Energy Transfer LP (NYSE:ET) is set to move the primary listing of its common and Series I preferred units from the New York Stock Exchange to the Texas Stock Exchange in early October, making it the first major company to make such a switch from the NYSE to the newly established Dallas exchange. Reuters said the companies moving to TXSE, including Energy Transfer and related energy businesses, represent nearly $100 billion in combined market value, giving the fledgling exchange an important early credibility boost.
For Energy Transfer LP (NYSE:ET), however, the more important question is whether the move can eventually translate into better investor visibility or valuation rather than simply giving the company a stronger Texas identity. WSJ reported that Energy Transfer is worth roughly $75 billion and that Executive Chairman Kelcy Warren is a major backer of TXSE, owning about 30% of its parent company. That relationship makes the listing particularly significant, but it also means investors may scrutinize whether the decision creates a tangible benefit for Energy Transfer unitholders rather than primarily helping establish the new exchange.
The strongest bull argument is that Energy Transfer LP (NYSE:ET) is positioning itself ahead of a potentially important shift in the U.S. energy infrastructure market. TXSE is backed by major financial institutions including BlackRock, Citadel Securities, and Charles Schwab, and winning a roughly $75 billion company gives the exchange substantially more credibility with institutional investors. If TXSE attracts additional large energy companies, Energy Transfer could benefit from becoming one of the exchange's anchor names and gaining greater visibility among investors already focused on Texas-based energy infrastructure.
More importantly, the listing decision fits the underlying environment in which Energy Transfer LP (NYSE:ET) operates. Reuters has highlighted continued investment in U.S. gas-fired generation, LNG infrastructure, and pipeline networks as electricity demand rises and countries seek reliable energy supplies. The U.S. is also building substantial additional LNG export capacity. That matters because Energy Transfer's extensive midstream network can benefit from higher volumes of natural gas, crude oil, and NGLs without taking the same direct commodity-price exposure as upstream producers. If rising power demand from data centers and continued LNG development drive greater demand for U.S. gas transportation, Energy Transfer could see expanding opportunities to place additional infrastructure into service and lock in long-duration cash flows.

#transfer #company #infrastructure #listing

Fundstrat's Tom Lee took the Future Proof Citywide stage earlier this year with CNBC's Scott Wapner for a session that landed in the middle of a jittery tape that included geopolitical conflict, oil spiking, private credit cracking, and fresh doubts about AI spending. Not too far off where we find ourselves currently, but with an awful lot of volatility and shifting, uncertain outlooks between these six months. While their conversation was a snapshot in time, you can expect more of this kind of sharp, thoughtful ****** ysis next week.
The contrarian take of the session was oil. High crude, Lee argued, is actually constructive for U.S. equities. With the U.S. as a net exporter, our economic competitors are importers, and stalled global growth pushes investors toward growth stocks, which is about 80% of the U.S. market. On AI CapEx, he pushed back on the sticker shock, claiming roughly $700 billion a year is a fraction of the $60 trillion global labor market and small change against daily moves in gold.
Lee also made the case that software had bottomed at the time, that enterprises building their own tools inherit the maintenance burden software companies exist to carry, and that private credit is genuinely bad but not a GFC repeat, with the real fix being taking private companies public rather than pushing private product into retail portfolios. On crypto, his argument shifted from a perspective of digital gold to one of plumbing whereby Wall Street tokenizes ****** ets, and AI agents needing a settlement rail that handles fractions of a penny.
His parting advice was the oldest one in the book, dressed in new clothes: miss the 10 best days of each year and a 16% average return goes to roughly nothing. Danger and opportunity show up together. Staying invested is the perpetual drumbeat of advisors to their clients, but one that needs banging louder when markets feel much less certain.
Future Proof Festival is September 14–17 in Huntington Beach and includes four days on the boardwalk with advisors, ****** et managers, and fintechs building the modern wealth management industry. Find us at the ETF Oasis and don't miss the stellar agenda we've got lined up.

