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Golden Ten Data reported on March 31 that Australia is seeking to leverage its vast liquefied natural gas (LNG) export capacity to Asia in exchange for fuel supply security, as the country faces a domestic oil shortage triggered by the Iran war. Canberra has intensified its trade diplomacy throughout the region. Resources Minister Madeleine King and Foreign Minister Penny Wong are communicating with leaders from South Korea, Malaysia, Singapore, and Japan to ensure smooth freight operations. Australia is a top LNG supplier to these countries, while most of its refined fuel relies on imports from Asia. “We export LNG and, in turn, seek continued reliability in liquid fuel supply,” Wong said in an interview with the Australian Broadcasting Corporation radio on Tuesday. “We believe we’re a reliable supplier and we therefore ask for reliable reciprocity.”

Golden Ten Data reported on March 31 that spot electricity prices in Japan have surged to a three-year high due to the Middle East war driving up fuel costs for economies across Asia. On Tuesday, the spot price for next-day delivery jumped to 23.15 yen (about 14 cents) per kilowatt-hour, up 32% from a week earlier and reaching the highest level since January 2023. Power generation in Japan is highly dependent on imported fossil fuels. With key trade routes closed and energy facilities damaged, the conflict among the US, Israel, and Iran has caused crude oil and natural gas prices to soar significantly. In addition, the war has also pushed up the prices of alternative fuels such as coal. According to the Japan Meteorological Agency forecast, most parts of Japan will see cloudy and rainy weather on Wednesday, which may suppress solar power generation and further drive up spot electricity prices.

Glonghui March 31st｜Wells Fargo lowered the target price of Carnival Cruise Lines from $40 to $37, maintaining an "Overweight" rating.