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China FX reserves rise to $3.428 trln end-Feb from $3.399 trln end-Jan
SHANGHAI, March 7 (Reuters) - China's foreign exchange reserves rose to $3.428 trillion at the end of February from $3.399 trillion a month earlier, central bank data showed on Saturday, as the dollar took a reprieve after a months-long decline.Reuters
17 minutes ago
Iran war sends US crude futures up 12% a barrel
WTI hits level last seen in September 2023Brent trades over $90 per barrel for first time since April 2024Trump says he is unconcerned about rising gasoline pricesQatar's energy minister says oil could reach $150 a barrelBy Erwin Seba HOUSTON, March 6 (Reuters) - U.S. crude futures climbe...Reuters
an hour ago
White House seeks bolder action on energy prices amid Iran conflict
White House seeks quick measures without congressional approvalRising gasoline prices could impact Trump in midterm electionsU.S. crude oil prices rise over 12% amid Middle Eastern supply constraintsBy Jarrett Renshaw and Nandita Bose March 6 (Reuters) - The White House is asking federal agencies...Reuters
an hour ago
US pump prices surge as Iran war upends global energy supply
Fuel prices jump over 10% as oil prices surgeMidwest and South see steepest fuel cost increasesAnalysts predict further price rises due to market conditionsBy Nicole Jao, Jayla Whitfield-Anderson and Rich McKay MARIETTA/NEW YORK, March 6 (Reuters) - U.S. retail gasoline and diesel prices are soar...Reuters
2 hours ago
US Cash Products-Gulf Coast gasoline grades slide ahead of pipeline cycle change
NEW YORK, March 6 (Reuters) - Cash differentials for gasoline fell in the U.S. Gulf Coast on Friday, the last day to trade for delivery of the fuel on Colonial Pipeline's 16th annual pumping cycle to New York Harbor, traders said.U.S. Gulf Coast M3 conventional gasoline RU-DIFF-USG fell 2 cents,...Reuters
3 hours ago
CORRECTED-South Bow says US, Canada policy shift boosts prospects for Keystone XL revival
South Bow optimistic about North American policy shift for pipeline projectCEO Wirzba cites global conflicts as backdrop for energy securitySouth Bow launches open season to gauge interest in Prairie Connector pipelineBy Amanda Stephenson CALGARY, March 6 (Reuters) - The company behind a plan to ...Reuters
3 hours ago
Iran conflict boosts U.S. Gulf oil prices to highest since 2020
By Siddharth Cavale NEW YORK, March 6 (Reuters) - U.S. Gulf Coast heavy grades continued to surge on Friday as the Iran conflict spurred several Middle Eastern producers of heavy crude to curtail production and drove buyers to scoop up U.S. barrels. Prices of Mars sour crude, the flagship cr...Reuters
4 hours ago
US Senator Kelly proposes suspending federal gas tax through October 1
By David ShepardsonWASHINGTON, March 6 (Reuters) - Democratic U.S. Senator Mark Kelly proposed on Friday suspending the 18.4-cent-per gallon federal gasoline tax through October 1 in a bid to help Americans who face rising prices at the pump due to the U.S.-Israeli war with Iran.Gas prices have rise...Reuters
4 hours ago
US to reinsure maritime losses in Gulf up to about $20 billion
Oil and gas shipping in Gulf halted as insurers drop coverageUS says losses covered up to $20 billion on rolling basisShipping expert: two chokepoints could be under military threatUS says working with American insurance providersBy Timothy Gardner WASHINGTON, March 6 (Reuters) - The U.S....Reuters
4 hours ago
Iran's Guards challenges Trump to have US Navy escort oil tankers in Strait of Hormuz
March 6 (Reuters) - A spokesperson for Iran’s Revolutionary Guards challenged U.S. President Donald Trump to deploy U.S. naval vessels to escort oil tankers through the Strait of Hormuz, Iranian state media reported on Friday.The U.S. Navy could begin escorting oil tankers through the Strait of Horm...Reuters
4 hours ago
CANADA-CRUDE-Discount on Western Canada Select narrows
March 6 (Reuters) - The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures CLc1 narrowed on Friday as global oil prices leaped due to constrained Middle Eastern supply.WCS for April delivery in Hardisty, Alberta, settled at $12 a barrel below the ...Reuters
4 hours ago
CIF/FOB Gulf Grain-Corn, soybean basis down as futures rally, barge freight eases
CHICAGO, March 6 (Reuters) - Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals were mostly lower on Friday as futures prices scaled multi-month peaks and as river freight costs softened, traders said.Farmer sales of corn and soybeans to barge-loading river elevators acce...Reuters
4 hours ago
Canada calls discussions with US on USMCA 'constructive'
LeBlanc and Greer discuss USMCA review and bilateral trade issuesCanada aims to reduce tariffs on key sectors like steel and aluminumU.S. sees challenges in negotiations due to dairy and wine market barriersBy Promit Mukherjee OTTAWA, March 6 (Reuters) - Canada and the U.S. held a...Reuters
4 hours ago
Japan, France, Canada work on alternatives to US-led trade bloc for rare earth supplies
Japan funds rare earth projects with allies for supply chain diversificationFrance supports quota system and buyers' alliance for strategic mineralsCanada adds Australia to critical minerals production allianceBy Divya Rajagopal TORONTO, March 6 (Reuters) - Group of Seven members Japa...Reuters
4 hours ago
Goldman Sachs warns oil may surge above $100/bbl if Hormuz flows don’t recover
March 6 (Reuters) - Goldman Sachs said oil prices are likely to exceed $100 per barrel next week if no signs of a solution emerge to the severe disruption in flows through the Strait of Hormuz, warning that upside risks to its base‑case forecast are rapidly growing further.The bank said it plans to ...Reuters
4 hours ago
Ecuador expects $638 mln in investment from oil contract extensions-official
By Alexandra ValenciaQUITO, March 6 (Reuters) - The Ecuadorean government expects to secure over $638 million in investment commitments this year through contract extensions with private oil companies to boost national production, Deputy Minister of Hydrocarbons Eduardo Racines said on Friday.Ecuado...Reuters
5 hours ago
Ecuador expects $638 mln in investment from oil contract extensions-official
By Alexandra ValenciaQUITO, March 6 (Reuters) - The Ecuadorean government expects to secure over $638 million in investment commitments this year through contract extensions with private oil companies to boost national production, Deputy Minister of Hydrocarbons Eduardo Racines said on Friday.Ecuado...Reuters
5 hours ago
US Plains HRW Wheat-Basis steady as protein premiums fall
CHICAGO, March 6 (Reuters) - Basis bids for hard red winter wheat were flat in the southern U.S. Plains on Friday, as protein premiums fell and traders assessed weather risks to the crop. Protein premiums for railcar HRW wheat to and through Kansas City fell by 3 to 13 cents a bushel for wheat with ...Reuters
5 hours ago
US could lift sanctions on more Russian oil, says Bessent
March 6 (Reuters) - Treasury Secretary Scott Bessent on Friday said the United States could remove sanctions from more Russian oil, a day after Washington issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India."We may unsanction other Russian oil...Reuters
5 hours ago
