News
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CANADA-CRUDE-Discount on Western Canada Select narrows
Aug 12 (Reuters) - The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures CLc1 narrowed on Tuesday.WCS for September delivery in Hardisty, Alberta, settled at $12.15 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $1...Reuters
Tue, Aug 12
Trinidad awards deepwater blocks to Exxon, could see $21.7 billion investment, minister says
Exxon aims to replicate Guyana success in Trinidad's deepwaterInitial exploration plan requires $42 million for seismic, wellsTrinidad's existing infrastructure may speed up Exxon's outputBy Curtis Williams Aug 12 (Reuters) - Exxon Mobil XOM.N could invest as much as $21.7 billion in ...Reuters
Tue, Aug 12
US Plains HRW Wheat-Basis flat to lower
CHICAGO, Aug 12 (Reuters) - Spot basis bids for hard red winter wheat were steady to down in a spot check of locations in the southern U.S. Plains on Tuesday as futures eased.Dealers said selling by farmers had been minimal. Protein premiums for railcar wheat shipped to and through Kansas City gaine...Reuters
Tue, Aug 12
US imposes sanctions on Congo armed group, mining firms over illicit minerals
Sanctions put on PARECO-FF militia and two Hong Kong exportersGroup had controlled sites in mineral-rich RubayaPeace talks ongoingBy Portia Crowe and David Lewis Aug 12 (Reuters) - The United States on Tuesday announced sanctions against an armed group aligned with Congo's military as well as...Reuters
Tue, Aug 12
Venture Global wins arbitration case against Shell over failure to deliver contracted LNG cargoes
HOUSTON, Aug 12 (Reuters) - Venture Global VG.N has won a legal battle against Shell SHEL.L over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday.Reuters
Tue, Aug 12
Chevron-chartered tanker docks at Venezuela to load oil after new US license
By Marianna Parraga and Arathy Somasekhar HOUSTON, Aug 12 (Reuters) - A Chevron-chartered CVX.N tanker docked at Venezuelan state company PDVSA's Jose terminal on Tuesday, positioning it to be the first to export crude to the United States under a new license Chevron received in July, LSEG tr...Reuters
Tue, Aug 12
US trade team will meet Chinese officials in next 2-3 months, Bessent says
WASHINGTON, Aug 12 (Reuters) - U.S. trade officials will meet again with their Chinese counterparts within the next two or three months to discuss the future of the economic relationship between the two countries, Treasury Secretary Scott Bessent said on Tuesday, a day after the Trump administration...Reuters
Tue, Aug 12
CAVA Group Q2 revenue grows 20.3% but misses estimates
OverviewCAVA fiscal Q2 revenue grows 20.3% yr/yr but misses analyst expectationsCompany opened 16 net new restaurants, total now 398CAVA net income for Q2 was $18.4 mln, slightly down from last yearOutlookCAVA Group forecasts same restaurant sales growth of 4.0% to 6.0%Company maintains restaurant-l...Reuters
Tue, Aug 12
CarParts.com Q2 sales miss estimates
OverviewCarParts.com Q2 net sales rise 5% to $151.9 mln, missing estimatesNet loss widens to $12.7 mln due to lower margins, higher marketing spendCompany exploring strategic alternatives, including potential sale or investmentsOutlookCarParts.com is not providing 2025 guidance due to strategic eval...Reuters
Tue, Aug 12
US Cash Crude-WTI at East Houston trades at strongest since April
Aug 12 (Reuters) - Cash crude differentials for U.S. West Texas Intermediate crude at East Houston traded on Tuesday at their strongest since April, dealers said, as the spread between U.S. crude futures and global benchmark Brent widened to the most since June. U.S. crude futures' discount to B...Reuters
Tue, Aug 12
Oil prices dip as market awaits EIA report
US and China extend tariff pause to NovemberTrump-Putin talks on Friday cloud oil outlook OPEC upgrades 2026 oil demand growth forecastOil traders watching EIA report By Erwin Seba HOUSTON, Aug 12 (Reuters) - Oil prices dipped on Tuesday as traders awaited an inventory report from the U.S. Energy...Reuters
Tue, Aug 12
ICE canola futures slump on surprise canola tariffs
WINNIPEG, Manitoba, Aug 12 (Reuters) - ICE canola futures slumped on China imposing temporary tariffs on Canadian canola from Thursday, but bounced well off session lows.• November canola RSFX5 settled down $30.50 at $650.30 per metric ton. January RSF6 fell $29.10 to $663.10. The daily limit is $45...Reuters
Tue, Aug 12
US natgas prices fall 5% to eight-month low on near-record output and less hot weather
Near-record output and ample supplies contribute to price declineTropical Storm Erin could reduce demand and gas pricesGas stockpiles 6% above normal levels and expected to growBy Scott DiSavino Aug 12 (Reuters) - U.S. natural gas futures fell about 5% to an eight-month low on Tuesday on near-rec...Reuters
Tue, Aug 12
EIA sees Brent oil prices falling to less than $60/bbl in Q4
Aug 12 (Reuters) - The U.S. Energy Information Administration on Tuesday forecast Brent crude oil spot prices will average less than $60 per barrel in the fourth quarter, which would be the first quarter with average prices that low since 2020. It said in its August Short Term Energy Outlook (STE...Reuters
Tue, Aug 12
GRAINS-Corn dives after USDA projects bin-busting US harvest, soybeans rise
USDA projects record corn harvest, shocking market with acreage adjustmentsSoybeans rise due to smaller-than-expected harvest and tighter suppliesWheat futures fall amid ample global supplies, following corn's declineBy Karl Plume CHICAGO, Aug 12 (Reuters) - U.S. corn futures plunged to contr...Reuters
Tue, Aug 12
Exxon could invest as much as $21.7 billion if it finds oil, gas in Trinidad, energy minister says
Aug 12 (Reuters) - Exxon Mobil XOM.N could invest as much as $21.7 billion in Trinidad and Tobago if the energy major finds reserves in a large deepwater area it plans to explore for oil and gas in the Caribbean country, energy minister Roodal Moonilal said.The official spoke on Tuesday at an event ...Reuters
Tue, Aug 12
US to retaliate against IMO members that back net zero emissions plan
US opposes IMO proposal citing cost concerns for citizens and businessesUS exited IMO talks on net-zero framework in AprilMajor shipping firms committed to net zero by 2050By Lisa Baertlein, Valerie Volcovici and Enes Tunagur Aug 12 (Reuters) - The U.S. on Tuesday rejected the "Net-Zero Frame...Reuters
Tue, Aug 12
CBOT wheat falls to contract lows on big supply, lower corn
CHICAGO, Aug 12 (Reuters) - Chicago Board of Trade wheat futures dropped to contract lows in all traded months on Tuesday, pressured by sharply lower corn prices and plentiful global wheat supplies.The U.S. Department of Agriculture sharply raised its 2025 U.S. corn harvest outlook in a monthly repo...Reuters
Tue, Aug 12
