News

ECB Governing Council member Stunaras: The impact on inflation and output depends on the duration and intensity of the conflict with Iran.

European Central Bank Governing Council Member Stu Naras: Since we cannot foresee the future, we should not rush to adjust interest rates.

Indonesian Energy Minister: The government is conducting diplomatic consultations to ensure that two Petamina oil tankers can leave the conflict area in the Strait of Hormuz.

Indonesian Energy Minister: Production quotas for nickel and coal are still being finalized.

Indonesian Energy Minister: Fuel supply is sufficient before Islamic holidays.

Russian Foreign Minister Lavrov: We still have not seen any evidence that Iran is seeking to develop nuclear weapons.

Russian Foreign Minister Lavrov: Called on all parties in the Middle East to cease hostilities.

Indonesian Energy Minister: To ensure supply amid tensions, we will import crude oil from the United States rather than the Middle East.

Professor Vali Nasr, former senior adviser to the U.S. State Department: We really don’t know what the United States’ goals are and what President Trump wants. None of this was explained to the American people like other wars. This is really not U.S. policy, but what President Trump has in mind.

Norwegian Air cancels all flights to and from Dubai until March 10 (inclusive).

Traders have increased their bets on the European Central Bank to raise interest rates, predicting a 20% chance of a hike by June.

Traders said Russia's Tuapse Black Sea port planned to export 755,000 tons of petroleum products in March, compared with 312,000 tons planned for February.

Indian trade officials: 400,000 tons of basmati rice destined for the Middle East have been blocked at ports and during transportation due to tensions in Iran. Indian exporters are avoiding trade orders to the Middle East as container freight rates rise.

Deputy Speaker of Iran’s Parliament: We will be the winners of the war. Trump will surely regret his military campaign in the Middle East. This is a war that must be thoroughly resolved. The United States did not expect this response from us. We have shot down their planes and drones.

ICE data showed that Dutch wholesale natural gas prices rose 24% in the month to 54.2 euros/MWh.

Major European stock indexes continued to decline. Italy's FTSE MIB index fell 3% during the day, the European Stoxx 50 index fell 2.5%, the German DAX index fell 2.7%, and the British FTSE 100 index and FCHI index fell nearly 2%.

Traders no longer expect the Bank of England to cut interest rates for a second time this year.

The yield on British two-year government bonds rose 16 basis points that day to 3.8%, a new high since December 29.

The U.S. State Department urges non-emergency U.S. government personnel in the UAE to leave the country.

Australia has called on people not to panic buy fuel due to the conflict between the United States, Iran and Israel.