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PRESS DIGEST-Canada - Aug 5
Aug 5 (Reuters) - The following are the top stories from The Globe And Mail. Reuters has not verified these stories and does not vouch for their accuracy.THE GLOBE AND MAIL- Health Canada is taking longer to assess generic drug applications, lengthening the wait until the cheaper pharmaceuticals can...Reuters
Tue, Aug 5
GRAINS-Wheat near five-year trough, corn at contract lows as supply weighs
PARIS/CANBERRA, Aug 5 (Reuters) - Chicago wheat futures eased on Tuesday to approach their lowest since 2020 as seasonal supply pressure from Northern Hemisphere harvests weighed on the market.Corn edged down to set fresh contract lows, with steady U.S. crop conditions and a bumper Brazilian harvest...Reuters
Tue, Aug 5
Ameren unit gets green light for $1.6 billion Illinois power transmission project
Aug 5 (Reuters) - Utility Ameren Corp's AEE.N Illinois unit said on Tuesday it has got approval to build and upgrade 380 miles of power lines across 13 counties in the state as part of a $1.6 billion project to boost energy access.Construction is set to begin later this year and is expected to b...Reuters
Tue, Aug 5
India accuses EU, US of double standard over Russian trade
India accuses US, EU of double standard over Russian tradeHighlights EU's 67.5 billion euros in trade with RussiaSays India imports Russian uranium, palladium, fertilisersBoth US and EU have heavily cut back on trade with Moscow NEW DELHI, Aug 5 (Reuters) - India has sharply criticised the U...Reuters
Tue, Aug 5
Gold Price Forecast: XAU/USD extends reversal from $3,385, bears eye $3,345 support
Gold (XAU/USD) is accelerating its reversal from two-week highs at $3,385 on Tuesday. A moderate rebound in US Treasury yields and a somewhat firmer USD are weighing on the precious metal as the markets shift their focus away from Friday’s poor employment report.Fxstreet
Tue, Aug 5
OPEC+ significantly increases oil production again in September – Commerzbank
The eight OPEC+ countries with voluntary production cuts decided on Sunday, as widely expected, to increase the agreed production volume in September by a further 547,000 barrels per day, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Tue, Aug 5
Marathon Petroleum beats second-quarter profit estimates
Aug 5 (Reuters) - Refiner Marathon Petroleum MPC.N beat Wall Street estimates for second-quarter profit on Tuesday, helped by improving refining margins.The company reported adjusted profit of $3.96 per share for the three months ended June 30, compared with analysts' average estimate of $3.29 p...Reuters
Tue, Aug 5
Oil prices under pressure after weak US data – Commerzbank
Oil prices fell by another 2% yesterday after already dropping significantly on Friday. Brent traded at just $68 per barrel at times. That is around $4 less than last Thursday, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Tue, Aug 5
EU still expects turbulence in trade relations with US
EU awaits executive orders on cars and other sectorsEU expects joint statement with US on trade to be finalised soonEU not celebrating US deal, but says it is better than othersBy Jan Strupczewski and Julia Payne BRUSSELS, Aug 5 (Reuters) - The European Union still expects turbulence in trade rel...Reuters
Tue, Aug 5
EU will not change methane regulation but there is some flexibility, official says
BRUSSELS, Aug 5 (Reuters) - An EU official said on Tuesday that the bloc's methane regulation has come up in U.S. trade talks but the EU stands "firmly" behind its legislation.The official said that questions relating to energy still need to be ironed out in a joint statement on EU-U.S. ...Reuters
Tue, Aug 5
Why did copper escape US tariffs when aluminium did not?
Copper is exempt due to its importance to U.S. manufacturingAluminium tariffs are supported by Century AluminumEnergy costs hinder expansion of US aluminium smelting capacityBy Pratima Desai LONDON, Aug 5 (Reuters) - A U.S. decision last week to exempt refined copper metal from import duties is i...Reuters
Tue, Aug 5
EXCLUSIVE-Trinidad, ExxonMobil agree to terms for deepwater blocks, government sources say
Deal could be signed as soon as next weekArea to be awarded includes seven blocks renamed as Ultra Deep 1Signing bonus, three-phase exploration program agreedBy Curtis Williams HOUSTON, Aug 5 (Reuters) - Trinidad and Tobago's government has agreed to award U.S. oil major ExxonMobil XOM.N acre...Reuters
Tue, Aug 5
EU will not change methane regulation but there is some flexibility, EU official says
BRUSSELS, Aug 5 (Reuters) - An EU official said on Tuesday that the bloc's methane regulation has come up in U.S. trade talks but the EU stands "firmly" behind its legislation."We stand firmly by this regulation, it is the first of its kind," the official told reporters. "Bas...Reuters
Tue, Aug 5
Asia Fuel Oil-Spot markets under pressure in ample supply
SINGAPORE, Aug 5 (Reuters) - Asia spot fuel oil markets remained under pressure in the near term, weighed by ample supply from various origins.Incoming arrivals to Asia totalled more than 4.5 million metric tons for the month, ship-tracking data showed as of Tuesday, with more volumes expected to em...Reuters
Tue, Aug 5
ANALYSIS-Sliding US rig count outpaces efficiency gains, threatening onshore oil output
Falling U.S. rig count threat to oil production Lower 48 oil production expected to fall next year, analysts sayPermian rig count to fall below models for steady outputAnalysts model Permian rig count at 240-260 for steady outputBy Georgina McCartneyHOUSTON, Aug 5 (Reuters) - The falling number of o...Reuters
Tue, Aug 5
EU says it is close to final joint statement with U.S on framework trade deal
BRUSSELS, Aug 5 (Reuters) - The European Union (EU) is close to its final joint statement with the United States regarding their framework trade deal although no precise time can be given yet regarding when this will be published, said a senior EU official on Tuesday."It is pretty much ready and...Reuters
Tue, Aug 5
EUROPE GAS-Dutch prices little changed amid stable supply
LONDON, Aug 5 (Reuters) - Dutch wholesale gas prices were little changed on Tuesday morning amid stable supply. The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 edged down by 0.20 euro to 34.00 euros per megawatt hour (MWh) at 0755 GMT, LSEG data showed.The October contract was up...Reuters
Tue, Aug 5
