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Goldman Sachs Raises Oil Price Forecasts and Warns Oil May Break All-Time Highs if Strait of Hormuz Disruption Persists
TradingKey — As tensions in the Middle East continue to escalate, energy market concerns over supply disruptions are rapidly intensifying. Goldman Sachs’ latest report has raised its crude oil price forecasts, warning that if oil shipments through the Strait of Hormuz are blocked for a prolonged period, international oil prices could approach or even surpass their 2008 historical peak.
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45 minutes ago
Serbia's NIS seeks new US sanctions waiver to allow crude oil imports
BELGRADE, March 12 (Reuters) - Serbia's Russian-owned NIS NIIS.BEL oil company has sought another sanctions waiver from the U.S. to allow crude imports while it awaits the completion of a sale to Hungary's MOL MOLB.BU, the company said on Thursday.NIS operates Serbia's only oil refinery ...Reuters
9 minutes ago
Russia's Rosatom says it will stay in Iran despite war
MOSCOW, March 12 (Reuters) - Russia’s state nuclear corporation Rosatom will stay in Iran despite the conflict in the Middle East and is committed to its agreement to build two more units at the Bushehr nuclear plant, its head Alexei Likhachev said on Thursday.Rosatom, which built the first 1‑gigawa...Reuters
10 minutes ago
PRECIOUS-Gold treads water as margin calls, strong dollar offset safety demand
Oil prices jump over 6%Two oil tankers in Iraqi waters set ablaze in latest attacksDollar near highest since 2026 start,10-yr yields at 5-week highBy Ishaan Arora March 12 (Reuters) - Gold prices were little changed on Thursday, as margin calls on sliding equities, a stronger dollar and dampened ...Reuters
12 minutes ago
Indian rice exports slow as Middle East war pushes up freight and insurance costs
By Rajendra Jadhav MUMBAI, March 12 (Reuters) - Rice exports from India are slowing as the U.S.-Israeli war on Iran pushes up freight and insurance costs, making it harder for exporters to secure vessels, five exporters told Reuters.India, which accounts for more than 40% of world rice exports, u...Reuters
18 minutes ago
Canada's McEwen Q4 revenue rises on higher gold prices
OverviewCanada gold and silver miner's Q4 revenue rose 28% yr/yr, driven by higher gold pricesQ4 net income swung to profit from prior yr lossAdjusted EBITDA for Q4 more than doubled yr/yrOutlookCompany sees 2026 production at 114,000-126,000 GEOs with cash costs of $2,100-$2,300McEwen targets 2...Reuters
19 minutes ago
WRAPUP 5-Oil tankers burn near Iraq as Iranian strikes defy Trump's claim to have won the war
Oil prices extend gains after tankers struck in Iraqi watersIran says world should be ready for oil at $200 a barrelTrump says energy prices will come down UNICEF says 1,100 children among casualtiesBy Parisa Hafezi and Bo Erickson DUBAI/HEBRON, Kentucky, March 12 (Reuters) - Two tankers were...Reuters
27 minutes ago
Brazil's dreams for industrial-scale cocoa farms fading after price crash
Brazilian cocoa projects face financial challenge due to low bean pricesAfrican production recovery, 'shrinkflation' impact global cocoa marketBig projects for thousands of hectares being suspended or slowedBy Marcelo Teixeira, Oliver Griffin and May Angel SAO PAULO, March 12 (Reuters) - ...Reuters
28 minutes ago
India examining Bangladesh request for diesel supply
NEW DELHI, March 12 (Reuters) - India has received a request from Bangladesh for diesel supplies, the country's foreign ministry spokesperson Randhir Jaiswal said on Thursday. New Delhi will factor in India's diesel availability and refining capacity before supplying Bangladesh, which i...Reuters
29 minutes ago
Indian source says Iran to allow India-flagged tankers to pass through Strait of Hormuz
Iranian source denies any such agreementIndian source says assurance came after foreign ministers spokeIndia says 28 Indian-flagged vessels around StraitThey have 778 Indian sailors aboardBy Krishna N. Das and Saurabh Sharma NEW DELHI, March 12 (Reuters) - Iran will allow Indian-flagged tankers ...Reuters
30 minutes ago
Oil jumps 6% as Iran escalates attacks on Gulf shipping
Iranian boats attacked two tankers in Iraqi waters, port officials saidShipping through Strait or Hormuz still halted IEA proposed release of 400 million barrels may offer only limited relief, analysts sayBy Enes Tunagur LONDON, March 12 (Reuters) - Oil prices rose sharply on Thursday as Iran ste...Reuters
32 minutes ago
Kremlin says energy cooperation with the US is being discussed
MOSCOW, March 12 (Reuters) - Russia and the United States are discussing possible areas of cooperation in the energy sphere, the Kremlin said on Thursday, declining to provide concrete details.President Vladimir Putin's envoy Kirill Dmitriev travelled to Florida this week and said that he had di...Reuters
34 minutes ago
World faces largest-ever oil supply disruption on Middle East war, IEA says
Global supply to drop by 8 million bpd in March due to Strait of Hormuz blockadeMiddle East Gulf countries cut oil production by 10 million bpdIEA says recovery of production could take weeks or monthsBy Alex Lawler LONDON, March 12 (Reuters) - The war in the Middle East is creating the biggest ...Reuters
48 minutes ago
EUROPE GAS-Prices rise on LNG supply concerns, oil strength
LONDON, March 12 - British and Dutch wholesale gas prices rose on Thursday morning as reports of tanker attacks in the Gulf heightened fears of prolonged disruption to regional liquefied natural gas supplies from the region, while higher oil prices added further support.The benchmark Dutch front-mon...Reuters
56 minutes 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 rise 2.6%By Christoph Steitz and Tom Käckenhoff ESSEN, Germany, March 12 (Reuters) - RWE RWEG.DE will expand more aggressively in the United States, a market where data centres h...Reuters
an hour ago
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
an hour 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
2 hours ago
