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PRESS DIGEST-British Business - March 2
March 2 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.The Times- Private equity firm Blackstone BX.N has put 100 million pounds ($134.44 million) into OurHouse, which runs two hi...Reuters
11 minutes ago
Oil prices expected to stay high for days, all eyes on Strait of Hormuz flows
March 2 (Reuters) - Analysts expect oil prices to remain elevated over the coming days with conflict escalating in the Middle East, as they assess the impact to supplies, especially flows through the Strait of Hormuz, a conduit for more than 20% of global oil.Crude futures surged more than 8% on Mon...Reuters
2 hours ago
PRECIOUS-Gold climbs as US-Israel strikes on Iran spark safe-haven demand
By Ashitha Shivaprasad and Kavya Balaraman March 2 (Reuters) - Gold XAU= prices rose on Monday after the U.S. and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty. Spot gold XAU= was up...Reuters
2 hours ago
Japan has not yet decided on oil stockpile release
TOKYO, March 2 (Reuters) - Japan's government has made no decision so far on the release of crude oil stockpiles following the U.S. and Israeli attacks on Iran, an official with Japan's Ministry of Economy, Trade and Industry said on Monday.There has been no request so far for international ...Reuters
2 hours ago
U.S.-Iran Conflict Escalation Triggers Market Volatility. International Oil Prices Surge, Gold Safe-Haven Demand Rises
TradingKey - On Monday, crude oil prices in Asian markets surged as tensions in the Middle East continued to escalate following joint military strikes by the U.S. and Israel against Iran. International benchmark Brent crude jumped approximately 13% at the open, hitting an intraday high of $82 per barrel before paring some of those gains.
GRAINS-Chicago soybeans gain on rising soyoil prices; wheat slips
BEIJING, March 2 (Reuters) - Chicago soybean futures rose on Monday, tracking gains in soyoil prices after crude oil climbed amid an ongoing military conflict in the Middle East.However, a record soybean harvest in Brazil and an uncertain demand from China kept the gains in check.Wheat pulled back f...Reuters
3 hours ago
TECHNICALS-US oil to revisit June 23 high of $78.40
For more technical analyses, click SINGAPORE, March 2 (Reuters) - U.S. oil CLc1 is expected to revisit its June 23 high of $78.40 per barrel due to a major breakout on Monday.The contract has broken a long-term trendline falling from the March 2022 high of $124.23. The break signals a reversal of th...Reuters
3 hours ago
Japan's Itochu says oil, product supplies from the Gulf impacted by attacks on Iran
TOKYO, March 2 (Reuters) - Japanese trading house Itochu 8001.T has started to experience "some impact" on shipments of its crude oil and petroleum products from the Gulf as several ports there have been affected by fallout from the U.S. and Israeli attacks on Iran, it said in emailed statem...Reuters
3 hours ago
PRECIOUS-Gold climbs 2% as US-Israel strikes on Iran raise regional temperature
March 2 (Reuters) - Gold XAU= prices rose as much as 2% on Monday after the U.S. and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty.Reuters
4 hours ago
PRECIOUS-Gold rises 1% as US-Israel strikes on Iran raise regional temperature
By Ashitha Shivaprasad March 2 (Reuters) - Gold XAU= prices rose more than 1% on Monday after the U.S. and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty. Spot gold XAU= was up 1.35% ...Reuters
4 hours ago
ROI-OPEC+ crude output boost ignored with duration of Hormuz disruption key: Russell
LAUNCESTON, Australia, March 2 (Reuters) - The OPEC+ decision to lift crude oil output by 206,000 barrels per day (bpd) from April is probably the least consequential decision the group has made in nearly a decade of existence.Reuters
4 hours ago
PRECIOUS-Gold rises 1% as US-Israel strikes on Iran raise regional temperature
March 2 (Reuters) - Gold XAU= prices rose more than 1% on Monday, with investors picking up the metal's safe-haven properties after the U.S. and Israel launched large-scale strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei and escalating geopolitical tensions in the region.Bullion, ...Reuters
5 hours ago
US gasoline prices to rise after attack on Iran, analysts warn
By Shariq Khan and Jarrett Renshaw NEW YORK, March 1 (Reuters) - U.S. average retail gasoline prices are set to break above $3 a gallon on Monday for the first time in more than three months as the conflict between the United States and major oil producer Iran interrupts global oil flows, analyst...Reuters
6 hours ago
Gulf businesses reel as Iran strikes trigger regional shutdowns
Gulf markets tumble as trading halts and volatility surgesRamadan networking events cancelled or postponedAirport and port shutdowns hit tourism and transit operationsBy Hadeel Al Sayegh, Federico Maccioni, Rachna Uppal and Ateeq Shariff DUBAI, March 1 (Reuters) - Iran's retaliatory strikes a...Reuters
8 hours ago
Three tankers damaged in Gulf and one seafarer killed as US-Iran conflict escalates
Hundreds of ships drop anchor owing to growing risksWar risk insurance rates expected to surge Iran says it has halted navigation through Strait of Hormuz By Yousef Saba, Jaidaa Taha and Jonathan Saul DUBAI/LONDON, March 1 (Reuters) - At least three tankers were damaged off the Gulf coast and one...Reuters
9 hours ago
Shipping companies divert vessels around Cape of Good Hope after strikes on Iran
Maersk, Hapag-Lloyd suspend transit through Strait of HormuzMaersk had last month begun gradual return through Suez CanalMediterranean Shipping Company suspends cargo bookings to regionMSC, CMA CGM instruct vessels in and around Gulf to seek shelterBy Louise Rasmussen and Kanjyik Ghosh March 1 (R...Reuters
10 hours ago
Hapag-Lloyd introduces war risk surcharge for Gulf cargo due to Middle East disruption
BERLIN, March 1 (Reuters) - German shipping group Hapag-Lloyd is introducing a war risk surcharge for cargo to and from the Upper Gulf, Arabian Gulf and Persian Gulf from March 2 until further notice due to the dynamic situation around the Strait of Hormuz and disruption.The charge will be $1,500 p...Reuters
11 hours ago
Hapag-Lloyd: IMX service rerouted via Cape of Good Hope
BERLIN, March 1 (Reuters) - German shipping group Hapag-Lloyd is rerouting its IMX container shipping service that connects India and the Middle East with the Mediterranean via the Cape of Good Hope due to the security situation, it said on Sunday."Due to the deteriorating security situation in ...Reuters
11 hours ago
Crew member killed after projectile hits MKD VYOM tanker off Oman, manager says
LONDON, March 1 (Reuters) - A projectile hit the Marshall Islands–flagged product tanker MKD VYOM killing a crew member on board as the vessel sailed off the coast of Oman, manager V.Ships said on Sunday."The vessel suffered an explosion and subsequent fire after being struck by a suspected proj...Reuters
11 hours ago
