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CNBC Utilities Page Wires

  • SINGAPORE, June 21- Chicago wheat futures rose for a second session on Thursday with prices underpinned by dry weather reducing output in key exporters Russia and Australia. *The Chicago Board of Trade wheat futures are being supported by dry weather cutting production in Russia, the world's biggest exporter, and Australia, the No.4 supplier.

  • *OPEC to meet in Vienna on June 22 to agree output policy. *Iran previously resisted any OPEC output rise. SINGAPORE, June 21- Oil prices dipped on Thursday as Iran signaled it could be won over to a small rise in OPEC crude output, likely paving the road for the producer cartel to agree a supply increase during a meeting on June 22.

  • BEIJING, June 20- China will use targeted cuts in banks' reserve requirement ratios and other policy tools to boost credit support for small firms and keep economic growth steady, state radio on Wednesday quoted a cabinet meeting as saying. From September 1 until the end of 2020, interest income from credit up to 5 million yuan for eligible small firms and...

  • CARACAS, June 20- Venezuela on Wednesday tripled its minimum wage to 3 million bolivars per month, equivalent to just $1.14 at the black market exchange rate, as the crisis-ridden OPEC nation struggles under hyperinflation. President Nicolas Maduro in a televised broadcast said workers would also receive 2.2 million bolivars in meal tickets, taking total...

  • *Oil eases ahead of OPEC meeting on risk of expanded supply. SYDNEY, June 21- Asian shares were subdued on Thursday as a lull in the Sino-U.S. trade tussle helped calm nerves enough for the Nasdaq to reach a record high, while tensions in the oil market grew ahead of an OPEC meeting that may expand crude supply. MSCI's broadest index of Asia-Pacific shares outside...

  • TOKYO, June 21- The dollar hovered near an 11- month high against a basket of currencies on Thursday, supported by a rise in U.S. yields, while the pound struggled at its lowest level since November 2017 ahead of Bank of England's monetary policy decision. Buoying the greenback, long-term Treasury yields bounced back from three-week lows on Wednesday as risk...

  • *China slaps 25 pct import tax on U.S. cotton from July 6. MUMBAI/ BEIJING, June 20- India's cotton shipments to China could grow five-fold to 5 million bales in the next crop year as exporters rack up orders amid a trade war that is forcing the world's top consumer to look for other sources of supply. "In the last few weeks we are getting good inquiries from China for the...

  • LANGKAWI, Malaysia, June 20- Former Malaysian prime minister Najib Razak sat down with Reuters reporters for his first sit-down interview since his shock May 9 election defeat, and talked extensively about the 1 MDB scandal, the hundreds of luxury handbags and other assets seized from him by the Malaysian authorities, and how he is coping with the investigation.

  • CARACAS, Venezuela— Venezuela's president says he is again raising the minimum wage, though it still will be below the equivalent of $2 a month as inflation soars in the crisis-stricken country. President Nicolas Maduro made the announcement Wednesday before a cheering crowd of workers. Despite having the world's largest proven oil reserves, Venezuela is in...

  • Federal Reserve Today in Washington. 21- Jun France Index-linked Securities auction 21- Jun Japan Auction of 5- year government bonds 21- Jun Spain Bond auction 22- Jun Japan 3- month discount bill auction 26- Jun Japan Auction of 20- year government bonds 26- Jun United Kingdom 1 3/ 4% Treasury Gilt 2037 26- Jun United States Sale of 2- year notes 27- Jun Italy...

  • BUDAPEST- The National Bank of Hungary will present its quarterly inflation report, with updated forecasts on key macroeconomic indicators- 0800 GMT. SYDNEY- Speech by Tony Richards, RBA head of payments policy, at the Australian Business Economists event on cryptocurrencies. BUENOS AIRES- Central Bank of Argentina releases monetary policy statement.

  • LUXEMBOURG CITY- Finance ministers of euro zone countries meet in Luxembourg to decide possible new debt relief measures for Greece, the size of the cash send-off for Athens when it ends its third bailout on Aug. 20 and how to ensure Greece will not reverse already agreed reforms once the bailout is over- 1500 GMT. LONDON- British Finance Minister Philip Hammond...

  • LUXEMBOURG CITY- Finance ministers of euro zone countries meet in Luxembourg to decide possible new debt relief measures for Greece, the size of the cash send-off for Athens when it ends its third bailout on Aug. 20 and how to ensure Greece will not reverse already agreed reforms once the bailout is over- 1500 GMT. LONDON- British Finance Minister Philip Hammond...

  • WASHINGTON, June 20- A scheduled trip to West Virginia by executives from China Energy Investment Corp to discuss a planned $83.7 billion investment in the state has been cancelled, the latest victim of a growing trade war between the United States and China. Brian Anderson, director of the West Virginia University Energy Institute, told Reuters on Wednesday...

  • Oil in Midland, Texas now sells for about $6 a barrel less than the U.S. benchmark, compared with $1.50 less in January. Halcon Resources Corp this week said it would remove a drilling rig in the Permian Basin next month because of "lower near-term realized oil prices in the Midland market," referring to the regional price. Operators who lack guaranteed space on...

  • MSCI said on Wednesday that it would reclassify Argentina as an emerging market and begin including Saudi Arabia in that classification, sharply broadening the investor base for both countries in a move that could be supportive of their equity markets. For Argentina, the announcement came as a welcome respite from months of dismal economic news.

  • WASHINGTON, June 20- The U.S. Commerce Department is investigating recent steel price hikes to determine whether some market participants are "illegitimately profiteering" from new tariffs, Commerce Secretary Wilbur Ross said on Wednesday. U.S. benchmark hot-rolled steel coil June futures prices were quoted at $902 per ton on the New York Mercantile...

  • FORT WORTH, Texas— American Airlines says a regional affiliate should run close to a normal operation Thursday after canceling 2,750 flights in the past week because of a computer problem. Spokeswoman Katie Cody said PSA Airlines stabilized its computer systems but faced delays getting planes and crews back in place., According to FlightStats, PSA canceled...

  • OTTAWA, Ontario— Canadian Prime Minister Justin Trudeau said Wednesday he can't imagine President Donald Trump will make good on his threat to impose new tariffs on Canadian autos entering the United States because it would amount to a self-inflicted wound on the U.S. economy. Trump is considering using the same controversial national security clause that...

  • *BoE's decision due to be published at 1100 GMT. LONDON, June 21- The Bank of England may lay some groundwork on Thursday for an August interest rate rise, if it judges the economy is now turning a corner after an unusually weak start to the year. At the end of last year Britain was the slowest-growing economy among the G7 group of rich nations, as businesses held back...