News
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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
G7 to discuss joint release of emergency oil reserves, French source says
March 9 (Reuters) - G7 finance ministers will on Monday discuss the possible release of emergency oil reserves, a French government source said, in response to surging oil prices resulting from the Middle East conflict.The talks were first reported by the Financial Times, which said the Internationa...Reuters
Mon, Mar 9
EU calls oil, gas supply group meetings on Middle East
AMSTERDAM, March 9 (Reuters) - The European Union's oil and gas supply coordination groups will meet on Thursday, a European Commission spokesperson said on Monday, after the Iran crisis sent oil prices surging to above $100 per barrel. The groups will monitor the energy impact of the conflict i...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
Oil: Price spike extends with war risk – Danske Bank
Danske Bank’s Danske Research Team highlights a sharp jump in Oil prices as Middle East tensions escalate, with Brent crude quoted at USD 116/bbl. The bank notes producers shutting down output and traffic halted through the Strait of Hormuz.Fxstreet
Mon, Mar 9
Azerbaijan reopens Iran border to cargo traffic after drone incident, TASS reports
BAKU, March 9 (Reuters) - Azerbaijan said on Monday it had reopened its border crossings with Iran for all cargo traffic, the Russian state-run TASS news agency reported.The border crossings, one of the shortest land routes connecting Iran to its ally Russia, were closed last week after what Baku de...Reuters
Mon, Mar 9
RPT-ROI-Rip up the glut forecasts - Mideast oil shock signals supply crunch: Bousso
By Ron Bousso LONDON, March 6 (Reuters) - The sudden and acute disruption to Middle East oil supplies caused by the U.S.-Israeli war with Iran is forcing buyers to tap every available barrel, rapidly dismantling forecasts of an oil glut this year.In February, the International Energy Agency forec...Reuters
Mon, Mar 9
South Korea aims to implement fuel price cap this week, official says
SEOUL, March 9 (Reuters) - South Korean presidential policy adviser Kim Yong-beom said on Monday that the industry ministry will proceed quickly so that a planned domestic fuel price capping system can be implemented as soon as this week.Reuters
Mon, Mar 9
Silver Price Rebounds Nearly 6% in Deep V-Shape After Briefly Dropping Below $80 Mark, Whipsawing Both Longs and Shorts Within the Day
TradingKey - During the Asian trading session, silver faced a market sell-off driven by a strengthening US dollar and market risk appetite. After the open, prices plunged as much as 5.6% before staging a sharp reversal to gain over 0.4%, with intraday volatility exceeding 6%. Gold, also a precious metal, similarly experienced an opening sell-off, dropping nearly 3% at one point.
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Mon, Mar 9
TABLE-North Sea gas maintenance schedule: Adds Ormen Lange outage
March 9 (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.OPERATORLOCATIONOUTA...Reuters
Mon, Mar 9
TECHNICALS-CBOT corn may stabilize around $4.68 and resume its climb
SINGAPORE, March 9 (Reuters) - CBOT corn CK26 may stabilize around a support at $4.68 per bushel and retest a resistance at $4.75-1/4.A projection analysis on a wave C from $4.34 reveals this barrier - the 238.2% level. This wave is expected to eventually travel to the 261.8% level of $4.79-1/4.Base...Reuters
Mon, Mar 9
Governments scramble to limit fallout of Iran war as oil prices surge
Oil jumps 25% after key producers cut output, Iran taps new leaderS.Korea caps fuel price for first time in 30 yearsJapan weighs oil reserve release; no decision yetVietnam cuts fuel import tariffs, Bangladesh shuts universities SINGAPORE, March 9 (Reuters) - Governments in Asia are scramblin...Reuters
Mon, Mar 9
International Oil Prices Retreat Rapidly; G-7 to Discuss Emergency Oil Reserve Release
TradingKey - At noon on March 9 Beijing Time, after escalating geopolitical conflicts in the Middle East caused international crude oil prices to surge, the Group of Seven (G7) urgently activated a response mechanism, planning a coordinated release of oil reserves to stabilize prices. Following the news, international oil prices retreated from their highs, with WTI crude’s intraday gain narrowing to 14% and Brent crude’s intraday gain narrowing to 15%.
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Mon, Mar 9
PRECIOUS-Gold prices fall as dollar firms, US rate-cut optimism fades
Dollar rises to over three-month highUS 10-year Treasury yields hit one-month highCrude oil prices rise about 20% Iran names Khamenei's hardline son Mojtaba as new supreme leaderBy Noel John March 9 (Reuters) - Gold fell on Monday, as a stronger U.S. dollar weighed on greenback-priced bullion...Reuters
Mon, Mar 9
