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Goldman Sachs raises Q2 oil price forecast by $10 to $76/bbl
March 4 (Reuters) - Goldman Sachs GS.N raised on Wednesday its second-quarter 2026 average price forecast for Brent crude oil by $10 to $76 per barrel and for WTI by $9 to $71. The bank also revised its Q4 2026 forecasts for Brent and WTI to $66 and $62, respectively and for 2027 to $70 and $66, res...Reuters
15 minutes ago
Indonesia's Cepu Block gains additional 7,500 BPD oil following water shut-off programme
By Bernadette ChristinaJAKARTA, March 4 (Reuters) - Indonesia's upstream oil and gas regulator SKK Migas said on Wednesday that well services activity in the ExxonMobil-operated Cepu block has boosted crude oil output by 7,500 barrels per day. A water shut-off programme at the Banyu Urip A07 wel...Reuters
21 minutes ago
PRECIOUS-Gold climbs over 1% as widening Middle East war fuels safe‑haven demand
Silver, platinum up over 2%Oil, gas prices surge as Middle East energy shipments stallHigher oil prices complicates outlook for monetary easing, analyst saysBy Noel John March 4 (Reuters) - Gold prices rose over 1% on Wednesday, rebounding from a more than one-week low hit in the previous session...Reuters
21 minutes ago
ANZ Raises End Of Q1 2026 Forecasts To $90/bbl For Brent Crude And $17/mmbtu For LNG
March 4 (Reuters) - ANZ: RAISES END OF Q1 2026 FORECASTS TO $90/BBL FOR BRENT CRUDE AND $17/MMBTU FOR LNGSAYS TIGHTER SUPPLY CONDITIONS WILL SEE PRICES REMAIN HIGH AND VOLATILE WHILE TENSIONS IN MIDDLE EAST PERSISTReuters
37 minutes ago
Hormuz shutdown could force Iraq, Kuwait to curb oil output within days, JP Morgan says
March 4 (Reuters) - Crude oil supplies from Iraq and Kuwait could start shutting in within days if the Strait of Hormuz remains closed, potentially cutting 3.3 million barrels per day (bpd) by day eight of the Middle East conflict, J.P. Morgan analysts said in a note. Iraq and Kuwait have rough...Reuters
51 minutes ago
AD Ports Group Says Impact On Maritime & Shipping Cluster Expected To Be Limited
March 4 (Reuters) - Abu Dhabi Ports Company PJSC ADPORTS.AD:AD PORTS GROUP - CONFIRMS BUSINESS CONTINUITY AMID REGIONAL DEVELOPMENTSAD PORTS GROUP - GROUP EXPECTS INCREASED VOLUMES ACROSS ITS DIVERSIFIED GLOBAL MARITIME NETWORKAD PORTS GROUP - SHIFTING TRADING ROUTES DUE TO EVOLVING REGIONAL DEVELOP...Reuters
an hour ago
WRAPUP 1-US assault on Iran ahead of schedule, says US Middle East Commander
U.S. and Israel strikes degrade Iran's defences, says US admiralTehran becomes 'ghost town', civilian casualties riseGlobal markets slide, energy prices soarMore than 20,000 flights cancelled in Middle EastGovernments rush to bring stranded travellers homeBy Parisa Hafezi and Alexander C...Reuters
an hour ago
Oil prices rise 1% as Iran crisis disrupts Middle East supply
Geopolitical factors remain near-term key driver, analyst says U.S. crude stocks up 5.6 million barrels last week, sources sayBy Arathy Somasekhar and Trixie Yap March 4 (Reuters) - Oil prices rose 1% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gai...Reuters
2 hours ago
GRAINS-CBOT soybeans edge lower on China demand uncertainty, Brazil harvest
BEIJING, March 4 (Reuters) - Chicago soybean futures edged lower on Wednesday, pressured by uncertain Chinese demand and the ongoing harvest in Brazil.The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 lost 0.09% to $11.69-1/2 a bushel by 0400 GMT.The Middle East conflict, mea...Reuters
2 hours ago
PRECIOUS-Gold climbs over 1% as US-Israeli strikes on Iran fuel safe‑haven demand
Silver, platinum up over 2%Oil, gas prices surge as Middle East energy shipments stallHigher oil prices complicates outlook for monetary easing, analyst saysBy Noel John March 4 (Reuters) - Gold prices rose over 1% on Wednesday, rebounding from a more than one-week low hit in the previous session...Reuters
3 hours ago
Brazil court blocks mineral rights transfer in Equinox-CMOC gold deal
SAO PAULO/BRASILIA, March 3 (Reuters) - A Brazilian court on Tuesday halted the transfer of mineral rights tied to a gold asset sale from Canada's Equinox Gold EQX.TO to Chinese metals miner and processor CMOC 603993.SS, according to a court ruling. In January, Equinox Gold concluded the sale...Reuters
3 hours ago
GRAINS-Soybeans rise on firm crude, but Brazil harvest caps gains
BEIJING, March 4 (Reuters) - Chicago soybean futures edged higher on Wednesday, supported by firmer crude oil prices amid the ongoing Middle East conflict, though gains were limited by uncertain Chinese demand and the ongoing harvest in Brazil.Wheat prices also rose despite improving weather conditi...Reuters
4 hours ago
Oil rises over $1 as Iran crisis disrupts Middle East supply
By Arathy Somasekhar March 4 (Reuters) - Oil prices rose more than $1 on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East output and halted exports from the region.Brent LCOc1 rose $1.11, or 1.4%, to $82.53 a barrel, after closing at its highest since January 2025 on Tuesday. U.S. ...Reuters
4 hours ago
REFILE-UKMTO reports incidents affecting ships near UAE and Oman
March 3 (Reuters) - The United Kingdom Maritime Trade Operations (UKMTO) said it received on Tuesday reports of incidents affecting ships near the United Arab Emirates and Oman.The Royal Navy-operated UKMTO said the master of a vessel located 7 nautical miles (12.96 km) east of UAE's Fujairah re...Reuters
4 hours ago
TECHNICALS-US oil eyes $77.98; Middle East war to last a few weeks
For more technical analyses, click SINGAPORE, March 4 (Reuters) - U.S. oil CLc1 may revisit its previous session's high of $77.98 per barrel, as suggested by its wave pattern and a projection analysis.The contract is riding on wave 5, which is capable of travelling to the peak of the wave 3 at $...Reuters
4 hours ago
PRECIOUS-Gold climbs 1% as U.S.-Israeli strikes on Iran fuel safe‑haven demand
March 4 (Reuters) - Gold prices rose 1% on Wednesday, rebounding from a more than one-week low hit in the previous session, as escalating U.S.-Israeli air strikes against Iran heightened geopolitical uncertainty and supported safe-haven demand.FUNDAMENTALSSpot gold XAU= gained 1% to $5,138.46 per ou...Reuters
5 hours ago
WTI jumps to near $74.50 on Middle East conflict, Strait of Hormuz closure threatens oil supply
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.50 during the early Asian trading hours on Wednesday. The WTI jumps to its highest since June 2025 as a widening conflict between the US, Israel, and Iran severely disrupts global energy supplies.
Fxstreet
5 hours ago
UK Maritime Trade Operations receives a report of an incident east of UAE's Fujairah
March 4 (Reuters) - The United Kingdom Maritime Trade Operations said it received a report of an incident 7 nautical miles east of Fujairah in the United Arab Emirates.The master of a vessel reported that it was struck by an unknown projectile causing damage to the steel plating, UKMTO said. The cre...Reuters
5 hours ago
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
6 hours ago
