Commodities & Futures News

4/4Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/4By Joseph Menn and Stephanie Kelly -Colonial Pipeline began to slowly restart the nation's largest fuel pipeline network on Wednesday after a ransomware attack shut the line, triggerin

. Oil Eases as Investors Assess Pipeline Restart, Lower Stockpiles -- Oil edged lower after a four-day gain as a key U.S. pipeline restarted, and traders assessed signs a global glut has been drained.West Texas Intermediate fell 0.6%, after closing on Wednesday at a two-month high. The Colonial Pipeline -- a key source of gasoline and diesel for the East Coast -- returned to serv

4/4Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/4By Joseph Menn and Stephanie Kelly -Colonial Pipeline began to restart the nation's largest fuel pipeline network on Wednesday but it will take days to get back to normal after a ranso

By Tom Polansek -More than 400 barges were delayed on the lower Mississippi River on Wednesday after a bridge crack prompted the U.S. Coast Guard to halt vessel traffic on a portion of the waterway crucial for shipping crops to export markets. The disruption hit as strong demand for U.S. corn and soybeans has tightened inventories and pushed crop prices to their highest in more than eigh

. A truck passes holding tanks at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S., May 10, 2021. /Hussein WaaileBy Joseph Menn and Christopher Bing WASHINGTON -Colonial Pipeline does not plan to pay the ransom demanded by hackers who have encrypted its data, according to sources familiar with the company's response on Wednesday. Col

4/4Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/4By Stephanie Kelly -Colonial Pipeline said on Wednesday it has begun to restart the nation's largest pipeline network, six days after a ransomware attack prompted it to shut the line,

. By Barani Krishnan and Liz — Oil markets edged higher for a fourth day in a row on Wednesday as the gasoline price at U.S. pumps hit seven-year highs of around $3 per gallon and the government reported that inflation was roaring at levels last seen in 2008.The combined concerns over tight fuel supplies and price pressures to the upward made traders almost completely ignore a smaller-th

. A Tiny Fund’s Assets Jump 1,700% This Year Thanks to Carbon Boom -- This year’s surge in carbon prices has turned a little-known ETF into one of the fastest-growing products in the $6.2 trillion industry.In just five months, the KraneShares Global Carbon ETF (KRBN) has seen its assets jump more than 1,700% to $311 million, according to data compiled by . The exchan

4/4Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/4By Stephanie Kelly -Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and Washingt

. A couple fills up multiple 5 gallon gas tanks at a Wawa gas station, after a cyberattack crippled the biggest fuel pipeline in the country, run by Colonial Pipeline, in Tampa, Florida, U.S., May 12, 2021. /Octavio Jones By Chris Sanders WASHINGTON -The U.S. Consumer Product Safety Commission on Wednesday warned Americans to not fill plastic bags with gasoline as fuel shor

. U.S. President Joe Biden delivers remarks on the April jobs report from the East Room of the White House in Washington, U.S., May 7, 2021. /Jonathan Ernst/File PhotoWASHINGTON President Joe Biden held a "productive" meeting for nearly two hours with Republican and Democratic congressional leaders on Wednesday to identify areas where they could collaborate, e

. By Barani “What inflation?” — Gold bulls might be asking on Wednesday after a breakout in US consumer prices for April led to a familiar rally in the dollar and bond yields versus the yellow metal.Gold slipped further from the target of longs in the market to breach $1,850, after coming tantalizingly close to the resistance several times since last week upon its return to the $1,

The U.S Coast Guard on Wednesday said it closed a portion of the lower Mississippi River near I-40 Bridge in Memphis, Tennessee to vessel traffic on Wednesday due to a crack near the bridge. "There are currently 16 vessels with a total of 229 barges in the queue," the Coast Guard said in a release.

3/3Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/3By Stephanie Kelly -Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline

. Transportation Secretary Pete Buttigieg makes comments at Union Station in Raleigh, N.C., Friday, April 30, 2021. Gerry Broome/Pool via REUTERSBy Jeff Mason WASHINGTON U.S. Transportation secretary Pete Buttigieg said the Biden administration is working around the clock to help deal with gas shortages and restore operations of the Colonial Pipeline, including movin

2/2Reuters. People fill up their gas tanks at a Wawa gas station, after a cyberattack crippled the biggest fuel pipeline in the country, run by Colonial Pipeline, in Tampa, Florida, U.S., May 12, 2021. /Octavio Jones2/2By Rich McKay ATLANTA Drivers in the U.S. Southeast formed lines on Wednesday to fill up tanks from the dwindling number of retail gas stations with fuel to sell,

. By Liz -- U.S. oil stockpiles dropped by less than expected in the latest week, the Energy Information Administration said on Wednesday.Crude oil inventories fell 427,000 barrels last week, compared with analysts' expectations for a draw of 2.817 million barrels.Distillate stockpiles, which include diesel and heating oil, fell 1.733 million barrels in the week against expectations for a

3/3Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/3By Stephanie Kelly -Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline

. White House Press Secretary Jen Psaki speaks during a press briefing at the White House in Washington, U.S., April 26, 2021. /Evelyn HocksteinWASHINGTON The U.S. Transportation Department has completed its assessment of what ships are available to carry petroleum products from the Gulf to the Eastern Seaboard and is ready to review any Jones Act waiver reque

. Holding tanks are seen in an aerial photograph at Colonial Pipeline's Dorsey Junction Station in Woodbine, Maryland, U.S. May 10, 2021. /Drone BaseBy Timothy Gardner WASHINGTON The shutdown of the biggest U.S. fuel pipeline by a ransomware attack highlights a systemic vulnerability: Pipeline operators have no requirement to implement cyber defenses. The U.S.

. Vehicles line up for fuel at a gas station in Sumter, South Carolina, U.S. on May 11. Photographer: Micah Green/ -- U.S. national average retail gasoline prices have risen above $3 a gallon for the first time since 2014, after a cyberattack shut operations at Colonial Pipeline, the main supply link for the East Coast.The nation’s average retail price is now at $3.0

2/2Reuters. A gas pump is seen hanging from the ceiling at a petrol station in Seoul June 27, 2011. /Jo Yong-Hak2/2By Noah Browning LONDON Demand for oil will exceed the output of top producers due to progress in vaccinating the world against COVID-19, the International Energy Agency (IEA) said on Wednesday. "The anticipated supply growth through the rest of this yea

2/2Reuters. A well head and drilling rig in the Yarakta oilfield, owned by Irkutsk Oil Company (INK), in the Irkutsk region, Russia, March 11, 2019. /Vasily Fedosenko2/2By Shu Zhang and Sonali Paul SINGAPORE -Oil prices rose on Wednesday after a drop in U.S. crude inventories reinforced OPEC's robust demand outlook, while the market awaited fresh updates on the Colonia

3/3Reuters. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, New Jersey, U.S. in an undated photograph. Colonial Pipeline/Handout via ./File Photo2/3The top U.S. fuel pipeline, which has been disabled by a cyberattack for six days, sent workers to manually release some stored supplies on Wednesday as fuel shortages across the Sou

2/2Reuters. Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021. /Andrew Kelly2/2WASHINGTON -U.S. environmental regulators issued emergency fuel waivers on Tuesday to help alleviate shortages in reformulated gasoline in 12 states and the District of Columbia as supplies tighten five days