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PRECIOUS-Gold on track for best month in four as inflation data bolsters rate cut bets
US dollar set for monthly loss of 2.2%Silver, platinum headed for monthly gainUS core PCE firms slightly but matches expectationsBy Anmol Choubey and Sarah Qureshi Aug 29 (Reuters) - Gold prices rose around 1% on Friday and were poised for their best monthly performance since April, as U.S. infla...Reuters
18 minutes ago
Brazil launching data center incentives next month to woo big tech, sources say
By Marcela Ayres and Bernardo Caram BRASILIA, Aug 28 (Reuters) - Brazil plans to announce a tax incentive plan in early September aimed at attracting foreign tech companies to build data centers in the country, two economic policy officials told Reuters.The sources, who requested anonymity to...Reuters
25 minutes ago
US drillers cut oil and gas rigs for second week in a row, Baker Hughes says
August 29 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, fell by two to 536 ...Reuters
28 minutes ago
Energy exec tasked with speeding up project approvals in Canada
OTTAWA, Aug 29 (Reuters) - Canada named senior energy industry executive Dawn Farrell on Friday to lead a new office designed to fast-track the review and approval of natural resources projects such as mines and pipelines, a process that can take a decade.Prime Minister Mark Carney announced the...Reuters
36 minutes ago
Kazakhstan says oil transport via CPC proceeding as normal, Interfax reports
MOSCOW, Aug 29 (Reuters) - Kazakhstan's energy ministry said on Friday that transportation of the country's oil via the Caspian Pipeline Consortium (CPC) was proceeding as normal, the Interfax news agency reported.CPC said on Friday it had suspended operations at a second mooring point follo...Reuters
39 minutes ago
Venezuelan bond, Gold Reserve shares rally as decision on Citgo auction winner looms
HOUSTON, Aug 29 (Reuters) - A defaulted Venezuelan bond collateralized with equity in U.S. refiner Citgo Petroleum rose 1.125 cents on Friday to a four-month high of 97.25 cents on the dollar, while shares of miner Gold Reserve GRZ.V rallied 18% in Toronto from Thursday's close, a sign that two ...Reuters
42 minutes ago
Euronext wheat steadies after lows
PARIS, Aug 29 (Reuters) - European wheat futures edged up on Friday to recover from contract lows, supported by a rally in Chicago corn, traders said.Large global supplies, tepid international demand and signs of accelerating exports from Russia limited gains, however.December milling wheat BL2Z5 on...Reuters
45 minutes ago
CITGO Corpus Christi East refinery FCCU2 unit shut unexpectedly
Aug 29 (Reuters) - CITGO Petroleum said on Friday its FCCU2 unit at the 165,000-barrel-per-day Corpus Christi East refinery in Texas experienced a sudden unplanned shutdown due to the loss of a control valve.The cause is under investigation, and operations personnel are working to stabilize refinery...Reuters
an hour ago
US oil production hit record high in June, EIA says
By Georgina McCartney and Shariq KhanHOUSTON, Aug 29 (Reuters) - U.S. crude oil production hit a record high in June, rising 133,000 barrels per day to 13.58 million bpd, according to data released by the Energy Information Administration as part of its Petroleum Supply Monthly series. Crude product...Reuters
an hour ago
Petrobras open to IG4 plan to take control of Braskem, sources say
By Luciana Magalhaes, Lisandra Paraguassu and Rodrigo Viga Gaier SAO PAULO, Aug 29 (Reuters) - Brazil's state-run oil firm Petrobras has been receptive to a proposal by IG4 Capital to take over engineering group Novonor's controlling stake in Latin America's largest petrochemical comp...Reuters
an hour ago
METALS-Copper set for 3% monthly gain on interest rate and demand hopes
By Polina Devitt LONDON, Aug 29 (Reuters) - Copper prices hit a five-week high on Friday, on track to end August with 3% growth, on expectations of a cut to U.S. interest rates and increased demand in September.Three-month copper CMCU3 on the London Metal Exchange was 1.0% higher at $9,914 a metr...Reuters
an hour ago
Europe Gasoline/Naphtha-Gasoline profit margins fall
LONDON, Aug 29 (Reuters) - Northwest European gasoline profit margins slipped by 61 cents to $15.15 a barrel on Friday as demand waned. A total of 4,000 metric tons of Eurobob E5 barges traded in the session, as Gunvor sold two barges to Trafigura.Another 14,000 tons of Eurobob E10 barges traded in ...Reuters
an hour ago
Oil minister says Iran will bypass curbs on oil sales despite 'snapback'
DUBAI, Aug 29 (Reuters) - Iranian Oil Minister Mohsen Paknejad said on Friday a return of sanctions under the so-called "snapback" may create restrictions on oil exports but Tehran has learned to bypass them, Iran's state media reported.Britain, France and Germany on Thursday launched a ...Reuters
2 hours ago
Oil prices fall with expected weaker demand, possible peace deal
OPEC+ meeting in focusUncertainty over Russian supply impacts market sentimentRussian oil exports to India set to rise despite US pressure HOUSTON, Aug 29 (Reuters) - Oil prices fell on Friday as traders looked toward weaker demand in the U.S., the world's largest oil market, and possible beh...Reuters
2 hours ago
Trump cancelling $679 million in federal funding for offshore wind projects
By David ShepardsonWASHINGTON, Aug 29 (Reuters) - The Trump administration said on Friday it was cancelling $679 million in federal funding for 12 offshore wind projects, including $427 million for a California project.The move is the latest in a full-throated effort by the administration to undermi...Reuters
2 hours ago
Chiquita to return to Panama with $30 million investment and 5,000 jobs
PANAMA CITY, Aug 29 (Reuters) - Banana giant Chiquita has agreed to restart operations in Panama after mass layoffs earlier this year, Panama's government and the company said on Friday. Chiquita plans to invest $30 million to launch production again in the western province of Bocas del Toro...Reuters
2 hours ago
US natgas futures ease, end August lower on fading summer heat
Exxon sees global gas demand up 20% by 2050Natgas futures on track for second straight monthly lossLSEG forecast 149 CDDs over the next two weeks vs 128 a day earlierBy Sherin Elizabeth Varghese Aug 29 (Reuters) - U.S. natural gas futures eased on Friday as muted trade ahead of a U.S. holiday wee...Reuters
3 hours ago
Trump cancelling $679 million in federal funding for offshore wind projects
WASHINGTON, Aug 29 (Reuters) - The Trump administration said on Friday it was cancelling $679 million in federal funding for 12 offshore wind projects, including $427 million for a California project.U.S. Transportation Secretary Sean Duffy announced that the department was cancelling or terminating...Reuters
3 hours ago
