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Motiva restarting FCC at Port Arthur, Texas refinery, sources say
HOUSTON, April 9 (Reuters) - Motiva Enterprises began restarting the gasoline-producing fluidic catalytic cracker (FCC) at its 626,000 barrel-per-day (bpd) Port Arthur, Texas refinery on Wednesday, said two people familiar with plant operations. The 81,000-bpd FCC was shut on Jan. 21 for planned ove...Reuters
Wed, Apr 9
ANALYSIS-Sharp US bond selloff revives flashbacks of COVID-era 'dash-for-cash'
Margin calls, need for liquidity exacerbate bond selloffUnwinding of basis trade reminds investors of 2020 market crashSwap spreads tighten sharply, signaling selling pressureBy Davide Barbuscia and Gertrude Chavez-Dreyfuss NEW YORK, April 9 (Reuters) - A violent U.S. Treasury selloff, evoking th...Reuters
Wed, Apr 9
GRAINS-Soybeans seesaw as China raises tariffs on US goods
By Renee Hickman CHICAGO, April 9 (Reuters) - Chicago soybean futures traded both sides of unchanged on Wednesday, brushing off some earlier selling pressure after China raised its tariffs on U.S. goods to 84% from 34%. The most active soybean contract on the Chicago Board of Trade (CBOT) Sv...Reuters
Wed, Apr 9
Thyssenkrupp explores exit options for materials trading unit, Bloomberg News reports
April 9 (Reuters) - Germany's ThyssenKrupp AG TKAG.DE is exploring exit options for its materials trading subsidiary that could be valued at as much as 2 billion euros ($2.21 billion), Bloomberg News reported on Wednesday, citing people familiar with the matter. The company has held talks with p...Reuters
Wed, Apr 9
Carney says if he wins election, Canada will develop clean energy and conventional energy
OTTAWA, April 9 (Reuters) - Canadian Prime Minister Mark Carney on Wednesday said if his ruling Liberals won an April 28 election, the government would work to develop both clean energy and the lowest carbon conventional energy.Carney also told a press conference in Calgary that Canada would use dom...Reuters
Wed, Apr 9
Eni expects investors to value Plenitude at more than $11 billion
By Francesca Landini RAVENNA, Italy, April 9 (Reuters) - Eni ENI.MI expects investors interested in a minority stake in its renewables and retail arm, Plenitude, to value the business at more than 10 billion euros ($11 billion) including debt, one of the Italian energy group's executives said...Reuters
Wed, Apr 9
METALS-Copper extends losses to hit eight-month low in China as trade war escalates
By Eric Onstad LONDON, April 9 (Reuters) - Copper extended declines on Wednesday, with Chinese prices touching an eight-month low, as buying from bargain hunters dried up after top metals consumer China retaliated against higher U.S. tariffs, fuelling a trade war between the world's two bigge...Reuters
Wed, Apr 9
Europe Gasoline/Naphtha-Gasoline margins slide on demand uncertainty
LONDON, April 9 (Reuters) - Northwest European gasoline refining profit margins fell by about $1 a barrel on Wednesday to $12.42 a barrel despite lower U.S. inventories, amid growing fears of a global recession which could hit oil demand.A total of 4,000 metric tons of Eurobob E5 traded, with Vitol ...Reuters
Wed, Apr 9
FACTBOX-The Keystone pipeline's history of spills
By Amanda StephensonTORONTO, April 9 (Reuters) - The approximately 600,000-bpd Keystone oil pipeline from Canada to the United States remained shut down Wednesday after an oil spill near Fort Ransom, North Dakota, on Tuesday released an estimated 3,500 barrels of oil.The latest spill comes two years...Reuters
Wed, Apr 9
USTR will seek Congress approval on tariff deals if law requires, Greer says
WASHINGTON, April 9 (Reuters) - The Trump administration will seek congressional approval for any comprehensive free trade agreements, but anticipates that any deals struck with countries to ease President Donald Trump's latest tariffs may be more limited in nature, U.S. Trade Representative Jam...Reuters
Wed, Apr 9
ANALYSIS-US refiners unlikely to spend big to process more domestic oil
Light US crude requires a different configuration at refineriesChanging refinery setup can be a lengthy and expensive processRunning different crude types impacts refinery yields, marginBy Arathy Somasekhar April 9 - U.S. refiners are not planning to make big-ticket investments to process more do...Reuters
Wed, Apr 9
CK Hutchison invested $1.7 bln in Panama, surpassing obligations, it says
Company paid $668 mln in contributions, CK Hutchison saysTax exemptions have not been exclusively granted to the companyCK Hutchison calls to "protect the concession" By Marianna Parraga and Roshan Thomas April 9 (Reuters) - A company controlled by Hong Kong-based CK Hutchison 0001.HK...Reuters
