Urea prices in New Orleans, Louisiana, have risen 28% since the outbreak of the war against Iran through Friday, according to Bloomberg Green Markets data. The fertiliser provision was implemented by expanding the definition of Venezuelan oil under an existing licence. Jeremy Banner, a partner at Washington law firm Hughes Hubbard & Reed, similarly noted that Venezuela’s oil sector lacks the infrastructure to offset current supply disruptions. Fertilisers and petrochemicals were not directly targeted by US sanctions but were indirectly disrupted by the broader measures to isolate Venezuela. Oil prices have also climbed since the American-Israeli strikes on Iran, one of the world’s largest oil-producing nations

Source: Daily News Egypt March 14, 2026 16:38 UTC