oil

Wheat markets were on alert Friday as traders assessed the impact of a major drone strike on Russia’s Black Sea port of Novorossiysk, a critical transit point for grain and crude oil exports,

The trade issues of steel, aluminum, and energy dominated recent discussions between Canada and the U.S. in Washington D. C.

There have been rumblings of separation within the Canadian province of Alberta for decades.  With the re-election of the federal Liberal Party, those rumbles have turned to angry shouts.  Polls suggest that between 25%-30% of Albertans would prefer their province to be an independent sovereign state.  Some of...

In less than a year of full operation, Canada’s Trans Mountain Pipeline to the Pacific has opened and expanded oil markets into Asia while reducing Canadian crude to the U.S. Gulf Coast.  The biggest buyer, China, is importing record amounts of Canadian crude after slashing its purchases of American oil by nearly 90% recently due to escalating trade and tariff tensions.   C...

The Interior Department may see more lawsuits after announcing it would no longer require the Bureau of Land Management to create an environmental impact statement for more than 3,200 oil and gas leases in seven states. The Biden administration started work on the review four days before President Trump took office in January...

Over the weekend, President Donald Trump kept his promise to slap 25% tariffs against, Canada and Mexico, as well as an additional 10% against China.  Those tariffs became official Saturday, after the President signed an Executive Order Friday afternoon.  The pre...

A number of birds, some of them dead, found covered in oil between Lincoln City OR and Long Beach WA

Oil prices have inched a little higher in the past week, rebounding from the lowest prices we’ve seen in roughly a year.  A barrel of West Texas was up roughly $2 in Monday’s trade, hovering around $75.  And while that is higher week-over-week, Patrick DeHaan with GasBuddy noted that’s still one of the lowest prices we’ve seen in 2022.  DeHaan noted the recent swing higher in o...

Russia resumed its blockade of grain shipments exiting Ukraine on Sunday after announcing the country is pulling out of the grain deal brokered, in part, by the United Nations.  The Hagstrom Report said the amount of grain available for global markets and possible price increases are concerns getting raised around the world.   ...

According to the USDA, farm production expenses hit $392.9 billion in 2021, a 7.3% year-over-year increase ($3.66.2 billion in 2020).  The four biggest expenditures totaled $189.4 billion, just over 48% of all expenses last year.  Those four are feed at 16%, farm services at 11%, livestock, poultry, and related expenses at 10%, with labor accounting for 9.4%. The total fu...