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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.
Russia's Rosatom halts operations at Bushehr nuclear plant in Iran, Ifax reports
MOSCOW, March 3 (Reuters) - Russian state nuclear corporation Rosatom has halted operations at the nuclear power plant in the Iranian city of Bushehr, its head said on Tuesday, the Interfax news agency reported.Alexei Likhachev said there were more than 600 personnel at the Bushehr plant and that th...Reuters
15 minutes ago
Saudi Aramco seeks to reroute crude away from Strait of Hormuz, sources say
Aramco instructs some buyers to load at Red Sea port of YanbuEast-West pipeline capacity limited, potential target for attacks, analysts sayGlobal oil prices rise amid attacks by and on IranBy Alex Lawler, Nidhi Verma and Ahmad GhaddarLONDON/NEW DELHI, March 3 (Reuters) - Saudi oil giant Aramco 2222...Reuters
17 minutes ago
Village Super Market Q2 sales rise, helped by Winter Storm Fern
OverviewSupermarket chain's Q2 fiscal 2026 sales rose 6.9%, driven by same store and digital salesNet income for Q2 fiscal 2026 increased 6% yr/yrGross profit margin decreased due to lower rebates and increased promotional spendingOutlookCompany did not provide specific guidance for future quart...Reuters
31 minutes ago
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
33 minutes ago
WRAPUP 5-Iran war enters fourth day in 'smoke and blood' as markets slide
U.S. shuts embassies in Saudi Arabia and KuwaitSource says Israel planned two-week campaign but moving fasterMarkets tumble as Middle East energy is disruptedBy Parisa Hafezi and Alexander Cornwell DUBAI/TEL AVIV, March 3 (Reuters) - Explosions tore through Tehran and Beirut on Tuesday and financ...Reuters
37 minutes ago
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
41 minutes ago
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
42 minutes ago
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
48 minutes ago
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
50 minutes ago
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
55 minutes ago
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
an hour ago
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
an hour ago
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
an hour ago
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
an hour ago
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
an hour ago
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. The announcement follows QatarEnergy's announce...Reuters
an hour ago
Oil prices keep climbing as expanding conflict heightens supply risks
Brent and WTI benchmarks gain more than $4 Vessels avoid Strait of Hormuz as freight rates soarCrude prices to remain elevated over coming days, say analysts By Shadia Nasralla LONDON, March 3 (Reuters) - Crude oil benchmarks rose about 8% on Tuesday, soaring for a third session as the U.S.-Israe...Reuters
2 hours ago
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
2 hours ago
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
2 hours ago
