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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
U.S. sub sinks Iranian warship off Sri Lanka, killing 87 and expanding war zone
Ship identified as Iranian frigate IRIS DenaHegseth say U.S. unleashed 'Quiet death' on ship with torpedosSri Lankan rescuers found oil slick, bodies floating at siteSri Lanka rescues 32, recovers dead bodiesVessel had taken part in naval exercise in Bay of BengalBy Uditha Jayasinghe, Idrees...Reuters
Wed, Mar 4
Residual fuel oil demand fell to record low last week, EIA
HOUSTON, March 4 (Reuters) - Product supplied, a proxy for demand, of residual fuel oil fell to a record low last week, the Energy Information Administration said on Wednesday. Residual fuel oil demand fell by 552,000 barrels per day to just 10,000 bpd in the week to February 27.Reuters
Wed, Mar 4
Aluminium supply headaches intensify as Bahrain shipments stop, Qatar smelter to shut
Alba declares force majeure, seeks alternative shipping solutionsQatalum shutdown adds to supply concerns, Norsk Hydro issues force majeureEuropean and U.S. aluminium premiums reach multi-year highsBy Eric Onstad and Tom Daly LONDON, March 4 (Reuters) - Aluminium Bahrain ALBH.BH, which runs o...Reuters
Wed, Mar 4
Maersk halts cargo bookings for Gulf states
COPENHAGEN, March 4 (Reuters) - Maersk said on Wednesday it is temporarily suspending most cargo bookings in and out of the United Arab Emirates, Oman, Iraq, Kuwait, Qatar, Bahrain and Saudi Arabia until further notice.The Jeddah and King Abdullah ports in Saudi Arabia and the Salalah port in Oman r...Reuters
Wed, Mar 4
French finance ministry to meet petrol station operators to control consumer costs
PARIS, March 4 (Reuters) - France's Finance Ministry said it would meet petrol distributors at 1000 GMT on Thursday to discuss the rise in global oil prices and to ensure that the cost for customers does not exceed recent increases due to the Iran conflict.Reuters
Wed, Mar 4
Indian gas firms restrict local supplies due to Middle East crisis
Middle East conflict disrupts India's LNG supply from QatarForce majeure declared by Indian gas firms, affecting fertiliser productionNo gas supply cuts announced for households or automobile sectorBy Nidhi Verma NEW DELHI, March 4 (Reuters) - Several Indian companies have restricted the dome...Reuters
Wed, Mar 4
LME fines PAC Global Services Spain 250,000 pounds for warehouse violations
LONDON, March 4 (Reuters) - The London Metal Exchange fined warehouse operator PAC Global Services Spain (PGS) 250,000 pounds ($334,175) in a disciplinary action due to breaches of its rules, the LME said on Wednesday.The exchange, the world's oldest and largest market for industrial metals, lis...Reuters
Wed, Mar 4
Iran intelligence operatives signalled openness to talks with CIA to end war, NYT reports
March 4 (Reuters) - Operatives from Iran's Ministry of Intelligence signalled openness to the U.S. Central Intelligence Agency (CIA) to talks on ending the war, the New York Times reported on Wednesday, citing officials briefed on the matter.The offer was made through an unnamed country's sp...Reuters
Wed, Mar 4
US natural gas futures fall over 4% as market stabilizes following prior gains
March 4 (Reuters) - U.S. natural gas futures fell more than 4% on Wednesday as the market stabilized after hitting an over one-week-high in the previous session, while investors assessed Middle East supply risks amid the U.S.-Israeli war on Iran.Front-month gas futures NGc1 for April delivery on the...Reuters
Wed, Mar 4
Canada's SSR Mining to sell stake in Turkey's Copler mine for $1.5 billion
By Varun SahayMarch 4 (Reuters) - Canada's SSR Mining SSRM.TO said on Wednesday it had entered a binding memorandum of understanding to sell its 80% stake in Turkey's Copler mine to Cengiz Holding A.S. for $1.5 billion in cash, sending its shares up more than 12%.The gold miner said it was ...Reuters
Wed, Mar 4
Argentine energy producer Genneia signs $185 mln financing deal with IDB Invest
BUENOS AIRES, March 4 (Reuters) - Argentine renewable energy producer Genneia said on Wednesday it signed a financing agreement for $185 million with IDB Invest, part of a facility that is expandable to $320 million, to support new solar parks and battery storage systems in Argentina.The investment ...Reuters
Wed, Mar 4
Bath & Body Works forecasts steeper annual sales drop as turnaround takes longer
March 4 (Reuters) - Bath & Body Works BBWI.N on Wednesday forecast a steeper-than-expected decline in annual sales, despite beating holiday-quarter estimates, as CEO Daniel Heaf said a turnaround at the fragrance retailer will take time.Shares of the company, which lost nearly half of their valu...Reuters
Wed, Mar 4
PRECIOUS-Gold rises as Middle East conflict escalates, dollar rally pauses
US, Kurds in Iran discuss potential military operationUS 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 attr...Reuters
Wed, Mar 4
Deals of the day-Mergers and acquisitions
March 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Wednesday: Chinese investors Guoxin Guotong Fund (GT Fund) and CNIC Corporation are considering selling their 33.3% stake in Spanish gas network operator Redexis as the country's governme...Reuters
Wed, Mar 4
Whiskey maker Brown-Forman tops quarterly estimates on steady demand
March 4 (Reuters) - Jack Daniel's maker Brown-Forman BFb.N on Wednesday beat analysts' expectations for third-quarter sales and profit on the back of firm demand for its whiskey and ready-to-drink beverages despite a choppy economic backdrop.Shares of the company, which also maintained its a...Reuters
Wed, Mar 4
US excludes Rosneft Germany from Russia sanctions indefinitely, Bloomberg News reports
March 4 (Reuters) - The U.S. government will exempt the German unit of Russia's Rosneft ROSN.MM from sanctions against the oil major indefinitely, Bloomberg News reported on Wednesday, citing a person familiar with the matter. "We are in close and very constructive dialogue with the relevant...Reuters
Wed, Mar 4
UKMTO receives report of an incident 20 nautical miles west of Dubai
DUBAI, March 4 (Reuters) - The United Kingdom Maritime Trade Operations said on Wednesday it received a report of an incident 20 nautical miles west of Dubai, where a container ship witnessed a splash from an unknown projectile near the vessel. No damage was reported, and authorities are investigati...Reuters
Wed, Mar 4
