Rubio turns to small Indian town as US faces high oil prices

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1. 1

   Rubio turns to small Indian town as US faces high oil prices

   BBC NewsPublished Oct 23, 2026Checked Oct 23, 2026

   “US Secretary of State Marco Rubio was in India this week The western Indian port town of Jamnagar is not a usual stop for foreign leaders, yet it featured prominently in US Secretary of State Marco Rubio's recent visit. So, why did Rubio visit the town? And, more importantly, why did he skip the Indian capital, Delhi? The answer to both questions may have less to do with India and more to do with Donald Trump administration's domestic compulsions – or, more precisely, its domestic oil needs. Rubio arrived in the financial capital Mumbai on Tuesday, where he met Indian Foreign Minister S Jaishankar and some of the country's top business leaders. He officially ended his trip in Jamnagar - in the western state of Gujarat - home to the giant oil refinery owned by one of Asia's richest men, Mukesh Ambani. It was his second trip to the country this year and experts say what is significant this time is the timing of the visit as well as his choice of destinations. The Trump administration is under pressure to keep fuel prices in check ahead of November's US midterm elections, while rising tensions in the Middle East threaten global energy supplies. With little new refining capacity expected in the immediate future in the US, India's ability to process large volumes of crude oil offers Washington a potential way to ease pressure on the fuel markets. And that puts Reliance's Jamnagar refinery at the centre of the equation.”

2. 2

   India–United States relations (Wikipedia)

   WikipediaChecked Oct 23, 2026

   “The Republic of India and the United States established diplomatic relations in 1947 following Indian independence. Relations between the two countries have developed in areas including defense, trade, technology, education and energy. The two countries have also cooperated on regional and international issues, while differences have remained over trade, energy policy and other matters. In early 2026, energy policy became a significant issue in India–United States relations. The United States sought changes to India's purchases of Russian oil, while India considered the economic and logistical implications of changing its sources of crude oil. The United States and India announced a trade agreement in February 2026. President Donald Trump said that India had agreed to stop purchasing Russian oil and increase imports from the United States and potentially Venezuela, alongside reductions in tariffs on Indian goods. Indian officials said that energy security and diversification remained priorities and that refiners would require time to complete previously arranged Russian oil shipments.”

3. 3

   Global coal trade induces large CH4 emissions.

   iScience (Guo et al.)Published Feb 20, 2025Checked Oct 23, 2026

   “Coal mining is a major source of global anthropogenic methane (CH4) emissions contributing to climate change. The volume of coal traded has reached new heights in recent years, however, existing studies have ignored the impact of CH4 emissions induced by coal trade. This study investigates the spatiotemporal evolution of global coal trade-related CH4 emissions from 1990 to 2021. Global coal trade-related CH4 emissions increased 3.5 times from around 1.4 Tg to 6.1 Tg during this period. Examining past global coal trade activities reveals the extraordinary growth and prominence of the Asia-Pacific region. Australia, Indonesia, and Russia dominated trade-related CH4 emissions, accounting for 80.4% in 2021. Hub economies have the potential to drive significant mitigation of trade-related CH4 emissions through energy consumption transitions, the deployment of emissions mitigation technologies, and changes in trade structure. Our findings shed light on identifying trade-induced emissions hotspots and managing coal-related CH4 to mitigate climate change.”

4. 4

   Impact of commodity terms-of-trade shocks at disaggregate level.

   PloS one (Jiménez-Rodríguez & Morales-Zumaquero)Published Mar 17, 2026Checked Oct 23, 2026

   “This paper provides new evidence on the impact of country-specific commodity terms-of-trade shocks on economic growth for developing and emerging countries, not only at aggregate level but also at disaggregate level (agricultural raw materials, food and beverages, energy, and metals). Results suggest: (i) at the country group level, we find evidence supporting the so-called "terms-of-trade disconnect puzzle"; (ii) at the specific country level, the evidence is mixed (i.e., "blessing effect", "curse effect" or "negligible effect"); (iii) at the commodity category level, it seems that output is mainly affected by shocks to the terms-of-trade for metals, followed to a lesser extent by those for energy; and (iv) statistically significant shocks occur mainly in the short run.”

5. 5

   Analysis of the spatio-temporal evolution of iron ore trade from a geopolitical perspective: A complex network model.

   PloS one (Huang et al.)Published Mar 24, 2026Checked Oct 23, 2026

   “Given the increasing strategic importance of iron ore, this paper introduces a complex network model to analyze the evolution characteristics of the global iron ore trade pattern from 2000 to 2023, aiming to assess the trade situation of iron ore. In addition, relevant policies have been formulated to ensure the stable supply of iron ore. The study shows that the Global Iron Ore Trade Network (GIOTN) is active and efficient. However, the iron ore trade is highly imbalanced and heavily influenced by geopolitical factors. Furthermore, under the impact of geopolitics, there is a gradual shift from resource dominance to capital dominance in the global iron ore trade. In terms of trade competition, relations between Europe and Brazil seem to be more intense, and the competitive landscape of iron ore trade in southern Africa is becoming increasingly prominent. Meanwhile, the global iron ore trade is becoming more regionalized due to geopolitical influences, with trade communities trending towards smaller and more balanced states. Emerging economies such as China, South Africa, and India are playing an increasingly important role in the global iron ore trade.”