News
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California sets aside penalties for high refinery profits
By Erwin SebaHOUSTON, Aug 29 (Reuters) - California's Energy Commission voted on Friday to temporarily set aside penalties for excessive refining profits that were adopted after gasoline pump prices climbed over $8 a gallon in 2022. The five-year delay in implementing the penalties comes as Phil...Reuters
23 minutes ago
California sets aside penalties for high refinery profits
By Erwin SebaHOUSTON, Aug 29 (Reuters) - California's Energy Commission voted on Friday to temporarily set aside penalties for excessive refining profits that were adopted after gasoline pump prices climbed over $8 a gallon in 2022. The five-year delay in implementing the penalties comes as Phil...Reuters
39 minutes ago
Putin lambasts trade sanctions on eve of visit to China
Putin says Russia, China oppose "discriminatory" trade sanctionsPutin to visit China August 31 to September 3 for regional summit, military paradeChina is Russia's biggest trading partnerBy Ryan Woo BEIJING, Aug 30 (Reuters) - On the eve of a visit to China, Russian leader Vladimir Pu...Reuters
54 minutes ago
Brazil probes JBS and other beefpackers for buying cattle from deforested land
By Lisandra Paraguassu and Ana ManoSAO PAULO, Aug 29 (Reuters) - Brazilian environment agency Ibama has notified 12 meatpacking plants, including two operated by JBS SA JBSS3.SA, of an inspection into their alleged involvement in a scheme to buy cattle from illegally cleared land in the Amazon rainf...Reuters
an hour ago
US Plains HRW Wheat-Basis bids steady to down ahead of U.S. holiday weekend
CHICAGO, Aug 29 (Reuters) - Spot basis bids for hard red winter wheat were flat to lower in the U.S. Plains on Friday as some locations rolled their basis to the December contract. Facilities in Wichita and Newton, Kansas rolled their basis to the December contract.K.C. wheat futures ticked up as tr...Reuters
2 hours ago
EXCLUSIVE-FEMA extends hiring freeze through 2025 as hurricane season looms
FEMA extends freeze on hiring any new employees until at least end of December Trump plans to phase out FEMA after 2025 hurricane seasonAgency says it is committed to delivering for Americans Former FEMA staff criticize Trump administration's inexperienceBy Courtney Rozen and Nathan Layne ...Reuters
2 hours ago
US tariff exemption for low-value packages ends with few hiccups but higher costs loom
Removal of tariff exemption to disrupt e-commerce, raise costs, analysts sayCustoms agency collecting duties on all global parcel importsMany postal services suspended shipments of parcels to USDisruptions similar to February's not yet seen, logistics expert saysBy David Lawder and Andrea Shalal...Reuters
3 hours ago
Most Trump tariffs are not legal, US appeals court rules
By Dietrich KnauthNEW YORK, Aug 29 (Reuters) - A U.S. appeals court ruled on Friday that most of Donald Trump's tariffs are illegal, undercutting the Republican president's use of the levies as a key international economic policy tool.Trump has made tariffs a pillar of U.S. foreign policy i...Reuters
3 hours ago
LIVESTOCK-Cattle futures rebound after selloff
CHICAGO, Aug 29 (Reuters) - Chicago Mercantile Exchange cattle futures rebounded on Friday following a technical selloff, though traders raised questions about consumer demand for beef as grilling season nears its end. Traders were also squaring positions ahead of the long Labor Day weekend and the ...Reuters
3 hours ago
EXCLUSIVE-FEMA extends hiring freeze through 2025 as hurricane season looms
FEMA extends freeze on hiring any new employees until at least end of DecemberAgency has said workforce cuts are not impacting disaster response Former FEMA staff criticize Trump administration's inexperienceTrump plans to phase out FEMA after 2025 hurricane seasonBy Courtney Rozen and Nathan La...Reuters
3 hours ago
DHS chief Noem fires two dozen FEMA employees citing cybersecurity failures
WASHINGTON, Aug 29 (Reuters) - U.S. Department of Homeland Security Secretary Kristi Noem said on Friday she fired two dozen members of the Federal Emergency Management Agency's (FEMA) IT department, citing "massive cyber failures.""While conducting a routine cybersecurity review, th...Reuters
4 hours ago
US will proceed with probe of solar imports from India, Laos and Indonesia
Aug 29 (Reuters) - The U.S. International Trade Commission voted on Friday to proceed with an investigation into whether solar panels from India, Laos and Indonesia are stifling domestic manufacturing, a key procedural step that could result in tariffs on those imports.WHY IT'S IMPORTANTThe unan...Reuters
4 hours ago
EXCLUSIVE-FEMA extends hiring freeze through 2025 as hurricane season looms
By Courtney Rozen and Nathan Layne WASHINGTON, Aug 29 (Reuters) - The U.S. Federal Emergency Management Agency has extended a hiring freeze through at least the end of this year, according to three sources familiar with the matter, as the peak of hurricane season approaches.The Trump administrati...Reuters
4 hours ago
US crude net-long positions hit lowest since 2007, CFTC reports
By Georgina McCartney HOUSTON, Aug 29 (Reuters) - Money managers reduced their net-long U.S. crude futures and options positions for the fourth straight week in the week to August 26, hitting the lowest level since January 2007, data from the U.S. Commodity Futures Trading Commission (CFTC) showe...Reuters
4 hours ago
US Cash Crude-Coastal grades slip as WTI/Brent spread narrows
Aug 29 (Reuters) - Coastal grades of crude oil fell while inland crudes rose on Friday, dealers said, as the U.S. crude futures' discount to the international benchmark Brent narrowed, weighing on export demand. West Texas Intermediate crude futures' discount to Brent WTCLc1-LCOc1 narrowed t...Reuters
4 hours ago
Trump cancels $679 million in federal funding for offshore wind projects
By David Shepardson and Nichola Groom 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.The move is the latest in a full-throated effort by the adm...Reuters
4 hours ago
ICE canola ends lower on harvest pressure, fund liquidation
Aug 29 (Reuters) - ICE canola futures fell to their lowest in nearly five months on Friday, pressured by fund-driven long liquidation and the start of what is expected to be a large Canadian harvest of the oilseed, traders said.Benchmark November canola RSX5 settled down $9.30 at $626.40 per metric ...Reuters
4 hours ago
Venture Global may soon produce LNG from all blocks at Plaquemines, filings show
Plaquemines plant receives FERC approval for nitrogen in Block 15Commissioning to continue in phases over two yearsPlaquemines pulls 20% of total US LNG gas demandBy Curtis Williams HOUSTON, Aug 29 (Reuters) - Venture Global VG.N could soon be producing liquefied natural gas from all blocks at it...Reuters
5 hours ago
Oil prices fall with expected low demand, upcoming supply boost
OPEC+ supply increase expected to arrive in autumnLackluster US demand expected as summer driving season endsUncertainty over Russian supply impacts market sentimentRussian oil exports to India set to rise despite US pressureBy Erwin Seba HOUSTON, Aug 29 (Reuters) - Oil prices fell on Friday as t...Reuters
5 hours ago