#find #session #credit #time

WASHINGTON (AP) — Canada might seem an unlikely target for a U.S. trade war.
No country on Earth buys as much from the United States as its northern neighbor. For American farmers, Canada is second only to Mexico as an export market.
A North American trade pact — negotiated by President Donald Trump during his first term — means that most American products enter Canada duty-free. Rankings of the world's most open economies usually put Canada near the top.
But when Trump looks at Canada, he says, he sees a predator out to cheat the United States and strangle its industries.
America has been "ripped off for 50 years by Canada," the president declared Saturday when asked if he was considering pulling out of the three-way agreement he signed with the leaders of Canada and Mexico in late 2018.

#Mexico #Trump #washington

As the conversation continues on the Rams' apparent misfire regarding the decision to barnstorm into and out of Melbourne, there's another question that needs to be asked about Week 1 international games played a long way away from the U.S.
Michael Holley mentioned the concept on Friday's PFT Live. And it's a good idea — the league should treat the Week 1 international game like the Super Bowl and require the teams to arrive early.
If the goal is to export the game to the countries, the effort needs to be more comprehensive. Get there early. Make local appearances. Have multiple press conferences in the place where the game will be played.
It takes the travel strategy out of the teams' hands and makes the issue part of the overall obligation.
Yes, the rest of the story regarding the 49ers-Rams travel adventure will unfold in Week 2, and possibly beyond. But the 49ers seemed to be far more prepared to play given their decision to go to Australia a week early. Having both teams arrive on the same day avoids the possibility that one team will be acclimated and one won't.

#teams #Rams #international #played

Soybeans were in rally mode on Thursday, with contracts 13 to 22 cents higher across most contracts. The cmdtyView national average Cash Bean price was up 22 1/2 cents at $12.74 ½. Soymeal futures saw gains of $2.30 to $5.50, as Soy Oil rallied 102 to 135 points.
USDA reported private export sale announcements of 272,000 MT of soybeans to China for 2026/27 and 206,500 MT of 2026/27 beans to unknown destinations this morning. Weekly Export Sales data will be out on Friday morning, with ****** ysts surveyed by Reuters looking for no sales to net cancellations of 500,000 MT for 2025/26 soybeans. New crop sales are seen in a range of 1 to 2.6 MMT in the week of September 3. Soybean meal sales are expected to be in a range of 150,000 to 950,000 MT, with 0 to 12,000 MT
Arabica Coffee Falls Sharply on ICO Projections for Record Coffee Production
Sugar Prices Climb as Crude Oil Soars
Can Soybeans Remain in the Teens?

#export #cash

October WTI crude oil (CLV26) closed up +6.43 (+6.69%) on Thursday, and October RBOB gasoline (RBV26) closed up +0.1826 (+5.69%).
Crude oil and gasoline prices surged on Thursday, with crude oil posting a 3.5-month high and gasoline posting a 2-week high. Crude prices are rallying sharply amid fears that the US-Iran war will persist, reducing Middle East energy exports and tightening global oil supplies. Crude prices rallied on Thursday despite a bearish weekly EIA inventory report.
Crude Oil Prices Soar on Fears US-Iran War to Persist
What are Markets Waiting on Thursday Morning?
Nat-Gas Prices Recover as European Nat-Gas Surges

#october #fears #closed

US natural gas production is projected to reach a record high of 111.7 billion cubic feet per day (bcfd) in 2026, up from 107.6 bcfd in 2025, according to the U.S. Energy Information Administration (EIA). By 2027, domestic supply is expected to hit 115.9 bcfd.
But that's only half the story.
Over the next two years, US natural gas supply and demand will both rise to record levels, the EIA states in its Short-Term Energy Outlook.
Domestic gas consumption is projected to rise from a record 91.9 bcfd in 2025 to 111.7 bcfd in 2026 and 115.9 bcfd in 2027.
The agency said increased drilling efficiency, rising electricity demand, and expanding liquefied natural gas (LNG) export capacity continue to drive production despite selective capital spending by producers.

