News
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Treasury's Bessent says he was wrong when he said tariffs could be inflationary
WASHINGTON, Feb 4 (Reuters) - U.S. Treasury Secretary Scott Bessent on Wednesday said he was wrong when he and his Key Square investment firm told partners in January 2024 - before U.S. President Donald Trump won the presidency - that "tariffs are inflationary."Grilled about the document dur...Reuters
Wed, Feb 4
EU wheat holds firm with euro support as cold weather assessed
PARIS, Feb 4 (Reuters) - Euronext wheat futures edged up on Wednesday to hold near a 2-1/2 month high as a weaker euro offset pressure from lower U.S. prices.Trader were monitoring winter cold in northern hemisphere wheat belts, though snow cover was seen limiting the risks of significant crop damag...Reuters
Wed, Feb 4
PRECIOUS-Gold slips on firmer dollar; focus on geopolitics and US jobs data
ADP national employment report misses expectations January nonfarm payrolls report to be released on February 11Silver up over 28% this yearBy Anmol Choubey Feb 4 (Reuters) - Gold prices reversed course and slipped on Wednesday as the dollar strengthened and investors booked profits after rec...Reuters
Wed, Feb 4
Suncor to lay out plans for long-term bitumen supply this spring
Suncor's Base Plant mine to be largely depleted by mid-2030sPotential new 225,000 bpd oil sands mine expansion proposedSuncor's performance improved under CEO Rich KrugerBy Amanda Stephenson CALGARY, Feb 4 (Reuters) - Canadian oil sands producer Suncor Energy SU.TO will present the market...Reuters
Wed, Feb 4
METALS-Copper falls on stronger dollar and inventories outlook
By Polina Devitt LONDON, Feb 4 (Reuters) - Copper prices fell on Wednesday, pressured by a stronger dollar and rising metal availability in exchange stockpiles while traders played down Chinese plans to expand strategic reserves.Benchmark three-month copper CMCU3 on the London Metal Exchange was ...Reuters
Wed, Feb 4
Europe Gasoline/Naphtha-Gasoline refining margins gain
LONDON, Feb 4 (Reuters) - Northwest European gasoline refinery profit margins rose on Wednesday by 74 cents to about $7.28 a barrel as U.S. inventories rose by less than expected.About 6,000 metric tons of Eurobob E10 gasoline traded on barges in the Argus window, with Phillips 66 and Shell selling ...Reuters
Wed, Feb 4
Bessent: Fed lost trust of American people over inflation, threatening independence
WASHINGTON, Feb 4 (Reuters) - U.S. Treasury Secretary Scott Bessent on Wednesday said that the independence of the Federal Reserve was based on Americans' trust of the central bank, which it lost because it allowed inflation to get out of control and "ravage" their incomes.Bessent, asked...Reuters
Wed, Feb 4
UK asks Air India to explain Boeing Dreamliner fuel-switch incident
Air India facing intense scrutiny since crash last year UK seeking details after Sunday incident involving one planePossible fuel switch defect flagged by pilot on landing from UKAir India says will respond to UK regulatorBy Aditya Kalra and Abhijith Ganapavaram NEW DELHI, Feb 4 (Reuters) - Brita...Reuters
Wed, Feb 4
GRAINS-Chicago soybeans jump to two-month high on Trump comments
By Heather Schlitz CHICAGO, Feb 4 (Reuters) - Chicago Board of Trade soybean futures hit a two-month high on Wednesday following comments by U.S. President Donald Trump about China buying more U.S. soybeans, traders said.In a post on his Truth Social platform, Trump said China is "lifting the...Reuters
Wed, Feb 4
FACTBOX-Trump administration pivots to buying stakes in critical sectors
Feb 4 (Reuters) - The Trump administration is ramping up efforts to secure U.S. supply chains for critical minerals and semiconductors by converting federal grants for companies into equity stakes, aimed at reducing reliance on China. U.S. Vice President JD Vance on Wednesday unveiled plans ...Reuters
Wed, Feb 4
FACTBOX-Who is the Baloch Liberation Army behind Pakistan's Balochistan attacks?
KARACHI, FEB 4 (Reuters) - Pakistan's banned separatist group the Baloch Liberation Army (BLA) claimed responsibility for coordinated gun and bomb attacks that killed dozens of civilians and security personnel and triggered one of the deadliest security operations in Balochistan in years.The BLA...Reuters
Wed, Feb 4
REFILE-ANALYSIS-Oil majors snap up West African blocks in hunt for next Brazil
Restocking majors looking beyond US shaleWest Africa a 'super prolific area', Chevron exec says New exploration such as Angola key to sustaining output into 2030s, Shell says Offshore discoveries mirror Brazil, ECO Atlantic CEO saysNamibia showing most promise, including Orange BasinBy Wende...Reuters
Wed, Feb 4
Norway's Socialist Party backs down from threat to LNG electricity project
Parliament to vote on LNG plant's power connection on ThursdayOpposition sought to deny the electrification planSocialist Party reverses its position, allowing plan to proceedCritics argue grid connection could drive up power pricesBy Nora BuliOSLO, Feb 4 (Reuters) - Norway's Socialist Party...Reuters
Wed, Feb 4
PRECIOUS-Gold holds steady with focus on geopolitics and US jobs data
Gold up about 16% so far in 2026Silver up over 28% this yearADP national employment report misses expectations By Anmol Choubey Feb 4 (Reuters) - Gold prices held steady after paring earlier gains on Wednesday, as attention remained on geopolitical developments and upcoming U.S. jobs data that co...Reuters
Wed, Feb 4
FACTBOX-Morgan Stanley raises near-term Brent forecasts, WFII lowers prediction
Feb 4 (Reuters) - Morgan Stanley has raised its near-term Brent forecasts, saying a geopolitical risk premium is likely to persist, but still expects prices below $60 per barrel later this year, it said in a note dated Tuesday.The bank raised its Brent forecast for the first quarter of 2026 to $62.5...Reuters
Wed, Feb 4
US gasoline stocks rose in latest week to highest since June 2020, EIA says
NEW YORK, Feb 4 (Reuters) - U.S. gasoline stockpiles rose by 685,000 barrels to 257.9 million barrels in the week ended January 30, their highest since June 2020, the Energy Information Administration (EIA) said in its Petroleum Status Report on Wednesday.Reuters
Wed, Feb 4
Olympics-Ice hockey-France's unlikely NHL veteran Bellemare makes dream Games debut at 40
MILAN, Feb 4 (Reuters) - France forward Pierre-Edouard Bellemare describes his Olympic debut at the age of 40 as a dream come true after playing 10 years in the NHL, describing his career as a "very cool story"."It's tough to wash off my smile right now," Bellemare said on Wednes...Reuters
Wed, Feb 4
