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Oil prices soar 8% to highest since 2024 as Middle East conflict widens
Brent and WTI benchmarks gain more than $6 a barrelVessels avoid Strait of Hormuz as insurance cancel coverage, rates soarCrude prices to remain elevated over coming days, say analysts By Siddharth Cavale and Scott DiSavino NEW YORK, March 3 (Reuters) - Oil prices soared about 8% to their hig...Reuters
5 minutes ago
EU pushes barely available green steel as auto emissions fix
Low-carbon steel part of 2035 EU automotive targetsGreen steel projects face delays due to costly green hydrogenAuto industry criticises EU plan for reliance on external developmentsBy Marie Mannes, Greta Rosen Fondahn and Nick Carey STOCKHOLM/LONDON, March 3 (Reuters) - Buying expensive steel ma...Reuters
16 minutes ago
FACTBOX-US-Israeli war on Iran causes major oil, gas disruptions
March 3 (Reuters) - The U.S.-Israel war on Iran has disrupted oil and natural gas exports from the Middle East and forced production stoppages from Qatar to Iraq.Below are the main energy disruptions so far. PRODUCTION SHUTDOWNSOPEC's second-largest producer, Iraq, slashes output: Iraq has c...Reuters
16 minutes ago
EU pushes barely available green steel as auto emissions fix
Low-carbon steel part of 2035 EU automotive targetsGreen steel projects face delays due to costly green hydrogenAuto industry criticises EU plan for reliance on external developmentsBy Marie Mannes, Greta Rosen Fondahn and Nick Carey STOCKHOLM/LONDON, March 3 (Reuters) - Buying expensive steel ma...Reuters
16 minutes ago
No radioactive leakage recorded at Iran's nuclear site hit in US-Israeli strikes, Iranian media reports
CAIRO, March 3 (Reuters) - No radioactive leakage has been recorded at the Natanz nuclear facility after U.S. and Israeli strikes, Iranian media reported on Tuesday.Iran's ambassador to the U.N. nuclear watchdog said on Monday that the facility had been struck during military operations by the U...Reuters
18 minutes ago
Qatar curtailment exacerbates Iran war aluminium fears
QatarEnergy says has halted production of aluminiumLME aluminium prices jump 3.8% to one-month highNorsk Hydro says implications for Qatalum smelter unclear OSLO/LONDON, March 3 (Reuters) - The impact of the U.S.-Israeli attacks on Iran on the aluminium sector deepened on Tuesday after QatarEnerg...Reuters
25 minutes ago
Iraq reduces oil output, more cuts to come if Hormuz disruptions persist, Iraqi oil officials say
Iraq cuts production by nearly 1.5 million bpd due to Iran crisisBP, PetroChina and CNOOC operate fields in Iraq China and India are major recipients of Iraqi crude exportsBy Ahmed Rasheed and Aref Mohammed BAGHDAD/BASRA, March 3 (Reuters) - Iraq has cut oil production by nearly 1.5 million barre...Reuters
44 minutes ago
NextEra expects to add up to 30 gigawatts of power for data centers by 2035
March 3 (Reuters) - NextEra Energy NEE.N, the largest U.S. electricity company, expects to build between 15 and 30 gigawatts of new generation capacity for U.S. data centers in the next nine years, it said in a presentation on Tuesday.Access to power has been the biggest impediment to Big Tech's...Reuters
47 minutes ago
Shipping rates at Yanbu, Saudi Arabia double as Aramco seeks to divert oil from Hormuz to Red Sea, sources say
HOUSTON, March 3 (Reuters) - Shipping rates at Yanbu on Saudi Arabia's western Red Sea coast more than doubled to $28 million per oil tanker as Aramco seeks to divert oil from the Strait of Hormuz to the Red Sea, traders and brokers said on Tuesday. Some oil tanker fixtures to Yanbu are still fa...Reuters
55 minutes ago
US natural gas futures leap 6% as Middle East conflict disrupts global supplies
US natural gas futures rise amid Middle East conflictWaha Hub prices remain negative due to pipeline constraintsUS LNG exports decline slightly from February recordBy Scott DiSavino NEW YORK, March 3 (Reuters) - U.S. natural gas futures jumped about 6% to a two-week high on Tuesday on soaring oil...Reuters
an hour ago
WRAPUP 6-Tehran and Beirut judder from US-Israeli attacks as oil soars, shares slide
US 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 stock ma...Reuters
an hour ago
Citgo Corpus Christi, Texas Refinery East Plant Reports Planned Maintenance
March 3 (Reuters) - CITGO PDVSAC.UL:REPORTS PLANNED MAINTENANCE ACTIVITIES WILL BE OCCURRING FOR AN EXTENDED PERIOD OF TIME WITH SOME PERIODIC FLARING AT ITS CORPUS CHRISTI, TEXAS REFINERY EAST PLANTSOURCE: COMMUNITY ALERTREFINERY CAPACITY: 165,000 BARRELS PER DAYReuters
an hour ago
PRECIOUS-Gold retreats on strong dollar, delayed rate-cut expectations
Iran war enters fourth dayUS dollar hits over one-month high Platinum down over 12% By Ashitha Shivaprasad March 3 (Reuters) - Gold prices drifted lower on Tuesday, weighed down by a stronger dollar and fading prospects of an interest rate cut as inflation concerns intensified against the backdro...Reuters
2 hours ago
London marine insurers widen high-risk zone in Mideast Gulf as conflict escalates
LONDON, March 3 (Reuters) - London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday.Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd'...Reuters
2 hours ago
ROI-Risks to Western aluminium supply rise as Iran war escalates: Andy Home
By Andy Home LONDON, March 3 (Reuters) - It is not just oil and gas that flow through the Strait of Hormuz, the Gulf's key shipping choke point now threatened by the war with Iran.The region is also a significant producer of aluminium, accounting for over 8% of global output last year, accord...Reuters
2 hours ago
Russia halts construction work at Bushehr nuclear plant due to strikes on Iran
MOSCOW, March 3 (Reuters) - Russia's state nuclear corporation, Rosatom, has halted construction work at new units of Iran's nuclear power plant in the port city of Bushehr because of the U.S.-Israeli air assault on Iran, its chief Alexei Likhachev said on Tuesday.Likhachev had earlier warne...Reuters
2 hours ago
WRAPUP 2-Global energy prices soar as Iran crisis disrupts shipping, oil and gas production
Hormuz shut for fourth day, five tankers hitUS gasoline prices rise above $3/gallonBessent, Wright to announce US plans to mitigate oil spikeIraq cuts oil production Saudi Aramco seeks alternative routesBy Yousef Saba and Ahmed Elimam LONDON, March 3 (Reuters) - Global oil and gas prices jumped o...Reuters
2 hours ago
CBOT Trends-Soy up 10-12 cents, corn up 4-6 cents, wheat up 3-5 cents
CHICAGO, March 3 (Reuters) - The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Tuesday: WHEAT - Up 3 to 5 cents per bushelCBOT wheat rebounded after ending lower on Monday in a setback from a July ...Reuters
2 hours ago
SHORT TAKE-US CFTC ships prediction markets rule proposal to Trump budget office
By Chris PrenticeNEW YORK, March 3 (Reuters) - The U.S. Commodity Futures Trading Commission has sent a rulemaking plan for prediction markets to the President's Office of Management and Budget, kicking off the process to write new rules for the controversial, but fast-growing markets.WHY IT’S I...Reuters
2 hours ago