#bcfd #record #production #demand

CAPE TOWN, South Africa (AP) — The Trump administration has provided a $99.6 million loan to a U.S.-owned cell phone network operator in Africa to expand American tech presence on a continent where China's Huawei is a leading player.
The loan from the U.S. government's Export-Import Bank was announced by the operator Africell on Friday. It is the only U.S.-owned cell network operator in Africa.
Africell said in a statement the loan would "boost U.S.-based employment in the telecommunications sector and strengthen American technology leadership abroad." It said the money would allow it to invest specifically in American and European technology for its operations in the southern African country of Angola.
Africell also operates in Congo, Sierra Leone and Gambia, it said.
Huawei is the world's biggest supplier of telecommunications network equipment and is estimated to have supplied more than half the 4G and 5G network infrastructure in Africa.

#loan

Soybeans were weaker on Wednesday, with contracts down 3 to 7 ¼ cents. The cmdtyView national average Cash Bean price was down 6 1/4 cents at $12.51. Soymeal futures closed with gains of 20 cents to $1.80 in the front months, as deferreds were weaker. Soy Oil was steady to 17 points lower on the day.
USDA reported private export sale announcements of 340,000 MT of soybeans to China for 2026/27 and 100,000 MT of 2026/27 beans to unknown destinations this morning.
Cocoa Prices Gain After Ghana Proposes Raising Farmer Pay
Coffee Prices Settle Higher on Tight ICE Inventories and Vietnam Weather
Sugar Prices Finish Sharply Higher as Crude Oil Surges

#cents #soybeans

Corn futures closed the Wednesday session with contracts slipping 3 to 5 ¾ cents and near session lows. The CmdtyView national average Cash Corn price was down 5 3/4 cents at $4.81.
USDA reported a private export sale of 182,880 MT of corn to Mexico this morning for 2026/27 shipment.
Cocoa Prices Gain After Ghana Proposes Raising Farmer Pay
Coffee Prices Settle Higher on Tight ICE Inventories and Vietnam Weather
Sugar Prices Finish Sharply Higher as Crude Oil Surges

#prices #corn #session #wednesday

Corn futures are down 2 to 3 1/2 cents so far on Wednesday. The CmdtyView national average Cash Corn price is down 3 cents at $4.84 1/2.
USDA reported a private export sale of 182,880 MT of corn to Mexico this morning for 2026/27 shipment.
Will Corn's Bullish Trend Continue
Arabica Coffee Retreats as Brazil Supplies Hit the Market
Adequate Cocoa Supplies Pressure Prices

#cents #wednesday #cash

Soybeans are falling back 5 to 6 cents so far on Wednesday, but a nickel off the early lows. The cmdtyView national average Cash Bean price was down 5 cents at $12.52 1/4. Soymeal futures are up 80 cents at midday, with Soy Oil 13 points lower. There were no deliveries against September soybean futures overnight, with 38 deliveries for September meal and 11 for bean oil.
USDA reported private export sale announcements of 340,000 MT of soybeans to China for 2026/27 and 100,000 MT of 2026/27 beans to unknown destinations this morning.
Will Corn's Bullish Trend Continue
Arabica Coffee Retreats as Brazil Supplies Hit the Market
Adequate Cocoa Supplies Pressure Prices

#cents #september #soybeans #futures

By Maximilian Heath
BUENOS AIRES, Sept 9 (Reuters) - Argentina's corn exports are expected to reach a record 10 million metric tons in August and September, driven by a ****** per harvest and strong international demand as buyers seek ‌alternatives to Ukrainian supplies disrupted by war and European crops battered by extreme heat.
The world's third-largest corn exporter is ‌wrapping up its 2025/26 harvest, estimated at 71.7 million tons, nearly 20% above the previous record set five years ago, according to government data.
"Argentine corn right now is very competitive in price and in volume," Gustavo Idigoras, head of the CIARA-CEC grains exporters and crushers chamber, told Reuters. Normal export volumes for August-September typically reach about 3 million tons, he added.
Idigoras said demand from North African countries — typically buyers of Ukrainian grain — has been the primary driver. "In the last months we've had meetings with several North African countries, who want to have deeper commercial ties ‌with Argentine exporters," he said, without naming specific ⁠countries.

