World markets on March 4: Saudi Aramco facility housing largest refinery struck by projectile

Updates to this reside weblog have ended, comply with our reside protection of Iran-US battle right here.

Saudi Aramco’s Ras Tanura, which homes its largest home refinery and a key crude export terminal, was struck once more on Wednesday by an unknown projectile, 4 sources stated, two days after a supply stated a drone assault on the complicated shut the refinery.

Preliminary indications present an assault on the Ras Tanura refinery was carried out by a drone and resulted in no injury, Saudi Arabia’s defence ministry spokesman stated, based on the state information company.

The company additionally cited an power ministry supply as saying that there was no disruption to provides.

Saudi Arabia and different regional Gulf oil producers, such because the United Arab Emirates, Kuwait and Iraq, have been ​unable to maneuver oil via the Strait of Hormuz for the reason that U.S. and Israel launched assaults on Iran on Friday.

(By way of Reuters)

India inventory market LIVE: India’s Sensex tanked 1,122.66 factors to settle at 79,116.19; Nifty dived 385.20 factors to 24,480.50.

(by way of PTI)

World markets LIVE updates: Asia’s benchmark inventory index fell probably the most in almost a yr, led by a document selloff in South Korean equities as traders unwound positions in among the yr’s greatest market winners.

US futures additionally declined, with S&P 500 futures down 0.3%. In distinction, Europe moved greater, with the Stoxx 600 rebounding after struggling its worst drop since April.

In commodities, Brent crude prolonged positive aspects, rising 2.5% to about $83.50 a barrel. The greenback paused after two days of haven-driven positive aspects, whereas the selloff in international bonds continued, pushing the 10-year US Treasury yield up three foundation factors to 4.09%. Gold additionally superior, buying and selling above $5,100 an oz..

World markets LIVE updates: The Nifty 50 index dropped 329.25 factors, or 1.32%, to 24,536.45 in afternoon commerce on Wednesday, reflecting broad weak point within the Indian inventory market.

World markets LIVE updates: US inventory futures edged decrease, with S&P 500 E-mini futures down 0.33%, Nasdaq 100 futures falling 0.5%, and Dow futures declining 0.4%.

World markets LIVE updates: South Korea’s inventory market noticed its steepest selloff on document as escalating tensions within the Center East rattled traders. The Kospi Index plunged 12% on Wednesday after dropping 7.2% a day earlier, with main corporations akin to Samsung Electronics, SK Hynix and Hyundai Motor main the decline. The sharp fall pressured a 20-minute buying and selling halt through the session.

Out of greater than 800 shares on the benchmark index, solely 10 managed to shut greater, whereas a key market volatility gauge surged to its highest degree since 2008.

The downturn caught many traders off guard. Sturdy optimism round synthetic intelligence and booming demand for reminiscence chips had pushed analysts to boost their outlook for Korean equities, whereas retail traders piled into the market utilizing borrowed funds.

World markets LIVE updates: US President Donald Trump stated the USA will guarantee secure passage of oil shipments from the Center East to forestall a possible power disaster triggered by the continuing conflict with Iran.

The battle between the US-Israeli alliance and Iran, now in its fifth day, confirmed no indicators of easing. Tehran launched missiles and drones at Arab states within the Persian Gulf on Wednesday, whereas Israel carried out strikes on navy targets throughout Iran and on allied militias in Lebanon.

Trump stated on Tuesday that the US Worldwide Improvement Finance Company would supply insurance coverage “at a really affordable value” to assist the continued stream of power and business commerce via the Gulf. He added that the US Navy may start escorting oil tankers via the strategic Strait of Hormuz “as quickly as attainable” if required.

World markets LIVE updates: Asian shares tumbled probably the most in almost a yr on Wednesday, led by a pointy crash in South Korean markets, as escalating issues over the Iran conflict triggered a broad selloff throughout among the area’s top-performing equities.

The MSCI Asia Pacific Index dropped as a lot as 4.5%, whereas South Korean shares plunged round 12% amid rising panic amongst traders. The Kospi Index, which had been one of many world’s best-performing benchmarks pushed by AI-related investments, led the decline.

Dubai shares additionally slipped 4.7% when buying and selling resumed.

Regardless of the steep losses in Asia, equity-index futures signalled a modest acquire for European markets and a few losses on Wall Road, suggesting the selloff might stay largely contained to the area.

World markets LIVE updates: Crude oil costs rose by ₹93 to ₹7,018 per barrel in futures commerce on Wednesday as merchants expanded their positions amid agency demand within the spot market.

On the Multi Commodity Change, crude oil contracts for April supply climbed ₹93, or 1.34 per cent, to ₹7,018 per barrel in a turnover of two,516 tons.

Analysts stated elevated participation by merchants helped hold crude oil costs greater within the futures market.

Within the international market, West Texas Intermediate crude was buying and selling 2.32 per cent greater at USD 76.28 per barrel, whereas Brent crude gained 2.52 per cent to USD 83.46 per barrel in New York.

World markets LIVE updates: Gold held regular at $5,163 per ounce in Asian commerce, whereas the Australian greenback slipped beneath 70 US cents. On Wall Road in a single day, main indexes recovered from steeper declines, with the S&P 500 ending 0.8% decrease.

