Energy Update
KATOWICE, Poland, July 26 (Reuters) - Poland has lined up a
third investor for one of its troubled state-run coal mining
groups, KHW, to limit the amount of money Weglokoks and Enea
need to invest, the country's deputy energy minister
said on Tuesday.
LONDON, July 26 (Reuters) - Hedge funds and other money
managers have begun to amass another large short position in
futures and options contracts linked to the price of crude oil.
July 26 (Reuters) - Diversified U.S. miner and oil producer
Freeport-McMoRan Inc reported a smaller quarterly loss
as aggressive cost cutting helped counter a near 20 percent drop
in copper prices.
July 26 (Reuters) - U.S. refiner Valero Energy Corp's
quarterly profit fell nearly 40 percent due to lower
refining margins as elevated gasoline stockpiles offset healthy
demand.
NEW YORK, July 26 (Reuters) - U.S. oil prices topped $50 a
barrel in June, boosting optimism a two-year price rout might
end. Six weeks later, the long hoped for recovery has yet to
take hold.
SHANGHAI, July 26 (Reuters) - Chinese iron ore miners have
called for an anti-dumping investigation into imports of the
steelmaking raw material from top suppliers Australia and
Brazil.
BEIJING, July 26 (Reuters) - China's top steelmaking
province Hebei plans to cut more than 31 million tonnes of
combined iron and steel production capacity in 2016, the
official Xinhua news agency reported on Tuesday.
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