#idigoras

By Maximilian Heath
BUENOS AIRES, Sept 9 (Reuters) - Argentina's corn exports are expected to reach a record 10 million metric tons in August and September, driven by a ***** per harvest and strong international demand as buyers seek ‌alternatives to Ukrainian supplies disrupted by war and European crops battered by extreme heat.
The world's third-largest corn exporter is ‌wrapping up its 2025/26 harvest, estimated at 71.7 million tons, nearly 20% above the previous record set five years ago, according to government data.
"Argentine corn right now is very competitive in price and in volume," Gustavo Idigoras, head of the CIARA-CEC grains exporters and crushers chamber, told Reuters. Normal export volumes for August-September typically reach about 3 million tons, he added.
Idigoras said demand from North African countries — typically buyers of Ukrainian grain — has been the primary driver. "In the last months we've had meetings with several North African countries, who want to have deeper commercial ties ‌with Argentine exporters," he said, without naming specific ⁠countries.

#countries #september #argentine #idigoras

Chinese independent refiners may be about to start reducing their processing rates as international oil prices rise and supply from major exporters such as Venezuela and Iran dries up as a result of U.S. foreign policy decisions.
"Teapots are unlikely to be able to afford a full shift to mainstream grades," an Energy Aspects ***** yst said this week, as quoted by Bloomberg. The so-called teapots are more sensitive to adverse oil market changes due to their refining margins being slimmer than those of state-owned majors. These margins have already fallen to breakeven, from around $10 per barrel in early July, Jianan Sun also said.
China imported 37.93 million tons, or 8.93 million barrels per day of crude oil in August, up by 6.2% compared to July, and further recovering from the decade-low seen in June, official Chinese customs data showed on Tuesday. The August import level was still 23.4% lower compared to the same month last year, but it's a marked improvement from the June lows of just 7.1 million bpd.
China slashed its total crude oil imports to a decade low in June, culminating three months of very low import levels amid high prices and constrained supply from the Middle East. This affected refinery output, which in turn contributed to the global fuel squeeze that is now set to deepen and extend in time as fighting in the Middle East continues and intensifies, pushing oil prices higher and sapping some refiners' appetite for the commodity.
With Venezuelan and Iranian crude all but gone, Chinese refiners will probably lean more heavily on Russian crude in the coming weeks. However, Russian crude prices are also on the rise on the futures market, in tune with all the other blends that trade internationally, which will likely put a lid on demand.

#june #july #China #middle

China's crude oil imports rose for the second consecutive month in August as refiners turned to additional non-Middle Eastern supply and boosted overseas fuel shipments amid eased export restrictions.
China imported 37.93 million tons, or 8.93 million barrels per day (bpd) of crude oil in August, up by 6.2% compared to July, and further recovering from the decade-low seen in June, official Chinese customs data showed on Tuesday.
The August import level was still 23.4% lower compared to the same month last year, but it's a marked improvement from the June lows of just 7.1 million bpd.
China slashed its total crude oil imports to a decade low in June, culminating three months of very low import levels amid high prices and constrained supply from the Middle East.
Beijing, having amassed about 1.4 billion barrels of crude before the war, could afford to dramatically reduce its crude buying, slashing import volumes in June by an estimated 4.4 million bpd compared to the 2025 average.

