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FOCUS-How Canada's oil sands transformed into one of North America's lowest-cost plays
Canadian oil sands benefit from geology, technology, and cost-cutting measuresCanadian oil sands have lower break-even prices than U.S. shale producersTechnological advances improve efficiency and reduce costs in oil sands operationsBy Amanda Stephenson CALGARY, July 16 (Reuters) - Giant shovels,...Reuters
Wed, Jul 16
FOCUS-Why crypto giant Tether bought a South American farming company
Tether looking to boost use of its stablecoin in commodities trading'Tokenization' of agricultural commodities like sugar or corn a potential optionCompany to use biomass-generated electricity to power bitcoin miningBy Marcelo Teixeira NEW YORK, July 16 (Reuters) - Crypto powerhouse Tethe...Reuters
Wed, Jul 16
US grid operator PJM issues maximum generation alert for July 16
July 16 (Reuters) - PJM Interconnection has issued a "maximum generation alert" and a "load management alert" for July 16 to ensure the reliable delivery of electricity for customers across 13 states and the District of Columbia, it said on Tuesday.The alerts serve as a procedural st...Reuters
Wed, Jul 16
Oil: OPEC output rises – ING
The oil market continued to edge lower yesterday, with a stronger US dollar providing some headwinds. In addition, no immediate action from the US against Russia following President Trump’s 'major statement' means that the focus returns to the expected oil surplus later in the year.Fxstreet
Wed, Jul 16
REFILE-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, Ella Cao CANBE...Reuters
Wed, Jul 16
Japan's Kawasaki Kisen prepared to reroute more ships away from US over tariffs, CEO says
By Kentaro OkasakaTOKYO, July 16 (Reuters) - Japanese shipper Kawasaki Kisen (K-Line) 9107.T is adjusting its U.S. services and is prepared to reroute more ships away to other regions as it braces for potentially higher U.S. tariffs, CEO Takenori Igarashi said on Wednesday."There have been times...Reuters
Wed, Jul 16
Trump's tariffs put 100,000 jobs at risk in South Africa, central bank chief says
JOHANNESBURG, July 16 (Reuters) - U.S. President Donald Trump's tariffs on South Africa could cause around 100,000 job losses, with the agriculture and automotive sectors hardest-hit, central bank governor Lesetja Kganyago said on Wednesday.Kganyago told local radio station 702 that the impact o...Reuters
Wed, Jul 16
EUROPE GAS-Prices rise on Norwegian unplanned outage
LONDON, July 16 (Reuters) - Dutch and British wholesale gas prices were mostly up on Wednesday morning due to an unplanned outage at Norway's Nyhamna gas processing plant.The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 was up by 0.45 euro at 34.92 euros per megawatt hour (MWh)...Reuters
Wed, Jul 16
China willing to cooperate with Pakistan in agriculture and mining, minister says
BEIJING, July 16 (Reuters) - China's foreign minister said on Wednesday that China was willing to deepen cooperation with Pakistan in agriculture, industry and mining, as he met with his Pakistani counterpart in Tianjin, according to a Chinese statement. China "supports Pakistan in carrying ...Reuters
Wed, Jul 16
Australian AI startup granted AUKUS exemption for autonomous vessel software
By Kirsty Needham SYDNEY, July 16 (Reuters) - An Australian AI startup developing software for crewless boats said it has been granted one of the first AUKUS exemption licences by the Australian government, allowing it to share information with defence contractors in the U.S. and Britain.Defence ...Reuters
Wed, Jul 16
METALS-Copper prices little changed as traders weigh US CPI, tariff imapct
By Hongmei Li SINGAPORE, July 16 (Reuters) - Copper prices in London and Shanghai were largely unchanged on Wednesday as traders assessed a mix of macro signals, including U.S. inflation data and new tariff announcements, while assessing China's first-half economic data.Three-month copper on ...Reuters
Wed, Jul 16
TABLE-UAE's Fujairah oil inventory data for week ended July 14
July 16 (Reuters) - The Fujairah Oil Industry Zone published the following inventory data for oil products for the week ended July 14, according to industry information service S&P Global Commodity Insights.Volumes are in thousands of barrels. Figures in brackets represent the volume change from...Reuters
Wed, Jul 16
Abu Dhabi's ADNOC plans to transfer 24.9% stake in OMV to XRG unit
DUBAI, July 16 (Reuters) - Abu Dhabi National Oil Company said on Wednesday it plans to transfer its 24.9% shareholding in Austria's OMV AG OMVV.VI to its XRG investment unit ahead of the establishment of a chemicals company combining existing OMV and ADNOC firms. ADNOC last year bought a 24.9% ...Reuters
Wed, Jul 16
PRESS DIGEST - Wall Street Journal - July 16
July 16 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.- Apple AAPL.O has signed a $500 million deal with Pentagon-backed MP Materials MP.N to supply rare earth magnets, becoming one of the first ...Reuters
Wed, Jul 16
PRECIOUS-Gold prices rebound as US dollar, Treasury yields retreat
US PPI data due at 1230 GMTUS consumer prices rise in JuneDollar slips from one-month highBy Brijesh Patel July 16 (Reuters) - Gold rose on Wednesday, supported by a pullback in the U.S. dollar and bond yields, while investors digested data showing an increase in U.S. consumer prices last month a...Reuters
Wed, Jul 16
India's GAIL in initial talks for long-term LNG deal with Alaska LNG, sources say
By Nidhi Verma NEW DELHI, July 16 (Reuters) - India's state-run GAIL GAIL.NS is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said.The talks with dev...Reuters
Wed, Jul 16
Exclusive: Axis makes Aon sole broker on marine excess-of-loss program
Aon becomes sole broker for Axis marine XoL programSwiss Re-led program renews at January 1Axis marine account among largest programs in the marketBy Michael JonesJuly 16 - (The Insurer) - Axis has appointed Aon as the sole broker on its marine composite excess-of-loss (XoL) program with Guy Carpent...Reuters
Wed, Jul 16
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $65.64 per barrel, down from Tuesday’s close at $65.66.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $68.24 after its previous daily close at $68.30.
Fxstreet
Wed, Jul 16
