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EXCLUSIVE-Russia prepares 10% cut to 'non-sensitive' spending in 2026, sources say
Cuts to spare military and social spending, focus on non-essential expensesOil price rises due to Iran conflict affects budget decisionsFinance Ministry yet to decide on spending cuts, awaiting oil price changesBy Darya Korsunskaya MOSCOW, March 11 (Reuters) - The Russian government is preparing ...Reuters
12 minutes ago
UK joins IEA oil reserve release with 13.5 million barrels
LONDON, March 11 (Reuters) - Britain said on Wednesday it would contribute 13.5 million barrels of oil to a coordinated release from strategic reserves, joining other International Energy Agency members."With this action, the UK is playing our part in working with our international allies to add...Reuters
16 minutes ago
IEA announces largest coordinated release of 400 million barrels from Oil reserves
The International Energy Agency (IEA) announced that its 32 member countries unanimously agreed to make 400 million barrels of Oil from their emergency reserves available to the market, notes Reuters. The proposed move represents the largest coordinated release of strategic Oil reserves in history.
Fxstreet
17 minutes ago
IEA proposes record release of strategic stocks in response to Iran war oil price surge
IEA plans to release record amount of oil in response to crisisG7 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 Energy Agency (IE...Reuters
35 minutes ago
IEA proposes release of 400 mln barrels of oil from strategic stocks
PARIS, March 11 (Reuters) - The International Energy Agency (IEA) proposed on Wednesday the release of 400 million barrels of oil, the largest release of oil reserves in its history, to bring down crude prices that have soared amid the U.S.-Israel war with Iran. The proposed release exceeds the ...Reuters
41 minutes ago
CORRECTED-EXCLUSIVE-Shell declares force majeure to clients who buy Qatari LNG, sources say
Shell has long partnerships with QatarEnergyQatar halted production at 77 mtpa LNG facilityBy Marwa RashadLONDON, March 11 (Reuters) - Shell SHEL.L, the world's largest liquefied natural gas trader, has declared force majeure on LNG cargoes it buys from QatarEnergy and sells to its clients world...Reuters
43 minutes ago
Oil storage facilities hit in Oman’s Salalah port, Ambrey and state TV say
DUBAI, March 11 (Reuters) - Oil storage facilities were struck in Oman's Salalah port on Wednesday, British maritime security firm Ambrey said.Drones struck fuel tanks in the port, Oman TV reported.No damage to merchant vessels had been reported, Ambrey said.Reuters
54 minutes ago
India says it is ready for unprecedented coal power demand in summer
NEW DELHI, March 11 (Reuters) - India has sufficient coal supplies to meet what is expected to be an unprecedented surge in demand during the summer months, the Coal Ministry said on Wednesday, after gas supply disruptions due to the U.S.-Israeli war on Iran. The overall coal stock available in...Reuters
an hour ago
OPEC confirms big Saudi oil production hike ahead of Iran war, holds forecasts steady
Saudi Arabia increased production as contingency for Iran attack disruption, sources saidOPEC says geopolitical developments need close monitoring, no forecast changes yetIEA to update oil forecasts on ThursdayBy Alex Lawler LONDON, March 11 (Reuters) - OPEC said on Wednesday that Saudi Arabia sh...Reuters
an hour ago
WRAPUP 7-Iran tells world to get ready for $200 a barrel
Three ships hit in the GulfIEA 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's military command said on Wednesday the world should be prepared for oil to hit $200 a barr...Reuters
an hour ago
METALS-Aluminium rallies, focus on supply disruptions from Middle East turmoil
By Pratima Desai LONDON, March 11 (Reuters) - Aluminium prices rallied on Wednesday as attention shifted to global supply losses from the Middle East conflict, following a brief selloff triggered by comments from U.S. President Donald Trump on the Iran war.Benchmark aluminium CMAL3 on the London ...Reuters
an hour ago
PRECIOUS-Gold eases as firmer dollar, lingering inflation concerns weigh
Iran fires back at bases, shipsUS consumer prices increase as expected in FebruaryStandard Chartered maintains positive longer-term view on goldSpot silver slips over 3% By Ashitha Shivaprasad March 11 (Reuters) - Gold prices edged lower on Wednesday, weighed down by an uptick in the U.S. dollar ...Reuters
an hour ago
Three more vessels hit by projectiles in Strait of Hormuz, showing merchant ships remain in firing line
Thailand-flagged bulk carrier damaged off OmanMost crew evacuated, three feared missingJapan-flagged container ship and Greek-owned bulk carrier sustain minor damage DUBAI, March 11 (Reuters) - Three more vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security and...Reuters
an hour ago
Hungary sends Druzhba fact-finding mission to Ukraine, deputy minister says
Four-member group to look into Druzhba outageUkraine says fact-finding mission has no official statusBudapest and Kyiv at loggerheads over outage BUDAPEST, March 11 (Reuters) - Hungary has sent a fact-finding mission to Ukraine to investigate the suspension of oil transit through the Druzhba pipe...Reuters
2 hours ago
Japan to release around 80 million barrels from emergency oil stocks
TOKYO, March 11 (Reuters) - Japan plans to release around 80 million barrels from its private and national oil reserves, the Ministry of Economy, Trade and Industry said on Wednesday, to help calm global oil markets and prevent supply shortages caused by the Iran war.Japan would suffer the greatest ...Reuters
2 hours ago
CBOT Trends-Wheat up 7-8 cents, corn up 6-7, soybeans up 17-20
CHICAGO, March 11 (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. CDT (1330 GMT) on Wednesday: WHEAT - Up 7 to 8 cents per bushelWheat ticked up under support from the escalating U.S.-Israeli war on Ir...Reuters
2 hours ago