#compared

BEIJING, Sept 8 (Reuters) - Chinese electric vehicle maker BYD expects overseas shipments to exceed 2.5 million vehicles in ‌2027, two major brokerages said on Tuesday, citing a ‌group meeting with company management.
BYD did not immediately respond to a request for comment.
• The export target is underpinned by continued market-share gains overseas, an expanding fleet of dedicated car carriers and a growing local manufacturing footprint, Deutsche Bank said in a note.
• BYD management guided ‌overseas shipments to reach ⁠1.9 million to 2 million vehicles in 2026, nearly double last year's level, Deutsche Bank said. ⁠Management indicated that shipping constraints limited overseas sales this year and that export volumes could otherwise have been higher.
• BYD's Hungary plant is expected to start ******* embly in November or December. Management is also ‌evaluating additional overseas manufacturing locations, according to Deutsche Bank.

#overseas #export

DUBAI, Sept 7 (Reuters) - The United Arab Emirates is building alternative routes for its energy exports and trade to ensure they are not "held hostage" by the ongoing war between the U.S. ‌and Iran, UAE presidential adviser Anwar Gargash said on Monday.
The conflict has had a significant impact ‌on Gulf Arab states, including the UAE, after Tehran fired missiles at the country and attacked its oil tankers in the Strait of Hormuz.
"Our energy exports will not be held hostage, nor will our trade and economic activity," Gargash told the Hili Forum in Abu Dhabi.
The UAE has been expanding port capacity along its eastern coast, as well as developing pipelines, railways and trade routes for alternative corridors, he said.
While acknowledging that relations with Iran could eventually recover, Gargash warned that ‌rebuilding trust after the attacks could ⁠take decades.

#gargash #arab #energy #hostage

While President Donald Trump's tariffs have caused much heartburn on Wall Street, China's cheap and overwhelming exports have also been rippling through the global economy.
But the Chinese growth model is running out of road, setting the stage for another global economic crisis, according to Michael Froman, a former U.S. Trade Representative and current president of the Council on Foreign Relations.
Writing in Foreign Affairs last month, he warned "the world's ability to absorb Chinese overcapacity is approaching a breaking point."
For example, the International Monetary Funds estimated that global GDP growth is running around 3.1% this year, while China's trade surplus expanded more than 20% in early 2026. That's after China posted a $1.2 trillion trade surplus in 2025—the largest in recorded history—growing three times faster than global goods trade.
Now there's widespread pushback against the flood of Chinese exports. Most notably, Trump hiked tariffs on China last year and made it the centerpiece of his "Liberation Day" trade war. But even once-stalwart defenders of open markets, like the European Union, are racing to put up trade barriers against China.

#trade

Kyle Shanahan believes that the Los Angeles Rams are so pressed about playing the 49ers at SoFi Stadium that they convinced the NFL to move the game to Australia this season, and San Francisco's coach said on Sunday that it still won't matter. In a press conference just days ahead of their Week 1 matchup, Shanahan said that the league "let the Rams off the hook" by moving a Niners "home game" (aka at SoFi Stadium) to Melbourne, but that "it won't be much different here".
Shanahan expects the same pro-49ers crowd to be present at the Melbourne Cricket Grounds this Thursday.
The 49ers have had an undeniable presence at SoFi Stadium, but Shanahan isn't being shy about his belief that the Rams have pushed the NFL to move the game as to avoid the story this year. ProFootballTalk's Mike Florio has described Shanahan's attitude about the game this season as "salty" regarding the trip to Australia:
49ers coach Kyle Shanahan has been salty about the Rams' desire to export a home game to Australia, in order to avoid yet another San Francisco-fan takeover of SoFi Stadium. Now that Shanahan and the 49ers have hunkered down in Melbourne, Shanahan feels differently.
Shanahan currently believes "it won't be much different" in Austrialia — and he expects the so-called Faithful to take over the 100,000-seat Melbourne Cricket Ground on Thursday night.

