Cuba has completely depleted its oil and diesel reserves, the country's energy minister confirmed in state media. Widespread power outages have become a feature of daily life, and hundreds of people have taken to the streets of Havana in protest.

Analysis of oil price shock stemming from February 28 Iran incident and Strait of Hormuz tanker traffic disruption. Impact visible in rising U.S. gasoline and diesel prices, subsequently affecting grocery prices through transportation costs, with March inflation report exceeding expectations.