2025-09-15 00:52

Ukraine attacks more Russian energy facilities over weekend US-China officials in Madrid for trade talks Fed September 16-17 policy meeting in focus SINGAPORE, Sept 15 (Reuters) - Oil prices were little changed on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries that could disrupt its crude and fuel exports, while also eyeing U.S. fuel-demand growth. Brent crude futures edged up 3 cents to $67.02 a barrel by 0009 GMT while U.S. West Texas Intermediate crude was at $62.77 a barrel, up 8 cents. Sign up here. Both contracts gained more than 1% last week as Ukraine stepped up attacks on Russian oil infrastructure, including the largest oil exporting terminal Primorsk and the Kirishinefteorgsintez refinery, one of the two largest refineries in Russia. "The attack suggests a growing willingness to disrupt international oil markets, which has the potential to add upside pressure on oil prices," JPMorgan analysts led by Natasha Kaneva said in a note, referring to the attack on Primorsk. Primorsk has a capacity to load about 1 million barrels per day (bpd) of crude, making it a key export hub for Russian oil and the largest port in western Russia. The Kirishi refinery, operated by Surgutneftegaz (SNGS.MM) , opens new tab, processes about 17.7 million metric tons per year (355,000 bpd) of Russian crude, or 6.4% of the country's total. An oil company in Russia's Bashkortostan region will maintain production levels despite a drone attack on Saturday, regional governor Radiy Khabirov said. Pressure is mounting on Russia as U.S. President Donald Trump reiterated on Sunday that he is willing to impose sanctions on Russia but Europe has to act in a way that is commensurate with the United States. "Europe is buying oil from Russia. I don't want them to buy oil," Trump told reporters on Sunday. "And the sanctions ... that they're putting on are not tough enough, and I'm willing to do sanctions, but they're going to have to toughen up their sanctions commensurate with what I'm doing." Investors are also watching U.S.-China trade talks in Madrid that started on Sunday amid Washington's demands that its allies place tariffs on imports from China over its purchases of Russian oil. Last week, softer job-creation data and rising inflation in the U.S. raised concerns about economic growth in the world's largest economy and oil consumer even as the Federal Reserve is likely to cut interest rates during its September 16-17 meeting. https://www.reuters.com/business/energy/oil-holds-gains-investors-eye-impact-attacks-russian-energy-facilities-2025-09-15/

2025-09-15 00:29

Asian stock markets : Wall St futures flat, Nikkei closed for holiday Euro shows little reaction to Fitch downgrade of France Rate cuts seen from Fed, BoC, steady for BoE, BOJ SYDNEY, Sept 15 (Reuters) - Stocks got off to a quiet start in Asia on Monday ahead of an action-packed week that is seemingly certain to see the U.S. Federal Reserve resume its easing cycle, and perhaps leave the door wide open to a series of cuts. The Bank of Canada is also expected to cut rates by a quarter point this week, while China's central bank might trim one of its market rates amid a sluggish economy. The Bank of Japan and Bank of England also meet and are both seen on hold. Sign up here. Markets are 100% priced for an easing of 25 basis points from the Fed, taking its funds rate to 4.0-4.25%, with futures implying just a 4% chance of 50 basis points. Just as important will be Fed members' "dot plot" projections for rates and guidance from Fed Chair Jerome Powell on the extent and pace of any further easing. Futures already have 125 basis points of cut priced in, so anything less than dovish will disappoint investors. "After cutting policy rates 25bp, Chair Powell is likely to guide toward a series of further rate cuts, noting that downside risk to employment has increased further following recently softer jobs data," said Andrew Hollenhorst, chief U.S. economist at Citi, who sees reductions at each of the next five meetings. "We expect median "dots" to signal 75bp of rate cuts this year and for Chair Powell to indicate that rate cuts at upcoming meetings are likely given the shifting balance of risks." President Donald Trump continued his attacks on the central bank on Sunday, saying Powell was incompetent and hurting the housing market. A holiday in Japan made for a slow start, with some of the major currencies not trading at all and the euro showing scant reaction to Fitch's downgrade of France. The single currency was holding steady at $1.1727 , a short way from its recent top of $1.1780. The dollar was a fraction firmer on the yen at 147.77 , but well within the 146.22 to 149.13 range of the past month or so. The euro has been underpinned by a steady outlook for EU rates with the European Central Bank signalling it was in a "good place" on policy. A host of ECB officials are due to speak this week, including President Christine Lagarde. CHINA DATA DUMP EUROSTOXX 50 futures edged up 0.2%, while FTSE futures fell 0.2% and DAX futures were flat. S&P 500 futures and Nasdaq futures were both little changed. While the Nikkei (.N225) , opens new tab was shut, futures stood at 44,570 just below the cash close of 44,768, having climbed more than 4% last week. South Korea's market (.KS11) , opens new tab rose 0.4% to another record top after surging almost 6% last week on investor optimism over AI technologies and domestic market reforms. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) , opens new tab dipped 0.1%. Yields on 10-year Treasuries stood at 4.07%, having hit a five-month low of 3.994% last week as a run of soft labour data added to the case for aggressive Fed easing. The three-month average of nonfarm payrolls has slowed to 29,000, well below the 10-year trend of 145,000 and too low to stop the unemployment rate from rising over time. Data due this week includes retail sales, industrial output, housing starts and weekly jobless claims. China reports retail sales and industrial production later on Monday and forecasts are for little improvement in either. U.S. and Chinese officials concluded a first day of talks in Madrid on Sunday on their strained trade ties, and will resume later on Monday. Trump said he was still negotiating on the divestiture deadline for Chinese short-video app TikTok, while pressuring Washington's allies to place tariffs on imports from China over its purchases of Russian oil. The threat of further sanctions on Russia offered some support to oil prices, though concerns about slowing U.S. demand and increased production from OPEC were dominating for the moment. Brent was little changed at $67.01 a barrel, while U.S. crude firmed a fraction to $62.77 per barrel. Gold was down 0.1% at $3,639 an ounce , not far from last week's all-time high of $3,673.95. https://www.reuters.com/world/china/global-markets-wrapup-1-2025-09-15/