Wed, Apr 9
Chile mining minister expects short-term copper demand to slow due to tariffs
SANTIAGO, April 9 (Reuters) - Global copper demand in the short-term could slow due to uncertainty over U.S. tariffs, Chile's Mining Minister Aurora Williams said on Wednesday.If the U.S. were to impose copper tariffs on Chile, she said the country would hope for a competitive advantage at the l...Reuters
Wed, Apr 9
US issues new sanctions on Iran as Trump seeks talks
Sanctions target five entities, one personBessent says will continue to leverage to disrupt Iran's nuclear effortsTrump has said US and Iran poised to begin direct nuclear talks WASHINGTON, April 9 (Reuters) - The United States issued fresh sanctions targeting Iran on Wednesday, the Treasury ...Reuters
Wed, Apr 9
Iraq, US sign preliminary deal on projects including 24,000 MW of power plants
DUBAI, April 9 (Reuters) - Iraq and the United States signed on Wednesday a memorandum of understanding for projects in the Gulf country, including 24,000 megawatts of power plants, the Iraqi prime minister's media office said.Another MOU has been inked between Iraq's Ministry of Electricity...Reuters
Wed, Apr 9
CORRECTED-Greer says Trump not trying to reinvigorate US-Russia trade by sparing Moscow tariffs
WASHINGTON, April 9 (Reuters) - U.S. Trade Representative Jamieson Greer told lawmakers on Wednesday that President Donald Trump was not trying to re-invigorate trade with Russia by sparing Russian goods from reciprocal or baseline tariffs, but it was up to Trump whether to impose any future duties...Reuters
Wed, Apr 9
COMMODITIES-Oil hits 4-year low, coffee and EU gas fall as trade war intensifies
Commodities hit by escalating US-China trade warOil dips below $60 a barrelRobusta and arabica coffee futures hit four-month lowsEuropean gas prices slideBy Naveen Thukral and Susanna Twidale SINGAPORE/LONDON April 9 (Reuters) - Oil prices fell to a four-year low and traded below $60 a barrel on ...Reuters
Wed, Apr 9
China hits back at Trump tariff hike, raises duties on US goods
China raises additional duties on U.S. goods to 84% amid trade warBeijing imposes restrictions on 18 U.S. companiesChina's trade surplus with U.S. widened to $295.4 billion last yearChina releases white paper on U.S.-China commercial tiesBeijing accuses U.S. of reneging on its side of 2020 trade...Reuters
Wed, Apr 9
US crude stockpiles rise as exports hit Jan lows, EIA data shows
By Stephanie Kelly NEW YORK, April 9 (Reuters) - U.S. crude oil stockpiles rose last week as imports increased and exports fell to their lowest since January, while gasoline and distillate inventories drew down, the Energy Information Administration said on Wednesday.Crude inventories rose by 2.6...Reuters
Wed, Apr 9
Trump expected to sign executive order on US shipbuilding - sources
WASHINGTON, April 9 (Reuters) - U.S. President Donald Trump is expected to sign an executive order potentially on Wednesday aimed at reinvigorating U.S. shipbuilding and reducing China's grip on the global shipping industry, three sources familiar with the matter said.Republican and Democratic U...Reuters
Wed, Apr 9
US issues new sanctions on Iran as Trump seeks talks
WASHINGTON, April 9 (Reuters) - The United States issued fresh sanctions on Iran on Wednesday, the Treasury Department said, two days after President Donald Trump announced the U.S. planned direct talks with Tehran over its nuclear program.The department designated five entities and one person based...Reuters
Wed, Apr 9
FACTBOX-From juice to jewellery: which U.S. goods will EU hit with tariffs?
By Philip Blenkinsop BRUSSELS, April 9 (Reuters) - The European Union will launch countermeasures from next Tuesday against U.S. President Donald Trump’s steel and aluminium tariffs with extra duties on 21 billion euros ($23 billion) of U.S. imports.The 27-nation bloc faces 25% import tariffs on...Reuters
Wed, Apr 9
US distillate fuel stocks fell to lowest since November 2023 last week, EIA says
NEW YORK, April 9 (Reuters) - Total U.S. distillate fuel oil stocks fell last week to 111.08-million-barrels, the lowest since November 2023, data from the U.S. Energy Information Administration showed on Wednesday.Distillate fuel inventories, which include diesel and heating oil, fell by 3.54-milli...Reuters
Wed, Apr 9
USDA to lose bird flu response employees, source says
USDA did not immediately respond to request for commentSource says departure of three workers likely to disrupt bird flu monitoringBird flu has sickened 70 people in U.S. and killed oneBy Leah Douglas April 9 (Reuters) - Several U.S. Department of Agriculture employees who worked on the agency...Reuters
Wed, Apr 9