2025-08-18 18:51

Aug 18 (Reuters) - Private investment firm Raisa Energy is selling a package of oil and gas wells across numerous U.S. shale basins that may fetch around $1.5 billion, people familiar with the matter said. The sale, which is in its early stages, is not guaranteed and the final price could fluctuate depending on market conditions and other factors, these sources said, asking not to be named because the process is confidential. Sign up here. TPH, the energy-focused investment banking arm of boutique advisor Perella Weinberg Partners (PWP.O) , opens new tab, is advising Raisa on the effort, they added. Raisa did not respond to a comment request. Perella Weinberg declined comment. The assets being marketed by Raisa are known in the oil and gas industry as non-op, meaning the owner contributes a portion of the drilling costs and other expenses and gets a share of the revenue from the sale of hydrocarbons in return. Meanwhile, another producer takes charge of the wells' day-to-day operation. Such non-op positions are attractive to energy producers that specialize in such assets, or financial investors who can pocket steady returns without needing operating knowledge. Roughly half of the production from the Raisa assets is natural gas, with total net production around 63,000 barrels of oil equivalent per day, one of the sources added. https://www.reuters.com/legal/litigation/raisa-energy-puts-15-billion-us-oil-gas-assets-up-sale-sources-say-2025-08-18/

2025-08-18 18:36

Aug 18 (Reuters) - Elon Musk's Starlink was back up for users in the U.S. after a brief outage on Monday, according to tracking website Downdetector.com. The outage eased to over 2,800 users reporting issues with the service as of 2:13 p.m. ET, from its peak of over 43,000 incidents, according to the website, which tracks outages by collating status reports from multiple sources. Sign up here. Downdetector's numbers are based on user-submitted reports. The actual number of affected users may vary. Starlink parent, SpaceX, did not immediately respond to a Reuters request for comment. https://www.reuters.com/world/us/starlink-back-up-after-brief-outage-us-downdetector-shows-2025-08-18/

2025-08-18 18:30

Erin is the first hurricane of 2025 Atlantic season Coastal flooding possible in North Carolina's Outer Banks from late Wednesday, NHC says Erin will likely maintain its force as a dangerous major hurricane, NHC says Aug 18 (Reuters) - Residents in the Bahamas and Turks and Caicos braced on Monday for Hurricane Erin, a dangerous Category 4 storm and the first of the Atlantic season, after it strengthened over the weekend while sweeping past Caribbean islands. While Erin is not on track to make direct landfall and has yet to cause major damage, its growing size and strength are threatening rough seas and have prompted some evacuation orders in parts of North Carolina, on the U.S. East Coast. Sign up here. "Erin's already large size and intensity are acting like a giant plunger on the sea surface," AccuWeather senior meteorologist Alex Sosnowski said in a report. Sosnowski said Erin was among the fastest-strengthening storms on record after it intensified from a tropical storm to a Category 5 hurricane, the highest level of the Saffir-Simpson scale, in just over 27 hours. It makes 2025 the fourth straight Atlantic season with at least one Category 5 storm. The U.S. National Hurricane Center said Erin, now a Category 4 storm, was likely to maintain its force as a dangerous major hurricane through the middle of the week, but avoid contact with Bermuda or the U.S. coast. As of Tuesday at 0000 GMT, the storm was packing maximum sustained winds of 130 mph (210 kph) as it passed east of the Bahamas. The Air Force Reserve and the National Oceanic and Atmospheric Administration hurricane hunters were currently investigating the system, the NHC said. The storm's strength fluctuated over the weekend, rising on Saturday to Category 5 before dropping back to Category 4 late on Sunday. It is the fifth named storm of the 2025 Atlantic season and the first to reach hurricane status. The last Atlantic storm to reach Category 5 intensity was Hurricane Milton in October last year. In Turks and Caicos, an overseas British territory, authorities suspended public services on its largest island and told residents in vulnerable areas to pack in case of evacuation. The Bahamas' meteorology department said the islands' southeast, as well as Turks and Caicos, were experiencing tropical storm conditions, and warned that boats should not go out to sea until the end of the week. "The seas could become extremely rough and dangerous during the swells," it said. Kate Williamson, a Bahamian southeastern district administrator, told local media that the small population living on the eight-square-mile (21-sq-km) island of Long Cay should move to the mainland. NORTH CAROLINA Even though Erin's eye was forecast to stay well offshore, tropical storm conditions and coastal flooding were possible in North Carolina's Outer Banks, beginning late Wednesday, the NHC said. Erin could also produce life-threatening surf and rip currents along much of the U.S. East Coast. A Tropical Storm Watch has been issued from Beaufort Inlet to Duck, North Carolina, including Pamlico Sound, while a storm surge watch is in effect for Cape Lookout to Duck, North Carolina, the forecaster said. A Storm Surge Watch means there is a possibility of life-threatening inundation from rising water moving inland from the coastline during the next 48 hours. Evacuation orders have been issued for parts of two North Carolina coastal counties, with forecasters predicting waves up to 20 feet (6.1 meters) and dangerous rip currents on Wednesday and Thursday. Two counties - Dare and Hyde - ordered tourists and residents to leave flood-prone barrier islands of Hatteras and Ocracoke. While the narrow islands have just a few hundred year-round residents, about 2.7 million tourists flock to the Outer Banks each year, mostly during the summer, according to the U.S. National Park Service. County officials warned anyone who might consider staying put during the storm that they should not count on getting any help from authorities, due to inaccessible roads. At the Atlantic Inn on Hatteras Island, owner Holly Andrzejewski said that she, her husband and a few employees were going to ride out the storm and keep a watch on their 10-bedroom inn. "Visitors are supposed to leave today," she told Reuters by telephone on Monday and residents are supposed to leave tomorrow. But we're staying. We want to safeguard our property." On nearby Roanoke Island, also in Dare County, no evacuation orders had been given as of late Monday, but that could change, said innkeeper Lee Brickhouse of the Roanoke Inn. "Some guests are rescheduling, and we're just holding our breath that the worst won't happen," Brickhouse said. https://www.reuters.com/business/environment/hurricane-erin-could-bring-dangerous-seas-it-grows-near-bahamas-2025-08-18/

