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19:19
UAE Energy Minister: Exiting OPEC Would Have Limited Impact on the Market
Mazrouei told CNN reporters that the UAE's announcement to withdraw was made at the right time and would not have a significant impact on the oil market and prices because passage through the Strait of Hormuz is restricted, and these restrictions also apply to the UAE. This decision will help alleviate pressure on prices.
19:19
Uganda's Minister of Energy and Mineral Development announced on Tuesday that the country will launch a new round of oil exploration license bidding in the next fiscal year.
This East African country is expected to begin commercial crude oil production later this year and hopes to expand its resource base through potential new discoveries.
19:10
Chicago wheat futures rose about 4.8%
CBOT corn futures rose by 1.33% to $4.7550 per bushel. CBOT wheat futures increased by 4.78% to $6.5825 per bushel. CBOT soybean futures fell by 0.10% to $11.9025 per bushel, soybean meal futures rose by 0.20%, and soybean oil futures increased by 1.07%. CBOT lean hog futures fell by 0.17%, live cattle futures rose by 1.77%, and feeder cattle futures increased by 1.30%.
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