News
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ROI-Oil markets' bet on a brief Iran shock is about to be tested: Bousso
By Ron Bousso LONDON, March 2 (Reuters) - The relatively modest jump in oil prices in the wake of the U.S.-Israel war with Iran suggests investors are betting that the disruption to oil supplies from the Middle East will be short-lived. But that optimism may be misplaced.While the region's oi...Reuters
Mon, Mar 2
EUROPE GAS-European gas prices close higher on disruption to LNG shipments
Analysts warn prolonged disruption could push prices higherSource says QatarEnergy is set to declare force majeure EU's gas coordination group to meet on WednesdayBy Susanna Twidale LONDON, March 2 (Reuters) - Benchmark European wholesale gas prices closed around 35-40% higher on Monday, afte...Reuters
Mon, Mar 2
US not currently discussing sale of oil from SPR, source says
WASHINGTON, March 2 (Reuters) - Selling oil from the U.S. Strategic Petroleum Reserve after the U.S. and Israeli attacks on Iran is 'not currently being discussed', a U.S. source said on Monday."Oil markets remain well supplied", the source said.The SPR, held on the coasts of Louisia...Reuters
Mon, Mar 2
MSC Said On Sunday It Has Suspended All Bookings For Worldwide Cargo To Middle East Region
March 2 (Reuters) - MSC:MSC SAID ON SUNDAY THAT AS PRECAUTIONARY MEASURE, HAS SUSPENDED ALL BOOKINGS FOR WORLDWIDE CARGO TO MIDDLE EAST REGION UNTIL FURTHER NOTICEMSC: MIDDLE EAST BOOKINGS WILL RESUME AS SOON AS SECURITY SITUATION IMPROVESReuters
Mon, Mar 2
EU Commission assesses Middle East spillovers, steps up energy and transport monitoring
BRUSSELS, March 2 (Reuters) - The European Commission said on Monday that Commissioners had reviewed the evolving situation in the Middle East and that it was assessing possible spill-over effects for the European Union.In a statement, the Commission said it would focus on supporting EU member state...Reuters
Mon, Mar 2
FirstEnergy unit to invest $950 million in Ohio and Pennsylvania grid upgrades
March 2 (Reuters) - FirstEnergy FE.N said on Monday its transmission unit has been selected by grid operator PJM to modernize equipment, rebuild older lines and upgrade substations in Ohio and Pennsylvania, and that it will invest $950 million in the effort.Some parts of the project will be carr...Reuters
Mon, Mar 2
Mideast Gulf ship insurance costs soar as US-Iran war escalates, say sources
LONDON, March 2 (Reuters) - The insurance cost of shipping goods through the Middle East Gulf has surged as much as five times in the past 48 hours since the U.S. and Israeli began airstrikes on Iran, with most underwriters not offering cover for any sailings through the Strait of Hormuz, insurance ...Reuters
Mon, Mar 2
Iran's Revolutionary Guards say fuel tanker burning in Strait of Hormuz after being hit by drones
CAIRO, March 2 (Reuters) - Iran's Revolutionary Guards said a fuel tanker was burning in the Strait of Hormuz after being hit by two drones, Iranian news agencies said on Monday.The strait is the world's most vital oil export routes, connecting the biggest Gulf oil producers, such as Saudi A...Reuters
Mon, Mar 2
Oil markets 'remain well supplied', US source says
WASHINGTON, March 2 (Reuters) - Selling oil from the U.S. Strategic Petroleum Reserve after the U.S. and Israeli attack on Iran is 'not currently being discussed', a U.S. source said on Monday."Oil markets remain well supplied", the source said.The SPR, held on the coasts of Louisian...Reuters
Mon, Mar 2
PRECIOUS-Gold steadies as spotlight on Middle East conflict
Iran conflict widens to LebanonDubai gold flows curbed as flights halted due to strikes Spot gold up about 23% so far this year Silver slips over 6% By Ashitha Shivaprasad March 2 (Reuters) - Safe‑haven gold steadied on Monday as profit‑taking set in after prices earlier jumped more than 2% in re...Reuters
Mon, Mar 2
China oil refiners cushioned from Iran conflict with ample Iranian, Russian supply at hand
Abundant supplies from Iran, Russia now en route to China Government stockpiles around 900 million barrels, about 78 days of importsIran oil discounts expected to narrow amid concern that supply will tighten By Chen Aizhu and Siyi Liu SINGAPORE, March 2 (Reuters) - Refiners in China, the world...Reuters
Mon, Mar 2
FACTBOX-US Henry Hub natgas prices average two-year low for February
By Scott DiSavinoNEW YORK, March 2 (Reuters) - U.S. spot natural gas prices at the Henry Hub benchmark NG-W-HH-SNL in Louisiana averaged a two-year low for the month of February, pricing data from financial firm LSEG showed.Gas prices averaged $3.62 per million British thermal units (mmBtu) in Febru...Reuters
Mon, Mar 2
ANALYSIS-US struggling to de-risk Congo's 'war zone minerals' even after pact, sources say
Challenges persist over politics, permits, sources sayUS pressured to act on M23 for deals to progress, US diplomat saysChinese firms face lighter compliance burden, analysts sayBy Maxwell Akalaare Adombila and Ange Kasongo DAKAR/KINSHASA, March 2 (Reuters) - The U.S. has made progress in its pus...Reuters
Mon, Mar 2
Venture Global ready to help meet LNG shortfall as Qatar halts output
By Curtis Williams HOUSTON, March 2 (Reuters) - Venture Global has the biggest amount of LNG cargoes in the world that are not contracted and is ready to help stabilize the global markets as Qatar halts production following attacks from Iran, the company's CEO Mike Sabel said on Monday.Qatari...Reuters
Mon, Mar 2
US natgas futures jump 4% on energy supply concerns from Iran conflict
US gas futures rise despite warmer weather forecastsWaha Hub prices in Texas negative for 17th consecutive dayGlobal gas prices hit highs on supply concernsBy Scott DiSavino NEW YORK, March 2 (Reuters) - U.S. natural gas futures jumped about 4% to a one-week high on Monday on near-record liquefie...Reuters
Mon, Mar 2
Venture Global ready to help meet LNG shortfall as Qatar halts exports
HOUSTON, March 2 (Reuters) - Venture Global has the biggest amount of LNG cargoes in the world that are not contracted and is ready to help stabilize the global markets as Qatar halts exports following attacks from Iran, the company's CEO Mike Sabel said on Monday.Reuters
Mon, Mar 2
EU calls gas supply group meeting in response to Iran conflict
EU calls meetings of gas and oil coordination groups Spokesperson says no immediate risk of gas shortageEU asks member countries to assess oil suppliesBy Kate Abnett BRUSSELS, March 2 (Reuters) - The European Union's gas supply coordination group will meet on Wednesday to discuss the impact o...Reuters
Mon, Mar 2
FACTBOX-Qatar's role in the global gas market
By Marwa Rashad LONDON, March 2 - Qatar, one of the world's largest liquefied natural gas producers, halted LNG and related output on Monday after strikes on facilities in Ras Laffan.The country accounts for about 20% of global LNG exports, all of which transit the Strait of Hormuz, according...Reuters
Mon, Mar 2
