News
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Oil unlikely to hit $200 a barrel, US energy chief says
By Timothy Gardner and Susan Heavey WASHINGTON, March 12 (Reuters) - U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz and the U.S. and Israeli war with Iran widened. "I w...Reuters
17 minutes ago
Gold trades sideways as traders weigh geopolitics and Fed outlook
Gold (XAU/USD) recovers earlier losses and trades broadly flat on Thursday as the US Dollar (USD) pauses its intraday advance and Treasury yields ease somewhat after rising earlier this week. At the time of writing, XAU/USD trades around $5,170, rebounding from intraday lows near $5,125.
Fxstreet
22 minutes ago
India boosts LPG imports from US, Norway as Gulf supplies tighten
India's LPG imports now include US, Norway, Canada, and Russia, minister saysIndia's crude supply secure with 70% non-Hormuz imports, he saysBiomass, kerosene, coal allowed as alternate fuels for hospitality sectorPanic over LPG supply driven by consumer anxiety, not actual shortage, he says...Reuters
22 minutes ago
Taiwan rattled by 5.7 magnitude quake, no immediate reports of damage
TAIPEI, March 12 (Reuters) - A 5.7 magnitude earthquake struck just off the coast of Taiwan's eastern county of Hualien on Thursday, the island's weather administration said, with no immediate reports of damage.Reuters
34 minutes ago
EU requests mission to inspect Druzhba oil pipeline in Ukraine
PARIS, March 12 (Reuters) - The European Union has proposed a mission to inspect the Druzhba oil pipeline in Ukraine, and is waiting for a reply from Ukraine on this request, a spokesperson for the EU Commission said on Thursday."We have proposed a mission to inspect the Druzhba pipeline in Ukra...Reuters
35 minutes ago
Czechs discussing 1.5 bcm LNG deal with US, minister says
PRAGUE, March 12 (Reuters) - The Czech Republic is in talks with the United States for the supply of 1.5 billion cubic metres of liquefied natural gas, the industry minister was quoted as saying on Thursday by Hospodarske Noviny.Like other countries in central and eastern Europe, the Czech Republic ...Reuters
42 minutes ago
GRAINS-Soybeans extend gains with crude as Mideast war continues
Crude oil rise supports soybean, wheat, and corn pricesIranian attacks heighten fears of prolonged Middle East conflictInvestors await U.S. export sales data and Chinese demand signals BEIJING/PARIS, March 12 (Reuters) - Chicago soybean futures rose for a third consecutive session on Thursday, as...Reuters
45 minutes ago
RPT-BREAKINGVIEWS-Luckin Coffee deal adds extra shot to comeback
By Katrina HamlinHONG KONG, March 12 (Reuters Breakingviews) - Luckin Coffee LKNCY.PK has a shot at redemption. Four years after Centurium Capital took control of the scandal-hit and bankrupt java chain, the buyout firm is in advanced talks to buy upscale peer Blue Bottle Coffee for less than $400 m...Reuters
56 minutes ago
RWE in $20 billion US expansion push, shares near 16-year high
To spend 17 billion euros in United States2025 core profit beats pollExpects US capacity to grow to 22 gigawattsShares near 16-year highBy 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 c...Reuters
an hour ago
Zefyros tanker hit by unknown projectile at Iraqi anchorage - ship manager
LONDON, March 12 (Reuters) - The Zefyros tanker was hit by an unknown projectile during a ship-to-ship transfer with oil tanker Safesea Vishnu at Iraq's Umm Qasar anchorage, the vessel's Greece based manager Benetech Shipping SA said on Thursday. The incident took place at 2341 local time on...Reuters
an hour 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
an hour ago
US cannot escort ships through Strait of Hormuz now, maybe by month's end, US energy chief says
WASHINGTON, March 12 (Reuters) - U.S. Energy Secretary Chris Wright told CNBC on Thursday that the Navy cannot escort ships through the Strait of Hormuz now but it was "quite likely" that could happen by the end of the month.Reuters
an hour ago
Pakistan's PIA raises fuel surcharge as Gulf crisis drives up costs
KARACHI, March 12 (Reuters) - Fuel costs of Pakistan International Airlines have risen 34% due to the crisis in the Gulf region and the carrier is increasing the fuel surcharge on both domestic and international routes, a spokesman said on Thursday. Pakistan International Airlines will raise the fue...Reuters
an hour ago
Brent: Range trade after sharp oil spike – Societe Generale
Societe Generale analysts describe Brent as having broken out of a large base and accelerated towards $120 before a steep pullback. The contract is holding above $81, with an upside gap near $93.80 and the $120 pivot high seen as a key hurdle.Fxstreet
an hour ago
South Korea to cap fuel price starting Friday to ease consumer burden
SEOUL, March 12 (Reuters) - South Korea said on Thursday that it will cap domestic fuel prices starting on Friday to combat a spike in energy costs stemming from the conflict in the Middle East. The move comes as South Korea is scrambling to cushion the impact of the Middle East energy crisis on As...Reuters
an hour ago
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
an hour 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
an hour 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
an hour 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
an hour 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
an hour ago
