News
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India's Reliance buys 6 mln barrels of Russian oil for March, sources say
By Nidhi Verma NEW DELHI, March 9 (Reuters) - India's Reliance Industries Ltd RELI.NS has bought at least 6 million barrels of Russian oil for March delivery after supplies from the Middle East were hit due to the Iran war, two industry sources with knowledge of the matter said.Indian refiner...Reuters
Mon, Mar 9
India won't join IEA-led initiative to tap oil reserves, source says
India fuel stocks comfortable, no export caps being consideredIndia to get additional LPG from US, CanadaRefiners tap sanctioned Russian cargoes after US waiverBy Nidhi Verma March 9 (Reuters) - India has no plans to join International Energy Agency (IEA) initiative to release strategic oil reser...Reuters
Mon, Mar 9
German steel association calls for energy price stabilisation
DUESSELDORF, March 9 (Reuters) - The association of German steelmakers said on Monday it was calling for industrial policy measures to stabilize energy prices that have been inflated by uncertainties in the Middle East.The lobby group said it was paramount for industrial electricity prices to be cap...Reuters
Mon, Mar 9
Israel resumes natural gas exports to Egypt on limited basis, Israeli energy ministry says
JERUSALEM, March 9 (Reuters) - Israel has resumed natural gas exports to Egypt on a limited basis, the Israel energy ministry said on Monday.At this stage, the supply of natural gas to Egypt is carried out only from the surplus available after fully meeting the needs of the domestic economy, primari...Reuters
Mon, Mar 9
GRAINS-Grain prices gain as oil shoots higher on Middle East war
Most-active soybeans up 0.7%, had hit highest since May 2024Wheat down 0.6% after hitting highest since June 2024Corn flat after hitting 10-month highsBEIJING/HAMBURG, March 9 (Reuters) - Global grains prices rose on Monday, with soy and wheat hitting almost two-year peaks as the U.S.-Israel war on ...Reuters
Mon, Mar 9
Standard Lithium-Equinor JV inks lithium offtake deal with Trafigura
March 9 (Reuters) - Standard Lithium SLI.V said on Monday its joint venture with Norway's Equinor EQNR.OL had signed its first binding offtake agreement to supply lithium carbonate from its southwest Arkansas project to commodities trader Trafigura.The joint venture, Smackover Lithium, will supp...Reuters
Mon, Mar 9
Greek-operated tanker with Saudi oil cargo sails through Hormuz, ship tracking data shows
LONDON, March 9 (Reuters) - A Greek-operated oil tanker has sailed through the Strait of Hormuz with a cargo of Saudi Arabian crude and its destination listed as India, analysis from ship tracking platforms Kpler and Lloyd's List Intelligence showed on Monday.The Shenlong Suezmax tanker, with a ...Reuters
Mon, Mar 9
Oil output, exports knocked by Iran conflict as prices surge
Saudi cutting output at two oilfields -sourcesBahrain's Bapco declares force majeure after attackOil prices highest since mid-2022G7 ministers to look at strategic reserves release -source March 9 (Reuters) - Saudi Arabia has begun oil output cuts, sources said on Monday, becoming the latest ...Reuters
Mon, Mar 9
PRESS DIGEST-Canada - March 9
March 9 (Reuters) - The following are the top stories from Canadian newspaper Globe and Mail. Reuters has not verified these stories and does not vouch for their accuracy.THE GLOBE AND MAIL-The G7 countries will discuss a possible release of emergency oil reserves on Monday after crude prices jumped...Reuters
Mon, Mar 9
US natgas futures jump 4% as cooler weather looms, Iran war supply concerns
US natural gas futures rise due to cooler weather forecastsGlobal energy prices soar amid US-Iran conflictWaha Hub prices remain negative due to pipeline constraintsBy Scott DiSavino NEW YORK, March 9 (Reuters) - U.S. natural gas futures climbed about 4% to a one-month high on Monday on forecasts...Reuters
