Prysmian advances green aluminium cables while Hormuz crisis jolts oil - Mar 12, 2026

As of March 12, today’s news is dominated by Prysmian’s progress in sustainable aluminum innovation in the United States, and renewed concerns over global oil supply risks linked to escalating tensions in the Middle East. Prysmian recently took a step forward in the production of sustainably produced aluminum building wire in the United States, partnering with Rio Tinto to deliver product produced with ELYSIS™ aluminum, the company said in a statement. This innovation validates the use of ELYSIS™ aluminum in wire and cable production, enabling lower carbon emissions while supporting the company’s broader ambition to accelerate sustainability across its global footprint. Meanwhile, the International Energy Agency has flagged that the ongoing war in the Middle East has created the largest ever disruption to oil supplies, with expected drops of up to 8 million barrels per day in March, equating to roughly 8% of global demand. This situation stems from the blockage of the Strait of Hormuz due to military actions initiated by the U.S. and Israel against Iran. The IEA anticipates a potential rise in production in April as Gulf producers seek alternative export routes, but stresses that, for the year, global production is still projected to grow faster than demand. In the context of these disruptions, oil prices have surged, with Brent crude rising 9% and hitting 100.03 dollars per barrel, alongside similar increases in U.S. West Texas Intermediate crude. The situation remains tense, as Iranian threats continue to pose risks to Middle Eastern energy supplies. On the corporate front, RWE is making a significant move into the U.S. energy sector with a 20 billion dollars investment that will include new gas-fired power plants to meet rising power demands driven by data centers, which are mainly fueled by the escalating need for AI capabilities. Furthermore, aluminum prices have continued to rise amid concerns over supply disruptions from the Middle East, reflected in both Shanghai and London metal exchanges, driven largely by the ongoing military conflict in the region. From the international front, the U.S. government has initiated trade investigations targeting practices in several countries, with the goal of rebuilding tariff pressures following setbacks in its previous tariff regimen. This investigation may affect major trading partners, including China and the EU, as trade tensions remain high.