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Gulf shipping crisis deepens as tankers stranded for fifth day, US sinks Iranian warship
US strike hit an Iranian warship off Sri Lanka,Trump pledges to provide insurance and navy escorts Traffic still stuck, production cuts widenTrump's measure will not help amid ongoing attacks, experts sayBy Jonathan Saul, Anna Hirtenstein and Yousef Saba March 4 (Reuters) - The U.S.–Iran war ...Reuters
Wed, Mar 4
Reuters Gulf Currents-Iran war tests Gulf fundamentals
Andrew Mills, deputy bureau chief, Gulf It’s hard to grasp how abruptly life in the Gulf has been upended in just five days of war. Members of the Reuters Gulf team, like so many of our neighbours in the region, have huddled in stairwells and windowless bathrooms, listening to volleys of...Reuters
Wed, Mar 4
London marine insurers still offering Middle East cover as war risk rates rise, Gallagher says
Gallagher says marine insurance available amid Gulf conflictWar risk premiums rise as maritime insurance comes into focusU.S.-Israeli conflict with Iran enters fifth dayBy Noor Zainab Hussain and Manya Saini March 4 (Reuters) - Marine insurers in the London market continue to offer cover in the M...Reuters
Wed, Mar 4
US working on plan to secure Strait of Hormuz, White House says
WASHINGTON, March 4 (Reuters) - The Pentagon and the U.S. Energy Department are working on plans to secure the Strait of Hormuz to ensure safety for oil tankers amid the war on Iran, White House spokeswoman Karoline Leavitt said on Wednesday, declining to offer details on timing.Reuters
Wed, Mar 4
Iraq suffers power grid blackout due to technical fault
CAIRO, March 4 (Reuters) - Iraq's electricity ministry said on Wednesday that all provinces were experiencing a power blackout, which the government attributed to a technical fault.Many Iraqis for years have relied on privately operated generators for power as government-provided electricity was...Reuters
Wed, Mar 4
MSC announces emergency fuel surcharge on some trade routes
March 4 (Reuters) - MSC said on Wednesday it was imposing an emergency fuel surcharge on some trade routes, effective March 16.The surcharge will be effective on trade routes between Europe and southern Africa, and the North West Continent/Canary Islands route, the world's largest carrier of oce...Reuters
Wed, Mar 4
Trump administration gets no bids at Alaska Cook Inlet oil and gas auction
March 4 (Reuters) - A division of the U.S. Department of the Interior said on Wednesday that it had received no bids at its sale of oil and gas drilling rights in Alaska's Cook Inlet."At this time, no bids have been received," the U.S. Bureau of Ocean Energy Management said in a post on ...Reuters
Wed, Mar 4
DOJ Probes US Fertilizer Market For Possible Price Fixing - Bloomberg News
March 4 (Reuters) - DOJ PROBES US FERTILIZER MARKET FOR POSSIBLE PRICE FIXING - BLOOMBERG NEWSCOMPANIES UNDER DOJ SCRUTINY INCLUDE NUTRIEN LTD, MOSAIC CO, CF INDUSTRIES HOLDINGS INC, KOCH INC, NORWAY’S YARA INTERNATIONAL- BLOOMBERG NEWSSource text: https://tinyurl.com/24bjb8s2Further company cover...Reuters
Wed, Mar 4
US diesel hits $4 per gallon mark as Middle East conflict drags on
By Nicole JaoNEW YORK, March 4 (Reuters) - Average U.S. diesel prices surpassed $4 a gallon for the first time in nearly two years on Wednesday as the U.S.-Israel war with Iran dragged on.The conflict in the Middle East has disrupted global oil supply and paralyzed shipping through the Strait of Hor...Reuters
Wed, Mar 4
PRECIOUS-Gold rises as Middle East conflict escalates, dollar rally pauses
US sub sinks Iranian warship off Sri LankaUS private payrolls increase in February, ADP saysVolatility in precious metals market likely to continue, analyst says By Ashitha Shivaprasad March 4 (Reuters) - Gold prices rose on Wednesday as the escalating conflict in the Middle East attracted safe‑h...Reuters
Wed, Mar 4
WTI trims gains after rally to one-year high as traders assess US-Iran conflict
West Texas Intermediate (WTI) Crude Oil trims part of its intraday gains on Wednesday as traders assess geopolitical developments surrounding the US-Iran conflict. At the time of writing, WTI trades near $74.32 after briefly reaching a one-year high of $77.20 on Tuesday.
