News
Important Only
WRAPUP 9-Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships
Three ships hit in the GulfIEA proposes biggest-ever release of strategic oil reservesTrump says "practically nothing left" to target in IranBy Parisa Hafezi and Alexander Cornwell DUBAI/TEL AVIV, March 11 (Reuters) - Iran said the world should be ready for oil at $200 a barrel as its for...Reuters
3 minutes ago
India ready to support oil markets as IEA agrees record release
March 11 (Reuters) - India said on Wednesday it was ready to support global oil markets in line with the International Energy Agency's release of a record 400 million barrels of oil to try to rein in prices that have soared following the U.S.-Israeli war with Iran."India stands ready to take...Reuters
8 minutes ago
US Cash Grains-Soy, corn basis mixed after farmer selling
CHICAGO, March 11 (Reuters) - Basis bids for corn and soybeans were largely mixed in the U.S. Midwest on Wednesday following a wave of farmer selling as producers sought to take advantage of a rally in corn and soybean futures.Farmer selling has petered out slightly after a surge of selling.Market p...Reuters
9 minutes ago
EU wheat higher with crude oil as war worries grow
PARIS, March 11 (Reuters) - European wheat futures rose on Wednesday, tracking a rebound in crude oil as financial markets fretted over the potential impact of the U.S.-Israeli war with Iran.May milling wheat BL2K6 on Euronext settled 1% up at 206 euros ($238.22) a metric ton. The benchmark contract...Reuters
10 minutes ago
Oil prices up 4% as supply fears mount despite record stocks release plan
3 more vessels hit in Strait of Hormuz; 14 ships struck since Iran war beganIEA proposes release of 400 mln bbls over unspecified time frameAnalysts say release insufficient to ease MidEast supply woesUS crude oil stocks rise more than expected, fuel stocks dropBy Shariq Khan NEW YORK, March 11 (...Reuters
10 minutes ago
PRECIOUS-Gold eases as firmer dollar, lingering inflation concerns persist
Iran tells world: get ready for oil at $200 a barrelUS consumer prices increase as expected in FebruaryStandard Chartered maintains positive longer-term view on goldBy Ashitha Shivaprasad March 11 (Reuters) - Gold prices edged lower on Wednesday, weighed down by an uptick in the U.S. dollar and l...Reuters
12 minutes ago
US gasoline prices surpass $3.50 a gallon at the pumps as Iran war rages on
By Shariq Khan NEW YORK, March 11 (Reuters) - The national average retail price of gasoline crossed $3.50 a gallon this week to hit its highest since May 2024, data from price tracking services AAA and GasBuddy showed, as the Israel-U.S. war with Iran stokes supply concerns.Disruptions to Middle ...Reuters
28 minutes ago
Europe Gasoline/Naphtha-Gasoline refining margins fall
LONDON, March 11 (Reuters) - Northwest European gasoline refinery profit margins fell by 75 cents to about $5.83 a barrel on Wednesday, as underlying crude prices rose owing to supply disruptions in the Middle East.About 4,000 metric tons of E5 gasoline barges traded in the Argus window, with ExxonM...Reuters
35 minutes ago
METALS-Aluminium rallies, focus on supply disruptions from Middle East conflict
By Pratima Desai LONDON, March 11 (Reuters) - Aluminium prices rallied on Wednesday as market focus shifted to global supply losses from the Middle East conflict, following a brief selloff sparked by comments from U.S. President Donald Trump on the Iran war. Benchmark aluminium CMAL3 on the ...Reuters
37 minutes ago
IEA tackles Iran war oil price spikes with record stocks release plan, markets not convinced
IEA agrees to release record amount of oil in response to crisisTrump indicates he supports the IEA moveOil prices rise on concerns that move will not be enoughBy America Hernandez and Alex Lawler PARIS/LONDON, March 11 (Reuters) - The International Energy Agency on Wednesday agreed to release 40...Reuters
54 minutes ago
Silver Price Forecast: XAG/USD falls as US Dollar gains, geopolitical risks persist
Silver (XAG/USD) trades lower on Wednesday, hovering around $85.30 at the time of writing, down 2.12% on the day. The precious metal struggles to extend its recent gains as a rebound in the US Dollar (USD) and higher US Treasury yields weigh on demand for non-yielding assets.
Fxstreet
56 minutes ago
ROI-Historic oil reserve release is only a band-aid on a gaping supply shock: Bousso
By Ron Bousso LONDON, March 11 (Reuters) - The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energ...Reuters
an hour ago
GRAINS-Soybeans rally for second day, grains turn higher, as crude oil firms
Corn futures up; traders bet US farmers to plant less cornCrude oil rebound helps support soyoil, soybean futuresStrait of Hormuz closure affects fertilizer, fuel pricesBy P.J. Huffstutter CHICAGO, March 11 (Reuters) - Chicago Board of Trade soybean futures rallied for a second straight session o...Reuters
an hour ago
Mercuria to withdraw nearly 100,000 tonnes of aluminium from LME as Middle East supply disrupted, sources say
Mercuria cancels nearly 100,000 tons of aluminium in LME warehouses, sources sayAluminium premiums soar in US and Europe due to shortagesGunvor cancelled more than 45,000 tons of LME aluminium, sources sayBy Pratima Desai LONDON, March 11 (Reuters) - Commodity trader Mercuria plans to withdraw la...Reuters
an hour ago
EXCLUSIVE-Russia prepares 10% cut to 'non-sensitive' spending in 2026, sources say
Cuts to exclude military, welfare spending, focus on non-essential expensesOil price rises due to Iran war will affect budget decisionsFinance Ministry yet to decide on extent of cutsSays prioritisation of spending under discussion By Darya Korsunskaya MOSCOW, March 11 (Reuters) - The Russian go...Reuters
an hour ago
Global dealmaking in oil and gas upstream was muted in 2025, Enverus says
March 11 (Reuters) - Dealmaking in the international upstream oil and gas market remained subdued for the second straight year in 2025, totaling just $18 billion, analytics firm Enverus said on Wednesday.Fewer high-quality resources and lower oil prices limited the value of mergers and acquisitions ...Reuters
an hour 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. Oman's state news agency said, citing an energy ministry official, that there has been no dis...Reuters
an hour ago
PRECIOUS-Gold eases as firmer dollar, lingering inflation concerns persist
Iran tells world 'get ready for $200 a barrel'US consumer prices increase as expected in FebruaryStandard Chartered maintains positive longer-term view on goldSpot silver slips over 4% By Ashitha Shivaprasad March 11 (Reuters) - Gold prices edged lower on Wednesday, weighed down by an upt...Reuters
an hour ago
Peru approves environmental study for $3.4 billion Buenaventura copper project
LIMA, March 11 (Reuters) - Peru on Wednesday approved an environmental study for Buenaventura BUENAVC1.LM, one of Peru's largest mining firms, to proceed with its southern Trapiche copper project with an estimated investment of $3.4 billion, the Andean nation's state certification office sa...Reuters
2 hours ago