#Rams #australia #won 't #kyle

DUBAI, Sept 5 (Reuters) - U.S. and Iranian forces fired at vessels in waters around Iran on Saturday, including three Iranian oil carriers struck by the Americans and three tankers that Iran said it targeted while on unauthorized ‌routes in the Strait of Hormuz.
U.S. Central Command said it struck the three Iranian vessels, including one off the ‌coast of Kharg Island, near Iran's oil export hub, after Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at two U.S. Navy ships.
"Let the message to the IRGC be clear: If you shoot at two of our ships, we will impose an even higher economic cost — taking out three of yours," said Admiral Brad Cooper, head of U.S. Central Command, which oversees the U.S. military in the Middle East.
The IRGC responded by threatening intensified strikes against U.S. military vessels in the region, and said later it targeted the three tankers as well as three U.S.-linked vessels in other areas.
"Do not be deceived ‌by the 'terrorist' U.S. military and refrain from any suspicious ⁠movement aimed at passing through unauthorized waterways," the IRGC Navy said in a statement carried on Iranian state TV. "Otherwise, you will be targeted."

#central

CAIRO (AP) — The U.S. military on Saturday said it struck three Iranian oil tankers after Navy warships were targeted with missiles, warning that it would "if necessary, destroy Iran's limited and exposed oil fleet."
The strikes — a day after President Donald Trump sought to minimize the conflict as "small potatoes" — keep up a new tilt back toward fighting after six months of on-again, off-again war that began with U.S. and Israeli attacks on Feb. 28. Both sides have sought to inflict both military and economic pain, and negotiations have collapsed.
The military's statement said a U.S. aircraft carrier and a destroyer evaded "multiple unprovoked Iranian attacks" while patrolling in the region and no U.S. personnel were hurt. It said two Iranian oil carriers were "permanently disabled" and the third, unladen one, was destroyed.
The U.S. statement said the tankers were part of a shadow network helping to fund Iran's powerful Revolutionary Guard and its armed proxies in the region.
Earlier, Iranian state TV had said four U.S. missiles struck a tanker about six miles (10 kilometers) from Kharg Island, home to a terminal through which the country exports most of its oil. Kharg Island been repeatedly targeted during the war, including U.S. strikes on military sites there in March.

#kharg #struck #missiles

Williams has closed its approximately $5.5 billion acquisition of Momentum Midstream, giving the U.S. pipeline operator a substantially larger position in the Haynesville natural gas basin as Gulf Coast LNG and power demand continue to rise.
The transaction consists of approximately $3.5 billion in cash and debt consideration and around $2 billion in Williams equity.
Momentum brings more than 4,000 miles of pipeline, over 1 million dedicated acres and 6 billion cubic feet per day of gas gathering capacity. The ******* ets also include processing and treating facilities and three pipelines backed by take-or-pay contracts with a combined 4.05 Bcf/d of transportation capacity.
Williams initially announced the acquisition on August 3, valuing the transaction at up to $5.5 billion. At the time, the company said the deal carried an implied valuation of approximately 8.5 times projected 2027 EBITDA and was expected to increase both earnings per share and available funds from operations per share. Williams also raised the midpoint of its 2026 adjusted EBITDA guidance by $200 million to $8.4 billion to reflect the transaction.
The acquisition gives Williams a larger role in moving Haynesville gas toward some of the fastest-growing sources of U.S. gas demand, particularly LNG export facilities and industrial consumers along the Gulf Coast.