2025-09-15 00:09

CANBERRA/SYDNEY, Sept 15 (Reuters) - Australia will suffer extreme climate events more frequently - and often simultaneously - putting severe strains on health and emergency services, critical infrastructure and primary industries, a government climate report said on Monday. No Australian community will be immune from climate risks that will be cascading, compounding and concurrent, the National Climate Risk Assessment report said, with the government warning natural ecosystems and biodiversity will face major challenges. Sign up here. "While we can no longer avoid climate impacts, every action we take today towards our goal of net zero by 2050 will help avoid the worst impacts on Australian communities and businesses," Energy Minister Chris Bowen said in a statement. The report, the first comprehensive assessment of risks posed by climate change across Australia, shows the northern parts of the country, remote communities and outer suburbs of major cities will be particularly susceptible, Bowen said. "Australians are already living with the consequences of climate change today but it's clear every degree of warming we prevent now will help future generations avoid the worst impacts in years to come," Bowen said. A national adaptation plan was also released by Bowen, which he said would guide Australia's response to the report's findings. It would set out a framework for federal, state and local governments to better coordinate action, he added. Bowen said the government would announce soon the next step in its plans to lower carbon emissions and set "an ambitious and achievable 2035 target." Since elected in 2022, the centre-left Labor government has directed A$3.6 billion ($2.39 billion) into climate adaptation programs as it aims to cut carbon emissions by 43% by 2030 and reach net-zero emissions by 2050. The previous conservative government was considered by clean energy advocates as a global laggard for its emissions policies. ($1 = 1.5049 Australian dollars) https://www.reuters.com/sustainability/cop/australia-faces-cascading-climate-risks-government-report-says-2025-09-15/

