International News 16 March 2026
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Elon Musk Announces Tesla’s Terafab AI Chip Project to Launch Within Seven Days
Tesla CEO Elon Musk announced on Saturday (March 14, 2026) that the company’s Terafab project—designed to manufacture artificial intelligence (AI) chips—will be launched within the next seven days. Musk had previously indicated that Tesla might need to build a “giant chip factory” to produce its own AI chips. The project is intended to develop Tesla’s fifth-generation AI chips, which will support the company’s autonomous driving ambitions, including the Full Self-Driving (FSD) system. During Tesla’s annual meeting last year, Musk revealed the potential manufacturing plans for the chip project and mentioned the possibility of collaborating with Intel, although no formal agreement has been reached so far.
Japan to Release Oil Reserves After U.S. Urges Allies to Purchase American Products
Japan plans to begin releasing oil from its strategic reserves on Monday (March 16, 2026) in an effort to reduce the impact of market disruptions caused by the U.S.–Israel conflict in Iran. According to Reuters on Sunday (March 15, 2026), Japan has pledged to release a record 80 million barrels of oil—equivalent to roughly 45 days of supply for the resource-poor country—as gasoline prices across the nation start to rise due to supply disruptions in the Strait of Hormuz in the Persian Gulf. The government has also instructed Japanese refineries to utilize the released crude oil, a move that will reduce national reserves by about 17% in order to secure domestic supply.
Oil Prices Seen Rising as U.S.–Israel War Against Iran Enters Third Week
Global oil prices are expected to rise again at the start of trading on Monday (March 16, 2026), as the war between the United States and Israel against Iran enters its third week. The conflict has heightened risks to energy infrastructure and kept the strategic Strait of Hormuz shipping route closed, triggering one of the largest disruptions to global oil supply. U.S. President Donald Trump has threatened to launch further strikes on Iran’s key oil export hub on Kharg Island. The threat drew a strong response from Tehran, which warned it would carry out additional retaliatory actions. Meanwhile, Brent crude and West Texas Intermediate crude oil futures have surged sharply, shaking global financial markets. Both benchmarks have climbed more than 40% this month, reaching their highest levels since 2022.