2025-08-12 07:26
JAKARTA, Aug 12 (Reuters) - PT Kilang Pertamina Internasional, the refinery unit of Indonesian state energy company Pertamina, has started its first shipments of sustainable aviation fuel made partly from used cooking oil, the company said on Tuesday. The SAF will be used in a flight from the capital Jakarta to Denpasar, Bali, scheduled for later this month by Pelita Air, an airline subsidiary of Pertamina, the refinery unit said. Sign up here. Around 32 kilolitres of the SAF from its Cilacap refinery have been prepared for the flight. Pertamina plans to deliver 1.7 million litres of the fuel to Soekarno-Hatta airport in Jakarta, the statement said. Pertamina's Cilacap refinery has SAF production capacity of around 1,400 kl per day, with used cooking oil content of 2% to 3%, the company said. https://www.reuters.com/business/energy/indonesias-pertamina-delivers-first-used-cooking-oil-aviation-fuel-2025-08-12/
2025-08-12 07:25
SUAO, Taiwan, Aug 12 (Reuters) - Authorities in Taiwan were scrambling on Tuesday to evacuate hundreds from the likely path of Typhoon Podul, expected to make landfall on the island's southeastern coast, while nearby areas battle to recover from the havoc caused by previous storms. Taiwan is regularly hit by typhoons, generally along its mountainous, sparsely populated east coast facing the Pacific. Sign up here. The mid-strength Typhoon Podul, packing gusts of as much as 155 kph (96 mph), was heading for the southeastern city of Taitung as it intensifies and was expected to make landfall nearby on Wednesday, weather officials said. In the eastern county of Hualien, nearly 700 people will be evacuated from their homes to guard against the risk of overflow from a natural dam formed after a landslide set off by a previous typhoon. "We must especially urge people living downstream to follow government instructions and evacuate," said Chu Chung-jui, an official of the National Science and Technology Center for Disaster Reduction. "Authorities are closely monitoring this landslide lake," he told a Taipei briefing for the typhoon taskforce. After making landfall, the storm was expected to hit the densely populated western coast before heading for China's southern province of Fujian later this week. As much as 600 mm (24 inches) of rain was forecast in southern mountainous areas over the next few days, the Central Weather Administration said. More than a year's rainfall fell in a single week this month in some southern areas, unleashing widespread landslides and flooding, with four deaths. Authorities were also working to evacuate those whose homes were damaged by a July typhoon that brought record winds and damaged the electricity grid in a rare direct hit to Taiwan's west coast. Swimmers on a beach near the northeastern port of Suao were enjoying the last of the fine weather before warnings of high seas went out and the coast guard cordoned off coastal areas. "Here in the east, we always have typhoons or earthquakes, so we are not really scared of those, but rather used to them," said Yu How-ling, a 30-year-old beach visitor. https://www.reuters.com/business/environment/taiwan-evacuate-hundreds-typhoon-podul-barrels-towards-southeast-2025-08-12/
2025-08-12 07:11
RBA cuts rates by 25bp to 3.6%, third cut this year Bullock says forecasts centred on a few more cuts Australian dollar slips 0.2%, bonds reverse earlier losses SYDNEY, Aug 12 (Reuters) - Australia's central bank cut interest rates on Tuesday for a third time this year and signaled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. Wrapping up a two-day policy meeting, the Reserve Bank of Australia board cut the main cash rate by a quarter point to 3.6%, saying that data suggested core inflation would moderate to around the middle of its 2% to 3% target band, assuming a gradual easing in policy. Sign up here. Markets had been fully priced for a cut, having been wrong-footed in July when the central bank held steady, given inflation had slowed as desired in the second quarter while unemployment had moved higher. Governor Michele Bullock would not comment on whether a cash rate of 3.6% was restrictive or not, but said policymakers would decide moves on a meeting by meeting basis to ensure the bank met its two mandates of low and stable inflation and full employment. "Forecasts