The US and China are discussing a plan to reduce or eliminate China's tariffs on American LNG as part of a broader package of energy and agriculture agreements that could be announced when Chinese President Xi Jinping visits Washington next week, according to two people briefed on the discussions. The potential relief on US exports of liquefied natural gas is being discussed alongside a broader framework under which the US and China would each cut tariffs on about $30 billion of goods, the [Read more]
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Record US diesel prices squeeze farmers; food prices may rise
In northeast Missouri, Addie Yoder, a corn, soybean and cattle farmer, runs two combines, three semi-trucks and several tractors from mid-September to late October to harvest and transport her crops. With diesel prices at record highs and just one combine requiring 300 gallons of the fuel, the best she can do is try to curb other expenses, she said. In southeast South Dakota, Drew Peterson, a soybean, corn and cattle farmer, expects to spend as much as $1,500 per day to fuel just one of [Read more]
US natural gas prices hold steady as higher LNG flows counter rising output
US natural gas futures held steady as bullish forecasts for more demand next week and an increase in daily flows to liquefied natural gas export plants offset a bearish increase in output and ample amounts of gas in storage. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 1.1 cents, or 0.4%, to settle at $2.912 per million British thermal units. That put the contract up about 3% for the week after falling about 5% last week. Looking ahead, futures [Read more]
US energy firms add rigs for second week to highest since May 2024, Baker Hughes says
US energy firms this week added rigs for a second week in a row for the first time since July, energy services firm Baker Hughes said in its report on Friday. The total oil and gas rig count, an early indicator of future output, rose by four to 595 in the week to September 18, its highest since May 2024. Baker Hughes said this week's increase puts the total rig count up 53 rigs, or 10% above this time last year. Baker Hughes said oil rigs rose by two to 452 this week, their highest [Read more]
Warren Buffett’s road to investing glory
Warren Buffett, Berkshire Hathaway's former CEO and legendary investor, is stepping down as its chairman, marking the end of his executive duties at the firm he helped build into one of the world's largest conglomerates. Buffett, 96, will become chairman emeritus, an honorary title that typically does not include decision-making responsibilities. He will remain a member of the board and offer his judgment and perspective, Berkshire said. Here's a timeline of major milestones under [Read more]
What commodity markets can expect from the Trump-Xi summit
Trade in agriculture, energy and rare earths has become major bargaining chips in the trade war between the United States and China and are likely to feature again when President Donald Trump hosts his counterpart Xi Jinping in Washington next week. Here's what else we know: AGRICULTURE Agricultural goods, led by soybeans, are one of the biggest US exports to China, reaching $29 billion in 2024. They are also among the least sensitive parts of the trade relationship and thus a likely [Read more]
Record diesel prices could be Trump’s Achilles’ heel: Bousso
Unlike crude oil or gasoline, diesel rarely makes front-page news, yet it now has U.S. President Donald Trump’s full attention. Spiking prices for the fuel threaten to push inflation much higher, and taming it will be an epic challenge. Trump has recently shifted his focus from domestic gasoline prices to diesel. Last week, he urged Ukrainian President Volodymyr Zelenskiy to stop targeting Russian diesel production. He later announced that Russia and Ukraine had agreed not to attack each [Read more]
What would a Canada-EU energy alliance look like?
CALGARY - Canada has the potential to bolster Europe's energy security through a new alliance, but experts say it doesn't necessarily mean tankers crossing the Atlantic Ocean laden with oil or liquefied natural gas. Prime Minister Mark Carney was in Strasbourg, France, this week where he and European Union leadership discussed strengthening ties on several fronts amid strained relations with the United States. Werner Antweiler, an economist at the University of British Columbia, says [Read more]
Odds of an interest rate hike from Bank of Canada this year have jumped
OTTAWA - Traders are increasingly betting that the Bank of Canada could end its string of interest rate holds and deliver a hike as early as next month. While many economists remain unconvinced that the central bank will raise the cost of borrowing this year, concerns that inflation could become a more persistent thorn than first thought have some pencilling in a tightening cycle to start in early 2027. The U.S. Federal Reserve broke its own stand-pat stance and delivered the United [Read more]
Rising oil, rates and yields brew up stagflation cocktail for markets
The surge in energy and global borrowing costs as a result of the war in the Middle East is pushing economies and markets further towards a potentially damaging period of high inflation and slow growth. For now, stocks remain near record highs and economic growth, thanks to the avalanche of spending on the AI boom, has been resilient. The rise in the value of oil and gas, and the increase in global government bond yields to financial crisis-era highs, has been orderly. But a growing number [Read more]
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