2025-09-15 00:05

LONDON, Sept 15 (Reuters) - Britain and the United States will sign a deal to work together on boosting nuclear power during U.S. President Donald Trump's state visit this week, the British government said, helping secure investment to fund new plants. Britain's government has launched a major push to expand nuclear power in recent months, pledging to invest 14 billion pounds ($19 billion) in a new plant at Sizewell C and advancing plans for a Rolls-Royce (RR.L) , opens new tab unit to build the country's first small modular reactors (SMR). Sign up here. Trump arrives in Britain for a two-day visit on Tuesday, during which he and Prime Minister Keir Starmer will announce the nuclear power tie-up. The collaboration aims to speed up new projects and investments, including plans expected to be announced by U.S. nuclear reactor company X-Energy and Britain's Centrica (CNA.L) , opens new tab to build up to 12 advanced modular reactors in northeast England. An 11 billion pound ($15 billion) project to develop advanced data centres powered by SMRs in central England at the former Cottam coal-fired power station set to be announced by U.S. company Holtec International, France's EDF and real estate partner Tritax, is also on the cards, the statement added. "These major commitments set us well on course to a golden age of nuclear that will drive down household bills in the long run," Starmer said on Monday. Trump and Starmer discussed working more closely together on SMRs when they met at the U.S. president's golf resort in Scotland in July. "Today's commercial deals set up a framework to unleash commercial access in both the U.S. and UK," U.S. Energy Secretary Chris Wright said in the statement. The new tie-up will cover nuclear regulation, meaning if a reactor passes safety checks in one country, the other can use the findings to support its own checks, cutting licensing time to two years from three to four years at present. Commenting on its new partnership deal with X-Energy, Centrica's Group CEO Chris O’Shea said it would build a resilient, affordable, low-carbon energy system, while X-Energy's CEO J. Clay Sell said Hartlepool was the right place for it to scale its technology in Britain given its experienced workforce and local services. Holtec chair and CEO Kris Singh said its plan with EDF would create thousands of local jobs while drawing on the lessons from its Palisades project in Michigan, while Simone Rossi, CEO of EDF in the UK, said the plan would benefit energy security. In a related announcement, Rolls-Royce said it had entered the U.S. regulatory process for its SMR, paving the way for potential new jobs and investment in the U.S. Among the other investments expected to be announced is a deal for UK-based Urenco to supply an advanced type of low-enriched uranium to the U.S. market. ($1 = 0.7377 pounds) https://www.reuters.com/sustainability/climate-energy/britain-us-sign-nuclear-power-pact-during-trumps-visit-2025-09-15/

2025-09-14 23:47

Sept 15 (Reuters) - The UK government and industry are planning to jointly invest over 1.1 billion pounds ($1.5 billion) in the maritime sector, the UK government said on Monday. The investment will unlock growth and jobs in coastal communities across the UK, the government said, including in the engineering, green technology and construction sectors. Sign up here. The funding includes 700 million pounds of private investment in major UK ports and 448 million pounds of public investment to reduce emissions from UK shipping. It will be formally announced on September 15, the first day of London International Shipping Week. "We're committing almost half a billion to cut carbon emissions from shipping - steering us towards net zero by 2050," said UK Transport Minister Heidi Alexander. ($1 = 0.7379 pounds) https://www.reuters.com/world/uk/uk-government-industry-invest-over-11-billion-pounds-maritime-sector-2025-09-14/

2025-09-14 18:47

CAIRO, Sept 14 (Reuters) - Iraq's oil ministry signed a joint operation agreement with France's TotalEnergies, QatarEnergy LNG and Iraq's Basra Oil Company, the Iraqi prime minister's office said on Sunday. The deal is for the operation of the Artawi oilfield, as part of the Gas Growth Integrated Project. Sign up here. The GGIP, an initiative between QatarEnergy, TotalEnergies and Basra Oil Company, aims to improve Iraq's electricity supply, including by recovering flared gas at three oilfields and using the gas to supply power plants, helping to reduce Iraq's import bill. It also includes renewable energy projects. In a statement shortly after, QatarEnergy said the company's CEO and state minister for energy Saad al-Kaabi met Iraqi Prime Minister Mohammed Shia al-Sudani and TotalEnergies CEO Patrick Pouyanne on Sunday to announce the start of construction of the second phase of the Artawi oil field development project and the Common Seawater Supply Project. The CSSP is set to process and transport 5 million barrels of seawater per day to the main oil fields in southern Iraq, according to the Qatari statement. Separately, the Iraqi prime minister's office said TotalEnergies signed a deal with Turkey's ENKA construction company to establish a central oil and gas processing facility in Iraq with a daily production capacity of 210,000 barrels of oil and 163 million standard cubic feet of gas. TotalEnergies and China's Petroleum Engineering & Construction Corp signed an agreement to build a gas processing plant in southern Iraq with a total capacity of 600 million standard cubic feet per day, the prime minister's office said. The French company also reached a deal with South Korea's Hyundai Engineering and Construction to construct a seawater treatment plant in southern Iraq with a design capacity of 7.5 million barrels per day. In his remarks during the event, Sudani welcomed the growth of foreign investments in the country. https://www.reuters.com/sustainability/boards-policy-regulation/iraq-signs-joint-operation-agreement-with-frances-totalenergies-qatarenergy-lng-2025-09-14/