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Egypt can help with Saudi Arabian oil transit, petroleum minister says
CAIRO, March 3 (Reuters) - Egypt can help facilitate the transit of Saudi crude oil from Yanbu through the SUMED pipeline to the Mediterranean, Egypt’s petroleum minister Karim Badawi said on Tuesday. Saudi oil giant Aramco 2223.SE has informed some buyers of its Arab Light crude that they must ...Reuters
Tue, Mar 3
RPT-ROI-China imports the most energy, but is best placed on Iran: Russell
By Clyde Russell LAUNCESTON, Australia, March 3 (Reuters) - China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely t...Reuters
Tue, Mar 3
Atlantic LNG freight rates jump to highest since November 2023, Spark Commodities data shows
LONDON, March 3 - Atlantic freight rates for liquefied natural gas (LNG) jumped on Tuesday by $100,250 to $161,750 per day for the highest rate since November 2023 and a record peak for this time of year, Spark Commodities data showed."The LNG market’s inherent lack of structural flexibility has...Reuters
Tue, Mar 3
ANALYSIS-Iran's strikes on Gulf states may widen war against Tehran, analysts say
Iran's gambit risks widening anti-Iran coalitionGulf neutrality collapses, alignment with US hardensGCC invokes collective self-defence under UN CharterEnergy shutdowns rattle global energy marketsBy Samia Nakhoul DUBAI, March 3 (Reuters) - Iranian airstrikes on Gulf states could push them in...Reuters
Tue, Mar 3
Norway wealth fund makes first investment in US renewable energy assets
OSLO, March 3 (Reuters) - Norway's sovereign wealth fund, the world's largest, has made its first investment in renewable energy assets in the United States, buying a 33.3% stake in a portfolio of 17 solar plants and five onshore wind power facilities, it said on Tuesday.Norges Bank Investme...Reuters
Tue, Mar 3
Ryanair's O'Leary sees surge in Easter bookings to Europe due to Middle East war
Ryanair sees Easter bookings rise as Middle East demand dropsAirline focuses on Jordan repatriations, is hedged against oilBy Anna Wlodarczak-Semczuk and Alan Charlish WARSAW, March 3 (Reuters) - Ryanair RYA.I has seen a surge in Easter holiday bookings to European destinations as travelers avoid...Reuters
Tue, Mar 3
Grandbridge Corporation And Powerbank Corporation Announce Co-Development Agreement For Solar Energy And Battery Storage Projects In Ontario
March 3 (Reuters) - PowerBank Corp SUNN.NLB:GRANDBRIDGE CORPORATION AND POWERBANK CORPORATION ANNOUNCE CO-DEVELOPMENT AGREEMENT FOR SOLAR ENERGY AND BATTERY STORAGE PROJECTS IN ONTARIOPOWERBANK CORP: UNDER AGREEMENT, CO & GRANDBRIDGE WILL COLLABORATE EXCLUSIVELY DURING THREE-YEAR DEVELOPMENT PER...Reuters
Tue, Mar 3
Gold edges lower as stronger US Dollar offsets safe-haven demand
Gold (XAU/USD) trades with a negative bias on Tuesday as a stronger US Dollar (USD) and rising US Treasury yields weigh on the non-yielding metal, even as geopolitical tensions surrounding the US-Iran conflict keep investors cautious.