The euro remained pinned at $1.16 as surging power prices weighed on the forex. Benchmark European gasoline costs have jumped about 66% over the previous two days.

Coal costs are additionally reacting to the power crunch, with Australia’s benchmark Newcastle coal value rising almost 17% to date this week.

World markets LIVE updates: Benchmark Brent crude futures have been buying and selling at $82.08 a barrel, placing costs on observe for a acquire of greater than 13% this week, because the battle involving Iran continued to disrupt power markets.

Nevertheless, costs eased from earlier highs after US President Donald Trump ordered an insurance coverage assure for delivery within the Gulf and stated the US Navy may escort oil tankers via the Strait of Hormuz.

The surge in oil costs comes as US and Israeli forces have carried out strikes on Iran since Saturday, whereas Iranian drones and missiles have focused Gulf oil refineries in addition to US embassies in Saudi Arabia and Kuwait.

World markets LIVE updates: Japan’s Nikkei index fell 3.9% whereas Taiwan’s inventory market dropped 4.3% as traders rushed to promote semiconductor shares, one of many hottest trades in current months.

Market individuals seemed to be unwinding positions in chipmakers to cowl losses elsewhere and cut back total danger publicity amid rising international uncertainty.

Oil costs at present LIVE updates: The benchmark BSE Sensex was buying and selling sharply decrease on Wednesday, falling 1,485.08 factors or 1.85 per cent to 78,753.77 as of 11:56 am IST, amid weak investor sentiment and broader market volatility.

Oil costs at present LIVE updates: Diesel’s premium to crude oil elevated to its highest for the reason that summer time of 2023, with Benchmark diesel futures in Europe buying and selling over $40 per barrel above crude earlier on Tuesday, Bloomberg reported.

Oil costs at present LIVE updates: The rupee plunged 69 paise to a document low of 92.18 towards the US greenback in early commerce on Wednesday, as a pointy rise in crude oil costs following the escalation of the US–Iran battle weighed closely on investor sentiment.

Foreign exchange merchants stated the home forex is underneath intense stress after international oil costs spiked, with Brent crude futures crossing the USD 82 per barrel mark amid the Iran disaster.

Oil costs at present LIVE updates: Totsa, the buying and selling arm of TotalEnergies, has supplied to promote as much as 2 million barrels of Oman crude for April loading, merchants stated, marking the primary tender for Center Japanese oil for the reason that Iran conflict disrupted regional exports.

World oil and gasoline costs have surged this week because the U.S.-Israeli conflict on Iran halted power shipments from components of the Center East and pushed freight charges sharply greater.

Transport via the Strait of Hormuz — a key route for roughly a fifth of the world’s oil and liquefied pure gasoline — stays shut after Iran attacked 5 vessels.

Based on merchants, the cargoes being supplied by Totsa will load between April 1 and April 27 from Oman’s Mina al-Fahal port, which lies exterior the Strait of Hormuz.

The tender is scheduled to shut at 5 p.m. Singapore time (0900 GMT) on Wednesday.

Oil costs at present LIVE updates: Oil costs rose about 1% on Wednesday because the US-Israeli conflict with Iran disrupted provides within the Center East, although positive aspects slowed after US President Donald Trump steered the US Navy may escort vessels via the Strait of Hormuz.

Brent crude rose $1.17, or 1.4%, to $82.57 a barrel by 0408 GMT, after closing at its highest degree since January 2025 within the earlier session.

US West Texas Intermediate crude gained 72 cents, or 1%, to $75.28 a barrel, after settling at its highest degree since June.

Each benchmarks have risen about 5% or extra over the previous two classes amid issues over potential provide disruptions within the area.

Oil costs at present LIVE updates: India’s benchmark fairness indices, the Sensex and Nifty, declined in early commerce on Wednesday because the widening battle within the Center East pushed oil costs greater and weighed on Asian and international markets.

Oil costs at present LIVE: Diesel’s premium to crude oil elevated to its highest for the reason that summer time of 2023, with Benchmark diesel futures in Europe buying and selling over $40 per barrel above crude earlier on Tuesday, Bloomberg reported.

Oil costs rose 1 per cent amid the intensifying US-Israeli conflict, as Brent surged 1.4 per cent to $82.57 per barrel, the very best since January 2025. US West Texas Intermediate crude, in the meantime, rose 1 per cent to $75.28.

Japan’s Nikkei share common reached its one-month low on Wednesday, because it tanked by 4.7 per cent as buying and selling resumed within the afternoon (native time).

The index was final down 4 per cent, its lowest since February 6. The broader Topix misplaced 4.33% to three,608.54, Reuters reported.

Oil India Ltd., share value on Wednesday rose by greater than 4 factors. The margin at 10:09 am stood at 5.15 factors, and the worth was recorded at ₹493.20.

Oil costs at present LIVE updates: South Korea’s benchmark Kospi index tanked by greater than 12 per cent on Wednesday because the battle within the Center East continued to escalate.

The Kospi dropped 12.6 per cent to five,065.14 in early afternoon commerce (native time). On Tuesday, it had tumbled 7.2 per cent, struggling its worst two-day efficiency since 2008 through the international monetary disaster, Bloomberg reported.