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Brazil beef exporters brace for fallout from Middle East conflict
SAO PAULO, March 3 (Reuters) - Brazilian beef exporters are worried about a potentially prolonged conflict in the Middle East, which is the destination of about 10% of Brazil's beef shipments, Roberto Perosa, head of Abiec, told Reuters in an interview on Tuesday.Perosa said Abiec companies esti...Reuters
9 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 crisisChina and India are major recipients of Iraqi crude exportsOil ministry says output reduction won't affect refinery operationsBy Ahmed Rasheed and Aref Mohammed BAGHDAD/BASRA, March 3 (Reuters) - Iraq has cut oil production by n...Reuters
13 minutes ago
Venezuela's oil exports fell 6.5% in February with loss of Chinese market, data shows
By Marianna Parraga March 3 (Reuters) - Venezuela's oil exports fell 6.5% in February from a month earlier to some 737,000 barrels per day as more shipments to the United States and Europe could not fully offset the loss of what used to be the OPEC country's main market, China, according ...Reuters
17 minutes ago
PRECIOUS-Gold retreats on strong dollar, tempered rate-cut bets
Iran war enters fourth dayHigher energy prices amid MidEast tensions fuel inflation woesPlatinum down over 8%By Ashitha Shivaprasad March 3 (Reuters) - Gold prices drifted lower on Tuesday, weighed by a stronger dollar and dimming prospects for rate cuts as inflation concerns intensified amid fea...Reuters
39 minutes ago
Von der Leyen, Zelenskiy discuss Druzhba pipeline at heart of loan standoff, EU Commission says
BRUSSELS, March 3 (Reuters) - European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelenskiy on Tuesday discussed the Druzhba pipeline, which is at the centre of a dispute that pits Ukraine against Hungary and Slovakia and has held up approval of a 90 billion euro EU ...Reuters
43 minutes ago
Iraq says cut in crude oil production due to Strait of Hormuz closure will not affect refineries' operations
CAIRO, March 3 (Reuters) - Iraq said on Tuesday that the reduction in its crude oil production due to the Middle East conflict, which has stopped exports through the Strait of Hormuz, will not affect operations at its refineries, the state news agency reported citing the oil ministry. Iraq has ...Reuters
52 minutes ago
Israeli military says it struck a compound in Iran operated to develop capabilities for nuclear weapons
March 3 (Reuters) - The Israeli military said on Tuesday that it had struck a compound in Iran that it said aimed to develop "necessary capabilities" for nuclear weapons, without providing any evidence for the assertion.Reuters
an hour ago
Venezuela's oil exports fell 6.5% in February, shipping data say
March 3 (Reuters) - Venezuela's oil exports fell to some 737,000 barrels per day (bpd) in February as more shipments to the United States and Europe did not fully offset the loss of what used to be the OPEC country's main market, China, according to vessel monitoring data and documents from ...Reuters
an hour ago
Britain sends destroyer and helicopters with counter-drone tech to Cyprus
LONDON, March 3 (Reuters) - Britain is deploying HMS Dragon, an air defence destroyer, to Cyprus after the runway of its Akrotiri base there was hit by an Iranian-made drone. Prime Minister Keir Starmer said on Tuesday he was sending the naval vessel along with helicopters with counter-drone capabil...Reuters
an hour ago
US weighs military cover for Hormuz tankers, Politico reports
March 3 (Reuters) - The Trump administration is considering providing military protection to oil and gas tankers traversing the Strait of Hormuz, Politico reported on Tuesday.Reuters could not immediately confirm the report.Reuters
an hour ago
Oil prices soar 6% to highest since 2024 as Middle East conflict widens
Middle East conflict disrupts oil, gas shipments, raising supply concernsIraq cuts oil production by 1.5 million bpd, may increase to 3 million bpdIndia, Indonesia seek alternative energy supplies amid Strait of Hormuz disruptionBy Siddharth Cavale and Scott DiSavino NEW YORK, March 3 (Reuters) -...Reuters
an hour ago
WRAPUP 7-Middle East conflict widens as Israeli, US strikes again hit Iran; oil soars, shares slide
US shuts embassies in Saudi Arabia, Kuwait and LebanonSource 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) - Israeli and U.S. forces pounded targets across Iran on T...Reuters
an hour ago
Standard Chartered raises 2026 Brent forecasts following Middle East turmoil
March 3 (Reuters) - Standard Chartered hiked its 2026 Brent forecasts and sees asymmetric upside risk to its projections if the Middle East conflict escalates further and impairs production from Iran or other regional producers.The bank raised its first-quarter 2026 Brent forecast to $74 per barrel ...Reuters
2 hours ago
No easy way out for tens of thousands looking to leave Gulf amid Iran conflict
War in the Middle East rages from Beirut to TehranEvacuations in the Gulf organized by several governmentsAirspace closures across Gulf limit options to leave regionOman and Saudi Arabia offer alternative travel routesBy Federico Maccioni, Lucy Craymer and Rachna Uppal DUBAI, March 3 (Reuters) - ...Reuters
2 hours ago
US considering oil tanker insurance support to ease Middle East crude shipments, sources say
By Jarrett Renshaw and Timothy Gardner WASHINGTON, March 3 (Reuters) - President Donald Trump will review a set of policy options on Tuesday aimed at controlling energy prices during the escalating Middle East conflict, including a proposal for the U.S. government to help oil tankers in the r...Reuters
2 hours ago
Oman urges ceasefire in Iran conflict, says diplomatic 'off-ramps' available
CAIRO, March 3 (Reuters) - Oman's foreign minister reaffirmed on Tuesday his country's call for an immediate ceasefire in the conflict between Iran and the U.s. and Israel and a return to responsible regional diplomacy."There are off-ramps available, let’s use them," Badr Albusaidi s...Reuters
2 hours ago
Exxon to send team to Venezuela in a few weeks, executive says
By Sheila Dang and Tanay DhumalHOUSTON, March 3 (Reuters) - Exxon Mobil XOM.N aims to send a technical team to Venezuela in a few weeks after working through logistical and security arrangements, an executive said on Tuesday. The U.S. oil major will work with the Venezuelan government and if the rig...Reuters
2 hours ago
Standard Chartered raises 2026 Brent forecasts, sees asymmetric upside risk if conflict escalates
March 3 (Reuters) - Standard Chartered sees asymmetric upside risk to its forecasts if the Middle East conflict escalates further and impairs production from Iran or other regional producers.The bank raised its first-quarter 2026 Brent forecast to $74 per barrel from $62, its second-quarter forecast...Reuters
2 hours ago
