News 

EIA reports a rise in U.S. crude-oil supplies for the first time in 5 weeks

“The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 1.1 million barrels for the week ended Sept. 13” writes Markets Commodities Reporter for marketwatch.com. The S&P Global Platts survey revealed expectations for a supply decline of 800,000 barrels for gasoline and an increase of 300,000 barrels for distillates. Source: marketwatch.com

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Oil steps back on Saudi supply reassurance, focus shifts to Fed

“Brent crude futures dipped 0.1% to $64.50 a barrel, having conceded more than 60% of their gains made after the weekend attack on Saudi oil facilities” writes Midwest Communications Inc for 95kqds.com. Still, heightened geopolitical tensions underpinned oil as well as some safe-haven assets such as U.S. bonds.That prompted the New York Fed to conduct its first repo operation in more than a decade to inject funds to stressed money markets.TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month’s…

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Oil extends losses after Saudi Arabia to restore output by end-September

“SINGAPORE (Reuters) – Oil prices extended their losses from the previous session on Wednesday, after Saudi Arabia’s energy minister said the Kingdom will restore lost oil production by the end of the month” writes Midwest Communications Inc for 95kqds.com. Saudi Aramco has informed some Asian refiners that it will supply full allocated volumes of crude oil in October, albeit with some changes.Brent crude oil futures fell 36 cents, or 0.6%, to $64.19 a barrel by 0005 GMT, after tumbling 6.5% the previous session.Still, risks to oil prices remained after a…

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Oil recedes on Saudi supply reassurance, investor focus shifts to Fed

“U.S. Treasury yields slipped ahead of an expected interest rate cut by the Federal Reserve at its two-day policy meeting on Wednesday” writes Midwest Communications Inc for 95kqds.com. While a 25-basis point rate cut is seen as near-certain, investors look to the statement and economic projections from Fed policy makers, given signs of deep disagreements among them.TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S. interest…

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Senators push for U.S. to expand mining for electric vehicle supply chain

“WASHINGTON (Reuters) – U.S. senators voiced bipartisan support on Tuesday for the expansion of domestic mining and minerals recycling, part of a push to jumpstart the country’s electric vehicle supply chain and offset China’s rising dominance in the fast-growing space” writes Midwest Communications Inc for 95kqds.com. “China is consolidating control of the entire supply chain for clean technologies,” Senator Lisa Murkowski, the Republican chair of the Senate’s Energy and Natural Resources Committee, said at a hearing. “The United States is falling behind … and allowing that to happening is a…

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Apple awards iPhone supplier Corning $250 million from U.S. manufacturing fund

“(Reuters) – Apple Inc on Tuesday said it would award Corning Inc $250 million from a $5 billion fund dedicated to U.S. advanced manufacturing” writes Midwest Communications Inc for 95kqds.com. Counting $200 million in 2017, Corning has now received $450 million from Apple’s fund.In the past, Apple has made long-term supply agreements https://www.reuters.com/article/us-apple-finisar/apple-grants-390-million-to-finisar-to-boost-laser-chip-production-idUSKBN1E71EA with its vendors in which it provides upfront cash to lock in supplies of parts and better prices. Source: 95kqds.com

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Oil slips as market assesses fallout from Saudi attack

“Oil prices slid on Tuesday, although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities that halved the kingdom’s output and prompted a price spike not seen in decades” reports cnbc.com. Saudi Arabia is the world’s top oil exporter and has been the supplier of last resort for decades.The fallout in Asia, the largest buyer of Saudi crude, has been varied, with some refineries expected to receive their allocated volumes for October, and other importers being told of delays…

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Crisp launches with $14.2 million to cut food waste using big data

“Cutting waste across the food chain, in particular, is a key focal point for startups and investors alike” writes Paul Sawers for venturebeat.com. Food waste is such a problem across the world that some countries — including France and Italy — have laws in place to prevent supermarkets from discarding excess produce. We created Crisp to transform the food value chain.”. So Crisp is looking to help by crunching big data to unlock insights.Roughly one-third of food produced around the world each year ends up in a landfill, according to…

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News Oil 

Explainer: How the Saudi attack affects global oil supply

“Even before the Saudi attack, spare capacity was falling” writes Midwest Communications Inc for 95kqds.com. But the attack also constrained Saudi Arabia’s ability to use the more than 2 million bpd of spare oil production capacity it held for emergencies.WHAT HAPPENS IF THERE IS ANOTHER SUPPLY DISRUPTION? With no spare capacity, future disruptions would cause oil prices to rise.The attack cut 5.7 million barrels per day (bpd) of Saudi crude output, over 5 percent of the world’s supply.If the Saudi outage looks like it will be prolonged and oil prices…

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Farming subsidies destroying the world, says report

“It analysed subsidies in 51 nations and includes most, but not all, of global subsidies” writes Damian Carrington for theguardian.com. The public is providing more than $1m per minute in global farm subsidies, much of which is driving the climate crisis and destruction of wildlife, according to a new report.The report rejects the idea that subsidies are needed to supply cheap food.But redirecting the subsidies to storing carbon in soil, producing healthier food, cutting waste and growing trees is a huge opportunity, it says. Source: theguardian.com

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