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Top News & Analysis Indiana

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  • Corn firm on spreading, lower crop ratings. Corn firmed as a weekly U.S. Department of Agriculture report showed a slight decline in the crop's condition, while wheat futures declined on weak demand and plentiful global supplies. Chicago Board of Trade November soybeans fell 13-3/ 4 cents, or 1.5 percent, to $9.03-1/ 4 a bushel by 10:50 a.m. CDT after earlier coming...

  • Aug 17- Canadian pipeline operator Enbridge Inc is rationing space for mid-month on its line 4/ 67 ex Kerrobert for August, according to a notice to shippers on Monday that was seen by Reuters. Enbridge restarted two key Canadian crude lines last week after they were shut following a crude oil release in Missouri on Aug 11. The discount on Western Canada Select...

  • *Weather pressure more than offsets USDA acreage update. "A lot of people are questioning whether USDA was correct in their assessment about the crops, and time will tell," said Jim Gerlach, president of A/C Trading in Fowler, Indiana. "Most people think the crop is going to be worse than what USDA said in the east, and maybe at, or better than, what they were saying in the...

  • *North Dakota crude production rises in June. "Producers don't seem to want to blink," said Gene McGillian, senior analyst at Tradition Energy in Stamford, Connecticut, commenting on the North Dakota data. September crude was up 21 cents at $42.44 a barrel at 11:55 a.m. EDT, after reaching $42.96 and having fallen to $41.35, the lowest front-month price since March...

  • UPDATE 8-U.S. crude oil steadies from 6-1/2-year low Friday, 14 Aug 2015 | 9:50 AM ET

    *Citi downgrades 2015 WTI price forecast to $48. *Weak yuan puts downward pressure on commodities- Goldman Sachs. U.S. crude hit an intraday low of $41.35 a barrel, its lowest since March 2009, before recovering to $42.86 by 1338 GMT, up 63 cents on the day.

  • *Lower yuan puts downward pressure on commodities- Goldman Sachs. LONDON, Aug 14- U.S. crude oil fell to its lowest in almost six-and-a-half years on Friday as huge stockpiles and refinery shutdowns added to concerns about global oversupply and slowing economies in Asia. U.S. crude was down 30 cents at $41.93 a barrel by 0945 GMT.

  • States from Alabama to West Virginia that oppose the Obama administration's Clean Power Plan filed for the stay in the U.S. Court of Appeals for the D.C. Circuit and asked for a ruling by Sept. 8, one year before states need to submit compliance plans to the EPA. "This rule is the most far-reaching energy regulation in the nation's history, and the EPA simply does not...

  • *Latest selloff triggered by big weekly build in Cushing. NEW YORK, Aug 13- U.S. oil prices tumbled more than 3 percent to a 6-1/ 2- year low under $42 a barrel on Thursday as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. The largest of those refineries- BP PLC's 413,500- barrel per day facility in Whiting, Indiana, also the...

  • NEW YORK, Aug 13- Retail gasoline prices in Midwest states have jumped as much as 33 cents in a week and could top $3 a gallon as soon as next week as the impact of an unexpected shutdown of a key unit at the region's biggest refinery shows up at the pump, motorist advocacy group AAA said on Thursday. While national prices for regular gasoline have been flat this week and...

  • *U.S. crude hit low just cents above March 2009 low of $42.03. NEW YORK, Aug 13- U.S. oil futures fell more than 2 percent on Thursday to trade near their lowest price in six and a half years, as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. Oil has fallen by nearly a third since late June, a decline that continued this week after...

  • The front-month in crude futures on the New York Mercantile Exchange was down $1.10, or 2.5 percent, at $42.20 a barrel by 10:55 a.m. EDT. The session low was $42.07, just above the year's bottom of $42.03 hit in March. Traders said repairs at BP Plc's refinery Whiting, Indiana that could last at least a month, idling some 240,000 barrels per day of crude distillation.

  • *U.S. refinery problems raise Cushing oil stock concerns. *China's economy expected to weaken further. Benchmark North Sea Brent crude oil fell by 25 cents to $49.41 a barrel by 1315 GMT after hitting a session high of $50.39.

  • *Iraq to export near record volumes of Basra crude. *China's economy expected to weaken further. *U.S. refinery issue raises Cushing oil stock concerns.

  • NEW YORK, Aug 12- Oil ended up on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown deflated prices. "The market needed a big drawdown to reverse the current trends and didn't get it," said Chris Jarvis, analyst at...

  • UPDATE 9-Oil steady on U.S. stockpile decline, dollar drop Wednesday, 12 Aug 2015 | 12:35 PM ET

    NEW YORK, Aug 12- Oil prices steadied on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown sank prices. "The market needed a big drawdown to reverse the current trends and didn't get it," said Chris Jarvis, analyst at...

  • "The size of the increase was a surprise- it is a slap in the face," said Rich Nelson, analyst at Allendale Inc.. Corn and soybean futures fell sharply after the report was released, with Chicago Board of Trade new-crop November soybean futures sliding 5.8 percent to its lowest since mid-June. Corn production was seen at a 13.686 billion bushels, with average yield...

  • Record soybean yields were forecast in eight states, including Minnesota and Nebraska. Harvested soybean acres were seen at a record 83.549 million acres, but down from the USDA's previous outlook. The USDA left its projection for corn-harvested acres unchanged at 81.101 million.

  • *China oil outlook hit by yuan move, non- OPEC output upped. NEW YORK, Aug 11- U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand in the No. 2 consumer and a new OPEC estimate showed non-member producers are likely to keep output high despite low prices. A BP refinery outage in Whiting, Indiana,...

  • *OPEC raises 2015 non-member production forecast. NEW YORK, Aug 11- U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand from the No.2 consumer, and a new OPEC estimate showed non-member producers were likely to keep output high despite low prices. "It's time to sell any and all rallies," said...

  • HOUSTON, Aug 11- Heavy damage to the largest crude distillation unit at BP Plc's 413,500- barrel-per-day Whiting, Indiana, refinery will require at least a month to repair, sources familiar with the refinery's plans said on Tuesday. BP spokesman Scott Dean declined to discuss operations at the oil major's largest refinery in the United States.