News
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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
EU wheat edges back from 2-week top after USDA report
PARIS, July 11 (Reuters) - Euronext wheat closed slightly lower on Friday as widely followed U.S. government crop forecasts threw up few surprises, encouraging prices to consolidate after a two-week high fuelled by export delays in Russia.September wheat BL2U5 on Euronext settled 0.1% down at 201.00...Reuters
Fri, Jul 11
ANALYSIS-Freeport-McMoRan poised to gain from Trump's copper tariff against peers with few options
Freeport controls 60% of US copper output, poised for $1.6-billion profit boostUS imports half its copper, mostly from Chile, Canada, and PeruMines take nearly 29 years to build in the US, second-longest globallyBy Ernest Scheyder July 11 (Reuters) - Freeport-McMoRan FCX.N could see a $1.6-billio...Reuters
Fri, Jul 11
EXCLUSIVE-Miners MMG, Hudbay warn Peru production at risk amid wildcat protests, sources say
Protests by informal miners block key transit route MMG and Hudbay copper mines face potential production impact Peru's government maintains deadline to end informal mining programPeru, world's third-biggest copper producer, exports mostly to ChinaBy Marco Aquino LIMA, July 11 (Reu...Reuters
Fri, Jul 11
Europe Gasoline/Naphtha-Gasoline profit margins dip
LONDON, July 11 (Reuters) - Northwest European gasoline profit margins fell by over $2 on Friday to $13.32. A total of 8,000 tons on Eurobob E5 barges traded, with Trafigura and BP selling to TotalEnergies and Aramco.The Interfax news agency quoted Russia's Deputy Prime Minister Alexander Novak ...Reuters
Fri, Jul 11
Trump's tariff collections expected to grow in June US budget data
Forecasters expect $20 billion to $25 billion in customs receipts in JuneTreasury chief says US tariff revenue could reach $300 billion in 2025US Treasury to release June budget data at 2 p.m. EDT (1800 GMT) By David Lawder WASHINGTON, July 11 (Reuters) - The U.S. Treasury Department on Friday wi...Reuters
Fri, Jul 11
Colorado Interstate Gas Co Declares Force Majeure At Segment 154, Line 70B, Muddy Gap Pipeline
July 11 (Reuters) - KINDER MORGAN'S KMI.N COLORADO INTERSTATE GAS COMPANY, L.L.C (CIG):DECLARES FORCE MAJEURE AT SEGMENT 154, LINE 70B- 16” RAWLINS– MUDDY GAP PIPELINESAYS NECESSARY RESOURCES WILL BE AVAILABLE FOR THE REPAIRS ON JULY 15, 2025SAYS REPAIRS WILL REQUIRE THE PIPELINE FROM RAWLINS ST...Reuters
Fri, Jul 11
CORRECTED-US OKs exchange with Exxon Mobil to aid Gulf Coast supplies
WASHINGTON, July 11 (Reuters) - The U.S. Energy Department on Friday said it would provide up to 1 million barrels of crude oil from the Strategic Petroleum Reserve to help support ExxonMobil's XOM.N efforts to restore refinery operations as part of an SPR exchange."ExxonMobil will return th...Reuters
Fri, Jul 11
METALS-Copper drifts lower on risk of tariffs hitting US demand
By Eric OnstadLONDON, July 11 (Reuters) - Copper prices slipped on Friday as investors anticipated the 50% tariff on the metal due to be imposed on U.S. imports is likely to erode demand, and as speculators unwound positions.Three-month copper on the London Metal Exchange CMCU3 was 0.4% weaker at $...Reuters
Fri, Jul 11
EXCLUSIVE-Meta won't tweak pay-or-consent model further despite risk of EU fines, sources say
Meta unlikely to offer additional changes to its model, sources sayEuropean Commission has warned Meta of possible finesMeta has said it complies with Digital Markets ActMeta shares fall 1.7% on FridayBy Foo Yun Chee BRUSSELS, July 11 (Reuters) - Meta Platforms META.O is very unlikely to offer mo...Reuters
Fri, Jul 11
HSBC joins US banks in quitting climate coalition
Says NZBA helped in developing guiding frameworksSays foundation now in place; will leave the NZBAPreparing to update transition plan By Simon Jessop and Virginia Furness LONDON, July 11 (Reuters) - Britain's HSBC HSBA.L became the latest bank to leave the industry's climate coalition on ...Reuters
Fri, Jul 11
Shepherd extends admitted casualty products to California
By Chris MunroJuly 11 - (The Insurer) - Shepherd is now offering its admitted casualty products in California with the construction and energy industry-focused MGU now approved to write the coverage in every state bar New York.The technology-driven MGU said the entry into California’s admitted marke...Reuters
Fri, Jul 11
US Cash Grains-Corn basis bids mostly steady to firm, soybean bids flat-lower
CHICAGO, July 11 (Reuters) - Spot basis bids for corn were mostly steady at U.S. Midwest interior and river elevators early on Friday and mostly unchanged to firm at processing plants as futures values eased ahead of a monthly U.S. government crop report due later in the morning. Spot soybean basis ...Reuters
Fri, Jul 11
EU wheat holds at 2-week top with exports and US data in focus
PARIS, July 11 (Reuters) - Euronext wheat held steady on Friday at a two-week high as traders assessed export delays in Russia that had sparked a rally the previous day, while awaiting U.S. government crop data.A further fall in the euro EUR=, which continued to move away from a 3-1/2 year high agai...Reuters
Fri, Jul 11
