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WTI rallies sharply on Strait of Hormuz tensions, technicals point to further upside
West Texas Intermediate (WTI) crude Oil continues to experience extreme volatility, with prices rising more than 7.5% on Thursday as traders grow increasingly concerned about prolonged supply disruptions through the Strait of Hormuz amid the ongoing US-Iran war.
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Thu, Mar 12
February import and export volume increased at busiest US container port in Los Angeles
LOS ANGELES, March 12 (Reuters) - Imports to the busiest U.S. container seaport in Los Angeles rose 5% in February versus a year ago, while export volume increased nearly 7% during that period, port data showed.Reuters
Thu, Mar 12
France to finance loan for new reactors from state bank savings fund, Elysee says
PARIS, March 12 (Reuters) - France will use the state-backed Caisse des Depots (CDC) bank's savings fund to finance a subsidized loan that will cover 60% of the construction cost of six new nuclear reactors, said the French presidency on Thursday, after President Emmanuel Macron held a meeting o...Reuters
Thu, Mar 12
India's Modi speaks to Iran's President Pezeshkian
March 12 - Indian Prime Minister Narendra Modi on Thursday spoke to Iranian President Masoud Pezeshkian, he said in a post on X."The safety and security of Indian nationals, along with the need for unhindered transit of goods and energy, remain India’s top priorities," he said in the post.Reuters
Thu, Mar 12
Europe Gasoline/Naphtha-Gasoline refining margins slide
LONDON, March 12 (Reuters) - Northwest European gasoline refinery profit margins fell by $3.37 to $2.46 a barrel on Thursday as rising crude prices weighed.About 6,000 metric tons of E5 gasoline barges traded in the Argus window, with ExxonMobil and Sahara selling to Trafigura and MB Energy.Another ...Reuters
Thu, Mar 12
PRECIOUS-Gold slips over 1% on strong dollar, easing rate-cut bets
Iran's supreme leader vows to keep Strait of Hormuz closedChile central bank issues first gold purchase in decades BMI expects silver to average $93/oz in 2026By Ashitha Shivaprasad March 12 (Reuters) - Gold prices fell more than 1% on Thursday, pressured by a stronger dollar and diminishing ...Reuters
Thu, Mar 12
GRAINS-Soybeans hit 21-month high on rising crude oil, corn and wheat also higher
Crude oil rise supports soybean, wheat, and corn pricesConcerns about high crop input costs support grainsIranian attacks heighten fears of prolonged Middle East conflictBy Karl Plume CHICAGO, March 12 (Reuters) - U.S. soybean futures climbed on Thursday to the highest point since mid-2024 on spe...Reuters
Thu, Mar 12
EU wheat gains further as crude oil rises on war escalation
PARIS, March 12 (Reuters) - European wheat futures rose for a second day on Thursday, supported by crude oil prices as headlines from the Middle East war suggested no immediate de-escalation, traders said.May milling wheat BL2K6 on Euronext was up 1.3% at 208.75 euros ($240.67) a metric ton by 1723 ...Reuters
Thu, Mar 12
METALS-Aluminium nears four-year high on Middle East supply fears
By Polina Devitt LONDON, March 12 (Reuters) - Aluminium prices hit their highest level in almost four years on Thursday on investor worries of tighter supply to Europe and other regions as the Middle East conflict disrupts shipments via the Strait of Hormuz.Benchmark three-month aluminium CMAL3 o...Reuters
Thu, Mar 12
Iran says many ships can pass through Strait of Hormuz if they coordinate with Iranian navy
DUBAI, March 12 (Reuters) - Many ships can still pass through the Strait of Hormuz if they coordinate with the Iranian navy, Iran's Foreign Ministry spokesperson Esmaeil Baghaei said in comments carried by Mehr news agency. "After the current events, generally we cannot return to conditions ...Reuters
Thu, Mar 12
Two US sailors injured after non-combat fire aboard carrier in Red Sea
By Idrees Ali and Phil Stewart WASHINGTON, March 12 (Reuters) - Two U.S. sailors were injured after the USS Gerald Ford suffered a non-combat-related fire on board, the U.S. military said on Thursday.The Ford carrier, the United States' newest aircraft carrier and the world's largest, is ...Reuters
Thu, Mar 12
US has arranged nearly 50 charter flights from Middle East amid Iran strikes, State Dept says
By Simon Lewis WASHINGTON, March 12 (Reuters) - The Trump administration has organized nearly 50 flights to return U.S. citizens from the Middle East since the U.S.-Israeli war with Iran began, a State Department official said on Thursday, and officials said demand for the flights has declined.Th...Reuters
Thu, Mar 12
US natgas prices at Waha Hub in Texas remain negative for record 25th day
Pipeline constraints cause negative gas prices at Waha HubPermian gas output growth expected to slow in 2026 and 2027Higher oil prices may boost future Permian gas productionBy Scott DiSavino NEW YORK, March 12 (Reuters) - U.S. spot natural gas prices for Thursday at the Waha Hub NG-WAH-WTX-SNL i...Reuters
Thu, Mar 12
Kazakhstan's Tengiz field recovers daily oil output, but average March production lags target, sources say
MOSCOW, March 12 (Reuters) - Oil output at Kazakhstan’s largest Tengiz field rose to 810,000 barrels on March 11, but averaged 495,000 barrels per day (bpd) over the first 10 days of this month on average, lagging the capacity target, two industry sources said.According to the sources, average produ...Reuters
Thu, Mar 12
Russian foreign minister to meet IAEA chief on Friday, TASS reports
MOSCOW, March 12 (Reuters) - Russian Foreign Minister Sergei Lavrov is set to meet International Atomic Energy Agency Director General Rafael Grossi in Moscow on Friday, Russia's state-run TASS news agency reported.Reuters
Thu, Mar 12
Trump administration tells oil industry to prepare for Jones Act waiver on domestic shipping, sources say
WASHINGTON, March 12 (Reuters) - The Trump administration has told U.S. oil companies and shipping groups to prepare for a potential waiver of the century-old Jones Act governing domestic shipping, signaling the White House could soon ease restrictions to help move fuel around the country, two sourc...Reuters
Thu, Mar 12
Norway forbids Norwegian-flagged ships to enter Strait of Hormuz
COPENHAGEN, March 12 (Reuters) - Norway's maritime authority said on Thursday that Norwegian-flagged ships will not be permitted to enter the Strait of Hormuz until further notice, due to the escalating security situation after the U.S.-Israeli attacks on Iran."Given how the situation has de...Reuters
Thu, Mar 12
