Fertilizer Prices Are Still Soaring

The Eneos Arrow oil tanker arrives at an open-sea berth of the Shirashima National Petroleum Stockpiling Base in Kitakyushu, Fukuoka Prefecture, Japan, on Friday, March 27, 2026.

• The Eneos Arrow oil tanker arrives at an open-sea berth of the Shirashima National Petroleum Stockpiling Base in Kitakyushu, Fukuoka Prefecture, Japan, on Friday, March 27, 2026
• Japan began releasing 8
• 5 million kiloliters, about a month's consumption worth of crude oil, from its national reserves starting on March 26 to ease a supply crunch as the Strait of Hormuz remains effectively blocked