News
Important Only
Argentina's TGS to invest $3 bln in natural gas liquids project
By Eliana Raszewski and Rodrigo CamposNEW YORK/BUENOS AIRES, March 11 (Reuters) - Argentine energy firm Transportadora de Gas del Sur (TGS) said on Wednesday it will invest $3 billion in a new natural gas liquids project in the Vaca Muerta shale formation.The project, to be developed over almost fou...Reuters
Wed, Mar 11
US companies to increase oil production amid Iran conflict, Interior Secretary Burgum says
WASHINGTON, March 11 (Reuters) - U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict."I think you're going to see them all announcing that they've increased production, yo...Reuters
Wed, Mar 11
Oil tanker seized by US in relation to Venezuela set to transfer crude to smaller vessel
By Arathy Somasekhar HOUSTON, March 11 (Reuters) - An oil tanker seized by the United States for carrying Venezuelan oil is set to transfer the crude to a smaller vessel off the coast of Texas that can take it to shore, ship tracking data showed on Wednesday. The United States last month sought t...Reuters
Wed, Mar 11
Chubb to serve as lead US insurer for Gulf shipping amid Iran war
March 11 (Reuters) - Insurance giant Chubb CB.BN will be the lead partner on the U.S. International Development Finance Corporation's $20 billion Maritime Reinsurance Plan aimed at resuming commercial shipping in the Gulf, the agency said on Wednesday.The U.S.-Israeli conflict has widened sharpl...Reuters
Wed, Mar 11
India ready to support oil markets as IEA agrees record release
March 11 (Reuters) - India said on Wednesday it was ready to support global oil markets in line with the International Energy Agency's release of a record 400 million barrels of oil to try to rein in prices that have soared following the U.S.-Israeli war with Iran."India stands ready to take...Reuters
Wed, Mar 11
US Cash Grains-Soy, corn basis mixed after farmer selling
CHICAGO, March 11 (Reuters) - Basis bids for corn and soybeans were largely mixed in the U.S. Midwest on Wednesday following a wave of farmer selling as producers sought to take advantage of a rally in corn and soybean futures.Farmer selling has petered out slightly after a surge of selling.Market p...Reuters
Wed, Mar 11
EU wheat higher with crude oil as war worries grow
PARIS, March 11 (Reuters) - European wheat futures rose on Wednesday, tracking a rebound in crude oil as financial markets fretted over the potential impact of the U.S.-Israeli war with Iran.May milling wheat BL2K6 on Euronext settled 1% up at 206 euros ($238.22) a metric ton. The benchmark contract...Reuters
Wed, Mar 11
PRECIOUS-Gold eases as firmer dollar, lingering inflation concerns persist
Iran tells world: get ready for oil at $200 a barrelUS consumer prices increase as expected in FebruaryStandard Chartered maintains positive longer-term view on goldBy Ashitha Shivaprasad March 11 (Reuters) - Gold prices edged lower on Wednesday, weighed down by an uptick in the U.S. dollar and l...Reuters
Wed, Mar 11
US gasoline prices surpass $3.50 a gallon at the pumps as Iran war rages on
By Shariq Khan NEW YORK, March 11 (Reuters) - The national average retail price of gasoline crossed $3.50 a gallon this week to hit its highest since May 2024, data from price tracking services AAA and GasBuddy showed, as the Israel-U.S. war with Iran stokes supply concerns.Disruptions to Middle ...Reuters
Wed, Mar 11
Europe Gasoline/Naphtha-Gasoline refining margins fall
LONDON, March 11 (Reuters) - Northwest European gasoline refinery profit margins fell by 75 cents to about $5.83 a barrel on Wednesday, as underlying crude prices rose owing to supply disruptions in the Middle East.About 4,000 metric tons of E5 gasoline barges traded in the Argus window, with ExxonM...Reuters
Wed, Mar 11
METALS-Aluminium rallies, focus on supply disruptions from Middle East conflict
By Pratima Desai LONDON, March 11 (Reuters) - Aluminium prices rallied on Wednesday as market focus shifted to global supply losses from the Middle East conflict, following a brief selloff sparked by comments from U.S. President Donald Trump on the Iran war. Benchmark aluminium CMAL3 on the ...Reuters
Wed, Mar 11
Silver Price Forecast: XAG/USD falls as US Dollar gains, geopolitical risks persist
Silver (XAG/USD) trades lower on Wednesday, hovering around $85.30 at the time of writing, down 2.12% on the day. The precious metal struggles to extend its recent gains as a rebound in the US Dollar (USD) and higher US Treasury yields weigh on demand for non-yielding assets.
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Wed, Mar 11
ROI-Historic oil reserve release is only a band-aid on a gaping supply shock: Bousso
By Ron Bousso LONDON, March 11 (Reuters) - The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energ...Reuters
Wed, Mar 11
GRAINS-Soybeans rally for second day, grains turn higher, as crude oil firms
Corn futures up; traders bet US farmers to plant less cornCrude oil rebound helps support soyoil, soybean futuresStrait of Hormuz closure affects fertilizer, fuel pricesBy P.J. Huffstutter CHICAGO, March 11 (Reuters) - Chicago Board of Trade soybean futures rallied for a second straight session o...Reuters
Wed, Mar 11
Mercuria to withdraw nearly 100,000 tonnes of aluminium from LME as Middle East supply disrupted, sources say
Mercuria cancels nearly 100,000 tons of aluminium in LME warehouses, sources sayAluminium premiums soar in US and Europe due to shortagesGunvor cancelled more than 45,000 tons of LME aluminium, sources sayBy Pratima Desai LONDON, March 11 (Reuters) - Commodity trader Mercuria plans to withdraw la...Reuters
Wed, Mar 11
EXCLUSIVE-Russia prepares 10% cut to 'non-sensitive' spending in 2026, sources say
Cuts to exclude military, welfare spending, focus on non-essential expensesOil price rises due to Iran war will affect budget decisionsFinance Ministry yet to decide on extent of cutsSays prioritisation of spending under discussion By Darya Korsunskaya MOSCOW, March 11 (Reuters) - The Russian go...Reuters
Wed, Mar 11
Global dealmaking in oil and gas upstream was muted in 2025, Enverus says
March 11 (Reuters) - Dealmaking in the international upstream oil and gas market remained subdued for the second straight year in 2025, totaling just $18 billion, analytics firm Enverus said on Wednesday.Fewer high-quality resources and lower oil prices limited the value of mergers and acquisitions ...Reuters
Wed, Mar 11
Oil storage facilities hit in Oman’s Salalah port, Ambrey and state TV say
DUBAI, March 11 (Reuters) - Oil storage facilities were struck in Oman's Salalah port on Wednesday, British maritime security firm Ambrey said.Drones struck fuel tanks in the port, Oman TV reported. Oman's state news agency said, citing an energy ministry official, that there has been no dis...Reuters
Wed, Mar 11
PRECIOUS-Gold eases as firmer dollar, lingering inflation concerns persist
Iran tells world 'get ready for $200 a barrel'US consumer prices increase as expected in FebruaryStandard Chartered maintains positive longer-term view on goldSpot silver slips over 4% By Ashitha Shivaprasad March 11 (Reuters) - Gold prices edged lower on Wednesday, weighed down by an upt...Reuters
Wed, Mar 11
