BP's Whiting refinery, Indiana, continues to flare up days after a severe thunderstorm
BP's Whiting refinery, which produces 440,000 barrels per day, has continued to flare up after flooding disrupted operations earlier this week. In a post on social media, the company stated that the facility continues to burn materials to maintain safe operation. They also added that floating barriers have been placed in Lake Michigan to act as a precaution due to the wind and wave conditions.
Indiana's BP Refinery restarts following severe flooding
IIR, a monitor of the industry, said that BP's Whiting refinery, which produces 440,000 barrels per day, is in the process to restart after flooding disrupted operations earlier in the week. The units will take several days for them to ramp up, IIR added. IIR stated that the facility will be running at full capacity by early next week. The refinery reported that it was experiencing flaring as a result of flooding from a severe storm.
Grain trade choppy as US crop tour results are awaited
Chicago soybean and corn contracts were up and down Monday, as traders awaited results from this week's Pro Farmer crop tours in the U.S. Midwest. Wheat futures dipped on technical selling despite a rise in export demand. The tour will measure corn yields in seven U.S. States and assess soybean production potential, following forecasts last week by the U.S. Agriculture Department of a record U.S. crop.
Grain trade choppy as US crop tour results are awaited
Chicago soybean and corn contracts were up and down Monday, as traders awaited results from this week's Pro Farmer crop tours in the U.S. Midwest. Technical selling also pushed wheat futures lower, but a rise in export demand provided some support. The tour will measure corn yields in seven U.S. States and assess soybean production potential, following forecasts last week by the U.S. Agriculture Department of a record U.S. crop.
GRAINS-Soybeans and corn drop on China demand concerns, US crop tour is awaited
Chicago soybean and corn contracts fell on Monday due to favorable weather conditions in the United States and low export demand, as tensions between China and the U.S. continued. The expectation of a large U.S. harvest has also led to a weakening in corn. At 1110 GMT, the most active soybeans on Chicago Board of Trade CBOT fell by 0.5% to $10.37-1/4 a bushel. Corn dropped 0.5% to $4.03 per bushel. Wheat fell by 0.4% to $5.24 1/2 a bushel.
Bloomberg News reports that Orsted, the energy firm, is considering a rights issue of up to 5 billion Euros.
Bloomberg News, citing sources familiar with the situation, reported Friday that Orsted, a Danish energy company, is looking to raise up to 5 billion euros ($5.83billion) through a rights offer in order for it consolidate its finances. If Orsted decides proceed, then the fundraising plan may be announced within the next few weeks. Orsted's value has plummeted from its peak in 2021, due to rising costs and disruptions in the supply chain.
Enbridge Sees Demand for More Pipeline Capacity from Canada to US Gulf
Canadian pipeline operator Enbridge said on Friday its recent commercial process to gauge oil shippers' interest in an expansion of its Flanagan South pipeline was oversubscribed, indicating strong demand for additional oil transport capacity from Canada to the U.S. Gulf Coast.The success of the Flanagan South open season — an industry term for the binding process…
TC Energy increases its core profit forecast for the full year on natural gas and electricity demand
TC Energy, a Canadian pipeline operator, raised its core earnings forecast for the full year adjusted on Thursday due to increased demand for natural gas and electricity and its North America operations. TC Energy announced in May that it expects a surge in capital projects to be announced later this year or in the following years, due to coal-to gas conversions and growth in data centers driving natural gas demand across North America.
GRAINS-Soybean Futures extended losses due to favorable US weather and weak demand
Analysts said that Chicago Board of Trade soy futures declined for the fourth session in a row on Wednesday. The decline was attributed to favorable weather conditions across the U.S. Midwest, and weak export demand. Wheat futures fell, too, but corn futures rose. Forecasts of cooler temperatures and occasional rainfall in the U.S. Midwest have boosted expectations for large U.S. corn and soy harvests. Futures prices are now impacted by this.
GRAINS-Chicago soyabeans extend losses due to favorable weather and weak demand
Chicago soybean futures dropped on Wednesday due to favourable weather conditions in the U.S. Midwest, and weak demand. By 0338 GMT the most active soybean contract at the Chicago Board of Trade dropped 0.05%, to $10.09 a bushel. This is on course for a fourth session of falling soybean prices. Corn fell 0.18%, to $4.10 per bushel. Wheat fell 0.42%, to $5.28 per bushel. This is near the seven-week low.
