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COLUMN-Oil price smile could leave traders in tears: Bousso
IEA, EIA forecast large supply overhang in coming quartersYet future Brent oil price do not reflect the need to store oilGeopolitical tensions blur the outlook for supply and demandBy Ron Bousso LONDON, Aug 20 (Reuters) - A glaring mismatch between benchmark oil prices and expectations of a loomi...Reuters
Wed, Aug 20
Putin, Modi to meet in Delhi by end of year, Russian embassy official says
NEW DELHI, Aug 20 (Reuters) - Russian President Vladimir Putin and India's Narendra Modi will meet in New Delhi by the end of year, but no dates have been finalised yet, a Russian embassy official in India said on Wednesday.Reuters
Wed, Aug 20
Gold hits three-week low as USD steadies and Russia-Ukraine peace hopes rise
Gold (XAU/USD) hits a nearly three-week low during the Asian session on Wednesday, with the bears now awaiting a sustained break below the 100-day Simple Moving Average (SMA) before positioning for further losses.
Fxstreet
Wed, Aug 20
South Korean petrochemical companies to cut capacity, restructure, government says
South Korea's petrochemical sector to cut capacity to boost efficiencyGovernment to ease regulations, offer financial support for restructuringGlobal petrochemical margins unlikely to recover before 2027, analysts saySEOUL, Aug 20 (Reuters) - Ten South Korean petrochemical companies have agreed ...Reuters
Wed, Aug 20
TotalEnergies Texas refinery begins small crude unit overhaul, sources say
By Erwin SebaHOUSTON, Aug 19 (Reuters) - TotalEnergies TTEF.PA began a planned 60-day overhaul on the small crude distillation unit (CDU), along with a reformer and hydrotreaters at its 238,000 barrel-per-day Port Arthur, Texas refinery, people familiar with plant operations said on Tuesday.The 35,0...Reuters
Wed, Aug 20
METALS-Aluminium hits over two-week low as US widens 50% tariff
BEIJING, Aug 20 (Reuters) - Aluminium extended its fall on Wednesday to hit its lowest level in more than two weeks, after the United States widened the 50% import tariff on the metal and its products.The most-traded aluminium contract on the Shanghai Futures Exchange slid 0.44% to 20,500 yuan per m...Reuters
Wed, Aug 20
PRESS DIGEST-British Business - August 20
Aug 20 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times- The UK government has approved the sale of a British chipmaker, Plessey Semiconductors to a London fund called Ha...Reuters
Wed, Aug 20
Oil prices rise after supply concerns resurface as Ukraine peace talks stall
BEIJING, Aug 20 (Reuters) - Oil prices rose on Wednesday as supply concerns are resurfacing while peace talks ending Russia's invasion of Ukraine are likely to take longer, leaving in place sanctions on Russian crude and raising the chance of further restrictions on its buyers.
Reuters
Wed, Aug 20
TotalEnergies Texas refinery begins small crude unit overhaul, sources say
HOUSTON, Aug 19 (Reuters) - TotalEnergies TTEF.PA began a planned 60-day overhaul on the small crude distillation unit (CDU) along with a reformer and hydrotreaters at its 238,000 barrel-per-day (bpd) Port Arthur, Texas refinery, people familiar with plant operations said on Tuesday.The 35,000-bpd c...Reuters
Wed, Aug 20
RPT-Chinese refiners sweep up Russian oil after Indian demand falls, analysts say
China buys 15 Russian oil cargoes for October-November deliveryIndian demand for Russian oil declines as discounts narrow in JulyTrump threatens retaliatory tariffs against Russian oil buyers By Siyi Liu SINGAPORE, Aug 19 (Reuters) - Chinese refineries have purchased 15 cargoes of Russian oil for...Reuters
Wed, Aug 20
RPT-India's Russian oil imports dip in July, skips LatAm supply, data shows
India's July oil imports lowest since Sept 2023Share of OPEC's oil rises in JulySkips LatAm oil imports for the 1st time at least since 2011 By Nidhi Verma NEW DELHI, Aug 19 (Reuters) - India's Russian oil imports declined in July after jumping the previous month as some refiners slow...Reuters
Wed, Aug 20
Trump blasts appeals court for halting Resolution Copper land transfer
Trump says 'radical left court' trying to block Resolution Copper projectPost came after Trump met at White House with CEOs of Rio, BHPCourt calls for briefings to be filed by October 14San Carlos Apache tribe says Trump should avoid 'disastrous decision'By Ernest Scheyder Aug 19 ...Reuters
Wed, Aug 20
GRAINS-Soybean futures weaken on yield prospects, weak China demand
BEIJING, Aug 20 (Reuters) - Chicago soybean futures fell on Wednesday, weighed down by strong pod counts in some fields that point to solid yield potential, along with lingering concerns over weak demand from China.Wheat dipped on ample global supply, while corn held steady. FUNDAMENTALS* The most a...Reuters
Wed, Aug 20
WTI drifts lower to near $62.00 on talks to end Russian invasion of Ukraine
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.05 during the early Asian trading hours on Wednesday. The WTI edges lower on the prospect of peace in Ukraine after the end of talks between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy.Fxstreet
Wed, Aug 20
Goldman Sachs Lowers Nov/Dec25 US Gas Price Forecast To $4/Mmbtu, From $4.50 Previously
Aug 19 (Reuters) - GOLDMAN SACHS:LOWERS NOV/DEC25 US GAS PRICE FORECAST TO $4/MMBTU, FROM $4.50 PREVIOUSLYMAINTAINS $4.60/MMBTU 2026 US GAS PRICE FORECAST, WELL ABOVE FORWARDS AT $3.81, AND CONTINUES TO RECOMMEND LONG APR26 US GAS POSITIONLOWERS SEP/OCT25 PRICE FORECAST BY $0.55 TO $3.35/MMBTUReuters
Tue, Aug 19
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, Aug 20 (Reuters) - Contract Target Support/Resistance Brent oil $64.98/$64.40/$63.61res $66.52/$67.20/$68.05Palm oil (3rd month)4,455/4,421/4,400 ringgitres 4,509/4,542 ringgitWTI* $62.12/$61.38/$60.59res $63.46/$64.10/$64.74Spot gold$3,301re...Reuters
Tue, Aug 19
US Cash Crude-Coastal grades firm as WTI/Brent spread widens
Aug 19 (Reuters) - Coastal crude differentials strengthened on Tuesday as U.S. crude futures' discount to the international benchmark Brent widened to its most since June. Mars rose 50 cents, while Light Louisiana Sweet rise 10 cents on Tuesday. West Texas Intermediate crude futures' (WTI) d...Reuters
Tue, Aug 19
Iraq signs agreement with Chevron on oil exploration projects, prime minister says
CAIRO, Aug 19 (Reuters) - Iraq signed an agreement in principle with U.S. oil producer Chevron CVX.N for the Nassiriya project that consists of four exploration blocks in addition to the development of other producing oil fields, Iraq's prime minister said on Tuesday. Iraq in the past two yea...Reuters
Tue, Aug 19
Alaska's limited flood cover takeup in focus as it braces for a greater impact from the peril
By Mia MacGregorAug 19 - (The Insurer) - Glacial outburst floods are escalating in severity in Juneau, Alaska, prompting emergency defenses, damaging homes and accelerating efforts to develop lasting protections in a state with notably limited flood insurance coverage.Meltwater from Suicide Basin, a...Reuters
Tue, Aug 19