Fxstreet
Tue, Mar 3
UAE has 4-6 months' strategic reserves of basic goods, minister says
ABU DHABI, March 3 (Reuters) - The United Arab Emirates has sufficient strategic reserves of basic goods to cover needs for between four and six months, the economy minister said on Tuesday after regional conflict raised concerns about supply disruptions.The minister added that the UAE can quickly f...Reuters
Tue, Mar 3
Indonesia to import more crude oil from US as Middle East conflict escalates, minister says
JAKARTA, March 3 (Reuters) - Indonesia will increase crude oil imports from the United States to replace some supply from the Middle East amid an escalating war in the region, its energy minister said on Tuesday.The ongoing U.S. and Israeli air war against Iran has killed scores of civilians in Iran...Reuters
Tue, Mar 3
PRECIOUS-Gold falls 4% as strong dollar and higher rate bets undercut safe-haven demand
Iran threatens to fire on ships crossing Strait of HormuzMarket focused on inflationary risks, analyst says Silver, platinum and palladium fall sharplyBy Noel John and Pablo Sinha March 3 (Reuters) - Spot gold prices fell on Tuesday, sliding more than 4% at one point, as some investors favoured ...Reuters
Tue, Mar 3
Norsk Hydro says QatarEnergy announces halt to aluminium production
OSLO, March 3 (Reuters) - Norway's Norsk Hydro NHY.OL said on Tuesday that QatarEnergy has issued a statement that the company is stopping the production of some downstream products in Qatar, including urea, polymers, methanol and aluminium.Reuters
Tue, Mar 3
WRAPUP 1-Global energy costs soar as Iran crisis disrupts shipping, oil and gas production
Hormuz shut for fourth day, five tankers hitQatar shuts gas output, Saudi refinery stopsUS gasoline prices rise above $3/gallonBessent, Wright to announce US plans to mitigate oil spikeBy Yousef Saba and Ahmed Elimam LONDON, March 3 (Reuters) - Global oil and gas prices jumped on Tuesday as the U...Reuters
Tue, Mar 3
Saudi's Aramco informed crude buyers cargoes must be loaded from Yanbu on Red Sea coast, sources say
LONDON/NEW DELHI, March 3 (Reuters) - Saudi oil giant Aramco 2223.SE has informed some buyers of its Arab Light crude that they must load cargoes at Yanbu on the western Red Sea coast, three sources said on Tuesday, which would allow it to avoid the Strait of Hormuz due to attacks on shipping.Aramco...Reuters
Tue, Mar 3
Silver Loses $80, Plunges 12% Intraday; Gold Dives $100 in Short Term; Has Safe-Haven Rally Ended?
TradingKey - During Tuesday's US pre-market session (as of 6:40 AM ET), spot silver fell below $80 per ounce intraday, hitting a low of $77.9625, its lowest level since February 20. The intraday decline reached 12% at one point, and it is currently trading at $80.4 per ounce.
Ryanair prioritising repatriating its customers in Jordan, CEO says
WARSAW, March 3 (Reuters) - Ryanair's RYA.I priority is repatriating its customers from Jordan and it does not have much spare capacity to help with other repatriations, but will try to help where possible, Chief Executive Michael O'Leary said on Tuesday."Certainly wherever we can help w...Reuters
Tue, Mar 3
Von der Leyen will discuss Druzhba pipeline with Zelenskiy, spokesperson says
BRUSSELS, March 3 (Reuters) - EU Commission President Ursula von der Leyen will likely discuss the problems with the Druzhba pipeline in a phone call with Ukrainian President Volodymyr Zelenskiy on Tuesday, a spokesperson said."This afternoon, President von der Leyen will have a call with Presid...Reuters
Tue, Mar 3
Russia raises alarm over conflict's impact on Bushehr nuclear plant in Iran
MOSCOW, March 3 (Reuters) - The Bushehr nuclear power plant in Iran is under threat as a result of the escalating conflict, the head of Russian state nuclear corporation Rosatom said on Tuesday, according to the RIA state news agency.Rosatom said on Saturday it had evacuated nearly 100 people from I...Reuters
Tue, Mar 3
GRAINS-Chicago soybeans gain as crude oil surges amid Middle East conflict
Soybean prices track soyoil, supported by a surge in crude oil pricesConcerns over Chinese demand and Brazilian competition limit soybean gainsCBOT wheat and corn also rise amid market concernsBy Sybille de La Hamaide and Ella Cao BEIJING/PARIS, March 3 (Reuters) - Chicago soybeans rose on Tuesda...Reuters
Tue, Mar 3
