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PRECIOUS-Gold edges up, but set for weekly drop as inflation fears offset safe-haven demand
Gold headed for weekly lossFebruary US employment report due at 1330 GMTIsrael strikes Hezbollah-controlled suburbs of BeirutBy Pablo Sinha March 6 (Reuters) - Gold edged up on Friday on safe-haven demand amid escalating tensions in the Middle East, but was headed for a weekly loss, as mounting ...Reuters
Fri, Mar 6
Kremlin says the war in Iran has fuelled demand for Russian energy
MOSCOW, March 6 (Reuters) - The Kremlin said on Friday that the war in Iran had fuelled demand for Russian energy products, noting that buyers like China and India were guided by their national interests. Kremlin spokesman Dmitry Peskov told reporters that Russia has been and remained a reliable su...Reuters
Fri, Mar 6
Qatar warns war will force Gulf to stop energy exports within weeks, energy minister tells FT
March 6 (Reuters) - Qatar's energy minister Saad al-Kaabi said that even if the war ended immediately it would take Qatar "weeks to months" to return to a normal cycle of deliveries, he told the Financial Times in an interview published on Friday.Reuters
Fri, Mar 6
Oil: Safe-haven bid versus consumer tax – BNY
BNY’s Bob Savage highlights that Oil supply shock risks look underpriced even as prediction markets see high odds of crude reaching $100/bbl. He notes strong investor flows into Energy equities across regions and describes Oil as a new safe haven.
Fxstreet
Fri, Mar 6
Iran war chokes aid corridors, obstructing global relief efforts
Aid routes disrupted by Iran war, delaying shipmentsDubai aid hub badly affectedAid for Gaza and Sudan held upShipments for Africa forced to take lengthy Cape routeBy Olivia Le Poidevin and Emma Farge GENEVA, March 6 (Reuters) - Key humanitarian air, sea and land routes are being constricted by d...Reuters
Fri, Mar 6
CK Hutchison steps up legal push as Panama moves to seize ports
March 6 (Reuters) - Hong Kong conglomerate CK Hutchison 0001.HK said on Friday it has escalated its legal fight in Panama after the government seized its port operations, petitioning for a review of the decree behind the takeover.The company said Panama unlawfully occupied facilities, seized propert...Reuters
Fri, Mar 6
Italy scouts gas supplies from U.S., Africa and Azerbaijan after Qatar force majeure, minister says
ROME, March 6 (Reuters) - Italy is looking at alternative sources of natural gas, including U.S. liquefied natural gas (LNG) and pipeline supplies from Africa and Azerbaijan, to make up for loss of deliveries from Qatar due to the conflict in the Middle East, Energy Minister Gilberto Pichetto Fratin...Reuters
Fri, Mar 6
REFILE-Oil falls as US may intervene in futures market, issues waiver for Russian purchases
By Helen Clark PERTH, March 6 (Reuters) - Oil fell for the first time in six days as the U.S. government is considering potentially intervening in the futures market to blunt rising prices and has given waivers to Indian refiners to buy Russian crude to ease supply constraints from the Middle Eas...Reuters
Fri, Mar 6
U-Turn: Trump Administration Abandons Crude Oil Futures Intervention Plan
TradingKey - March 6: According to Bloomberg, the Trump administration had discussed authorizing the Treasury Department to trade crude oil futures, but latest reports indicate that the proposal has now been shelved.TradingKey
Fri, Mar 6
Maersk suspends two shipping services due to Middle East crisis
COPENHAGEN, March 6 (Reuters) - Maersk MAERSKb.CO, one of the world's biggest container shipping groups, said on Friday it has temporarily suspended two services linking the Middle East to Asia and Europe as the Iran conflict continues to disrupt global supply chains. The Danish group said in...Reuters
Fri, Mar 6
REFILE-Maersk suspends two shipping services due to Middle East crisis
COPENHAGEN, March 6 (Reuters) - Maersk MAERSKb.CO will temporarily suspend its FM1 service, connecting the Far East to the Middle East, and its ME11 service, connecting the Middle East to Europe, the shipping group said in a statement on Friday."This decision has been taken as a precautionary me...Reuters
Fri, Mar 6
More LNG tankers divert as Asian buyers seek cargoes
LNG tankers divert to Asia due to Middle East disruptionsAsian buyers face high prices, struggle to replace Qatari cargoesCompetition between Atlantic and Pacific basins may intensifyBy Emily Chow SINGAPORE, March 6 (Reuters) - More tankers carrying liquefied natural gas are diverting towards Asi...Reuters
Fri, Mar 6
India invokes emergency powers, orders refiners to boost LPG output
By Nidhi VermaNEW DELHI, March 6 (Reuters) - India has invoked emergency powers and directed refiners to maximise production of liquefied petroleum gas (LPG) to prevent a shortage of the cooking fuel after supply disruptions caused by the Middle East crisis, a government order showed.The world's...Reuters
Fri, Mar 6
TECHNICALS-CBOT corn may extend gains into $4.58-$4.62 range
SINGAPORE, March 6 (Reuters) - CBOT corn CK26 may extend gains into a range of $4.58 to $4.62 per bushel, driven by a powerful wave C.This wave has travelled far above its 100% projection level of $4.51-1/2. It is likely to extend into a range of $4.58-$4.62, formed by the 138.2% and the 161.8% leve...Reuters
Fri, Mar 6
PRECIOUS-Gold rises as Middle East conflict spurs safe-haven demand
US dollar weakens 0.3%February US employment report due later in the dayRisk of geopolitical tensions escalating, analyst saysBy Noel John March 6 (Reuters) - Gold prices rose on Friday, rebounding from a more than 1% drop in the previous session, as investors bought safe-haven bullion on heighte...Reuters
Fri, Mar 6
Trump officials ruling out Treasury oil futures trades for now, Bloomberg News reports
March 6 (Reuters) - The Trump administration is ruling out deploying the Treasury Department to trade oil futures for now, Bloomberg News reported on Friday, citing a person familiar with the matter.Officials discussed getting the Treasury Department involved, but believe its ability to meaningfully...Reuters
Fri, Mar 6
TABLE-North Sea gas maintenance schedule: Adds Bacton SEAL (Elgin Franklin) outage
March 6 (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
Fri, Mar 6
