News
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Trump orders blockade of sanctioned oil tankers leaving, entering Venezuela
WASHINGTON, Dec 16 (Reuters) - U.S. President Donald Trump on Tuesday ordered "a total and complete" blockade of all sanctioned oil tankers entering and leaving Venezuela. "For the theft of our Assets, and many other reasons, including Terrorism, Drug Smuggling, and Human Trafficking, th...Reuters
Tue, Dec 16
CIF/FOB Gulf Grain-Soybean barge basis steady to higher on firm demand, freight costs
CHICAGO, Dec 16 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals in December were steady to firm on Tuesday on moderate exporter demand and rising freight costs, while corn basis bids were mostly steady to weak, traders said.Demand from Chinese importers for U.S. soy...Reuters
Tue, Dec 16
Petrobras enters Brazil solar energy segment in deal for 49.99% of Lightsource bp subsidiaries
SAO PAULO, Dec 16 (Reuters) - Brazil's state-run oil company Petrobras PETR3.SA signed a deal to acquire 49.99% of Lightsource bp's subsidiaries in the country, the firms said in a statement on Tuesday. The new partnership, which marks Petrobras' entry into the solar energy segment, will...Reuters
Tue, Dec 16
US Cash Crude-Grades firm even as benchmark prices weaken
HOUSTON, Dec 16 (Reuters) - U.S. cash crude grades strengthened on Tuesday even as benchmark prices weakened. Mars strengthened 55 cents, while SGC rose 60 cents and Thunder Horse rose 50 cents. Oil futures settled at their lowest level since February 2021 on Tuesday amid ongoing jitters surrounding...Reuters
Tue, Dec 16
Imports to busiest US seaport tumble 11.5% in November as tariffs bite, port executive says
Port of Los Angeles reports 11.5% drop in import volume in NovemberU.S. tariffs and global trade uncertainties to persist into 2026Potential U.S. Supreme Court ruling could impact future tariff policiesBy Lisa Baertlein LOS ANGELES, Dec 16 (Reuters) - The nation's busiest seaport handled 11.5...Reuters
Tue, Dec 16
QUOTES-Auto sector divided as EU unveils plans to undo 2035 combustion engine ban
Dec 16 (Reuters) - The European Commission on Tuesday made public proposals that would reverse an effective ban on sales of new internal combustion engine cars from 2035, bowing to pressure from Germany, Italy and major automakers.The proposed package cuts the planned 2035 goal to a 90% reduction in...Reuters
Tue, Dec 16
Venezuela faces demands for big oil discounts and contract changes after tanker seizure
PDVSA struggles with stuck cargoes and rising price discountsCustomers request relaxed payment terms, demurrage reimbursementsCyberattack disrupts PDVSA's administrative systems, halting oil deliveriesBy Marianna Parraga HOUSTON, Dec 16 (Reuters) - Venezuela's oil customers, including Chi...Reuters
Tue, Dec 16
EXCLUSIVE-Mexico's Pemex awards five contracts to boost oil output, fails to draw big players, document shows
Pemex awards five of 11 planned joint venture contractsContracts part of joint ventures aimed at adding 450,000 bpd Local companies primarily involved, Pemex holds 40%-85% stakesBy Ana Isabel Martinez, Adriana Barrera and Stefanie Eschenbacher MEXICO CITY, Dec 16 (Reuters) - Mexican state oil com...Reuters
Tue, Dec 16
Chicago wheat futures hit new lows amid hefty global grain supplies
CHICAGO, Dec 16 (Reuters) - Chicago Board of Trade wheat futures extended losses for a third session on Tuesday, slumping to fresh lows as the most-active contract Wv1 hovered near prices not seen since late October, while bumper harvests in Argentina and Australia underscored hefty global supplies,...Reuters
Tue, Dec 16
GRAINS-CBOT wheat sets fresh lows on global supply pressure, Ukraine ceasefire talks
Argentina and Australia report bumper wheat harvestsCorn futures affected by cheaper wheat suppliesSoybeans hit fresh seven-week low amid questions over US export demandBy P.J. Huffstutter CHICAGO, Dec 16 (Reuters) - Chicago Board of Trade wheat futures extended losses for a third session on Tues...Reuters
Tue, Dec 16
US Cash Grains-Corn, soybean basis bids hold steady at grain elevators
CHICAGO, Dec 16 (Reuters) - Corn and soybean basis bids were flat at grain elevators and processing facilities in the U.S. Midwest on Tuesday, grain dealers said.A river terminal near Davenport, Iowa, rolled its soybean bid to the Chicago Board of Trade March futures contract SH26 from the January S...Reuters
Tue, Dec 16
Oil settles near five-year low amid ample supply, Russia-Ukraine progress
Russia-Ukraine peace talks raise hopes for easing sanctionsSurge in Chinese buying from Venezuela, glut in floating storage limit market impact of US tanker seizureBy Liz Hampton and Seher Dareen DENVER, Dec 16 (Reuters) - Oil futures settled at their lowest level since February 2021 on Tuesday a...Reuters
Tue, Dec 16
CBOT soybean futures hit new seven-week low as investors unwind positions
CHICAGO, Dec 16 (Reuters) - Chicago Board of Trade soybean futures dropped to a new seven-week low on Tuesday, as investors unwound some of their positions amid ongoing concerns about U.S. export demand and expectations for a bumper Brazilian harvest, market analysts said. Traders have been disappoi...Reuters
Tue, Dec 16
Chicago corn futures dip to three-week low amid wheat glut
CHICAGO, Dec 16 (Reuters) - Chicago Board of Trade corn futures ended lower on Tuesday, touching a three-week low during the trading session, as weakness in the wheat market spilled over into corn futures, traders said.Cheap and plentiful Argentine and Australian feed wheat have underscored hefty gl...Reuters
Tue, Dec 16
Canada unveils new rules to lower oil and gas methane emissions
New rules aim for 75% methane reduction by 2035Previous draft rules criticized as too difficult by industryNew rules effective 2028, allow custom approaches to control methaneBy Amanda Stephenson CALGARY, Dec 16 (Reuters) - Canada announced long-promised rules on Tuesday aimed at dramatically red...Reuters
Tue, Dec 16
US natural gas futures dip 3% to six-week low on mild weather
Milder weather forecasts reduce natural gas demandRecord gas output allows for ample storageGlobal gas prices decline amid mild winter and Ukraine peace hopesLNG export feedgas near record highBy Scott DiSavino NEW YORK, Dec 16 (Reuters) - U.S. natural gas futures slid about 3% on Tuesday to ...Reuters
Tue, Dec 16
Constellation Energy secures 20-year license extensions for two nuclear plants
Dec 16 (Reuters) - Constellation Energy CEG.O said on Tuesday the U.S nuclear regulator has approved 20-year license renewals for its Clinton and Dresden clean energy centers.The U.S. power company will invest more than $370 million to relicense the nuclear plants to boost efficiency and ensure reli...Reuters
Tue, Dec 16
CORRECTED-EXCLUSIVE-Saudi firm Midad among frontrunners to buy Lukoil's global assets, sources say
Midad Energy offers all cash deal, money in escrow, sources sayUS Treasury has already rejected two other bidsMidad Energy competing with Exxon, Chevron, Carlyle, sources sayBy Jarrett Renshaw and Dmitry Zhdannikov Dec 16 (Reuters) - Saudi Arabia's Midad Energy has emerged as one of the leadi...Reuters
Tue, Dec 16
