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Gold falls to near $5,100 as inflation fears weigh amidst Middle East conflict
Gold price (XAU/USD) faces some selling pressure near $5,100 during the early Asian session on Wednesday. The precious metal falls amid a renewed US Dollar (USD) demand and dimming prospects for US rate cuts.
Fxstreet
25 minutes ago
Investors, US crude producers scramble to lock in oil price spike
HOUSTON, March 3 (Reuters) - Investors rushed to lock in a spike in oil prices this week, resulting in a record volume of energy futures and options contracts changing hands on Monday, the first trading day after Israel and the U.S. bombed Iran and Tehran retaliated.Reuters
27 minutes ago
US has destroyed 17 ships and hit almost 2,000 targets in Iran, military says
March 3 (Reuters) - The U.S. military has destroyed 17 Iranian ships, including a submarine, and struck nearly 2,000 targets in Iran, the commander of the U.S. Central Command said on Tuesday."Today, there is not a single Iranian ship underway in the Arabian Gulf, Strait of Hormuz, or Gulf of Om...Reuters
28 minutes ago
Canada advocates buyers' alliance to tackle critical minerals supply concentration
Canada proposes production alliance instead of price floors for critical mineralsG7 countries aim to counter China's dominance in rare earthsCanada signs 30 deals for C$12.6 billion in mining investmentsBy Divya Rajagopal TORONTO, March 3 (Reuters) - Canada believes that the best way to addr...Reuters
35 minutes ago
UK self-driving startup Oxa raises $103mln to scale up at ports, airports
By Nick Carey LONDON, March 4 (Reuters) - British self-driving startup Oxa has raised $103 million from investors to scale up autonomous vehicle operations focused on ports, airports, warehouses and other industrial applications, it said on Wednesday.Oxa, based in Oxford, central England, said th...Reuters
38 minutes ago
WRAPUP 3-Global oil and gas prices soar as Iran crisis disrupts shipping, 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
an hour ago
Platts to consider alternative routes for Middle East freight assessments as Iran crisis disrupts shipping
HOUSTON, March 3 (Reuters) - S&P Global Platts said it will consider alternative routes for Middle East freight assessments, citing shipping disruptions from the U.S.-Israeli war on Iran. The war has halted energy exports from the Middle East, with Tehran attacking ships and energy facilities. I...Reuters
an hour ago
Facebook largely back up after brief outage in the US, Downdetector shows
March 3 (Reuters) - Meta Platforms' META.O Facebook was largely back up after an outage that affected thousands of users in the U.S. on Tuesday, according to Downdetector.com.At its peak, there were more than 11,000 reports of issues with the social media platform in the U.S., before coming down...Reuters
an hour ago
MSC to offload all cargo bound for Gulf at nearest safe seaport
By Lisa Baertlein LOS ANGELES, March 3 (Reuters) - MSC, the world's largest carrier of ocean container cargo, said on Tuesday all cargo bound for ports in the Gulf will be offloaded at the nearest safe seaport due to ongoing hostilities in the Middle East following U.S. and Israeli attacks on...Reuters
an hour ago
CIF/FOB Gulf Grain-Corn, soy basis flat-lower on weaker barge freight, firm futures
CHICAGO, March 3 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals were flat to weaker on Tuesday on higher futures prices and easing freight costs, grain merchants said.Spot barge freight rates on Midwest rivers declined on the Illinois River and the Mississ...Reuters
an hour ago
Brazil court blocks Equinox Gold mineral rights transfer to CMOC
BRASILIA, March 3 (Reuters) - A Brazilian court on Tuesday blocked Canadian firm Equinox Gold EQX.TO from transferring mineral rights for gold mines it sold in the Latin American country to Chinese metals miner and processor CMOC Group 603993.SS, according to a court decision.Equinox Gold concluded ...Reuters
2 hours ago
Facebook down for thousands of users in the US, Downdetector shows
March 3 (Reuters) - Meta Platforms' META.O Facebook was down for thousands of users in the U.S. on Tuesday, according to Downdetector.com.There were more than 11,500 reports of issues with the social media platform as of 05:33 p.m. ET, according to Downdetector, which tracks outages by collating...Reuters
2 hours ago
Trump orders oil tanker insurance support, says Navy could escort ships in Gulf
Trump aims to stabilize oil markets amid Middle East conflictRising war-risk premiums affect shipping and insurance costsHigher oil prices could impact Republican midterm election prospectsBy Jarrett Renshaw and Timothy Gardner WASHINGTON, March 3 (Reuters) - The U.S. Navy could begin escorti...Reuters
2 hours ago
CANADA-CRUDE-Discount on Western Canada Select narrows again as Iran war restricts Middle East supplies
March 3 (Reuters) - The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures CLc1 narrowed again on Tuesday as the U.S.-Israeli war on Iran continues to tighten global sour spreads.WCS for April delivery in Hardisty, Alberta, settled at $12.40 a bar...Reuters
2 hours ago
LIVESTOCK-CME cattle mixed, supported by higher beef prices
By Heather SchlitzCHICAGO, March 3 (Reuters) - Chicago Mercantile Exchange live and feeder cattle futures were mixed on Tuesday on support from strengthening boxed beef prices amid quiet cash trade, analysts said.CME April live cattle futures LCJ26 closed 1.025 cents higher to 234.125 cents per poun...Reuters
2 hours ago
Oil prices jump nearly 5%, settle at highest since January 2025 on Middle East conflict
Middle East conflict disrupts oil, gas shipmentsIraq cuts oil output by 1.5 million bpd, may double thatIndia, Indonesia seek alternative energy suppliesAPI data shows U.S. crude stocks rose last week, beats estimatesBy Siddharth Cavale and Scott DiSavino NEW YORK, March 3 (Reuters) - Oil prices ...Reuters
2 hours ago
Trump, Rubio offer conflicting reasons for US entry into Iran war
Trump claims Iran was about to strike first, contradicting RubioConservatives criticize U.S. involvement in Iran warWhite House in damage control over conflicting war rationalesBy Nandita Bose, Steve Holland and Nathan Layne WASHINGTON, March 3 (Reuters) - President Donald Trump said on Tuesday h...Reuters
2 hours ago
Brazil court blocks Equinox Gold mineral rights transfer to CMOC
BRASILIA, March 3 (Reuters) - A Brazilian court blocked on Tuesday Canadian firm Equinox Gold EQX.TO from transferring mineral rights for gold mines it sold in the Latin American country to Chinese metals miner and processor CMOC Group 603993.SS, according to a court decision.Equinox Gold concluded ...Reuters
2 hours ago
US Cash Crude-Mars hits 5-year high as Iran war disrupts global supplies
HOUSTON, March 3 (Reuters) - Flagship U.S. offshore crude Mars Sour traded at its highest since May 2020 on Tuesday, dealers said, as war in Iran threatened global supplies of heavy, sour grades. Mars Sour jumped 75 cents to a midpoint of a $3.75 premium to U.S. crude futures on Tuesday. Traders sai...Reuters
3 hours ago
