News
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Gold Price Forecast: XAU/USD faces pressure near upper Rising Channel boundary around $5,400
Gold price (XAU/USD) trades 2.5% lower to near $5,180 during the European trading session on Tuesday. The yellow metal corrects after rising for four straight trading days. On Monday, the precious metal gained sharply as investors shifted to the safe-haven fleet amid the war in the Middle East.
Fxstreet
Tue, Mar 3
India has sufficient energy reserves to deal with Gulf crisis, minister says
March 3 (Reuters) - India has sufficient energy reserves to deal with the ongoing situation in the Middle East, the country's oil minister said in a post on X on Tuesday. Indian companies have reduced natural gas supplies to industries in anticipation of tighter supply from the region after top ...Reuters
Tue, Mar 3
Saudi Aramco to review alternative crude export routes to avoid Hormuz, source says
DUBAI, March 3 (Reuters) - Saudi Arabian oil giant Aramco 2223.SE will review alternative routes to export its crude oil to avoid the Strait of Hormuz, an industry source said on Tuesday, including by using the east-west pipeline to ship crude via the western Red Sea coast.Reuters
Tue, Mar 3
A full Strait of Hormuz blockage and 20% fall in supply could push oil over $100/bbl, Commerzbank says
March 3 (Reuters) - If the Strait of Hormuz were completely blocked, causing supply to fall by 20%, the oil price would likely rise to over $100 per barrel, Commerzbank said in a note on Tuesday.The bank also added that a prolonged conflict could lead to supply difficulties and bottlenecks for alumi...Reuters
Tue, Mar 3
RPT-ROI-Dollar gets its mojo back - but only by default: Mike Dolan
By Mike Dolan LONDON, March 3 (Reuters) - While it's tempting to assume the dollar's long-lost "safety" bid has returned since the weekend Iran attacks, it's not as clear-cut as it seems and owes more to relative energy plays. Yet the implications of the market response may b...Reuters
Tue, Mar 3
Germany, Quebec sign minerals deals to bolster supply chains
BERLIN, March 3 - Germany and Quebec strengthened their critical minerals partnership on Tuesday, signing a joint declaration and four corporate agreements at the Prospectors & Developers Association of Canada (PDAC) mining conference in Toronto.The deals, announced by Germany's economy mini...Reuters
Tue, Mar 3
EUROPE GAS-European gas prices soar more than 40% on LNG supply fears
LONDON, March 3 (Reuters) - Benchmark Dutch and British gas prices extended their gains for the second day in a row and rose more than 40% on Tuesday morning, as supply fears mounted after Iran and Israel stepped up attacks in the Middle East and Qatar halted production at its Ras Laffan liquefied n...Reuters
Tue, Mar 3
Putin will convey Arab concerns to Iran about attacks on oil infrastructure, Kremlin says
MOSCOW, March 3 (Reuters) - Russian President Vladimir Putin will convey to Iran concerns among Arab leaders about Tehran's strikes on oil infrastructure in the region, the Kremlin said on Tuesday, as the Iran conflict continued to widen.Putin held a flurry of phone calls on Monday with four Ara...Reuters
Tue, Mar 3
European Natural Gas surges 85% on Qatar LNG shock, Hormuz disruptions
Dutch TTF Natural Gas Futures for the April 2026 contract, the benchmark for European Natural Gas prices, are rallying sharply, trading around €59.62, up 33.97% on Tuesday at the time of writing, extending the price surge to more than 85% since Friday's close.Fxstreet
Tue, Mar 3
Russia warns Iran war could spur nuclear weapon race in broader Middle East
MOSCOW, March 3 (Reuters) - Russian Foreign Minister Sergei Lavrov warned on Tuesday that the war launched by the U.S. and Israel against Iran could prompt not only Iran but also its Arab neighbours to seek to acquire nuclear weapons.The widening war in the Middle East increased the risk that nuclea...Reuters
Tue, Mar 3
Saudi Arabia condemns Iran attack on US embassy in Riyadh, reserves right to respond
DUBAI, March 3 (Reuters) - Saudi Arabia condemned on Tuesday an Iranian attack targeting the U.S. embassy in Riyadh, and stressed it reserved the right to respond, a foreign ministry statement said. The kingdom reaffirmed its full right to take all necessary measures to defend its security and vital...Reuters
Tue, Mar 3
Oil: Supply shock risk grows with Hormuz shutdown – Danske Bank
Danske Research Team highlights severe disruption to Oil and gas markets as conflict involving the United States, Israel and Iran escalates. Shipping through the Strait of Hormuz has stalled, stranding significant volumes and driving freight rates sharply higher.
Fxstreet
Tue, Mar 3
Putin will convey Arab concerns to Iran about attacks on oil infrastructure, the Kremlin says
MOSCOW, March 3 (Reuters) - Russian President Vladimir Putin will convey to Iran concerns among Arab leaders about strikes on oil infrastructure in the region, the Kremlin said on Tuesday.Putin, the Kremlin said, would do his best to defuse tensions in the region.Reuters
Tue, Mar 3
Oil rises as expanding US-Israel war with Iran heightens supply risks
Brent, WTI gain more than $2-$3 per barrel Vessels continue avoiding Strait of Hormuz, as freight rates soar Analysts see oil prices remaining elevated over coming days By Anushree Mukherjee and Emily Chow SINGAPORE, March 3 (Reuters) - Brent rose more than $3 on Tuesday for a third day of gains ...Reuters
Tue, Mar 3
PRECIOUS-Gold falls as strong dollar counters flight to safety
Dollar hits more than one-month highIran threatens to fire on ships crossing Strait of HormuzMarket focused on inflationary risks, analyst says Silver, platinum and palladium all fall sharplyBy Noel John March 3 (Reuters) - Spot gold prices fell on Tuesday as a stronger dollar offset safe-haven d...Reuters
Tue, Mar 3
Russia asks: where is the evidence Iran planned to build nuclear weapons?
MOSCOW, March 3 (Reuters) - Russian Foreign Minister Sergei Lavrov said on Tuesday that Moscow had still not seen any evidence that Iran was developing nuclear weapons, amid what he said was "essentially a war" ongoing in the Middle East.Reuters
Tue, Mar 3
Oil output at Kazakhstan's Tengiz fell by a third in early March, sources say
Production dropped to 415,000 bpd from 590,000 bpd in FebruaryExport flows slowed due to disruptions at the CPC terminalDrone attacks and stormy weather have interrupted exportsField is still recovering from January's power‑equipment fire MOSCOW, March 3 (Reuters) - Production at Kazakhstan&...Reuters
Tue, Mar 3
