International News 01 April 2026
-
Ukrainian Drones Strike Russian Oil Terminal at Baltic Port
Ukrainian drone strikes have once again targeted Russia’s energy infrastructure. This time, a crude oil loading facility owned by Transneft at the port of Ust-Luga on the Baltic Sea was reportedly hit. According to three industry sources, the drones struck a crude oil loading site operated by Transneft, Russia’s state pipeline monopoly, adding to the growing list of disruptions affecting the country’s strategic energy assets. Regional governor Alexander Drozdenko previously stated that the Ust-Luga port had sustained damage from recent drone attacks. As of now, Transneft has not issued an official response regarding the incident.
US Gasoline Prices Hit $4 per Gallon as Iran War Triggers Ripple Effects
Fuel prices in the United States have surged significantly as tensions escalate in the Middle East. The national average price of gasoline has now surpassed US$4 per gallon for the first time in over three years. According to Reuters, citing data from GasBuddy, this spike was recorded on Monday (March 30, 2026) and is largely driven by major disruptions in global energy supply caused by the ongoing conflict involving the United States, Israel, and Iran. The last time prices reached this level was in August 2022, following Russia’s invasion of Ukraine. This US$4 per gallon mark is widely viewed as a psychological threshold for consumers, as it directly affects household purchasing power. The increase in energy prices has been fueled by interruptions in global oil distribution, particularly after Iran effectively shut down the Strait of Hormuz a critical route through which a substantial portion of the world’s oil supply is transported.
War Persists, Goldman Sachs Maintains Gold Forecast to Reach $5,400
Goldman Sachs remains bullish on gold despite the recent sell-off, maintaining its positive outlook for the precious metal’s prospects. The firm expects gold prices to rebound by the end of 2026. In a research note cited by Bloomberg, analysts Lina Thomas and Daan Struyven reaffirmed their medium-term outlook, projecting that gold prices could reach US$5,400 per troy ounce. The bank highlighted continued purchases by central banks as a key driver, along with the possibility that the Federal Reserve may implement two additional interest rate cuts this year, which could further support gold prices.