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World faces largest-ever oil supply disruption on Middle East war, IEA says
LONDON, March 12 (Reuters) - The war in the Middle East is creating the biggest oil supply disruption in the history of the global market, the International Energy Agency said on Thursday, a day after the agency agreed to release a record volume of oil from strategic stockpiles.Middle East Gulf cou...Reuters
4 minutes ago
IEA director says energy markets at 'critical turning point'
ISTANBUL, March 12 (Reuters) - IEA Executive Director Fatih Birol said on Thursday that global energy markets are at a "critical turning point," after his agency on Wednesday recommended a coordinated release of global reserve oil in the face of the Iran war. The closure of the Strait of Hor...Reuters
15 minutes ago
Singapore fuel oil inventories extend gains as bunker demand slows
By Jeslyn Lerh SINGAPORE, March 12 (Reuters) - Onshore fuel oil inventories in Singapore tanks climbed for a third straight week, data from Enterprise Singapore showed, as spot demand for bunker fuel softened in recent days after prices spiked, trade sources said. For now, the stockbuild shows t...Reuters
49 minutes ago
METALS-Aluminium extends gains as supply concerns linger amid Mideast war
By Amy Lv and Lewis Jackson BEIJING, March 12 (Reuters) - Aluminium prices extended gains on Thursday, finding continued support from lingering concerns about tightening global supply amid the Middle East conflict that showed no signs of easing. The most-traded aluminium contract on the Shanghai ...Reuters
54 minutes ago
US opens unfair-trade probes to rebuild Trump's tariff pressure
Section 301 probe targets excess capacity in 16 trading partnersForced-labor probe covers about 60 countries, may ban more US importsTrump aims to rebuild tariff pressure after Supreme Court rulingBy David Lawder and Ismail Shakil WASHINGTON, March 12 (Reuters) - U.S. President Donald Trump's...Reuters
an hour ago
EIG's MidOcean Energy buys additional Australian LNG stakes from JERA
MidOcean raises Gorgon stake to 1.417% from 1.0%Takes JERA's 0.735% interest in Ichthys project Total deal valued under $500 million, source saysParties to explore broader LNG strategic allianceTOKYO/HONG KONG, March 12 (Reuters) - MidOcean Energy, an LNG company backed by U.S. energy-focused pr...Reuters
an hour ago
Italy joins IEA oil reserve release with 9 million barrels
ROME, March 12 (Reuters) - Italy will contribute with 9 million barrels to a coordinated release of strategic oil reserves, joining other International Energy Agency members, a government source said on Thursday.Asked about the timing, the source said "availability was immediate."The IEA rec...Reuters
an hour ago
REFILE-Cathay Pacific to raise fuel surcharges from March 18 amid Iran conflict
March 12 (Reuters) - Hong Kong's Cathay Pacific Airways 0293.HK will raise fuel surcharges on all routes from March 18, the flagship carrier said on Thursday, as jet fuel prices have doubled since the start of this month amid the Middle East conflict.Reuters
2 hours ago
PRECIOUS-Gold falls on firmer dollar, dimming US rate cut hopes
Iran tells world to get ready for oil at $200 a barrelIEA agrees to release record 400 million barrels of oilUS January PCE data due on FridayBy Noel John March 12 (Reuters) - Gold prices fell on Thursday, weighed down by a firmer U.S. dollar and waning hopes for near-term U.S. interest rate cuts...Reuters
2 hours ago
RWE targets gas-fired power plants in $20 billion US expansion
To spend 17 billion euros in United States2025 core profit beats pollExpects US capacity to grow to 22 gigawattsShares indicated 1% lower on slight cut in 2027 outlookBy Christoph Steitz and Tom Käckenhoff ESSEN, Germany, March 12 (Reuters) - Germany's largest power producer, RWE RWEG.DE, sai...Reuters
2 hours ago
Indian source says Iran to allow India-flagged tankers pass through Strait of Hormuz
NEW DELHI, March 12 (Reuters) - Iran will allow India-flagged tankers to transit the Strait of Hormuz, through which 40% of India's crude imports pass, an Indian source said on Thursday, though an Iranian source based outside the country denied any such agreement had been reached.India’s foreign...Reuters
2 hours ago
Korea Zinc in talks with US tech firms to extract rare earths from data centre waste
Firm has already made related acquisitions, chairman saysInitiative on top of plans for $7.4 billion US smelterProjects will help US reduce reliance on Chinese rare earthsBy Heejin Kim SEOUL, March 12 - Korea Zinc 010130.KS is in talks with major U.S. technology firms to recycle data centre waste...Reuters
2 hours ago
Wrapup 4-Oil Tankers Burn Near Iraq as Iranian Strikes Defy Trump’s Claim To Have Won the War
DUBAI/TEL AVIV/WASHINGTON, March 12 (Reuters) - Two tankers were ablaze in Iraqi waters on Thursday after what appeared to be Iranian strikes, the latest wave of attacks on oil and transport facilities across the Middle East, as Iran warned the world should be ready for oil to hit $200 a barrel.Reuters
2 hours ago
ROI-Iran oil shock prompts ECB hawks to seek 2021/22 rematch: Mike Dolan
By Mike Dolan LONDON, March 12 (Reuters) - European Central Bank hawks are itching to rewrite the record. This month's energy price shock may not match the fallout from Russia's invasion of Ukraine, but officials are clearly wary of repeating the slow post-pandemic policy tightening that ...Reuters
2 hours ago
Drone debris knocks out six Kuwait power transmission lines
March 12 (Reuters) - Kuwait's electricity ministry said on Thursday that six power transmission lines went out of service after debris from intercepted drones fell on them. The ministry added that the electricity and water situation is under control.Reuters
2 hours ago
Oil: Reserve release impact weighed against Hormuz risk – MUFG
MUFG’s Senior Currency Analyst Lloyd Chan highlights that Brent Oil has risen above US$90/bbl as supply risks from Iraq and the Strait of Hormuz overshadow the International Energy Agency’s record 400 million barrel emergency reserve release.Fxstreet
2 hours ago
PRESS DIGEST- New York Times business news - March 12
March 12 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.- The International Energy Agency agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spik...Reuters
2 hours ago