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Wed, Mar 4
US Cash Grains-Corn, soy basis bids hold steady as futures slump
CHICAGO, March 4 (Reuters) - Basis bids remained largely unchanged for corn and soybeans across the U.S. Midwest on Wednesday as futures prices sagged, dealers said. Farmer sales of corn slowed a bit as prices pulled back, a broker said.Chicago Board of Trade May corn CK26 futures were down 3-1/2 ce...Reuters
Wed, Mar 4
REFILE-EXCLUSIVE-Qatar shuts gas liquefaction, will take weeks to restart, sources say
Shipping halt in Strait of Hormuz disrupts Qatar's LNG exportsQatar's LNG shutdown affects global gas markets, causing shortagesRestarting LNG production is gradual to avoid equipment damageBy Marwa Rashad March 4 (Reuters) - Qatar declared force majeure on gas exports on Wednesday amid t...Reuters
Wed, Mar 4
Euronext wheat retreats from six-month high
PARIS, March 4 (Reuters) - Benchmark wheat futures on Euronext fell nearly 2% on Wednesday, retreating from a six-month peak amid investors hopes of de-escalation in the Middle East war.May milling wheat BL2K6, the most-active position on Euronext, settled 1.9% down at 199.50 euros per metric ton to...Reuters
Wed, Mar 4
Japan's Next US Investments Likely To Cover Nuclear Plant, Copper Refinery, Nikkei Says
March 4 (Reuters) - Nikkei:JAPAN'S NEXT US INVESTMENTS LIKELY TO COVER NUCLEAR PLANT, COPPER REFINERYTOKYO, WASHINGTON CONSIDERING NUCLEAR POWER PLANT, OTHERS, AS CANDIDATES FOR SECOND PHASE OF JAPAN'S $550 BILLION INVESTMENT, LOAN PLEDGE IN U.S.MINISTER RYOSEI AKAZAWA WILL VISIT WASHINGTON ...Reuters
Wed, Mar 4
Mass blackout cuts power across most of Cuba amid US oil chokehold
March 4 (Reuters) - Cuba, the Caribbean's largest island, experienced a blackout across most of its territory including the capital Havana, the country's national electricity union UNE said on Wednesday, adding it was working to restore services.The blackout affected the island from the cent...Reuters
Wed, Mar 4
Russian LNG tanker sinks in Mediterranean, Moscow blames Ukrainian drones
Tanker suffered explosions, fire -Libyan agencyAll 30 crew members reported safeRussia calls incident 'act of terrorism'First Ukrainian attack on Russian LNG tanker if confirmed MOSCOW, March 4 (Reuters) - A Russian tanker carrying liquefied natural gas (LNG) sank in the Mediterranean on ...Reuters
Wed, Mar 4
GRAINS-Chicago grains ease as market shifts focus from Iran conflict
By Heather Schlitz CHICAGO, March 4 (Reuters) - Chicago grain and soybean futures turned slightly lower on Wednesday as focus turned toward an abundant global supply of grains and away from the ongoing conflict in Iran that temporarily boosted prices, analysts said.The most-active soybean contrac...Reuters
Wed, Mar 4
CORRECTED-MOVES-Steve Cohen's Point72 hires veteran Castleton trader in commodities push, sources say
By Shariq Khan and Georgina McCartneyNEW YORK/HOUSTON, Feb 26 (Reuters) - Steve Cohen-led hedge fund Point72 Asset Management has hired Ryan Sheffler as natural gas portfolio manager to build out its commodities trading desk, three sources told Reuters. Point72, which has so far focused primarily on...Reuters
Wed, Mar 4
