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Oil heads for weekly rise as US adds sanctions on Iran, OPEC cuts
SINGAPORE, April 17 (Reuters) - Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged further output cuts to compensate for pumping above agreed quotas.
Reuters
Thu, Apr 17
Valero books $1.1 bln impairment, may idle California refinery
April 16 (Reuters) - Valero Energy Corp VLO.N said on Wednesday it was taking a $1.1 billion pre-tax impairment related to its California refineries and told state regulators it would permanently shut or restructure its San Francisco-area refinery in Benicia, California by the end of April 2026.The ...Reuters
Thu, Apr 17
US issues new sanctions targeting Chinese importers of Iranian oil
Action comes as Trump administration has relaunched negotiations with IranSanctions target China-based small independent refinersAction also targets companies, vessels tied to Iran's 'shadow fleet'Chinese embassy says China will take necessary steps to safeguard its legitimate rights and...Reuters
Wed, Apr 16
Motiva restarts FCC at Port Arthur, Texas refinery, sources say
HOUSTON, April 16 (Reuters) - Motiva Enterprises MOTIV.UL restarted the gasoline-producing fluidic catalytic cracker (FCC) at its 626,000 barrel-per-day (bpd) Port Arthur, Texas refinery, people familiar with plant operations said on Wednesday. The FCC was operating at 69,300 bpd on Wednesday, or 86...Reuters
Wed, Apr 16
Over 100 employees leave US EIA, putting crucial energy data at risk, sources say
About 40% of EIA's staff take buyout offers, sources sayEIA's data reports often move global oil pricesAgency reviewing which reports it might have to stopBy Arathy Somasekhar and Stephanie Kelly HOUSTON, April 16 (Reuters) - The U.S. government's energy statistics arm is set to lose ...Reuters
Wed, Apr 16
Railroad operator CSX misses quarterly estimates as coal revenue falls
April 16 (Reuters) - Railroad operator CSX CSX.O reported first-quarter revenue and profit below Wall Street estimates on Wednesday, as gains in intermodal were offset by a decline in coal revenue and fuel surcharge.Demand for coal has been hampered by consumers switching to cheaper natural gas stoc...Reuters
Wed, Apr 16
US Cash Crude-Grades mixed as crude stocks rise, domestic refinery demand grows
April 16 (Reuters) - Physically traded U.S. crude grades were mixed on Wednesday, dealers said, as buyers contended with growing refinery demand as well as a rise in crude inventories. U.S. oil refiners are expected to have about 1.6 million barrels per day of capacity offline in the week ending Apr...Reuters
Wed, Apr 16
LIVESTOCK-CME cattle, hog futures rise on fund buying
By Heather Schlitz CHICAGO, April 16 (Reuters) - Chicago Mercantile Exchange cattle and hog futures moved higher on Wednesday as a weaker dollar and a seasonal uptick in demand supported prices, traders said. Retailer demand for beef and pork has increased as the start of the grilling season appr...Reuters
Wed, Apr 16
CIF/FOB Gulf Grain-Soybean barge basis eases on sluggish spot demand
CHICAGO, April 16 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals eased on Wednesday, amid lukewarm spot demand and as soybean buyers looked to the South American crop, traders said.* CIF corn basis bids also eased, offsetting support from a weakening U.S. dollar,...Reuters
Wed, Apr 16
US orders halt on construction of New York offshore wind project
April 16 (Reuters) - U.S. Interior Secretary Doug Burgum said on Wednesday he was directing his agency to halt construction on Equinor's EQNR.OL Empire Wind offshore wind project off the coast of New York.In a post on X, Burgum said information suggested the Biden administration rushed the proje...Reuters
Wed, Apr 16
US natgas prices slide 3% to 10-week low on near-record output, mild weather
U.S. LNG export feedgas on track to hit record high in AprilU.S. gas output on track to hit record high in AprilU.S. gas storage about 4% below five-year averageBy Scott DiSavino April 16 (Reuters) - U.S. natural gas futures slid about 3% on Wednesday to a 10-week low on near-record output and a ...Reuters
Wed, Apr 16
ICE canola futures gain again
WINNIPEG, Manitoba - April 16 (Reuters) - ICE canola futures gained again Wednesday, notching an 18th rise in 21 sessions since March 24.• Most-traded July canola RSN5 settled up $4.20 at $680.70 per metric ton. Other contract months had similar gains. November RSX5 is at a more than $20 discount to...Reuters
Wed, Apr 16
GRAINS-Soybeans rise on weaker dollar; tariff threats priced in
Soy, wheat rise on weaker dollarCorn ticks up on weather risksBy Heather SchlitzCHICAGO, April 16 (Reuters) - Chicago soybean futures gained strength on Wednesday from a weaker dollar and a report that China would be open to trade negotiations with the U.S., though big supplies from South America an...Reuters
Wed, Apr 16
CBOT corn higher on weather risks, falling dollar
CHICAGO, April 16 (Reuters) - Chicago Board of Trade corn futures rose on Wednesday on support from a renewed weakening of the U.S. dollar and weather risks to the U.S. corn crop.CBOT May corn CK25 settled up 3 cents to $4.84-1/4 per bushel.July corn CN25 ended up 2-1/4 cents to $4.91-3/4 a bushel.T...Reuters
Wed, Apr 16
Oil up 2% to a 2-week high as new US sanctions target Iran's exports
U.S. issues new sanctions on Chinese imports of Iranian oilGlobal trade tensions dominateU.S. crude stockpiles rose last week, EIA data shows Chinese quarterly GDP growth beats expectationsBy Georgina McCartney HOUSTON, April 16 (Reuters) - Oil prices rose nearly 2% on Wednesday to a two-week hig...Reuters
Wed, Apr 16
CBOT soybeans rise on weaker dollar, renewed trade optimism
CHICAGO, April 16 (Reuters) - Chicago Board of Trade soybean futures gained strength on Wednesday from a weaker dollar and a report that China would be open to trade negotiations with the U.S., though big supplies from South America continued to loom over the market, analysts said.CBOT May soybeans ...Reuters
Wed, Apr 16
US Treasury Secretary Bessent: The US is ready to get Iran's energy exports to zero
The US Treasury Secretary Scott Bessent posted in X.com that the Trump administration will apply maximum pressure on Iran to disrupt the regime’s oil supply chain and exports, due to the country’s supporting terrorist proxies and partners.Fxstreet
Wed, Apr 16
CBOT wheat rises on weather risks to spring wheat crop
CHICAGO, April 16 (Reuters) - Chicago Board of Trade wheat futures ticked higher on Wednesday on support from a weaker dollar and excess rain for the spring wheat crop in the U.S. Midwest.CBOT May soft red winter wheat WK25 settled up 5-3/4 cents to $5.47-3/4 per bushel.K.C. May hard red winter whea...Reuters
Wed, Apr 16
World Bank's Banga doubles down on intent to end ban loans for nuclear power projects
Trump administration pushing for energy agnostic lendingBanga has championed shift since taking office in June 2023US is largest single shareholder, with 15.83%By Andrea Shalal WASHINGTON, April 16 (Reuters) - World Bank President Ajay Banga on Wednesday doubled down on his push to revamp the ban...Reuters
Wed, Apr 16
Siemens Energy posts highest margin since spin-off after strong Q2
Posts forecast-beating second quarter resultsRaises outlook for margin, sales, free cash flowFrankfurt-listed shares up 2.2%By Christoph SteitzFRANKFURT, April 16 (Reuters) - Siemens Energy ENR1n.DE on Wednesday posted its best profit margin since being spun off from Siemens nearly five years ago, c...Reuters
Wed, Apr 16
