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EU has enough oil and gas, but prices are a concern, spokesperson says
BRUSSELS, March 9 (Reuters) - EU member states have sufficient stocks of oil and gas despite the disrupted supply chains due to the war in the Middle East, the EU Commission said on Monday."We are far less concerned about the security of supply than we are of the high energy prices," EU Comm...Reuters
Mon, Mar 9
Bahrain's Bapco announces force majeure on operations
March 9 (Reuters) - Bahrain’s Bapco declared force majeure on its group operations on Monday following an attack on its oil refinery complex, the company said, as the conflict in the Middle East continues to disrupt oil production.Here are some details:Bapco’s 380,000 barrels per day (bpd) Sitra ref...Reuters
Mon, Mar 9
WTI jumps above $100 amid Middle East war, retreats on emergency reserve talks
West Texas Intermediate (WTI) US Oil surges on Monday, trading around $100.70 per barrel at the time of writing, up 13.70% on the day after briefly jumping above $110 during the Asian session, its highest level since mid-2022.
Fxstreet
Mon, Mar 9
Hungary asked EU to suspend sanctions on Russian energy, PM says
BUDAPEST, March 9 (Reuters) - Hungary's Prime Minister Viktor Orban said on Monday that he asked European Commission President Ursula von der Leyen in a letter to suspend all sanctions on Russian energy, as that was needed to stop a rise in crude oil prices in Hungary.Orban also said in a video ...Reuters
Mon, Mar 9
South Korea in talks to invest in nuclear power project in US
By Hyunjoo Jin SEOUL, March 9 (Reuters) - South Korea's Industry Minister Kim Jung-kwan said on Monday that Seoul is in talks to invest in a nuclear power project in the United States as part of Seoul's pledge to invest a total of $350 billion in U.S. projects.Seoul has been scrambling to...Reuters
Mon, Mar 9
Saudi Aramco reducing output at two oilfields, two sources say
March 9 (Reuters) - Saudi oil giant Aramco has begun cutting output at two of its oilfields, two sources said on Monday, after the vital Strait of Hormuz was choked by the U.S.-Israeli war on Iran and subsequent attacks on the waterway.It was not immediately clear at which fields and by how much pro...Reuters
Mon, Mar 9
Four Chinese-Run Nickel Plants Operated By Gem Co In Indonesia Have Shut Down Temporarily After Landslide Last Month-Bloomberg News
March 9 (Reuters) - FOUR CHINESE-RUN NICKEL PLANTS OPERATED BY GEM CO IN INDONESIA HAVE SHUT DOWN TEMPORARILY AFTER LANDSLIDE LAST MONTH-BLOOMBERG NEWS Source text: https://tinyurl.com/mrx34ue7Reuters
Mon, Mar 9
EUROPE GAS-European gas prices rise back to 2023 high as US-Iran conflict enters second week
LONDON, March 9 - Benchmark European wholesale gas rose again to its highest level in more than three years on Monday, tracking a surge in oil, as the US-Iran conflict entered its second week and shipping around the Strait of Hormuz remained at a near standstill.Iran named MojtabaKhamenei to succeed...Reuters
Mon, Mar 9
RPT-Japan, France, Canada work on alternatives to US-led trade bloc for rare earth supplies
Japan funds rare earth projects with allies for supply chain diversificationFrance supports quota system and buyers' alliance for strategic mineralsCanada adds Australia to critical minerals production allianceBy Divya Rajagopal TORONTO, March 6 (Reuters) - Group of Seven members Japa...Reuters
Mon, Mar 9
Indonesia will absorb shock from soaring oil prices using state budget
Energy subsidy, compensation budget at $22.5 bln this yearOil prices now much higher than price assumed in budget2026 deficit outlook remains 2.7% of GDP, deputy finmin saysB50 biodiesel mandate may be revived, energy ministry saysBy Gayatri Suroyo and Ananda Teresia JAKARTA, March 9 (Reuters) - ...Reuters
Mon, Mar 9
South Korea in talks to invest in nuclear power project in US
SEOUL, March 9 (Reuters) - South Korea's Industry Minister Kim Jung-kwan said on Monday that Seoul is in talks to invest in a nuclear power project in the United States, without elaborating further.His comments were made in response to a lawmaker's question about Korea's possible investm...Reuters
Mon, Mar 9
EXCLUSIVE-Lucky numbers and collusion: how an Indian cement cartel came unstuck
India's ONGC complained secretly about three cement firmsAntitrust probe finds evidence of wrongdoing, bid riggingCement tenders showed same priced bids from Indian firms Indian firms kept lobbying to oust foreign bidders, probe saysBy Aditya Kalra NEW DELHI, March 9 (Reuters) - When India...Reuters
Mon, Mar 9
India says oil price surge unlikely to stoke inflation sharply
NEW DELHI, March 9 (Reuters) - India does not expect inflation to rise substantially from a jump in global crude oil prices triggered by the war in the Middle East, as domestic price levels remain near the lower end of the central bank's tolerance band, Finance Minister Nirmala Sitharaman said o...Reuters
Mon, Mar 9
Brent: Risk premium drives triple‑digit prices – Societe Generale
Societe Generale analysts Michael Haigh and Ben Hoff say Brent has surged above $100/bbl as Middle East supply losses deepen and flows through the Strait of Hormuz largely cease. They estimate around 17 mb/d of supply is stranded, with most OPEC+ spare capacity trapped.Fxstreet
Mon, Mar 9
Russia says situation at Iran's Bushehr NPP tense, but no strikes reported
MOSCOW, March 9 (Reuters) - The situation around Iran's Bushehr nuclear power plant remained tense but there had been no strikes on the facility or the construction site, Russian state nuclear agency Rosatom said on Monday citing its head Alexei Likhachev.Likhachev said construction of additiona...Reuters
Mon, Mar 9
South Korea to impose fuel price cap to shield economy from energy shock
South Korea seeks alternative energy sources beyond Strait of HormuzMinistry aims for price cap system within this weekLee says 100 trln won market stabilisation programme can be expandedBy Joyce Lee and Kyu-seok Shim SEOUL, March 9 (Reuters) - South Korean President Lee Jae Myung said on Monday ...Reuters
Mon, Mar 9
PRECIOUS-Gold prices fall on dollar strength, fading US rate-cut hopes
Dollar rises to over three-month highUS 10-year Treasury yields at one-month highCrude oil prices rise about 15%Iran names Khamenei's son Mojtaba as new supreme leaderBy Noel John March 9 (Reuters) - Gold prices fell on Monday, as a stronger U.S. dollar weighed on the greenback-priced bullion...Reuters
Mon, Mar 9
