News
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Oil settles flat amid OPEC+ output hike, supply glut fears
OPEC+ to raise output by 137,000 bpd in NovemberOversupply outlook keeps prices in check US crude stocks rose, fuel inventories fell, according to API By Georgina McCartney HOUSTON, Oct 7 (Reuters) - Oil prices steadied on Tuesday as investors weighed a smaller-than-expected increase to OPEC+ out...Reuters
Tue, Oct 7
US Cash Crude-Grades fall as domestic crude stocks rise
Oct 7 (Reuters) - Domestic grades broadly fell on Tuesday, dealers said, after crude inventories rose. U.S. crude stocks rose while gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Tuesday. Crude stocks rose by 2.78 million barre...Reuters
Tue, Oct 7
UK man pleads guilty in New York to $99 million wine fraud
James Wellesley admitted to wire fraud conspiracyBritish co-defendant Stephen Burton also pleaded guiltyWine claimed to be in inventory allegedly didn't existBy Jonathan Stempel NEW YORK, Oct 7 (Reuters) - A British man pleaded guilty on Tuesday in New York to involvement in a nearly $100 mil...Reuters
Tue, Oct 7
Peru minister touts Saudi mining interest and Chevron offshore potential
SANTIAGO, Oct 7 (Reuters) - Peru's Minister of Energy and Mines Jorge Luis Montero said on Tuesday he expects the country to sign a Memorandum of Understanding (MOU) with Saudi Arabia in November to develop lithium, copper and other strategic mineral projects in the Andean nation.In an intervie...Reuters
Tue, Oct 7
Air traffic control staffing hitting US flights for second straight day
Oct 7 (Reuters) - Air traffic control staffing issues are impacting flights for a second straight day at numerous U.S. airports as the partial government shutdown reaches its seventh day, the Federal Aviation Administration said in a notice on Tuesday.The FAA said landings were being delayed in Nash...Reuters
Tue, Oct 7
ANALYSIS-Private credit cash pivots from 'risky' West to emerging markets
Private credit, seeking yields, shifts to emerging markets Bespoke financing and repayment terms lure borrowersConcerns over impact on bond markets and sovereign debtBy Libby George and Rodrigo Campos LONDON/NEW YORK, Oct 7 (Reuters) - An intricate series of pipes off Angola's Atlantic coast ...Reuters
Tue, Oct 7
ICE canola futures gain again in vegoils updraft
WINNIPEG, Manitoba, Oct 7 (Reuters) - ICE canola futures gained more ground on Tuesday, as a rising tide of vegoils pulled prices higher.• November canola RSX5 settled up $7.50 at $615 per metric ton. January RSF6 rose $7.70 to $628.10. • Most of Canada's canola harvest is finished, with farmers...Reuters
Tue, Oct 7
GRAINS-Soybeans tick up as market weighs crops, U.S.-China ties
By Karl Plume CHICAGO, Oct 7 (Reuters) - U.S. soybean futures firmed on Tuesday on technical and seasonal buying after two sessions of losses, as traders monitored U.S. harvesting, Brazilian planting progress and updates on trade negotiations with China and a U.S. farmer bailout package.Corn ease...Reuters
Tue, Oct 7
Gold nears $4,000 as shutdown fears, interest rate cuts ignite rally
Gold price rallied during the North American session and reached a record high of $3,991, before settling closer to $3,982 for a 0.60% gain. Uncertainty about the US government shutdown and expectations of lower interest rates the Federal Reserve (Fed) keep the yellow metal bid.
Fxstreet
Tue, Oct 7
US natgas jumps 4% to 11-week high on daily output drop, short covering
Pipeline constraints keep Waha Hub prices negativeTropical Storm Jerry not expected to hit U.S. East CoastLower 48 states see drop in gas output, LSEG reportsBy Scott DiSavino Oct 7 (Reuters) - U.S. natural gas futures jumped about 4% to an 11-week high on Tuesday on a drop in daily output an...Reuters
Tue, Oct 7
CBOT wheat ends lower on technical selling, big global supplies
CHICAGO, Oct 7 (Reuters) - Chicago Board of Trade wheat futures fell for a second straight day on Tuesday on technical selling and pressure from abundant global supplies.CBOT December soft red winter wheat WZ25 settled 6 cents lower at $5.06-3/4 per bushel after failing to break through overhead tec...Reuters
Tue, Oct 7
CBOT soybeans end firm on technical buying, trade aid hopes
CHICAGO, Oct 7 (Reuters) - Chicago Board of Trade soybean futures firmed on Tuesday in a rebound from two sessions of losses, supported by technical and seasonal buying as traders awaited news about trade negotiations with China and a U.S. farmer bailout package, analysts said.CBOT November soybeans...Reuters
Tue, Oct 7
CBOT corn sinks on harvest pressure, technical selling
CHICAGO, Oct 7 (Reuters) - Chicago Board of Trade corn futures eased on Tuesday on technical selling and supply pressure from the ongoing harvest of a likely record-large U.S. crop, analysts said.Losses were limited by expectations that U.S. corn yields would fall short of the latest U.S. Department...Reuters
Tue, Oct 7
SOFTS-London cocoa hits 1-1/2 year low, coffee also down
NEW YORK, Oct 7 (Reuters) - London cocoa futures on ICE hit their lowest in more than 1-1/2 years on Tuesday, with supplies boosted by newly harvested crops from West Africa, while demand remained weak. COCOA * London cocoa LCCc2 settled down 95 pounds, or 2.2%, at 4,308 pounds ...Reuters
Tue, Oct 7
US may revoke $1.1 billion in auto plant funding for Stellantis, GM
WASHINGTON, Oct 7 (Reuters) - The U.S. Energy Department is considering revoking nearly $1.1 billion awarded in retooling grants to Chrysler-parent Stellantis STLAM.MI and General Motors GM.N last year by the administration of President Joe Biden, according to a document seen by Reuters.The projects...Reuters
Tue, Oct 7
US port fees, and $3 billion in costs, loom for owners of Chinese-built ships
USTR port fees on China-built, owned and operated ships to start October 14Top 10 cargo carriers face $3.2 billion in port fees in 2026Beijing responded with decree pledging countermeasures against any discriminatory measures on Chinese shipsBy Lisa Baertlein LOS ANGELES, Oct 7 (Reuters) - The U....Reuters
Tue, Oct 7
PRECIOUS-US gold futures top $4,000 mark as record run gathers pace
US gold futures breached the $4,000 level US government shutdown entered its seventh dayChina's central bank extends gold buying for 11th monthBy Anushree Mukherjee Oct 7 (Reuters) - U.S. gold futures surged past the $4,000 per ounce milestone for the first time on Tuesday, driven by expectat...Reuters
Tue, Oct 7
RPT-IAEA discussing proposals with Russia, Ukraine to restore power to Zaporizhzhia plant, Grossi says (Oct. 3)
Oct 3 (Reuters) - International Atomic Energy Agency Director General Rafael Grossi said on Friday he is discussing detailed proposals with Russia and Ukraine on how to restore off-site power to the Zaporizhzhia Nuclear Power Plant.The plant, Europe's largest, has been cut off from external powe...Reuters
Tue, Oct 7
Trump considering cancelling additional $12 billion of funding for clean energy projects, Semafor reports
Oct 7 (Reuters) - The U.S. government is considering cancelling an additional $12 billion in funding for clean energy projects beyond the cuts announced last week, Semafor reported on Tuesday.Reuters was not able to verify the report.Reuters
Tue, Oct 7
