News
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Singapore fuel oil inventories extend gains as bunker demand slows
By Jeslyn Lerh SINGAPORE, March 12 (Reuters) - Onshore fuel oil inventories in Singapore tanks climbed for a third straight week, data from Enterprise Singapore showed, as spot demand for bunker fuel softened in recent days after prices spiked, trade sources said. For now, the stockbuild shows t...Reuters
Thu, Mar 12
EIG's MidOcean Energy buys additional Australian LNG stakes from JERA
MidOcean raises Gorgon stake to 1.417% from 1.0%Takes JERA's 0.735% interest in Ichthys project Total deal valued under $500 million, source saysParties to explore broader LNG strategic allianceTOKYO/HONG KONG, March 12 (Reuters) - MidOcean Energy, an LNG company backed by U.S. energy-focused pr...Reuters
Thu, Mar 12
Italy joins IEA oil reserve release with 9 million barrels
ROME, March 12 (Reuters) - Italy will contribute with 9 million barrels to a coordinated release of strategic oil reserves, joining other International Energy Agency members, a government source said on Thursday.Asked about the timing, the source said "availability was immediate."The IEA rec...Reuters
Thu, Mar 12
REFILE-Cathay Pacific to raise fuel surcharges from March 18 amid Iran conflict
March 12 (Reuters) - Hong Kong's Cathay Pacific Airways 0293.HK will raise fuel surcharges on all routes from March 18, the flagship carrier said on Thursday, as jet fuel prices have doubled since the start of this month amid the Middle East conflict.Reuters
Thu, Mar 12
PRECIOUS-Gold falls on firmer dollar, dimming US rate cut hopes
Iran tells world to get ready for oil at $200 a barrelIEA agrees to release record 400 million barrels of oilUS January PCE data due on FridayBy Noel John March 12 (Reuters) - Gold prices fell on Thursday, weighed down by a firmer U.S. dollar and waning hopes for near-term U.S. interest rate cuts...Reuters
Thu, Mar 12
Korea Zinc in talks with US tech firms to extract rare earths from data centre waste
Firm has already made related acquisitions, chairman saysInitiative on top of plans for $7.4 billion US smelterProjects will help US reduce reliance on Chinese rare earthsBy Heejin Kim SEOUL, March 12 - Korea Zinc 010130.KS is in talks with major U.S. technology firms to recycle data centre waste...Reuters
Thu, Mar 12
Drone debris knocks out six Kuwait power transmission lines
March 12 (Reuters) - Kuwait's electricity ministry said on Thursday that six power transmission lines went out of service after debris from intercepted drones fell on them. The ministry added that the electricity and water situation is under control.Reuters
Thu, Mar 12
Oil: Reserve release impact weighed against Hormuz risk – MUFG
MUFG’s Senior Currency Analyst Lloyd Chan highlights that Brent Oil has risen above US$90/bbl as supply risks from Iraq and the Strait of Hormuz overshadow the International Energy Agency’s record 400 million barrel emergency reserve release.Fxstreet
Thu, Mar 12
PRESS DIGEST- New York Times business news - March 12
March 12 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.- The International Energy Agency agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spik...Reuters
Thu, Mar 12
Saudi Arabia defence ministry intercepts drone heading to Shaybah oilfield
DUBAI, March 12 (Reuters) - Saudi Arabia's defence ministry said on Thursday it intercepted a drone heading toward the Shaybah oilfield, marking the third such incident reported on the same day.Drones have been targeting the area regularly this week.Reuters
Thu, Mar 12
TABLE-North Sea gas maintenance schedule: Revises Kollsnes outage
March 12 (Reuters) - The following is a schedule of maintenance work on gas infrastructure, mainly in the North Sea.The table is arranged by outage start date.Volumes are in standard million cubic metres per day (mcm/d) or gigawatt-hours per day (GWh/d) unless otherwise indicated.OPERATORLOCATIONOUT...Reuters
Thu, Mar 12
TECHNICALS-CBOT corn may test support at $4.60-3/4
SINGAPORE, March 12 (Reuters) - CBOT corn CK26 may test a support at $4.60-3/4 per bushel, as it faces a strong resistance at $4.64-1/4. From the perspective of a retracement analysis, the 61.8% retracement generally works as a strong barrier. Considering that the fall from $4.76 adopted a five-wave...Reuters
Thu, Mar 12
EIG's MidOcean Energy buys additional Australian LNG stakes from JERA
MidOcean raises Gorgon stake to 1.417% from 1.0%Takes JERA's 0.735% interest in Ichthys project Total deal valued under $500 million, source saysParties to explore broader LNG strategic allianceTOKYO/HONG KONG, March 12 (Reuters) - MidOcean Energy, an LNG company backed by U.S. energy-focused pr...Reuters
Thu, Mar 12
Oil: Supply shock fears offset IEA release – Commerzbank
Commerzbank strategists note that Oil and Brent prices extended gains even after the IEA agreed a record emergency release, as markets focus on hostilities around the Strait of Hormuz and potential US policy shifts to boost production.Fxstreet
Thu, Mar 12
ROI-Is Europe's gas demand recovery derailed or just dented by Iran crisis?: Maguire
By Gavin Maguire LITTLETON, Colorado, March 12 (Reuters) - Most of Europe's largest natural gas consumers cranked gas-fired power production to multi-year highs in early 2026, raising hopes among liquefied natural gas (LNG) exporters that the region was regaining its taste for the fuel.Howeve...Reuters
Thu, Mar 12
RWE targets gas-fired power plants in $20 billion US expansion drive
ESSEN, Germany, March 12 (Reuters) - RWE RWEG.DE, Germany's largest power producer, on Thursday said it would expand more aggressively in the United States, a market where data centres have significantly fuelled power demand, by investing in new gas-fired power plants.Overall, the U.S., where RW...Reuters
Thu, Mar 12
PRECIOUS-Gold falls on firmer dollar, dimming US rate cut hopes
Iran tells world to get ready for oil at $200 a barrelIEA agrees to release record 400 million barrels of oilUS January PCE data due on FridayBy Noel John March 12 (Reuters) - Gold prices fell on Thursday, weighed down by a firmer U.S. dollar and waning hopes for near‑term U.S. interest‑rate cuts...Reuters
Thu, Mar 12
TECHNICALS-CBOT soybeans may rise to $12.33-3/4
For more technical analyses, please click SINGAPORE, March 12 (Reuters) - The CBOT soybean May contract SK26 may break a resistance at $12.26 per bushel and rise to $12.33-3/4.The gain from the Tuesday low of $11.77-3/4 is classified as a continuation of the uptrend, which is supposed to extend abov...Reuters
Thu, Mar 12
Iran to allow India-flagged tankers pass through Strait of Hormuz, Indian source says
NEW DELHI, March 12 (Reuters) - Iran will allow India-flagged tankers to pass through the Strait of Hormuz, a key artery for global oil trade, an Indian source said on Thursday. An Iranian source denied allowing the tankers to pass through.Reuters
Thu, Mar 12
