News
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OPEC says JMMC does not hold decision-making authority over production levels
July 25 (Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) said on Friday that the joint ministerial monitoring committee(JMMC), scheduled to convene on Monday, does not hold decision-making authority over production levels.OPEC added that claims linking the JMMC meeting to oil...Reuters
Fri, Jul 25
Phillips 66 to operate refineries in low to mid 90% range in Q3 2025
NEW YORK, July 25 (Reuters) - U.S. crude oil refiner Phillips 66 PSX.N plans to operate its refineries in the low to mid-90% range of combined capacity of 1.5 million barrels per day in the third quarter, Chief Financial Officer Kevin Mitchell said on Friday during a conference call with analysts.Th...Reuters
Fri, Jul 25
US drillers cut oil and gas rigs for 12th time in 13 weeks, Baker Hughes says
By Scott DiSavino July 24 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the 12th time in 13 weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future outpu...Reuters
Fri, Jul 25
Venezuela oil company PDVSA readies return to work under previous US terms
Company expects US to authorize full return to previous mechanismIf partners are allowed to contribute to payments, swaps, Venezuela would secure source of revenueCountry has stabilized oil output at around 1 million bpdBy Marianna Parraga July 25 (Reuters) - Venezuela's state-run oil company...Reuters
Fri, Jul 25
Europe Gasoline/Naphtha-Gasoline profit margins edge up
LONDON, July 25 (Reuters) - Northwest European gasoline profit margins rose by about 9 cents to $13.57 a barrel on Friday.A total of 6,000 metric tons of Eurobob E5 gasoline barges traded, with Trafigura and BP selling to TotalEnergies, Varo and Aramco.An additional 10,000 tons of Eurobob E10 barges...Reuters
Fri, Jul 25
US drillers cut oil and gas rigs for 12th time in 13 weeks, Baker Hughes says
By Scott DiSavino July 24 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the 12th time in 13 weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future outpu...Reuters
Fri, Jul 25
EU wheat ends week lower as supply pressure continues
PARIS, July 25 (Reuters) - European wheat prices shed more than 3% this week, pressured by abundant global supplies as traders awaited clearer assessments of potential damage from recent rainfall on the quality of German crops.Benchmark September milling wheat BL2U5 on Paris-based Euronext, closed 0...Reuters
Fri, Jul 25
GRAINS-Chicago wheat futures dip on global supply pressure; corn, soybeans fall
Corn futures slide on beneficial weather forecast, large US harvest expectationsSoybeans slip on slower-than-hoped U.S. export salesEU-US trade talks may end uncertainty for European industryBy P.J. Huffstutter CHICAGO, July 25 (Reuters) - Chicago Board of Trade wheat futures fell on Friday, and ...Reuters
Fri, Jul 25
EU, US could reach framework trade deal this weekend, EU officials say
By Julia Payne and Jan Strupczewski BRUSSELS, July 25 (Reuters) - European Commission President Ursula von der Leyen will meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework trade deal this weekend. The deal would likely ...Reuters
Fri, Jul 25
NRC approves Holtec's request to restart Michigan nuclear plant
July 25 (Reuters) - The U.S. Nuclear Regulatory Commission (NRC) has approved a series of requests from Holtec International that lay the groundwork to restart the Palisades nuclear power plant in Michigan, the agency and company said on Thursday. The approvals will allow Holtec to load fuel, but th...Reuters
Fri, Jul 25
US Cash Grains-Corn, soy basis bids mostly steady to weaker
CHICAGO, July 25 (Reuters) - Basis bids for corn and soybeans were mostly steady to weaker in the U.S. Midwest on Friday, softening at a few soy crushing and corn ethanol plants, spot checks showed. The soybean basis fell by 5 cents a bushel at a crusher in Lafayette, Indiana, but bean bids held ste...Reuters
Fri, Jul 25
Three workers rescued after being trapped at Newmont's Red Chris mine in Canada
By Divya Rajagopal and Surbhi MisraJuly 25 (Reuters) - Three contract workers at Newmont's Red Chris copper and gold mine in British Columbia were rescued after being trapped underground for 60 hours, the company said on Friday.Some operations at the mine have resumed but the underground mine re...Reuters
Fri, Jul 25
METALS-Copper under pressure as demand falters ahead of crucial week
By Polina Devitt LONDON, July 25 (Reuters) - Copper prices fell on Friday as the dollar rose and physical buyers paused ahead of a week that could prove pivotal if it brings more clarity about the U.S. copper import tariff and U.S. trade agreements with other countries. Three-month copper on t...Reuters
Fri, Jul 25
Citigroup's head of energy transition decamps for Moelis role, sources say
By Isla Binnie and Svea Herbst-Bayliss NEW YORK, July 25 (Reuters) - Citigroup's C.N global head of clean energy transition investment banking is leaving the U.S. lender for a role advising on mergers and acquisitions at boutique bank Moelis MC.N, people familiar with the matter said on Frida...Reuters
Fri, Jul 25
Gold Suffers Rare Three-Day Loss — Are Tariffs Becoming a Reality?
TradingKey - As political tensions within the U.S. ease and global uncertainties begin to settle, gold prices have tumbled in a rare three-day losing streak. At the time of writing, gold has fallen to $3,334 per ounce.
TradingKey
Fri, Jul 25
EU, US could reach framework trade deal this weekend - EU officials
BRUSSELS, July 25 (Reuters) - The European Union and the United States could reach a framework deal on trade this weekend, ending months of uncertainty for European industry, EU officials and diplomats said on Friday.The deal would likely include a 15% baseline tariff on all EU goods entering the Un...Reuters
Fri, Jul 25
US natgas prices steady as near-record output offsets near-record heat
Hottest days of summer coming early next weekGas stockpiles seen at 7% above normal and growingGas output on track for monthly record high in JulyBy Scott DiSavinoJuly 25 (Reuters) - U.S. natural gas futures held steady on Friday as near-record output and lagging flows to liquefied natural gas expor...Reuters
Fri, Jul 25
Beacon Offshore Energy begins oil and gas production at US offshore Shenandoah field
HOUSTON, July 25 (Reuters) - Beacon Offshore Energy LLC said it began oil and natural gas production at its Shenandoah field off the coast of Louisiana on Friday, nearly a month after it was originally expected to commence.Beacon, which in May said it expects first oil in June, expects to ramp up th...Reuters
Fri, Jul 25
SOFTS-Robusta coffee slips back towards recent 16-month low
LONDON, July 25 (Reuters) - Robusta coffee futures on ICE fell on Friday, slipping back towards a 16-month low set earlier this week, with supplies boosted by newly-harvested crops in Brazil and Indonesia.COFFEE* Robusta coffee LRCc2 was down 2.6% to $3,262 a metric ton at 1332 GMT, after setting a ...Reuters
Fri, Jul 25