GRAINS-Chicago corn and soybeans drop due to large US crop prospects, favorable weather
Chicago soybean and corn contracts fell on Tuesday due to expectations of large U.S. crops amid favorable weather in the Midwest. By 0444 GMT the most active soybean contract on Chicago Board of Trade dropped 0.25%, to $10.09 a bushel. This was a third session of losses. Corn dropped 0.13%, to $3.93 per bushel. The U.S. Crop Belt is expected to receive timely rains and cooler temperatures this week…
GRAINS-Chicago soyabeans set to suffer second loss in a row due to favorable weather and supplies
Chicago soybean futures are poised to suffer a second weekly loss in a row on Friday due to favorable weather conditions in the U.S. Midwest, and an abundance of global supplies. As of 0226 GMT the most active soybean contract increased 0.02%, to $10.17 a bushel. However, it remained close to an 11-week-low. Midwest U.S. Midwest has experienced ideal conditions for growing corn and soybeans.
GRAINS-Chicago Soy increases on oil rebound, but wheat and corn decline on abundant supply outlook
Chicago soybean and soyoil contracts edged up on Wednesday as investors watched the fragile ceasefire agreement between Iran and Israel. After three consecutive sessions of losses, the most active soybean contract gained 0.24% and reached $10.39-4/8 per Bushel. Soyoil rose 0.78% to 53.02 Cents per Pound. "Soybean oil and soybeans are taking a break as they have overshot to the downside…
Soybeans and grain prices fall as Middle East tensions are in the spotlight
Chicago soybean futures slipped lower on Monday as they unraveled gains made after crude oil prices rose on fears that a U.S. strike on Iranian nuclear facilities would disrupt supply. By 1128 GMT, the most active soybean contract had fallen 0.2% to $10.58-3/4 a bushel. Soyoil rose 0.8% to $54.9 cents per pound. The oil price surged in the early trade after the U.S. attacked Iranian nuclear sites on the weekend.
GRAINS: Soybeans rise as soyoil increases on Middle East tensions, but corn falls on favorable weather
Chicago soybean futures edged higher on Monday. This was supported by soyoil price gains after the U.S. attack on Iranian nuclear installations stoked fears about global crude oil supply. As of 0301 GMT, the most active soybean contract increased 0.09% to $10.61-1/2 per bushel. Soyoil rose 1.14% to 55.09 Cents per Pound. The U.S. launched a major attack on Iranian nuclear sites at the weekend.
GRAINS-Chicago soya beans slip after rally, corn and wheat rise
Chicago soybean futures eased on Wednesday as traders booked profit following a three day price rally, driven by soyoil strength and the broader market for energy. Meanwhile, ongoing tariff uncertainty limited further gains. The most active soybean contracts fell 0.23%, to $10.72 a bushel. However, it was still near its one-month high. The rising energy prices…
Industry says that the US dependence on Canadian oil should discourage Trump tariffs
Canada's oil industry doesn't expect tariffs to be included in the protectionist measures proposed by Donald Trump, U.S. president-elect. This is because U.S. refineries depend on Canadian barrels. Some Canadian oil industry players saw Trump's victory as a positive, which would encourage energy investment in North America. It could also boost the value of U.S. dollar that Canadian producers get for their crude.
Kansas Fed reports that drilling activity in the US Rockies and Midwest has fallen for the seventh consecutive quarter.
According to survey results released by Federal Reserve Bank of Kansas City on Friday, oil and gas activity in U.S. Midwest Rockies and Midwest declined in the third quarter. This is the seventh consecutive quarterly decline. The survey was conducted in mid-September and covered companies drilling in Kansas as well as Colorado, Nebraska, Oklahoma, and the northern half New Mexico.
U.S. Oil Futures Plumb Historic Sub-Zero Lows, Brent Plunges
U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first-ever sub-zero dive, as concerns grew the United States will run out of storage for a glut caused by the coronavirus lockdown.Global benchmark Brent crude also fell sharply in response to the collapse of demand following reduced economic activity.U.S.
TC Energy: North Dakota Spill Shutters Keystone pipeline
Oct 30 (Reuters) - TC Energy Corp said on Wednesday it is shutting its Keystone crude pipeline after a late Tuesday oil spill in North Dakota.The company said it detected a drop in pressure on Tuesday night on its 590,000-barrel-per-day (bpd) Keystone oil pipeline system from Canada, it said in a statement, without specifying the exact impact on operations."TC Energy immediately began the process to shut down the pipeline…