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Industry and shippers brace for Canada rail stoppage, fear 'catastrophe'

UPDATE 1-Industry and shippers brace for Canada rail stoppage, fear 'catastrophe' Talks between rail companies and Teamsters deadlocked, each side accuses other of bad faith Industry groups urge Trudeau's government to prevent stoppage, citing economic impact U.S. rail operator Norfolk Southern embargoes hazardous cargoes to/from CN and CPKC networks Add details from logistics firms, lobby associations, details on impact By David Ljunggren and Promit Mukherjee OTTAWA, Aug 14 (Reuters) - North Am
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W. Africa Crude-Angolan programme nearly clears

W. Africa Crude-Angolan programme nearly clears LONDON, Aug 14 (Reuters) - Angola's cargoes for September have nearly all been sold, traders said on Wednesday, as trading picked up ahead of the release of new export plans. * Only a small handful of cargoes remained up for sale as export programmes for October were due out next week. * State oil company Sonangol was still seeking a buyer for its spot cargo of Gimboa and continued to offer it at dated Brent minus $1.00. * Sonangol this month sold
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North Sea Crude-Forties, Midland bid higher

North Sea Crude-Forties, Midland bid higher LONDON, Aug 13 (Reuters) - North Sea Forties and U.S. WTI Midland crude differentials rose further on Tuesday as buying interest persisted in the Platts window. PLATTS WINDOW * Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP). * Forties: Vitol bid for a Sep.
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Middle East Crude-Brent's premium to Dubai hits 10-month high

Middle East Crude-Brent's premium to Dubai hits 10-month high SINGAPORE, Aug 13 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban rose on Tuesday, supported by firm demand in Asia as alternative supplies from other regions are becoming more expensive. Brent's premium to Dubai crude DUB-EFS-1M extended gains, rising 40 cents to $2.65 a barrel, the highest since October 2023. The widening spread between the two benchmarks makes Middle East crude more attractive to Asian buyers, compa
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Barrick open to being partner in Cobre Panama mine, CEO says

UPDATE 1-Barrick open to being partner in Cobre Panama mine, CEO says Adds CEO comments on deal-making, Teck, paragraphs 7,8,12,15 By Divya Rajagopal and Felix Njini TORONTO, Aug 12 (Reuters) - Barrick Gold ABX.TO stands ready to be a partner in the Cobre Panama copper mine once the Panamanian government decides on the disputed asset's future, Mark Bristow, CEO of the Canadian gold and copper mining company, said on Monday.
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North Sea Crude-Forties jumps to highest since March

North Sea Crude-Forties jumps to highest since March LONDON, Aug 12 (Reuters) - North Sea Forties crude differentials jumped to their highest since March on Monday, reflecting an overall firmer tone to the market due to supply outages and seasonal demand. * Short term Brent swaps have also found support in the past week, with trade sources citing supply losses in Libya as supportive for the wider Brent complex.
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Middle East Crude-Dubai slips in first of 3 sessions; Murban, Oman rise

Middle East Crude-Dubai slips in first of 3 sessions; Murban, Oman rise SINGAPORE, Aug 12 (Reuters) - Middle East crude benchmark Dubai slipped for the first time in three sessions on Monday while the spot premium for Oman rose. IFAD Murban's spot premium to Dubai crude extended gains for a third session to rise just above $1 a barrel. SAUDI ALLOCATION Saudi crude oil exports to China are set to fall in September to about 43 million barrels, several trade sources said on Monday, citing monthly a
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Europe Distillates-Diesel refining margins end week lower

Europe Distillates-Diesel refining margins end week lower LONDON, Aug 9 (Reuters) - Northwest European diesel barge refining margins slipped by around 89 cents to $16.89 a barrel on Friday, losing around 13% on the week amid low buying activity and rising inventories. Glencore sold a 3,000 metric ton 10ppm diesel barge to Gunvor in the Platts window, after the same two firms traded a single barge on Thursday.
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Global petrochemical firms shape up in oversupply crisis

FACTBOX-Global petrochemical firms shape up in oversupply crisis By Mohi Narayan and Joyce Lee NEW DELHI, Aug 9 (Reuters) - Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for three consecutive years, forcing firms to consolidate .
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W. Africa Crude-Sonangol said to sell Kissanje

W. Africa Crude-Sonangol said to sell Kissanje LONDON, Aug 8 (Reuters) - Angolan state oil firm Sonangol has sold a cargo of Kissanje crude and was still offering two other September-loading cargoes, a trade source said on Thursday. * Sonangol sold the Kissanje to Glencore, having offered the cargo at dated Brent minus 80 cents, the source said. The state company was still offering Gimboa at dated Brent minus $1 and was still thought to have a Dalia cargo last offered at dated Brent parity.
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Europe Distillates-Diesel refining margins ease on rising inventories