#williams #billion #transaction

Cathie Wood appears to have made a sharp choice inside the same AI trade. ARK Invest's August 28 transaction disclosure showed sales of 156,286 shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) and purchases of 243,707 shares of NVIDIA Corporation (NASDAQ:NVDA). Based on the August 28 closing prices, the moves were worth an estimated $72.8 million and $53.0 million, respectively. ARK also bought Broadcom, making the message look less like a retreat from AI chips than a reordering of which suppliers offer the best risk-adjusted exposure.
The bull case for the switch is execution. NVIDIA Corporation (NASDAQ:NVDA) reported quarterly revenue of $96.2 billion, including $89 billion from its data-center business. Its scale, software ecosystem, and ability to sell complete systems give it a clearer path to monetizing every new cluster. Advanced Micro Devices, Inc. (NASDAQ:AMD) is growing rapidly from a smaller base, with second-quarter revenue up 50% and data-center revenue up 107%, but it still has to convert product momentum into durable share gains against a rival that sets much of the market's pace.
That does not make AMD the obvious loser. Its Instinct accelerators and EPYC server processors give customers a credible second source, while hyperscalers have strong incentives to prevent one vendor from controlling their economics. If AMD keeps improving its software and wins larger deployments, its smaller revenue base could produce more upside. Nvidia's strength also creates its own bear case: enormous expectations, customer concentration, export restrictions, and the risk that buyers increasingly favor custom silicon can punish even excellent results.
ARK's filing does not disclose its rationale. The same-day trade reduced AMD exposure and increased Nvidia exposure, but it does not mean AMD's thesis has broken. Hedge-fund holder counts rose for both names. At the end of Q2, 164 hedge funds owned AMD, up from 134 one quarter earlier, while Nvidia ownership rose to 285 funds from 275. Marshall Wace increased its AMD common-share position 3% to 3.9 million shares, and Fisher **** et Management raised its Nvidia stake 3% to 90.9 million shares.
AMD's reported short positioning was not exceptionally high. As of the August 14 settlement date, 40.1 million shares were sold short, equal to 2.47% of the float and 1.5 days of average trading volume. The trade is striking, but the fuller picture is a two-winner market: Nvidia offers the cleaner execution story, while AMD offers the more demanding and potentially more explosive share-gain story.

#NASDAQ #revenue #trade #advanced

A trade group representing American automakers is urging Congress to permanently bar the sale of Chinese vehicles in the U.S.
In a letter to senior lawmakers, the Alliance for Automotive Innovation on Thursday called on them to "enact a permanent ban on the sale, import and manufacture of Chinese connected vehicles, hardware and software" in the U.S., citing China's alleged unfair trade practices, intellectual property theft and pattern of surveillance.
"This behavior is a feature of the Chinese approach and especially acute when it comes to China's strategy to dominate global automotive manufacturing and critical supply chains," wrote the group's president and CEO, John Bozzella.
Bozzella also said that non-Chinese automakers are unfairly disadvantaged by China's industrial and manufacturing policy, which the car industry group said threatens to undermine the U.S. automotive manufacturing sector.
U.S. automakers face mounting competition from Chinese rivals, including BYD, which is exporting more low-cost vehicles worldwide.

#automotive #sale

Chinese refiners are paying a hefty premium for Russia's ESPO crude to replace Iranian crude that independent refiners were importing before the U.S. installed its naval blockade on the country.
East Siberia-Pacific Ocean crude, or ESPO, for delivery in November is trading at a premium of over $7 per barrel, with offers reaching as high as $10 per barrel over Brent crude, Bloomberg reported today, citing traders. The blend is loaded from Russia's Far East coast and can reach the buyers in China in less than a week, the publication noted.
China is the biggest buyer of ESPO crude, with a market share of 83% for the first seven months of the year. However, this share is down from 88% a year earlier. The change came amid stronger ESPO buying from Indian refiners, whose market share for the Far Eastern Russian crude blend went up from 12% to 16% for the first seven months of the year, according to data from Kpler and Vortexa. Total oil exports from Russia's Far Eastern port of Kozmino ticked up by 6% over the first seven months of the year.
India raised its ESPO imports due to the slump in overall Chinese oil imports between May and June, and the supply disruptions in the Middle East, which delayed many term cargoes Indian refiners were expecting in the early summer.
Normally, Indian refiners prefer the Urals blend but have now warmed up to ESPO even though it takes longer to reach its destinations in India and is costlier than Urals. However, the Far Eastern blend is a good backup option for Indian buyers in times of disruption, according to energy ***** ysts.

