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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
US sanctions hit Serbian oil firm NIS' operations despite waivers
NIS has had to switch to spot market purchases, sources sayOMV, Eko no longer buy transport fuel from NIS due to sanctionsNIS says ready to meet obligations, refinery operating normallyBy Robert Harvey and Aleksandar Vasovic LONDON/BELGRADE, April 9 (Reuters) - Serbian oil firm NIS is struggling ...Reuters
Wed, Apr 9
US bill creates fund to enforce oil sanctions on Russia's ghost fleet
WASHINGTON, April 9 (Reuters) - Legislation from two U.S. senators from both parties introduced on Wednesday establishes a fund to enforce sanctions on the so-called ghost fleet of tankers Russia relies on to carry oil to avoid Western sanctions over its war on Ukraine. The bill from Senators Joni E...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
French wine and spirits lobby welcomes EU countermeasures, but says difficulties remain
PARIS, April 9 (Reuters) - The French wine and spirits lobby FEVS said on Wednesday that countermeasures announced by the EU earlier on Wednesday against U.S. tariffs avoided escalating tensions in its sector, but added that difficulties remained unresolved with the United States.FEVS said it was pl...Reuters
Wed, Apr 9
US producers face tough choices on growth, capital returns as oil falls below $60
Oil benchmarks dip below $60 a barrel amid trade war fearsOil companies may cut capex, halt buybacks, analysts sayAnalysts expect cautious tone in April earningsBy Arunima Kumar April 9 (Reuters) - A plunge in oil prices below $60 per barrel due to an escalating trade war may trigger anxiety acro...Reuters
Wed, Apr 9
US energy secretary to discuss security during UAE visit
DUBAI, April 9 (Reuters) - United States Energy Secretary Chris Wright said his visit to the United Arab Emirates will include discussion on enhancing global energy security, the UAE state news agency reported on Wednesday.Wright will also discuss previously announced investment plans by the Gulf co...Reuters
Wed, Apr 9
U.S. grain trader ADM appoints Cuddy as President, North America
SAO PAULO, April 9 (Reuters) - U.S. grain trader Archer Daniels Midlands ADM.N has appointed Christopher Cuddy as president for North America, according to a source and an internal memo seen by Reuters on Wednesday.Cuddy will continue in his current role as global president of carbohydrate solutions...Reuters
Wed, Apr 9
EU to start retaliating against U.S. tariffs on Tuesday
EU retaliation only against U.S. steel and aluminium tariffsEU plans 25% tariff on U.S. motorcycles, poultry, fruit importsTrump's broader tariffs took effect on WednesdayBy Philip Blenkinsop BRUSSELS, April 9 (Reuters) - The European Union will launch its first countermeasures against U....Reuters
Wed, Apr 9