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Kremlin declines comment on potential state seizure of gold producer Uzhuralzoloto
MOSCOW, July 7 (Reuters) - The Kremlin on Monday declined to comment on Russian prosecutors' efforts to seize shares in gold producer Uzhuralzoloto UGLD.MM, and said it was a matter for law enforcement.A Russian court last week said the Prosecutor General had filed a lawsuit seeking to transfer ...Reuters
Mon, Jul 7
OPEC+ set to agree another 550,000 bpd hike for September – Reuters
Citing five sources familiar with the discussions, Reuters reported on Monday that OPEC+ oil producers are set to approve another output boost by 550,000 barrels per day (bpd)for September when it meets next on August 3.
Fxstreet
Mon, Jul 7
EXCLUSIVE-OPEC+ set to complete big oil output cut unwinding in Sept, sources say
OPEC+ to agree another 550,000 bpd hike for Sept -sourcesOPEC+ to complete unwinding of 2.17 mln bpd cutUAE to complete output boost in line with new quotaOutput jump since April set to be 2.47 mln bpd or 2.5% of global demandBy Alex Lawler, Olesya Astakhova and Ahmad Ghaddar LONDON, July 7 (Reut...Reuters
Mon, Jul 7
Indonesia, U.S. companies including Pertamina, Exxon to sign $34 bln deal
JAKARTA, July 7 (Reuters) - Companies from Indonesia and the United States are expected to sign a memorandum of understanding worth $34 billion, including state energy Pertamina [RIC:RIC:PERTM.UL], Exxon Mobil Corp XOM.N and Chevron CVX.N, a government official said on Monday.The deal to be signed o...Reuters
Mon, Jul 7
EUROPE GAS-Prices trade in narrow range on strong supply
LONDON, July 7 (Reuters) - Dutch and British wholesale gas prices were trading in a narrow range on Monday morning due to strong supply from Norway and from liquefied natural gas (LNG). The benchmark Dutch contract for August delivery at the TTF hub TRNLTTFMc1 edged up by 0.06 euro to 33.46 euros pe...Reuters
Mon, Jul 7
Indonesia's flour mills sign deal with U.S. to buy 1 mln T of wheat per year
JAKARTA, July 7 (Reuters) - Indonesia's Wheat Flour Mills Association signed a memorandum of understanding (MoU) with U.S. counterparts on Monday to buy at least 1 million tons of U.S. wheat per year from 2026 to 2030, its chairman said.Members of the association will also buy around 800,000 ton...Reuters
Mon, Jul 7
China's central bank buys gold for eighth months in June
BEIJING, July 7 (Reuters) - China's gold reserves stood at 73.90 million fine troy ounces at the end of June, up from 73.83 million at the end of May, as the central bank bought the precious metal for an eighth straight month.China's gold reserves were valued at $242.93 billion at the end of...Reuters
Mon, Jul 7
ANALYSIS-China's rare earth export controls are good for Beijing, bad for business
Magnet makers squeezed by export curbs and weak Chinese economyExports made up as much as 50% for some major magnet makers' sales in 2024Recovery from export slump may be slow, even with deal to ease curbs July 7 (Reuters) - China's export restrictions on rare earths brought parts of the...Reuters
Mon, Jul 7
METALS-Copper prices fall amid uncertainty over US trade talks
By Hongmei Li SINGAPORE, July 7 (Reuters) - Copper prices on the Shanghai Futures Exchange and London Metal Exchange fell on Monday, pressured by concerns over U.S. trade negotiations and uncertainty surrounding potential tariffs ahead of President Donald Trump's July 9 deadline.The three-mon...Reuters
Mon, Jul 7
WTI recovers to near $65.50 as investors digest OPEC+ large Oil output increase
West Texas Intermediate (WTI), futures on NYMEX, recovers its initial losses and rebounds to near $65.50 during the European trading session on Monday. The Oil price bounces back even as OPEC+ confirms a bigger-than-projected increase in the Oil output from August.Fxstreet
Mon, Jul 7
Cities in China's Guangdong get $11 million in payouts from May-June floods
By Henry Gale July 7 - (The Insurer) - Heavy rainfall in China's southeastern Guangdong province has triggered nearly $11 million in parametric insurance payouts to cities in recent weeks.Since late April, 21 claims totalling nearly 77.5 million yuan ($10.8 million) have been triggered by rai...Reuters
Mon, Jul 7
GCube CEO calls on renewable insurers to maintain underwriting discipline
By Rebecca DelaneyJuly 7 - (The Insurer) - London market insurers must remain disciplined in underwriting newer renewable technologies like battery storage to avoid a retreat of capacity similar to that seen in onshore wind 30 years ago, GCube CEO Fraser McLachlan said on Thursday.Speaking during a ...Reuters
Mon, Jul 7
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Monday, early in the European session. WTI trades at $65.41 per barrel, down from Friday’s close at $65.66.Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $67.92.Fxstreet
Mon, Jul 7
Search teams scour Texas flood zone for dozens missing; 78 confirmed dead
Kerrville, on flooded river, accounts for most fatalitiesAt least 28 children among dead; 10 summer campers still missingState public safety chief predicts death toll will climb higherTrump disputes notion that job cuts contributed to disasterBy Sergio Flores and Evan Garcia KERRVILLE, Texas, Jul...Reuters
Mon, Jul 7
COLUMN-London Metal Exchange reaps the rewards of tariff turmoil: Andy Home
By Andy Home LONDON, July 7 (Reuters) - The London Metal Exchange (LME) has recorded its highest quarterly volumes since 2014 thanks to the market turmoil that followed U.S. President Donald Trump's "Liberation Day" tariffs. The LME Index basket of base metals .LMEX plunged 11% after ...Reuters
Mon, Jul 7
BRICS demand wealthy nations fund global climate transition
Leaders at Rio summit stress climate finance obligations Joint statement notes important role for fossil fuelsForest fund offers developing nations way to contributeBy Manuela Andreoni, Lisandra Paraguassu RIO DE JANEIRO, July 7 (Reuters) - Leaders of the BRICS group of developing nations prepare...Reuters
Mon, Jul 7