#year

Corn futures rounded out the Wednesday session with contracts fading the midday gains and closing 1 to 2 ¾ cents in the red. Some deferreds finished the day higher. There were another 203 deliveries issued against September corn overnight. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.98 3/4.
Wednesday's EIA report showed ethanol production in the week that ended on August 28 at 1.11 million barrels per day, down just 2,000 bpd on the week. Stocks saw a draw of 171,000 barrels to 25.036 million barrels. Refiner inputs of ethanol rose 17,000 bpd to 940,000 bpd as exports slipped 58,000 bpd to 104,000 bpd.
Cocoa Prices Tumble as Supplies Increase
Coffee Prices Finish Sharply Lower on Supply Pressures
Harvest Pressures Weigh on Coffee Prices

#prices #barrels #down

The wheat complex closed the midweek session with winter wheats fading lower and spring wheat closing higher. Chicago SRW contracts were down 2 to 9 ¼ cents on Wednesday. There were another 9 deliveries overnight against Sep CBT wheat. KC HRW futures were down 1 ¾ to 11 cents in most contracts at the close. There were 29 delivery notices for September KC wheat overnight. MPLS spring wheat was the firmest of the three exchanges, up 4 ¼ to 12 cents.
Overnight, Russia suspended the export duty on grain exports through the end of the year.
Cocoa Prices Tumble as Supplies Increase
Coffee Prices Finish Sharply Lower on Supply Pressures
Harvest Pressures Weigh on Coffee Prices

#contracts #down

Chevron will invest more than $7 billion in Venezuela over the next five years and more than double its oil production in the country to about 600,000 barrels per day, Reuters reported Wednesday.
The investment follows new agreements with Venezuela that give Chevron improved fiscal, commercial and legal terms and additional acreage in the Orinoco Belt. Chevron said its three Venezuelan joint ventures will invest the money through 2031, with total production costs remaining below $20 per barrel.
Chevron currently produces about 290,000 bpd in Venezuela, all of which is exported to the United States, according to Reuters. Venezuela is producing about 1.1 million to 1.2 million bpd, down from more than 3 million bpd in the late 1990s.
The new acreage includes the Carabobo-1 and Carabobo-2-South-A areas in the Orinoco Belt, ******* igned to Petroindependencia, the joint venture in which Chevron holds a 49% interest. Chevron also increased its Petroindependencia stake to 49% in April and received rights to develop the Ayacucho 8 area next to its Petropiar venture. Its three Venezuelan joint ventures have increased production by 15% so far this year.
Wednesday's announcement puts a dollar figure and production target on the Chevron agreements that were nearing completion earlier this week. Those agreements were previously described only as being of "significant size," with Chevron seeking additional Orinoco Belt acreage.

#venezuela #joint #reuters

OPEC+ is likely to leave its oil production policy unchanged for October when seven of its core members meet on Sunday, Reuters reported Wednesday, citing three sources close to the matter.
Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman are due to meet online at 11:00 GMT Sunday. The seven producers have spent much of 2026 raising their monthly production quotas, with the September increase completing the phased rollback of 1.65 million barrels per day of supply cuts first agreed in 2023.
Much of that additional supply has failed to reach the market. Actual production has lagged the higher quotas as the Iran war disrupted Gulf exports through the Strait of Hormuz, while the war in Ukraine has hit exports from Russia and Kazakhstan. OPEC production rose by 1.17 million bpd in July, but output remained well below the group's quotas.
The Iran war has also weakened OPEC+'s ability to influence the market. With Gulf exports constrained by the disruption in Hormuz, Reuters said the group's production decisions now have less impact on prices and market share than they did before the war.
Brent crude was trading near $94 per barrel Wednesday as renewed U.S.-Iran fighting and attacks on tankers kept attention on physical supply from the Gulf rather than OPEC+ production targets.

#production #Iran #supply #exports