News
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Oil rises as demand hopes and economic data lift sentiment
By Anjana Anil July 17 (Reuters) - Oil prices rose in early trade on Thursday, reversing the previous session's losses, buoyed by stronger-than-expected economic data from the world’s top oil consumers and signs of easing trade tensions.Brent crude futures LCOc1 rose 27 cents, or 0.39%, to $6...Reuters
Thu, Jul 17
Trump says he is ending government funding California's High-Speed Rail project
WASHINGTON, July 16 (Reuters) - U.S. President Donald Trump announced on Wednesday that he is ending government funding for California's High-Speed Rail project.The announcement follows the release of a U.S. Transportation Department report from the Federal Railroad Administration that cited mis...Reuters
Wed, Jul 16
US Commodity Futures Trading Commission begins firing staff, agency source says
July 16 (Reuters) - The U.S. Commodity Futures Trading Commission on Wednesday began staff firings that are expected to affect about two dozen people, according to an agency source, after the Supreme Court last week cleared the way for mass government firings.About two dozen staff from the CFTC'...Reuters
Wed, Jul 16
US condemns drone attacks on oilfields in Iraqi Kurdistan
WASHINGTON, July 16 (Reuters) - The U.S. State Department on Wednesday condemned recent drone attacks targeting oil fields in the Iraqi Kurdistan region.Security sources told Reuters earlier in the day that an oilfield operated by U.S. company Hunt Oil became the latest site in a series of attacks i...Reuters
Wed, Jul 16
Trump says India trade agreement is close, Europe deal possible
WASHINGTON, July 16 (Reuters) - U.S. President Donald Trump said in an interview broadcast on Real America's Voice on Wednesday that his administration was very close to a trade deal with India and an agreement could possibly be reached with Europe, but added that it was too soon to describe the...Reuters
Wed, Jul 16
CIF/FOB Gulf Grain-Soybean, corn barge bids tick higher
CHICAGO, July 16 (Reuters) - Basis bids for soybeans and corn delivered by barge to U.S. Gulf Coast terminals firmed on Wednesday, reflecting exporter needs and thinning grain movement into the Gulf due to competing demand from domestic processors, traders said.Rising freight costs further supported...Reuters
Wed, Jul 16
US Cash Products-New York Harbor diesel rises on refinery outage
NEW YORK, July 16 (Reuters) - Cash differentials for diesel rose in the New York Harbor spot market on Wednesday due to a partial outage at the Phillips 66 Bayway refinery in Linden, New Jersey, traders said.The 258,500-barrel-per-day refinery was partially shut after rainstorms in the region caused...Reuters
Wed, Jul 16
Exxon restarts purchases of Mars crude after brief pause over zinc issues, sources say
HOUSTON, July 16 (Reuters) - Oil major Exxon Mobil XOM.N bought Mars crude for August delivery, two sources said on Wednesday, after briefly halting purchases of the flagship offshore grade due to a zinc contamination issue. The zinc contamination in the Mars crude oil stream had pushed Exxon to bo...Reuters
Wed, Jul 16
Kinder Morgan quarterly profit jumps on strong natgas demand
By Vallari SrivastavaJuly 16 (Reuters) - Kinder Morgan KMI.N posted a 24% rise in second-quarter profit on Wednesday, as higher volumes of natural gas were transported through its pipelines and demand for the company's infrastructure rose.Pipeline operators such as Kinder Morgan are benefiting ...Reuters
Wed, Jul 16
RPT-EXCLUSIVE-Australia nears breakthrough canola deal with China, sources say
Australia nears deal with China to ship five trial canola cargoesShipments will total 150,000-250,000 tons, industry sources sayPhytosanitary rules have restricted Australia's canola exports to ChinaAustralian canola prices may rise with increased Chinese demandBy Peter Hobson and Ella Cao CA...Reuters
Wed, Jul 16
CANADA-CRUDE-Discount on Western Canada Select widens again
July 16 (Reuters) - The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures CLc1 settled Wednesday at its widest since March.WCS for August delivery in Hardisty, Alberta, settled at $10.95 a barrel under the U.S. benchmark WTI, according to brokerage Cal...Reuters
Wed, Jul 16
LIVESTOCK-CME live cattle set contract highs, supported by cash prices
By Tom Polansek CHICAGO, July 16 (Reuters) - Chicago Mercantile Exchange live cattle futures climbed to contract highs on Wednesday as some traders predicted that cash prices will continue to rise after surging last week.Futures and cash prices have set records this year as meatpackers increasing...Reuters
Wed, Jul 16
COLUMN-Chicago corn and soybeans sink to effective 19-year lows: Braun
By Karen Braun NAPERVILLE, Illinois, July 16 (Reuters) - Chicago corn futures hit contract lows yet again this week and soybeans have been flirting with single-digit prices as ample U.S. harvests are on the docket.December corn still hovers just above last year’s levels and November soybeans are ...Reuters
Wed, Jul 16
Canada announces steel tariffs on some trade partners to protect domestic industry
Carney introduces new steel tariffs on trade partners to protect the domestic steel industryCanada introduces C$1 billion fund for steel industry projectsDomestic steel prioritized in government procurement, Carney says By Divya Rajagopal TORONTO, July 16 (Reuters) - Prime Minister Mark Carney on...Reuters
Wed, Jul 16
US Cash Crude-Grades mixed as domestic crude stocks fall, fuels rise
July 16 (Reuters) - Grades were mixed on Wednesday, dealers said, and investors digested official U.S. oil stock data, which showed a drop in crude inventories and rise in fuel stocks last week. Crude stockpiles fell by 3.9 million barrels to 422.2 million barrels in the week ended July 11, the Ener...Reuters
Wed, Jul 16
Phillips 66's Bayway refinery partially shut after power outage, sources say
NEW YORK, July 16 (Reuters) - Phillips 66 PSX.N has partially shut its 258,500 barrel-per-day Bayway refinery in Linden, New Jersey, after rainstorms in the region caused a power outage at the plant, three sources familiar with the matter said.Phillips 66 confirmed the power outage, but declined to ...Reuters
Wed, Jul 16
US Cash Grains-Corn processor, wheat miller basis bids steady-lower
CHICAGO, July 16 (Reuters) - Spot basis bids for corn were flat to lower at U.S. Midwest processing plants on Wednesday while bids at wheat processors were unchanged to down slightly.Farmer selling remained minimal on Wednesday as futures prices remain near recent lows. Growers are reluctant to lock...Reuters
Wed, Jul 16
Pipeline operator Kinder Morgan posts higher second-quarter profit
July 16 (Reuters) - U.S. pipeline and terminal operator Kinder Morgan KMI.N posted a rise in second-quarter profit on Wednesday, helped by higher volumes of natural gas transported through its pipelines.The Houston, Texas-based company said its net income came in at $715 million for the three months...Reuters
Wed, Jul 16
GRAINS-Soybean futures jump on hopes for US export demand
Exporters sell US soy to unknown buyers, USDA saysUS strikes trade deal with soy-importer IndonesiaUS weather looks favorable for crops, forecaster saysBy Tom Polansek CHICAGO, July 16 (Reuters) - Chicago Board of Trade soybean futures jumped on hopes for U.S. export demand on Wednesday, while co...Reuters
Wed, Jul 16
US transfers acreage near proposed mining road to Alaska native group
July 16 (Reuters) - The Trump administration transferred 28,000 acres (11,331 hectares) in a remote part of Northwest Alaska to a native corporation, putting more land near a proposed mining road under local control.The move is aligned with President Donald Trump's pledge to remove barriers to e...Reuters
Wed, Jul 16
