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Oil jumps 5% as Iran escalates attacks on Gulf shipping
Iranian boats attacked two tankers in Iraqi waters, port officials saidShipping through Strait of 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
7 minutes ago
Europe should not set a cap on gas prices, Norway's prime minister says
OSLO, March 12 (Reuters) - Norway's Prime Minister Jonas Gahr Stoere said on Thursday that it would be unwise for Europe to cap the price of natural gas, which has risen some 60% in the wake of the U.S.-Israeli war on Iran. He said Norway, Europe's biggest supplier of gas, would remain a rel...Reuters
8 minutes ago
METALS-Aluminium nears four-year high on Middle East supply fears
By Polina Devitt LONDON, March 12 (Reuters) - Aluminium prices hit their highest level in almost four years on Thursday on worries of tighter supply to Europe and other regions as the Middle East conflict disrupts shipments via the Strait of Hormuz.Benchmark three-month aluminium CMAL3 on the Lon...Reuters
8 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 monthsIEA head says oil reserve release had 'strong impact' on marketsBy Alex Lawler LONDON, M...Reuters
15 minutes ago
Aluminium: Middle East risks keep market tight – ING
ING strategists Warren Patterson and Ewa Manthey report LME Aluminium trading near four-year highs as Middle East conflict-driven supply risks support prices. Rising cancelled warrants and accelerating stock withdrawals point to growing physical tightness, particularly at Port Klang.Fxstreet
15 minutes ago
Prices jump in Turkmenistan as war dries up imports from neighbouring Iran
By Marat GurtASHGABAT, March 12 (Reuters) - Retailers and consumers in the Turkmen capital, Ashgabat, say prices for key goods imported from nearby Iran have jumped sharply, as normally lively cross-border trade is disrupted by Israeli and U.S. strikes on Turkmenistan's southern neighbour.Iran i...Reuters
17 minutes ago
NORDIC POWER-Forward prices rise on tight water reserves, higher European gas rates
March 12 (Reuters) - Nordic forward power prices rose on Thursday, driven by lower water reserves in the hydropower-dependent region, while strong European gas prices also provided support. Nordic front-quarter baseload power contract ENOFBLQc1 rose 3.5 euros, or 6.8%, to 54.7 euros per megawatt hou...Reuters
27 minutes ago
India's non-Hormuz crude sourcing has increased to 70% of imports, oil minister says
NEW DELHI, March 12 (Reuters) - India's sourcing of non-Hormuz crude has increased to 70% of its total imports and the country's current crude supply position is secure, Oil Minister Hardeep Singh Puri told parliament on Thursday. India's petrol and diesel availability is also fully secu...Reuters
36 minutes ago
RPT-ROI-Is Europe's gas demand recovery derailed or just dented by Iran crisis?: Maguire
By Gavin Maguire LITTLETON, Colorado, March 12 (Reuters) - Most of Europe's largest natural gas consumers cranked gas-fired power production to multi-year highs in early 2026, raising hopes among liquefied natural gas (LNG) exporters that the region was regaining its taste for the fuel.Howeve...Reuters
45 minutes ago
RPT-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
45 minutes ago
US must stick to EU-US 2025 trade deal, says Germany on US trade probe
March 12 (Reuters) - Germany has taken note of the U.S.'s unfair-trade probe, the economy ministry said on Thursday, adding it was crucial that any new tariffs would not breach an agreement between the EU and the U.S. struck in summer 2025.The ministry said in a statement it expected the U.S. wo...Reuters
45 minutes ago
Bangladesh secures spot LNG cargoes as costs soar, seeks Indian oil
Bangladesh scrambling for fuel amid the Middle East crisisIndia says it has received Bangladesh’s request for suppliesDhaka turns to costly spot LNG purchases amid supply disruptions DHAKA, March 12 (Reuters) - Bangladesh has bought three liquefied natural gas (LNG) cargoes on the spot market at ...Reuters
46 minutes ago
Poland says foiled cyberattack on nuclear centre may have come from Iran
WARSAW, March 12 (Reuters) - Poland has foiled a cyberattack on its nuclear research centre and is examining signs that Iran may be behind it, the government said on Thursday, cautioning the indicators might be a deliberate misdirection to hide the attackers’ true location.Poland says it has been th...Reuters
53 minutes ago
Indian source says Iran to allow India-flagged tankers through Hormuz as first tanker arrives
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 aboardSuezmax tanker Shenlong, carrying Saudi crude, reaches MumbaiBy Krishna N. Das, Saurabh Sharma and Nidhi Verma ...Reuters
55 minutes ago
Projectile fragments hit Hapag-Lloyd container vessel near Strait of Hormuz
COPENHAGEN, March 12 (Reuters) - German shipping company Hapag-Lloyd HLAG.DE said projectile fragments have hit the Liberia-flagged container vessel 'Source Blessing' near the Strait of Hormuz.Hapag-Lloyd said in an emailed statement that the ship, which it has time-chartered to Danish shipp...Reuters
an hour ago
RWE talks with ADNOC over LNG have slowed somewhat due to crisis, CEO says
ESSEN, Germany, March 12 (Reuters) - Talks RWE is holding with ADNOC over potential deliveries of liquefied natural gas have slowed in light of the U.S.-Israeli war on Iran, which has caused major shutdowns of local energy infrastructure, the utility's CEO said.RWE had signed a provisional agree...Reuters
an hour ago
Oil Product Deliveries To The Spanish Market From Fuel Distributor Exolum Terminals Decreased By 0.6% In February YoY
March 12 (Reuters) - Oil Logistics Company Exolum:OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS DECREASED BY 0.6% IN FEBRUARY YEAR ON YEARSource textReuters
an hour ago
South Korea to impose fuel price cap starting Friday, media reports say
SEOUL, March 12 (Reuters) - South Korea will cap domestic fuel prices starting on Friday to combat a spike in energy costs stemming from the conflict in the Middle East, media reports said. South Korea will also restrict the stockpiling of petroleum products, requiring refiners to release at least ...Reuters
an hour ago
