News
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Argentina's YPF to boost shale production to 190,000 bpd by year-end
Aug 8 (Reuters) - Argentine state oil producer YPF YPFDm.BA is targeting a further boost in its shale oil output this year, aiming to come up to 190,000 barrels per day (bpd) by the end of the year, the firm's CEO said on Friday.In July, shale production had already reached 165,000 bpd, YPF'...Reuters
Fri, Aug 8
US customs service publishes ruling for gold bars tariff classification
LONDON, Aug 8 (Reuters) - The U.S. customs and border protection service said on its website on Friday that the HS customs code of 7108.13.5500 should be used for deliveries of gold kilo bullion bar and 100 ounce bullion bar to the United States.The ruling, published on its website, was its reply fr...Reuters
Fri, Aug 8
GRAINS-Chicago rebound stalls as supply pressure lingers
PARIS/CANBERRA, Aug 8 (Reuters) - Chicago wheat, corn and soybean futures were little changed on Friday as an export-fuelled bounce lost momentum, with expectations of ample supply lingering and traders looking ahead to U.S. government crop forecasts.The most-active wheat contract on the Chicago Boa...Reuters
Fri, Aug 8
Reliance likely to switch back to Middle East oil if Russian supply dries up
By Nidhi Verma NEW DELHI, Aug 8 (Reuters) - Reliance Industries RELI.NS is likely to shift back to its traditional Middle Eastern sources for oil if India yields to pressure from U.S. President Donald Trump to cut Russian imports, trade sources said.India became the biggest buyer of seaborne Russ...Reuters
Fri, Aug 8
Gold drifts lower after bulls fail to sustain above $3,400
Gold (XAU/USD) is edging lower on Friday after peaking at $3,409 earlier in the day, its highest level in two weeks amid a cautious market mood. At the time of writing, the metal is hovering near $3,395 at the start of the American session.
Fxstreet
Fri, Aug 8
SOFTS-Coffee gains amid low stocks and as tariffs freeze US-Brazil trade
LONDON, Aug 8 (Reuters) - Coffee futures on ICE rose on Friday, heading for gains of 7% on the week, as U.S.-Brazil trade remains frozen due to the Trump administration's tariffs, and as stocks continue to slide. Cocoa and sugar also rose. COFFEE * Arabica coffee futures...Reuters
Fri, Aug 8
PRECIOUS-Gold futures climb to fresh record after report of US tariff move
US gold futures jump to an all-time high of $3,534.10US imposes tariffs on 1-kg gold bars, FT reportsSpot gold on track for second straight weekly gain, up 0.7%By Sherin Elizabeth Varghese Aug 8 (Reuters) - U.S. gold futures surged to a record on Friday after a report that Washington has imposed ...Reuters
Fri, Aug 8
Pyxis Tankers Q2 revenue falls 34%, misses estimates
OverviewPyxis Tankers Q2 revenue falls 34.2% yr/yr, missing analysts' expectationsAdjusted EBITDA for Q2 misses estimates, reflecting challenging market conditionsCompany reports Q2 net loss of $2.0 mln due to lower charter ratesOutlookCompany expects challenging chartering environment for tanke...Reuters
Fri, Aug 8
Possible tariffs on Gold imports into the US cause turmoil on the Gold market – Commerzbank
According to a report yesterday in the Financial Times, Gold bars weighing 1 kilogram and 100 ounces were classified as subject to tariff by the US Customs Border Protection agency on July 31, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Aug 8
RPT-BREAKINGVIEWS-Foxconn's TECO deal dials up AI shift from iPhones
By Katrina Hamlin HONG KONG, Aug 8 (Reuters Breakingviews) - Apple AAPL.O has been diversifying from its core iPhone business, so why shouldn't key supplier Foxconn 2317.TW? The electronics giant’s cash cow has long been contract manufacturing for the company run by Tim Cook. But the artifici...Reuters
Fri, Aug 8
Barrick Announces Sale Of Alturas Project
Aug 8 (Reuters) - Barrick Mining Corp ABX.TO:BARRICK ANNOUNCES SALE OF ALTURAS PROJECTBARRICK MINING CORP - SELLS ALTURAS PROJECT IN CHILE FOR $50 MILLIONBARRICK MINING CORP - GRANTED 0.5% ROYALTY NET SMELTER RETURN ROYALTY ON GOLD AND SILVER PRODUCED FROM ALTURAS PROJECTReuters
Fri, Aug 8
CORRECTED-Cannabis firm Canopy's Q1 revenue beats estimates
OverviewCanopy Growth fiscal Q1 revenue rises 9% yr/yr, beating analyst expectationsGross margin declines to 25% from 35% due to product mix shiftSG&A expenses down 21% yr/yr, achieving C$17 mln in cost savingsOutlookSupply chain improvements to boost cannabis supply in Europe H2 FY2026Company t...Reuters
Fri, Aug 8
ANALYSIS-Argentina's copper dreams need infrastructure - but who will build it?
Argentina has not produced copper since 2018, despite rich depositsSan Juan's compensation program could boost infrastructure developmentPlanned copper projects could boost mining exports to $15.4 billion by 2030By Lucila Sigal SAN JUAN, Aug 8 (Reuters) - Argentina holds rich copper deposits ...Reuters
Fri, Aug 8
Indian state refiners step up non-Russian oil purchases under Trump pressure
IOC, BPCL snap up spot crude after halting Russian oil buysIOC buys 5 million bbls crude for October arrival in latest tender, sources sayBPCL buys 9 million bbls crude for September delivery, source saysBy Nidhi Verma and Florence Tan NEW DELHI/SINGAPORE, Aug 8 (Reuters) - India's biggest st...Reuters
Fri, Aug 8
Algonquin Power's Q2 net earnings drop 90% on Atlantica sale
OverviewAlgonquin Power Q2 net earnings fell 90% yr/yr due to Atlantica saleAdjusted net earnings for Q2 declined 13%, reflecting corporate challengesHydro Group Q2 net earnings surged 176%, driven by operational improvementsOutlookCompany estimates 2025 adjusted EPS between $0.30 and $0.32AQN expec...Reuters
Fri, Aug 8
Gold futures hits record high around $3,530 after Trump’s tariffs on gold bars
Gold price futures post a fresh all-time high around $3,534.00 on Friday. The precious metal strengthens, following the announcement of tariffs on imports of one-Kilogram (KG) gold bar by United States (US) President Donald Trump, a move that prompted supply concerns.Fxstreet
Fri, Aug 8
China July Copper imports jump on strong domestic demand – ING
Preliminary China’s Customs data showed strong domestic demand for industrial metals. Imports of unwrought Copper rose 9.1% YoY (+4.3% MoM) to 480kt in July, ING's commodity experts Ewa Manthey and Warren Patterson note, ING's commodity experts Ewa Manthey and Warren Patterson note.Fxstreet
Fri, Aug 8
ANALYSIS-Colombia's offshore energy hopes deflate amid poor discoveries, stricter regulations
Shell recently left the country, Chevron shrank operationsForeign capital loss to exacerbate trade imbalances as need for imports surges Petro defends fracking ban, stricter rules for conventional oil, gasSome oil companies now expanding interest in offshore PeruBy Marianna Parraga and Nelson Bocane...Reuters
Fri, Aug 8
