|Day's Range||158.05 - 159.23|
Conventional wisdom in oil markets since the 2014 oil market meltdown suggests that shale is by far the most competitive form of oil production, but deepwater drilling is now mounting a serious comeback
By Sonali Paul and Ron Bousso MELBOURNE/LONDON (Reuters) - BP Plc has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton for $10.5 billion, expanding the British oil major's footprint in some of the nation's most productive oil basins in its biggest deal in nearly 20 years. The acquisition of about 500,000 producing acres marks a turning point for BP since the Deepwater Horizon rig disaster in the Gulf of Mexico in 2010, for which the company is still paying off more than $65 billion in penalties and clean-up costs. "This is a transformational acquisition for our (onshore U.S.) business, a major step in delivering our upstream strategy and a world-class addition to BP's distinctive portfolio," BP Chief Executive Bob Dudley said in a statement.
Globally, over 52 GW of wind power was added in 2017, according to the Global Wind Energy Council. Europe added almost 4.5 gigawatts (GW) of wind energy capacity in the first half of 2018, industry body WindEurope said Thursday, a marked slowdown from record numbers last year. WindEurope said the new figures were "in line with expectations" but were lower than the same period in 2017, which saw 6.1 GW added.
By Trevor Hunnicutt NEW YORK (Reuters) - Investor concerns over U.S. trade policy overshadowed worries about political instability in Italy, driving equity prices lower on Thursday. Equity indexes around the world fell after the United States said it would impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union and Washington's allies took steps to retaliate against U.S. goods.
By Rod Nickel WINNIPEG, Manitoba (Reuters) - Production of Canada's biggest crop, canola, has expanded rapidly in recent years amid strong demand for the vegetable oil it produces. Seed developer DowDuPont Inc hopes to change that as early as next year. DowDuPont is in late development stages of a canola variety with higher protein content rivaling that of soybeans, which dominate the pig feed market.
By P.J. Huffstutter, Tom Polansek and Chris Prentice CHICAGO/NEW YORK (Reuters) - Global grain merchants Archer Daniels Midland Co and Bunge Ltd can withstand agricultural trade disruptions arising from U.S.-China tensions and potentially profit from them, company executives said on Wednesday. Soren Schroder, chief executive of Bunge, and Ray Young, ADM's chief financial officer, also said at an investor conference in New York that their companies were benefiting from a savage drought in Argentina that has increased soy processing margins and trading prospects.
By Karl Plume and P.J. Huffstutter CHICAGO (Reuters) - Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain, trade sources and a Reuters analysis of export and shipping data showed. Sorghum is a niche animal feed and a tiny slice of the billions of dollars in exports at stake in the trade dispute between the world's two largest economies, which threatens to disrupt the flow of everything from steel to electronics. The supply-chain pain felt by sorghum suppliers on the Pacific, Atlantic and Indian oceans underscores how quickly the mounting trade tensions between the U.S. and China can impact the global agricultural sector, which has been reeling from low commodity prices amid a global grains glut.
Bitcoin struggling early, but the losses are not enough to raise alarm bells, the Bitcoin Bulls buying their time to gauge whether the U.S tax deadline will spur a rally later today.
Investing.com - Gold prices gained in Asia on Wednesday as a Twitter taunt by President Donald Trump to North Korean leader Kim Jong-un raised the stakes on nuclear weapons policy.
The fourth quarter of every year is usually the strongest for ethanol producers. But there's another major catalyst (and several smaller ones) this year.