imply that the cash rate might need to be a bit lower than it is today to keep inflation low and stable and employment growing but there is still a lot of uncertainty," said Bullock in a post-meeting decision. She added that a decision not to cut rates at Tuesday's meeting would have meant the central bank risked missing both of its mandates. The Australian dollar slipped 0.2% to $0.6508, while three-year bonds reversed earlier losses to be up 2 ticks at 96.62. Swaps imply just a 34% probability that the RBA would follow up with a September cut, although two more rate cuts by early next year are fully priced in to 3.1% The RBA stunned markets just last month by holding rates steady at 3.85% in a rare split decision as the majority of policymakers wanted to wait for more data to confirm inflation was easing towards the midpoint of the 2-3% target band. The RBA on Tuesday also slashed the outlook for economic growth as productivity stayed persistently weak. It, however, still forecast a slowdown in core inflation and maintained a steady labour market. Headline inflation eased to 2.1% in the June quarter, while the trimmed mean measure of core inflation hit a fresh three-year low of 2.7%. The labour market, on the other hand, is easing from full employment levels, with the jobless rate jumping to 4.3% from 4.1% in one month. There are signs that previous cuts in February and May are finally filtering through the economy, with consumer spending starting to pick up on the back of lower inflation and past tax cuts. The central bank has emphasised caution in easing, having only cut rates after the release of the quarterly inflation data. That is why investors are wagering on a cut in November and likely another in February next year. Meanwhile, the global outlook appears to be improving slightly. On Monday, U.S. President Donald Trump extended a tariff truce with China by another 90 days, staving off triple-digit duties on Chinese goods and an immediate escalation in the trade war. "Unemployment has jumped, strengthening the case for cuts. At the same time, robust household spending shows some families can still find room for discretionary purchases," said Harry Murphy Cruise, head of economic research and global trade at Oxford Economics Australia. "In the end, prices and jobs trump everything else. With good news on inflation and bad news on unemployment, more easing is warranted." https://www.reuters.com/world/asia-pacific/australias-central-bank-cuts-rates-two-year-low-360-2025-08-12/
2025-08-12 07:10
PARIS, Aug 12 (Reuters) - Power production at France's Bugey 3 nuclear reactor in the east of the country is expected to be reduced by 500 megawatts (MW) on Wednesday, data from operator EDF showed on Tuesday, as high river temperatures reduce the plant's ability to intake cooling water. A heatwave throughout France has led to multiple warnings of power reductions at a number of nuclear plants, particularly on the Rhone river in the east and the Garonne in the west. Sign up here. The Bugey 3 reactor has a maximum capacity of 910 MW, which will be reduced to 410 MW from 2:30 p.m. (1230 GMT) to midnight on Wednesday as the reactor is required to meet environmental safety measures, EDF's data showed. The high water temperature warnings for the Saint Alban plant - down river of the Bugey site - and the Golfech site in the west were moved to August 14, but restrictions have not yet been issued. Average temperatures in the country are expected to continue to peak throughout the week, reaching a high of 28.5 degrees Celsius (83.3°F) on Saturday, LSEG data showed. Nuclear power accounts for about 70% of total French power consumption annually, but August is the main holiday season throughout the country and electricity demand is often limited. https://www.reuters.com/sustainability/climate-energy/french-nuclear-power-production-expected-be-reduced-wednesday-2025-08-12/
2025-08-12 06:59