2025-08-18 18:16

HOUSTON, Aug 18 (Reuters) - A U.S. judge on Monday authorized a court officer overseeing an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum to receive and negotiate improved bids this week before confirming or changing the winner recommendation he made last month. A final winner recommendation in the complex court-organized auction is expected to be submitted by the end of this month, Judge Leonard Stark said in a hearing. Sign up here. https://www.reuters.com/legal/litigation/us-court-reopens-citgo-parent-auction-bids-winner-be-recommended-this-month-2025-08-18/

2025-08-18 18:11

Trump says U.S. would "help out" Europe in providing security to Ukraine Palladium gains after hitting lowest level since July 10 Powell to speak at Fed's annual conference, scheduled for August 21–23 Aug 18 (Reuters) - Gold prices were largely steady on Monday, as investors focused on U.S. President Donald Trump's meeting with Ukrainian and European leaders, and the Federal Reserve's annual symposium in Jackson Hole this week. Spot gold was marginally down at $3,333.32 per ounce at 01:42 p.m. ET (1742 GMT), after hitting its lowest level since August 1 earlier in the session. Sign up here. U.S. gold futures for December delivery settled 0.1% lower at $3,378. The U.S. dollar gained 0.3%, making greenback-priced bullion more expensive for other currency holders. Trump said the U.S. would "help out" Europe in providing security for Ukraine as part of any deal to end Russia's war in Ukraine, as he and President Volodymyr Zelenskiy began a hastily arranged White House meeting to discuss a path to peace. The European leaders will meet with Trump afterwards in the White House's East Room at 3 p.m. EDT (1900 GMT), according to the White House. The meeting between Trump and Zelenskiy follows Trump's meeting with Putin on Friday, where the two leaders agreed to pursue a peace deal without implementing a ceasefire. "There was not much reaction in gold to the Putin-Trump meeting. I think we'll continue in this price range. The next inflection point is the Federal Reserve (conference)," said Marex analyst Edward Meir. Minutes from the U.S. central bank's July policy meeting are due on Wednesday, ahead of the Fed's annual conference in Jackson Hole, Wyoming, scheduled for August 21–23. Fed Chair Jerome Powell is expected to speak at the event. Investors will be watching out for Powell's remarks on the economic outlook. While markets have already priced in a 25 basis point cut, there's an outside chance of a 50 basis point reduction, which could drive gold prices higher, Meir said. Gold tends to perform strongly in environments with low interest rates and heightened uncertainty. Elsewhere, spot silver rose 0.1% at $38.02 per ounce, while platinum fell 0.1% to $1,334.10. Spot palladium gained 1% to $1,122.86 after falling to its lowest level since July 10 earlier in the session. https://www.reuters.com/world/china/gold-prices-steady-investors-assess-trumpzelenskiy-meeting-2025-08-18/

2025-08-18 17:48

BRASILIA, Aug 18 (Reuters) - Brazil's central bank is still assessing whether the benchmark interest rate at 15% is appropriate to bring inflation down to its 3% target, economic policy director Diogo Guillen said on Monday. Policymakers kept rates unchanged in late July at a near 20-year high after 450 basis points in hikes since last September. They signaled borrowing costs would remain steady for a "very prolonged" period. Sign up here. Speaking at an event hosted by Warren Investimentos, Guillen stressed that the guidance signaled more rate holds. "We are still evaluating whether this is the appropriate rate to bring inflation to target," he said. "Once that rate is determined, it will remain unchanged for a very long period." Guillen acknowledged recent downside surprises in consumer prices readings, but said the key issue with inflation is it remains above target, with expectations and projections also unanchored from the official goal. Prices were up 5.23% in the 12 months through July, down from 5.35% in the previous month and below forecasts. Guillen emphasized economic growth is losing steam, as expected following the central bank's tightening stance. https://www.reuters.com/world/americas/brazil-central-bank-still-assessing-if-15-interest-rate-is-appropriate-says-2025-08-18/