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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
BREAKINGVIEWS-Reliance walks fine line on Russia-US energy
By Shritama Bose MUMBAI, July 16 (Reuters Breakingviews) - India's largest company might help to grease its trade deal with the world's biggest economy. U.S. President Donald Trump's threat to impose secondary sanctions on buyers of Russian exports within 50 days may look awkward for ...Reuters
Wed, Jul 16
Freeport Indonesia estimates copper concentrate output at 2.964 mln tons, exports at 1.45 mln tons in 2025
JAKARTA, July 16 (Reuters) - Freeport Indonesia's unit FCX.N estimated that its copper concentrate output would reach 2.964 million metric tons in 2025, with exports forecast at 1.45 million tons, according to company data presented at a parliamentary hearing on Wednesday. The estimated output w...Reuters
Wed, Jul 16
Apple in $500 million rare earth magnet deal with MP to expand US supply chain
July 15 (Reuters) - Apple AAPL.O has signed a $500 million deal with MP Materials MP.N for rare earth magnets, mitigating supply risks after China curbed exports this year and representing a major coup for MP that sent its shares soaring by a fifth.
Reuters
Wed, Jul 16
WTI trades with caution below $66.00 on persisting global trade uncertainty
West Texas Intermediate (WTI), futures on NYMEX, trades cautiously around $65.70 during the late Asian trading session on Wednesday. The Oil price oscillates close to near the weekly low as investors remain uncertain over the energy demand amid persistent global trade tensions.Fxstreet
Wed, Jul 16
GRAINS-Wheat inches higher after cut to Russian supply estimate
CANBERRA, July 16 (Reuters) - Chicago wheat futures rose on Wednesday after a Russian consultancy reduced its production estimate for the world's top exporter of the grain, but prices remain near five-year lows amid ample supply and sluggish demand. Corn futures climbed as the contract continued...Reuters
Wed, Jul 16
EU's 'green' fuel mandate costly and not helping environment, IATA says
By Jun Yuan Yong SINGAPORE, July 16 (Reuters) - The International Air Transport Association on Wednesday stepped up criticism of the European Union's sustainable aviation fuel mandate as a costly initiative that is not helping the environment as regional supplies there remain low. "The ...Reuters
Wed, Jul 16
TECHNICALS-CBOT soybeans may rise to $10.20-3/4
For more technical analyses, please click SINGAPORE, July 16 (Reuters) - The CBOT soybean November contract SX25 may break resistance at $10.12 per bushel, and rise to $10.20-3/4.The contract has stabilized around key support of $9.97-1/2, the 100% projection level of a wave C from $10.58-1/2. The s...Reuters
Wed, Jul 16
New plants, US trade worries to drive China's 2025 naphtha imports to record
China's 2025 naphtha imports to hit all-time high, analysts saysAsian margins to gain steam from Q3 onwardsChina naphtha demand to grow about 6% in 2025, 8.6% in 2026 -IEABy Mohi Narayan and Sam Li NEW DELHI/BEIJING, July 16 (Reuters) - China's naphtha imports will hit record levels this ...Reuters
Wed, Jul 16
RPT-Traders rush to land Brazilian coffee in the US before Trump's 50% tariff
Traders rush shipments to avoid 50% tariff before August 1U.S. coffee prices could rise further due to tariff hikeBrazilian coffee may shift to Europe, Asia; U.S. to source elsewhereBy Marcelo Teixeira and May Angel NEW YORK, July 15 (Reuters) - Commodities traders are racing against time to unlo...Reuters
Wed, Jul 16
CORRECTED-Rio Tinto's second-quarter iron ore shipments rise 13% sequentially
July 16 (Reuters) - Rio Tinto RIO.AX, RIO.L reported a 13% sequential rise in second-quarter iron ore shipments on Wednesday, rebounding from extreme weather-related disruptions earlier this year.The world's largest iron ore producer shipped 79.9 million metric tonnes (Mt) of the steel-making co...Reuters
Wed, Jul 16
GRAINS-Wheat inches higher on cut to Russian supply estimate
CANBERRA, July 16 (Reuters) - Chicago wheat futures rose on Wednesday after a Russian consultancy reduced its production estimate for the world's top exporter of the grain, but prices remain near five-year lows amid ample supply and sluggish demand. Corn futures climbed as the contract continued...Reuters
Wed, Jul 16
METALS-Copper prices little changed as markets await impact of US tariffs
By Hongmei Li SINGAPORE, July 16 (Reuters) - Copper prices on the London Metal Exchange and the Shanghai Futures Exchange moved little on Wednesday, as markets awaited the impact of U.S. President Donald Trump's trade tariffs, which are set to take effect on August 1.Three-month copper on the...Reuters
Wed, Jul 16
PRECIOUS-Gold nudges higher as focus turns to US tariff negotiations
July 16 (Reuters) - Gold prices edged higher on Wednesday, as investors digested economic data showing an increase in U.S. consumer prices last month and awaited further clarity on U.S. President Donald Trump's trade policy. FUNDAMENTALS* Spot gold XAU= was up 0.3% at $3,330.99 per ounce,...Reuters
Wed, Jul 16
Rio Tinto Q2 iron ore output rises as Trott gets set to take helm
Q2 iron ore shipments 79.9 million tons, up 13% from prior quarterQ2 Pilbara iron ore output strongest since 2018Sees FY25 copper guidance at the higher end of rangeBy Roshan Thomas and Melanie Burton July 16 (Reuters) - Rio Tinto RIO.AX reported its strongest second-quarter iron ore production s...Reuters
Wed, Jul 16
Oil prices gain on demand expectations amid improving economy
By Colleen Howe BEIJING, July 16 (Reuters) - Oil prices rose on Wednesday on expectations of steady demand in the U.S. and China, the world's two largest oil users, amid an improving economic outlook. Brent crude futures LCOc1 rose 29 cents, or 0.42%, to $69 a barrel by 0105 GMT. U.S. West Te...Reuters
Wed, Jul 16
WTI edges lower to below $66.00 as Trump's 50-day deadline for Russia eases supply concerns
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.70 during the early Asian trading hours on Wednesday. The WTI price edges lower amid easing concerns about supply disruption after US President Donald Trump gives a 50-day deadline for Russia to end the war in Ukraine.Fxstreet
Wed, Jul 16
