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Oil-Dri Corp Q2 revenue rises 1% to record high, profit slips
OverviewU.S. sorbent products maker's fiscal Q2 revenue rose 1% yr/yr to record highNet income for Q2 declined 3% Severe winter storm disrupted operations, delaying shipments and shifting revenue to next quarterOutlookCompany anticipates surpassing last yr's annual net income if current tren...Reuters
Wed, Mar 11
Trump says will reduce strategic petroleum reserve a little, according to local media interview
WASHINGTON, March 11 (Reuters) - U.S. President Donald Trump on Wednesday said that Washington will "reduce it a little bit" when asked whether he was looking at the threshold for the Strategic Petroleum Reserve in an interview with Cincinnati's Local 12.Reuters
Wed, Mar 11
Chubb to serve as lead US insurer for Gulf shipping amid Iran war
March 11 (Reuters) - Insurance giant Chubb CB.BN will be the lead partner on the U.S. International Development Finance Corporation's $20 billion Maritime Reinsurance Plan aimed at resuming commercial shipping in the Gulf, the agency said on Wednesday.The U.S.-Israeli conflict with Iran has wide...Reuters
Wed, Mar 11
Pain at the pumps will ease in a month or two, billionaire Catsimatidis says
Fuel prices surge due to Israel-US conflict with IranCatsimatidis calls for more US oil refining investmentBy Shariq Khan NEW YORK, March 11 (Reuters) - Consumers will get relief from the rapid increases in fuel prices at the pumps in a month or two, John Catsimatidis, the billionaire owner of a ...Reuters
Wed, Mar 11
Oil settles up nearly 5% as supply fears mount despite record stocks release plan
Three more vessels hit in Strait of HormuzFourteen ships struck since Iran war beganIEA proposes release of 400 million barrels of oilAnalysts call release insufficient to ease supply woesUS crude stocks up more than expected; fuel stocks dropBy Shariq Khan NEW YORK, March 11 (Reuters) - Oil pric...Reuters
Wed, Mar 11
US Plains HRW Wheat-Basis bids flat as farmers sell
CHICAGO, March 11 (Reuters) - Basis bids for hard red winter were unchanged in the U.S. Plains on Wednesday, with dealers noting an influx of farmers forward contracting wheat.Producers have taken advantage of a recent price rally to sell their crop.Wheat has gained support from the escalating U.S.-...Reuters
Wed, Mar 11
Iraq asks KRG to help pipe crude oil to Turkey, sources say
Iraq requests KRG oil flows to CeyhanKRG seeks dollar relief, security guarantees for pipelineIraq's southern oil production drops 70% due to Iran conflictBy Ahmed Rasheed and Maha El Dahan BAGHDAD, March 11 (Reuters) - Iraq has asked the Kurdistan Regional Government (KRG) if it would pu...Reuters
Wed, Mar 11
US natgas futures settle up over 6%, tracking global energy price gains
By Anjana Anil March 11 (Reuters) - U.S. natural gas futures settled more than 6% higher on Wednesday as global energy prices climbed, with traders closely monitoring the Middle East conflict to gauge supply disruptions and its impact on the market.Front-month gas futures NGc1 for April delivery ...Reuters
Wed, Mar 11
Sea drones target oil tankers in the Middle East as conflict risks widen
Naval drones used in attacks on oil tankers in Gulf regionIran suspected in attacks, showcasing naval drone capabilitiesSea drones pose significant threat to commercial vessels in key shipping lanesBy Cassell Bryan-Low LONDON, March 11 (Reuters) - Naval drones have been used in at least two attac...Reuters
Wed, Mar 11
Only Trump can approve possible US participation in oil release, says Burgum
WASHINGTON, March 11 (Reuters) - U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency's move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move.Burgum, speaking to CNBC, also sa...Reuters
Wed, Mar 11
CBOT wheat closes higher after previous day's profit-taking
CHICAGO, March 11 (Reuters) - Chicago Board of Trade wheat futures turned higher on Wednesday, but still remained generally rangebound, as investors corrected from the previous session's profit-taking, traders said.Wheat futures also firmed on signs of demand and support from the escalating U.S....Reuters
Wed, Mar 11
Iran has laid about a dozen mines in Strait of Hormuz, sources say
WASHINGTON, March 11 (Reuters) - Iran has deployed about a dozen mines in the Strait of Hormuz, two sources familiar with the matter said, in a move likely to complicate the reopening of the narrow waterway, an important route for shipping oil and liquefied natural gas.Exports of oil and LNG th...Reuters
Wed, Mar 11
GRAINS-Soybeans rally for second day, grains turn higher, as crude oil firms
Corn futures up; traders bet US farmers to plant less cornCrude oil rebound helps support soyoil, soybean futuresStrait of Hormuz closure affects fertilizer, fuel pricesBy P.J. Huffstutter CHICAGO, March 11 (Reuters) - Chicago Board of Trade soybean futures rallied for a second straight session o...Reuters
Wed, Mar 11
POLL-US natural gas stockpiles likely fell by 43 billion cubic feet last week
March 11 (Reuters) - U.S. energy firms likely pulled a 43 billion cubic feet of natural gas from storage last week, according to the average estimate in a Reuters poll released on Wednesday. That figure compares with a withdrawal of 64 bcf during the same week a year ago and a five-year average decl...Reuters
Wed, Mar 11
CBOT soybeans extend rally as crude oil rebounds
CHICAGO, March 11 (Reuters) - Chicago Board of Trade soybean futures rallied for a second straight session on Wednesday, as crude oil recovered from a day-earlier plunge while investors wrestled with disruption caused by the U.S.-Israeli war with Iran. Oil prices gained more than 4% on Wednes...Reuters
Wed, Mar 11
CBOT corn futures gain as crude oil prices recover
CHICAGO, March 11 (Reuters) - Chicago Board of Trade corn futures turned higher on Wednesday, following crude oil futures higher, as the grain is often used as feedstock for biofuels, traders said.Traders appeared to have shrugged off Tuesday's U.S. Department of Agriculture forecast that the wo...Reuters
Wed, Mar 11
Argentina's TGS to invest $3 bln in natural gas liquids project
By Eliana Raszewski and Rodrigo CamposNEW YORK/BUENOS AIRES, March 11 (Reuters) - Argentine energy firm Transportadora de Gas del Sur (TGS) said on Wednesday it will invest $3 billion in a new natural gas liquids project in the Vaca Muerta shale formation.The project, to be developed over almost fou...Reuters
Wed, Mar 11
US companies to increase oil production amid Iran conflict, Interior Secretary Burgum says
WASHINGTON, March 11 (Reuters) - U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict."I think you're going to see them all announcing that they've increased production, yo...Reuters
Wed, Mar 11
Oil tanker seized by US in relation to Venezuela set to transfer crude to smaller vessel
By Arathy Somasekhar HOUSTON, March 11 (Reuters) - An oil tanker seized by the United States for carrying Venezuelan oil is set to transfer the crude to a smaller vessel off the coast of Texas that can take it to shore, ship tracking data showed on Wednesday. The United States last month sought t...Reuters
Wed, Mar 11
