Hengrove, provided the details following a Freedom of Information (FOI) request.

The studios, which have hosted big-name productions such as popular BBC comedy-drama Boarders and Sky Original thriller Inheritance, came under fire last year for refusing to confirm whether it makes a profit for council taxpayers. Previous requests by journalists, local councillors and members of the public for any information on the Bottle Yard’s finances have repeatedly been rejected on the grounds the accounts are “commercially sensitive”.

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Business Live logged an FOI on January 27 and Bristol City Council took 64 days to reply, despite regulations requiring public bodies to respond within 20 days. It comes months after the local authority lost a legal battle with the Information Commissioner’s Office over failures to clear an FOI backlog built up under the last administration.

In its response to the FOI, the council told Business Live that over the last financial year (2025-2026) the Bottle Yard’s budget was -£177,625. However, the negative figure does not mean the Bottle Yard is making a loss – in fact it is the opposite. It is understood that Bristol City Council uses an accounting approach that targets zero to balance the books over the year, with money generated by the studios used to reach that target.

Business Live understands the Bottle Yard is an income-generating service – meaning it makes money for the council – and was targeting a surplus of £177,625 for the year. It is understood the studios achieved a surplus for 2025-2026, but it is not yet known whether that surplus is at the full target. As Business Live understands, this is because the council has not yet completed its year-end outturn calculations.

The council also provided details of the Bottle Yard’s budget for the new financial year, which was set on Wednesday, April 1. According to the FOI, the budget for 2026-2027 is -£81,740. Although this year’s income budget is lower, it is understood the Bottle Yard is fully funded for the next 12 months and is expected to make a surplus of £81,000.

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The release of the information comes just months after Bristol City Council declined a Freedom of Information request by investigative journalist and council transparency campaigner Andrew Lynch for any financial figures.

The costume department at Bottle Yard

The costume department at Bottle Yard(Image: Hannah Baker)

Bristol City Council refused a number of other information requests logged by Business Live, however, including how much Katherine Nash, head of studios at the Bottle Yard, gets paid. Nash, who was appointed in September, is responsible for all the commercial aspects of the studios’ two sites and 11 stages, including sales, operations and partnerships.

The local authority told Business Live it could not provide details of her earnings, including bonuses, as it fell under personal data as defined by the Data Protection Act – and because this was information about another individual they were not able to share it. It also refused to disclose who was considering buying the studios last year. In July, the sale of the Bottle Yard to a private and unknown buyer collapsed, costing taxpayers some £430,000.

The council told Business Live it could not reveal the details, claiming it was part of a “confidential process”. When asked if the council would put the studios back up for sale, it told Business Live a decision had not been made yet but the studios remain open for business.

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Last year, Bristol City Council leader Tony Dyer said the council’s aim was “to secure a sustainable future for the studios and the opportunity to grow into its huge potential.”

“Those aims remain the same as does our determination to ensure that one of our city’s most successful regeneration projects continues an upward trajectory to deliver more jobs and more investment for Bristol,” he said at the time.

According to Bristol Film Office – a division of Bristol City Council – films and television shows produced in Bristol over 2024-2025 boosted the local economy by more than £46m. Some 29 major productions were assisted by the Bottle Yard Studios over the period, including three feature films and 26 high-end television productions, with a total of 736 filming days supported in the studio and on location.

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Acuity Inc. (AYI) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Acuity Inc. (AYI) Q2 2026 Earnings Call April 2, 2026 8:00 AM EDT

Company Participants

Charlotte McLaughlin – Vice President of Investor Relations
Neil Ashe – Chairman, President & CEO
Karen Holcom – Senior VP & CFO

Conference Call Participants

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Joseph O’Dea – Wells Fargo Securities, LLC, Research Division
Christopher Snyder – Morgan Stanley, Research Division
Ryan Merkel – William Blair & Company L.L.C., Research Division
Christopher Glynn – Oppenheimer & Co. Inc., Research Division
Tyler Bisset – Goldman Sachs Group, Inc., Research Division
Jeffrey Sprague – Vertical Research Partners, LLC
Robert Schultz – Robert W. Baird & Co. Incorporated, Research Division

Presentation

Operator

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Good morning, and welcome to the Acuity Fiscal 2026 Second Quarter Earnings Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to Charlotte McLaughlin, Vice President of Investor Relations. Charlotte, please go ahead.

Charlotte McLaughlin
Vice President of Investor Relations

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Thank you, operator. Good morning, and welcome to the Acuity Fiscal 2026 Second Quarter Earnings Call. On the call with me this morning are Neil Ashe, our Chairman, President and Chief Executive Officer; and Karen Holcom, our Senior Vice President and Chief Financial Officer.

Today’s call will include updates on our strategic progress and our fiscal 2026 second quarter performance. There will be an opportunity for Q&A at the end of the call.

As a reminder, some of our comments today may be forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 as detailed on Slide 2 of the accompanying presentation.

Reconciliations of certain non-GAAP financial metrics with their corresponding GAAP measures are available in our 2026 second quarter earnings release and supplemental presentation, both of which are available on our Investor Relations website at www.investors.acuityinc.com.

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