Mon, Mar 9
Shipper MSC introduces emergency fuel surcharges
March 9 (Reuters) - Shipping company MSC on Monday announced emergency fuel surcharges on all cargo from the Mediterranean and Black Sea to the Indian sub-continent, Red Sea and East Africa.The move includes the West Mediterranean, Adriatic, the East Mediterranean, Greece and Turkey and applies from...Reuters
Mon, Mar 9
EXCLUSIVE-Saudi Aramco reducing output at two oilfields, two sources say
Aramco rerouting crude to Red Sea port amid Strait of Hormuz effective closureUS-Israel war on Iran roils global markets, several MidEast producers curb outputBrent crude futures surge to near $120 per barrel, highest since mid-2022By Yousef Saba March 9 (Reuters) - Saudi oil giant Aramco 2222.SE...Reuters
Mon, Mar 9
CBOT Trends-Wheat up 3-4 cents, corn up 4-5, soybeans up 12-14
CHICAGO, March 9 (Reuters) - The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Monday: WHEAT - Up 3 to 4 cents per bushelWheat ticked higher on war premium amid the ongoing U.S.-Israeli war with Ir...Reuters
Mon, Mar 9
RPT-ROI-Compounding errors and narrow self-interest threaten global fuel crisis: Russell
By Clyde Russell LAUNCESTON, Australia, March 9 (Reuters) - Mounting miscalculations and a retreat to narrow self-interest by major countries, including the United States and China, are threatening to turn the current conflict in Iran into a global crisis for the supply of refined oil products.Mu...Reuters
Mon, Mar 9
Gold remains vulnerable as US-Iran war, Fed rate outlook weigh on sentiment
Gold (XAU/USD) trims some intraday losses on Monday after coming under heavy selling pressure at the start of the week. The mild recovery comes as the US Dollar (USD) and Treasury yields ease somewhat from recent highs as markets digest shifting macro and geopolitical drivers.
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Mon, Mar 9
GRAINS-Chicago soy, wheat, corn rise on oil rally, Iran war fear
BEIJING/HAMBURG, March 9 (Reuters) - Chicago soybeans, wheat and corn rose on Monday, supported by surging crude oil prices and fear about the impact of the continuing U.S.-Israeli war with Iran.Chicago Board of Trade most-active soybeans Sv1 rose 1.2% to $12.15-3/4 a bushel, at 1156 GMT after earli...Reuters
Mon, Mar 9
Valero says rainstorm triggers safety trips at Texas city refinery
March 9 (Reuters) - Valero VLO.N reported on Monday that a rainstorm tripped multiple safety interlocks and caused a "unit upset" at its 225,000‑barrel‑per‑day Texas City refinery, according to a regulatory filing."A heavy rainstorm event tripped multiple safety interlocks resulting in a...Reuters
Mon, Mar 9
Germany's chemicals lobby warns higher prices due to Iran war will dampen demand
FRANKFURT, March 9 (Reuters) - Germany's chemical industry lobby VCI on Monday warned that companies would have to pass on higher energy costs sparked by the war in Iran to their consumers, thus dampening demand. "Currently, there is a risk that the effects of the war could persist for weeks...Reuters
Mon, Mar 9
Ghana to introduce new gold royalty regime on Tuesday despite opposition, regulator says
Regulator says policy has support despite diplomatic pushbackGold miners warn new regime may deter future investmentAfrican governments seeking more value from surging commodity prices.By Maxwell Akalaare Adombila DAKAR, March 9 (Reuters) - Ghana will press ahead on Tuesday with a new sliding‑sca...Reuters
Mon, Mar 9
Oil and gas industry urge EU to pause methane emissions law
By Kate Abnett BRUSSELS, March 9 (Reuters) - Oil and gas companies urged the European Union on Monday to pause its methane emissions law, warning it could disrupt Europe's fuel imports when tougher provisions kick in next year.The call from industry comes after the U.S. government demanded th...Reuters
Mon, Mar 9