Europe Distillates-Diesel refining margins ease on rising inventories LONDON, Aug 8 (Reuters) - Northwest European diesel barge refining margins slipped by around 50 cents to $17.95 a barrel on Thursday as buying remained weak and as Atlantic basin inventories rose. Glencore sold a 10ppm diesel barge to Gunvor in the Platts window. Independently held refined oil products stocks in storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 1.5% in the week to Thursday, data
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Power Up: Oil’s Merry-go-round 

Power Up: Oil’s Merry-go-round  Aug 8 - By Clyde Russell Asia Commodities and Energy Columnist Welcome to Power Up! Crude oil prices have been on a wild ride, hitting the lowest in eight months early this week, before rebounding after U.S. inventories showed a bigger-than-expected draw, dropping for a sixth consecutive week. Brent futures edged up for a third session in Asian trade on Thursday, gaining as much as 0.3% to $78.56 a barrel, while West Texas Intermediate contracts rose 0.4% to $7
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Barclays, Ibstock, London Stock Exchange

EUROPE RESEARCH ROUNDUP-Barclays, Ibstock, London Stock Exchange Aug 8 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Barclays, Ibstock and London Stock Exchange, on Thursday. HIGHLIGHTS * Barclays BARC.L : HSBC raises target price to 310p from 290p * Ibstock IBST.L : Berenberg raises target price to 200p from 150p * London Stock Exchange LSEG.L : HSBC raises target price to 9,400p from 8,800p * Persimmon PSN.L : JP Morgan raises
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British Business - August 8

PRESS DIGEST-British Business - August 8 Aug 8 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Asset manager H2O has agreed to pay out 250 million euros ($273.35 million) to investors who have been trapped since 2020 in illiquid funds linked to Lars Windhorst, the German financier.
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Middle East Crude-Benchmark premiums snap two-day losing streak

Middle East Crude-Benchmark premiums snap two-day losing streak SINGAPORE, Aug 7 (Reuters) - Middle East crude benchmark premiums snapped a two-day losing streak and rose on Wednesday. Spot premiums for the three benchmark grades traded in a narrower range of 66-69 U.S. cents on Wednesday, compared with 48-56 cents on Tuesday. SINGAPORE CASH DEALS Cash Dubai's premium to swaps rose 16 cents to 67 cents per barrel.
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Glencore holding 25,000 T of zinc stocks after Zhairem ramp-up

Glencore holding 25,000 T of zinc stocks after Zhairem ramp-up By Pratima Desai and Julian Luk LONDON, Aug 7 (Reuters) - Glencore has built up 25,000 metric tons of unsold zinc because of the expansion and ramp-up of its Zhairem operation, part of its Kazzinc business in Kazakhstan, the company said on Wednesday during a briefing call. "We've had a buildup in some inventory, particularly in Kazakhstan in our zinc business, so we've produced about 25,000 tonnes more than we sold ...
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Zambia's proposed minerals law may hurt copper investment, mines lobby says

UPDATE 1-Zambia's proposed minerals law may hurt copper investment, mines lobby says Adds details on the proposed law in paragraphs 2-3 LUSAKA, Aug 7 (Reuters) - Zambia's proposed minerals regulation law could deter investment and deliver a "fatal blow" to its goal of raising annual copper output to 3 million metric tons, two mining bodies said on Wednesday.
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Zambia's proposed mining law bad for investment, miners say

Zambia's proposed mining law bad for investment, miners say LUSAKA, Aug 7 (Reuters) - Zambia's proposed minerals regulation law could deter investment and deliver a "fatal blow" to plans to raise annual copper output to 3 million tons, two mining bodies said on Wednesday. Zambia's government has proposed a new Minerals Regulation Commission Bill, which seeks to "regulate and monitor the development and management of mineral resources" in Africa's second-biggest copper producer.
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Glencore has ceased to stockpile battery material cobalt

UPDATE 2-Glencore has ceased to stockpile battery material cobalt Adds detail, background By Pratima Desai and Felix Njini LONDON, Aug 7 (Reuters) - Glencore GLEN.L has stopped stockpiling electric vehicle battery material cobalt, its CEO Gary Nagle said on Wednesday, adding though that the market was likely to remain in surplus for another 18 to 20 months.
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Glencore not stockpiling battery material cobalt any more

Glencore not stockpiling battery material cobalt any more LONDON, Aug 7 (Reuters) - Glencore is no longer stockpiling electric vehicle battery material cobalt, its CEO Gary Nagle said on Wednesday, adding though that the market will remain in surplus for another 18-20 months. Large surpluses of cobalt created by accelerating production of the metal
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