Trump signs order to extend China tariff deadline for 90 days US consumer prices index data due at 1230 GMT Spot gold dropped 1.5% to one-week low on Monday Aug 12 (Reuters) - Gold prices nudged higher on Tuesday, recovering slightly from a sharp decline in the previous session, as investors awaited U.S. inflation data for further insight into the Federal Reserve's rate-cut trajectory. Spot gold was up 0.1% at $3,348.41 per ounce, as of 0638 GMT. U.S. gold futures for December delivery eased 0.2% to $3,397.10. Sign up here. Gold slipped 1.6% on Monday, while futures dropped by more than 2% after U.S. President Donald Trump said tariffs will not be placed on imported gold bars, easing jitters in the market. "Market participants now will be definitely focusing on the upcoming Fed rate cut, which has been more or less priced in for September. If we start to see the core CPI data came in slightly below expected, that could actually further support this rate-cut expectations," OANDA senior market analyst Kelvin Wong said. "That could lower the cost of holding gold and the long-term U.S. 10-year treasury yield still remains below certain key resistance level, so that could actually support gold prices." All eyes are on U.S. consumer prices index data, which is due at 1230 GMT. Economists polled by Reuters projected that core CPI likely rose 0.3% in July, pushing the annual rate higher to 3%, away from the Fed target of 2%. Traders are pricing in around an 85% chance of a Fed rate cut next month, as per the CME FedWatch Tool. Gold tends to perform well during periods of uncertainty and in a low-interest-rate environment. Traders appeared to show scant reaction to a statement from a White House official that Trump signed an executive order on Monday, extending a pause in sharply higher U.S. tariffs on Chinese imports for another 90 days. Elsewhere, spot silver gained 0.7% to $37.89 per ounce, platinum rose 0.4% to $1,331.50 and palladium climbed 0.8% to $1,145.03. https://www.reuters.com/world/china/gold-edges-higher-with-focus-us-inflation-data-2025-08-12/
2025-08-12 06:54
Brent gains 0.2%, WTI up 0.1% U.S., China extend tariff pause to November Eyes on U.S. inflation data due later on Tuesday Trump-Putin talks on Friday cloud oil outlook SINGAPORE, Aug 12 (Reuters) - Oil prices rose on Tuesday as the United States and China extended a pause on higher tariffs, easing concerns an escalation of their trade war would disrupt their economies and crimp fuel demand in the world's two largest oil consumers. Brent crude futures gained 14 cents, or 0.2%, to $66.77 a barrel by 0643 GMT, while U.S. West Texas Intermediate crude futures rose 8 cents, or 0.1%, to $64.04. Sign up here. U.S. President Donald Trump extended a tariff truce with China to November 10, staving off triple-digit duties on Chinese goods as U.S. retailers prepared for the critical end-of-year holiday season. This raised hopes that an agreement could be attained between the world's two largest economies and avert a virtual trade embargo between them. Tariffs risk slowing global growth, which could sap fuel demand and drag oil prices lower. Oil's gains have also been supported by fresh signs of softness in the U.S. labour market, which have boosted expectations for a Federal Reserve rate cut in September, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova. Also on the radar is U.S. inflation data later in the day, that could shape the Fed's rate path. Interest rate cuts typically boost economic activity and oil demand. Potentially weighing on the oil market, Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss an end to the war in Ukraine. "The U.S.-Russia diplomatic track on the Ukraine conflict remains a wildcard, with traders monitoring for any geopolitical surprises that could disrupt supply routes or sanction regimes," Sachdeva said. The meeting comes as the U.S. steps up pressure on Russia, with the threat of harsher penalties on Russian oil buyers such as China and India if no peace deal is reached. "Any peace deal between Russia and Ukraine would end the risk of disruption to Russian oil that has been hovering over the market," ANZ senior commodity strategist Daniel Hynes wrote in a note. Trump set a deadline of last Friday for Russia to agree to peace in Ukraine or have its oil buyers face secondary sanctions, while pressing India to reduce purchases of Russian oil. Washington also wants Beijing to stop buying Russian oil, with Trump threatening to impose secondary tariffs on China. The risk of those sanctions being enacted has receded ahead of the August 15 Trump-Putin meeting. https://www.reuters.com/business/energy/oil-inches-up-us-china-tariff-truce-extension-boosts-trade-hopes-2025-08-12/
