News
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European Commission proposes Russian oil price cap 15% below global price
BRUSSELS, July 11 (Reuters) - The European Commission proposed on Friday a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats said. The European Union and Britain have been pushing the Group of Seven nations to lower the cap fo...Reuters
Fri, Jul 11
Oil rises over 2% as investors weigh market outlook, tariffs, sanctions
Brent and WTI rise over 2% after losses in previous sessionBaker Hughes reports 11th consecutive week of U.S. rig count declineTrump promises major statement on Russia on MondaySaudi Arabia complies with OPEC+ output targets, energy ministry confirmsBy Stephanie Kelly NEW YORK, July 11 (Reuters) ...Reuters
Fri, Jul 11
CBOT wheat ends down as US harvests advance, Minneapolis wheat falls
CHICAGO, July 11 (Reuters) - Chicago Board of Trade wheat futures finished lower on Friday as advancing U.S. harvests expanded to supplies, while a bigger-than-expected spring-wheat production forecast knocked down Minneapolis wheat futures, analysts said.The U.S. Department of Agriculture is slated...Reuters
Fri, Jul 11
CBOT soybeans end weaker on favorable US weather, soyoil rises
CHICAGO, July 11 (Reuters) - Chicago Board of Trade soybean futures fell on Friday as forecasts for favorable weather raised expectations for a large autumn harvest, analysts said.A monthly U.S. Department of Agriculture report trimmed the outlook for the nation's soybean harvest to 4.335 billio...Reuters
Fri, Jul 11
PRECIOUS-Gold climbs over 1% on safe-haven bids as Trump imposes fresh tariffs
Trump puts 35% tariffs on Canada, eyes 15%-20% tariffs for othersUncertainty premium is back in the market, analyst saysPalladium up over 6% By Anushree Mukherjee July 11 (Reuters) - Gold prices rose more than 1% on Friday as investors sought safe-haven assets following U.S. President Donald ...Reuters
Fri, Jul 11
Peru central bank holds growth forecasts steady as Trump readies copper tariffs
Forecast in line with bank's 2025 growth estimateCentral bank sees 2026 growth moderation, tariff risksUS' 50% copper tariff could push up prices, economist saysMexican avocados gain edge over Peru's thanks to US tariff exemptionBy Sarah Morland and Marco Aquino LIMA, July 11 (Reuters...Reuters
Fri, Jul 11
US natgas prices ease as less hot forecasts offset rising LNG export flows
Hottest weather of summer coming next weekRecord output allows energy firms to grow storage surplusStockpiles at 6% over normal levelsBy Scott DiSavinoJuly 11 (Reuters) - U.S. natural gas futures eased on Friday as forecasts for less hot weather and lower demand next week than previously expected of...Reuters
Fri, Jul 11
CBOT corn sets contract lows as US weather benefits crop development
CHICAGO, July 11 (Reuters) - Chicago Board of Trade corn futures dropped to contract lows on Friday under pressure from beneficial U.S. crop weather that was stoking expectations for a large harvest, analysts said.U.S. farmers were expected to reap bumper corn and soy crops this season as both are d...Reuters
Fri, Jul 11
US port operators seek to mitigate hefty expected tariffs on China-built port cranes
Trump administration signals it wants to stop purchases of China-made port cranesIndustry group executive sees 100% tariffs as "the floor"Trump tariff push comes after Biden imposed 25% levies on China cranesBy Lisa BaertleinLOS ANGELES, July 11 (Reuters) - U.S. seaport operators are asking...Reuters
Fri, Jul 11
Trump's copper tariffs pile more metal misery on US auto industry
Planned copper tariff seen raising costs for US auto industryCarmakers may pass import tax costs to consumersUS metals prices have soared; US heavily reliant on importsCopper tariff could be short-lived due to inflation concerns, some analysts sayBy Nick Carey and Nora Eckert LONDON/DETROIT, July...Reuters
Fri, Jul 11
Chevron says Mars crude quality changes associated with start-up of a new well
HOUSTON, July 11 (Reuters) - Chevron CVX.N on Friday said changes to the composition of Mars offshore crude oil were associated with the start-up of a new offshore well. The oil major said it was working to resolve issues and it does not expect an impact to current production guidance.Reuters
Fri, Jul 11
Braskem: Aware Of Media Reports About Proposed Lawsuit Related To Alagoas Case
July 11 (Reuters) - BRASKEM BRKM5.SA:IT IS AWARE OF MEDIA REPORTS ABOUT A PROPOSED LAWSUIT SEEKING 4 BILLION REAIS IN COMPENSATION RELATED TO ALAGOAS CASE - STATEMENTIT HAS NOT BEEN SUBPOENAED - STATEMENTReuters
Fri, Jul 11
GRAINS-Corn sets contract lows on expectations for big US crop
Traders focus on favorable US crop weatherUSDA report keeps corn, soy yield estimates steadyUS soy carryout tops average estimate for 2025-26By Tom Polansek CHICAGO, July 11 (Reuters) - Chicago Board of Trade corn futures set contract lows and soybean futures sagged on Friday on expectations that...Reuters
Fri, Jul 11
US oil/gas rig count down for 11th week to lowest since 2021, Baker Hughes says
By Scott DiSavino July 11 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since July 2020 when the COVID-19 pandemic cut demand for the fuel, energy services firm Baker Hughes BKR.O said in its closely follo...Reuters
Fri, Jul 11
Venezuela's PDVSA oil sales abroad hit $17.5 billion in 2024 as exports jump
July 11 (Reuters) - Venezuelan state-run PDVSA's oil sales abroad in 2024 stood at $17.52 billion, according to a results document seen by Reuters on Friday, as exports jumped due to U.S. licenses allowing foreign partners to operate in the sanctioned OPEC member. There are no comparative...Reuters
Fri, Jul 11
Taiwan's CPC Corp eyes US shale gas assets, sources say
Potential deal could boost Taiwan's political leverage with USLooks to tap into US LNG expansionCPC explored possible bids for private equity-backed assets, sources sayThese include Haynesville shale field By Georgina McCartney and Shariq Khan HOUSTON, July 11 (Reuters) - Taiwan's sta...Reuters
Fri, Jul 11
US oil/gas rig count down for 11th week to lowest since 2021, Baker Hughes says
By Scott DiSavino July 11 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since July 2020 when the COVID-19 pandemic cut demand for the fuel, energy services firm Baker Hughes BKR.O said in its closely follo...Reuters
Fri, Jul 11
Saudi Arabia complying fully with voluntary OPEC+ target, energy ministry says
July 11 (Reuters) - Saudi Arabia's energy ministry said on Friday the kingdom had been fully compliant with its voluntary OPEC+ output target, adding that Saudi marketed crude supply in June was 9.352 million barrels per day, in line with the agreed quota.The statement follows a report this mont...Reuters
Fri, Jul 11
