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Nigeria reviews oil, market exposure amid rising Middle East tension
By Camillus EbohABUJA, March 11 (Reuters) - Nigeria's government is monitoring escalating tensions in the Middle East as it assesses potential risks to the country's economic stability, the finance ministry said on Wednesday.Finance Minister Wale Edun convened the Economic Management Team to...Reuters
5 minutes ago
JOGMEC sells offtake option for Vicuna's copper project in Argentina
TOKYO, March 11 (Reuters) - Japan Organization of Metals and Energy Security (JOGMEC) said on Wednesday it had sold its option to take delivery of 40% of future copper concentrate output from Vicuna's Josemaria project in Argentina to Mitsui & Co 8031.T for an undisclosed sum. Mitsui secured...Reuters
6 minutes ago
EXCLUSIVE-Shell, TotalEnergies and others declare FM to their clients who take LNG from Qatar - sources say
LONDON, March 11 - Some clients of QatarEnergy, including Shell SHEL.L, TotalEnergies TTEF.PA, and other companies in Asia have declared force majeure to their customers who take Qatari liquefied natural gas (LNG) through them, three sources told Reuters on Wednesday.Qatar, the world's second-la...Reuters
12 minutes ago
WRAPUP 4-Iran fires back at bases and ships despite war's most intensive strikes
Three ships hit in the GulfIAE to propose fastest ever release of strategic oil reservesExplosions in Bahrain and DubaiBy Parisa Hafezi and Alexander Cornwell DUBAI/TEL AVIV, March 11 (Reuters) - Iran fired at Israel and targets across the Middle East on Wednesday, while at least three ships were...Reuters
12 minutes ago
WRAPUP 1-ECB policymakers acknowledge war risk, promise to keep inflation in check
Higher energy price push up inflation, slow growthMarkets see more than 1 rate hike this yearPolicymakers promise not to let inflation get entrenchedNo rate change coming at March 19 meeting FRANKFURT, March 11 (Reuters) - European Central Bank policymakers acknowledged on Wednesday the economic ...Reuters
17 minutes ago
WTI Oil gains on Middle East turmoil while G7, IEA weigh strategic reserve measures
West Texas Intermediate (WTI) US Oil trades around $86.30 on Wednesday at the time of writing, up 1.20% on the day as markets remain focused on escalating geopolitical tensions in the Middle East and potential policy responses aimed at stabilizing global energy supply.
Fxstreet
18 minutes ago
METALS-Aluminium rallies, spotlight on Middle East turmoil
By Pratima Desai BEIJING, March 11 (Reuters) - Aluminium prices rallied on Wednesday as focus switched to pricing in global supply losses from the Middle East conflict, after a brief selloff triggered by comments from U.S. President Donald Trump on the Iran war.Benchmark aluminium CMAL3 on the Lo...Reuters
20 minutes ago
IEA to recommend record release of strategic oil stocks because of Iran war, sources say
IEA plans to release 400 million barrels over at least two months, sources sayG7 leaders to discuss strategic reserves amid rising oil pricesOil prices rebound as markets doubt IEA's plan effectivenessBy America Hernandez and Alex Lawler PARIS/LONDON, March 11 (Reuters) - The International En...Reuters
21 minutes ago
Hungary sends Druzhba fact-finding mission to Ukraine, deputy minister says
BUDAPEST, March 11 (Reuters) - A Hungarian fact-finding mission is on its way to Ukraine with a view to creating the conditions for restarting oil flows through the Druzhba pipeline, Hungarian Deputy Energy Minister Gabor Czepek said in a Facebook post on Wednesday.He said the mission was also suppo...Reuters
26 minutes ago
IEA to announce oil stock release recommendation at 1300 GMT, may total 400 million barrels, sources say
March 11 (Reuters) - The International Energy Agency is set to announce its recommendation at 1300 GMT on releasing oil from strategic reserves, two sources with knowledge of IEA discussions said on Wednesday.The release may total 400 million barrels, the sources said.The IEA did not immediately res...Reuters
32 minutes ago
PRECIOUS-Gold holds steady as rising oil prices, inflation woes cap safe-haven demand
Oil prices climb over 5%US, Israel trade airstrikes with IranUS dollar, 10-year Treasury yields riseUS Consumer Price Index data due later in the dayBy Ishaan Arora March 11 (Reuters) - Gold steadied on Wednesday, as higher oil prices reignited inflation worries and tempered hopes of rate cut...Reuters
52 minutes ago
ANALYSIS-Prices for new cars have soared. Here’s one big reason why.
Automakers' focus on higher-end US models has driven average selling prices to $47,000Many lower and middle-income car shoppers have been relegated to the used-car lotThe affordability problem is a risk to US carmakers as Chinese brands expand globallyBy Nora Eckert and Kalea Hall March 11 (R...Reuters
53 minutes ago
RPT-EXCLUSIVE-Chevron, Shell closing in on first big oil production deals in Venezuela since US captured Maduro, sources say
Both companies close to clinching deals in prime oil areasChevron would expand to Ayacucho 8 area in the OrinocoShell to work in Monagas North's areas of Carito, PiritalGovernment could complete contract review as soon as this monthBy Marianna Parraga and Deisy Buitrago HOUSTON/CARACAS, March...Reuters
53 minutes ago
IEA to recommend release of strategic oil stocks on Iran war, sources say
LONDON/PARIS, March 11 (Reuters) - The International Energy Agency is recommending a release of oil from strategic reserves that would exceed 100 million barrels over the first month, two sources with knowledge of IEA discussions said on Wednesday.The IEA did not immediately respond to a request for...Reuters
56 minutes ago
Kremlin says it is in constant touch with Iranian leaders
MOSCOW, March 11 (Reuters) - Russia is constantly in touch with the Iranian leadership and willing to contribute to efforts to stabilise the region, the Kremlin said on Wednesday."Here I can only say that we are in constant contact with the Iranian side and with the Iranian leadership," Krem...Reuters
56 minutes ago
US CPI: Energy shock complicates Fed path – Deutsche Bank
Deutsche Bank’s US economists flag February CPI as a key release for Federal Reserve expectations after the recent Oil shock delayed rate-cut pricing. They anticipate tariff-related strength in core goods and higher energy costs lifting headline inflation, while core CPI is seen steady.Fxstreet
an hour ago
Oil Shrugs Potential Iea Reserves Release, Gains on Supply Worries
March 11 (Reuters) - Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency's reported plan for a record release of oil reserves could offset potential supply shocks from the U.S.-Israeli conflict with Iran.Reuters
an hour ago
EUROPE GAS-European gas prices rise on fears of LNG supply crunch
LONDON, March 11 - Benchmark European and British wholesale gas prices rose on Wednesday morning after reports of Iran laying mines in the Strait of Hormuz raised concerns over liquefied natural gas supply. It also signalled that the Middle East conflict would last longer than expected. The...Reuters
an hour ago
