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Drone strikes shut oilfields in Iraq's Kurdistan, cut output by up to 150,000 bpd
Drone attacks damage infrastructure, says regional governmentThe oilfield attacks cut output by up to 150,000 bpd Gulf Keystone Petroleum and DNO suspend operations at key fieldsNo casualties but material damage 'significant' - authoritiesBy Nayera Abdallah and Ahmed Rasheed BAGHDAD, Jul...Reuters
Wed, Jul 16
WTI retreats as OPEC+ supply rise outweighs EIA inventory draw
WTI Crude Oil is trading under pressure despite a larger-than-expected draw in US Crude inventories on Wednesday, as rising supply and demand concerns continue to limit the upside move. At the time of writing, WTI is trading at $65.14.
Fxstreet
Wed, Jul 16
US Cash Grains-Corn basis steady-firm at ethanol plants, soy crushers bids flat-lower
CHICAGO, July 16 (Reuters) - Spot basis bids for corn delivered to U.S. Midwest ethanol plants were mostly steady to higher on Wednesday and steady to lower at elevators and other processors, while soybean basis values were mixed at elevators and weak at several processing plants.Farmer sales of bot...Reuters
Wed, Jul 16
GRAINS-Soy futures jump on hopes for US export demand, corn extends rebound
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
W. Africa Crude-Traders await Angolan September loadings
LONDON, July 16 (Reuters) - West African crude oil differentials held steady on Wednesday as market participants continued to await an Angolan loading programme for September. * The Angolan loading schedules usually surface around the middle of the month. Less than five Angolan cargoes of the curren...Reuters
Wed, Jul 16
Reddit back up after outage affects over 100,000 users
July 16 (Reuters) - Social media platform Reddit RDDT.N said on Wednesday its services were restored, after a global outage affected more than 100,000 users according to reports on Downdetector.Reddit said on its status page the incident has been resolved after an investigation into elevated site er...Reuters
Wed, Jul 16
Oilfield run by US firm hit in drone attack in Iraqi Kurdistan, sources say
BAGHDAD, July 16 (Reuters) - A drone attack struck an oilfield operated by U.S. company Hunt Oil in the Iraqi Kurdish city of Dohuk on Wednesday, security sources said. It was the latest in a series of attacks on oilfields in the semi-autonomous Kurdistan region in recent days. It also marked the se...Reuters
Wed, Jul 16
CANADA RESEARCH ROUNDUP-Canadian Tire Corporation, Equinox Gold, Thomson Reuters
July 16 (Reuters) - Securities analysts revised their ratings and price targets on several Canadian companies including Canadian Tire Corporation, Equinox Gold and Thomson Reuters on Wednesday.HIGHLIGHTS * Atkinsréalis ATRL.TO: Stifel raises target price to C$113 from C$109* Bombardier BBDb.TO: JP ...Reuters
Wed, Jul 16
Europe Gasoline/Naphtha-Gasoline profit margins edge lower
LONDON, July 16 (Reuters) - Northwest European gasoline profit margins were down 41 cents on Wednesday to $14.31 a barrel on data showing weaker demand for the fuel.A total of 8,000 metric tons of Eurobob E5 gasoline barges traded, as BP sold to TotalEnergies and Gunvor.An additional 8,000 tons of E...Reuters
Wed, Jul 16
METALS-Copper sags as disruption worries subside and inventories rise
By Eric Onstad LONDON, July 16 (Reuters) - Copper prices slipped on Wednesday as supply disruption concerns eased and inventories continued their rise while the impact of U.S. tariffs remains uncertain. Benchmark three-month copper CMCU3 on the London Metal Exchange eased by 0.2% to $9,626 a metr...Reuters
Wed, Jul 16
Euronext wheat eases as euro bounce, French supply outlook weigh
PARIS, July 16 (Reuters) - European wheat futures edged down on Wednesday as support from a large import purchase by Algeria faded in the face of a rising euro and a projected jump in French wheat stocks.September wheat BL2U5 on Euronext was down 0.4% at 199.50 euros ($231.92) a metric ton by 1559 G...Reuters
Wed, Jul 16
Tonga opts to include drought as it increases PCRIC coverage
By Henry GaleJuly 16 - (The Insurer) - The government of Tonga has committed to renew its parametric catastrophe insurance policy with the Pacific Catastrophe Risk Insurance Company, increasing its premium contribution and adding coverage for drought risk, the regional risk pool said.Tonga's gov...Reuters
Wed, Jul 16
Carney says US deal that works for Canada isn't on table yet
July 16 (Reuters) - Canadian Prime Minister Mark Carney on Wednesday said working through issues related to softwood lumber is a top priority in ongoing trade negotiations with the U.S., but a deal that works for Canadian workers isn't yet on the table.Speaking to reporters in Hamilton, Carney p...Reuters
Wed, Jul 16
Ford recalls over 694,000 SUVs in US after year-long fuel leak probe
July 16 (Reuters) - Ford F.N is recalling 694,271 crossover SUVs in the United States due to a fuel leak issue that could increase the risk of a fire, the U.S. National Highway Traffic Safety Administration said on Wednesday, following a year-long investigation.The NHTSA said fuel injector in affect...Reuters
Wed, Jul 16
Reddit down for thousands of US users, Downdetector shows
July 16 (Reuters) - Social media platform Reddit RDDT.N was down for thousands of users in the U.S. on Wednesday, according to outage tracking website Downdetector.com.There were more than 32,691 incidents of people reporting issues with the platform as of 11:39 am ET, according to Downdetector, whi...Reuters
Wed, Jul 16
Canada announces new tariff measures on imported steel to protect domestic industry
By Divya RajagopalTORONTO, July 16 (Reuters) - Canadian Prime Minister Mark Carney on Wednesday said that Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry. Canada will also implement a...Reuters
Wed, Jul 16
Marsh names Beach to succeed Herring as UK CEO for energy and power
By Rebecca DelaneyJuly 16 - (The Insurer) - Marsh has named Will Beach as CEO of energy and power, UK at Marsh Specialty, succeeding Andrew Herring who is set to transition to the role of global chair at the beginning of next year.Beach currently leads Marsh's energy and power practice for the M...Reuters
Wed, Jul 16
Gulf Coast braces for flooding as storm system tracks west
July 16 - (The Insurer) – A weather system designated as Invest 93L is moving westward through Florida’s Panhandle after crossing the northern part of the state on Tuesday, bringing the risk of heavy rainfall and flash flooding to parts of the U.S. Gulf Coast.The National Hurricane Center has given ...Reuters
Wed, Jul 16
Venture Global signs 20-year contract to supply LNG to Italy's Eni
By Francesca Landini MILAN, July 16 (Reuters) - Venture Global VG.N will supply 2 million metric tons a year of liquefied natural gas to Italian state-controlled energy group Eni ENI.MI, the two companies said on Wednesday.The deal is Eni's first long-term contract for LNG coming from the Uni...Reuters
Wed, Jul 16
US withdrew oil from strategic reserve last week for first time since 2023, EIA shows
NEW YORK, July 16 (Reuters) - The United States withdrew oil from its Strategic Petroleum Reserve for the first time last week since December 2023, data from the Energy Information Administration showed on Wednesday.300,000 barrels of crude oil were taken out of the reserve last week, the data showe...Reuters
Wed, Jul 16
