2025-07-21 12:11

MOSCOW, July 21 (Reuters) - Foreign vessels will require the approval of Russia's FSB security service to access the country's ports, according to a decree signed by President Vladimir Putin. The decree said that permission from port authorities for foreign ships to enter would need to be agreed with the FSB, which is the main successor organisation to the Soviet-era KGB. The new measures came into force immediately after the decree was published on Monday. Sign up here. Previously, entry rules were set by the transport ministry and special procedures were in place at ports adjacent to naval bases, state news agency TASS said. The wording of the new decree made clear it would apply to all ports. It did not specify any reason for the change. Russian ships and vessels of the "shadow fleet" that Moscow uses to circumvent sanctions are closely scrutinised by the West. The European Union last week lowered a price cap that seeks to squeeze Russian oil revenues, and President Donald Trump threatened additional sanctions on Russia and buyers of its exports unless it agrees to end the Ukraine war. https://www.reuters.com/world/europe/putin-says-fsb-approval-will-be-needed-foreign-vessels-entering-russian-ports-2025-07-21/

2025-07-21 12:03

July 21 (Reuters) - Saudi Arabia's crude oil exports in May rose to their highest in three months, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Crude exports from the world's largest oil exporter rose to 6.191 million barrels per day (bpd) from 6.166 million bpd in April. Sign up here. Saudi's crude output for May was at 9.184 million bpd, up from 9.005 million bpd in April. Saudi refineries' crude throughput was at 2.721 million bpd, up 0.017 million bpd from April's 2.704 million bpd, the data showed, while direct crude burning increased by 112,000 bpd to 489,000 bpd. Saudi Arabia and other members of OPEC provide monthly export figures to JODI, which publishes them on its website. The OPEC+ group comprising OPEC and allies such as Russia, this month agreed to raise production by 548,000 bpd in August, further accelerating output increases at its first meeting since oil prices jumped and then retreated after Israeli and U.S. attacks on Iran. Five sources familiar with the discussions said that OPEC+ is likely to approve a further increase for September when it meets on August 3. OPEC+ began to unwind cuts of 2.17 million bpd in April with a boost of 138,000 bpd, followed by further increases in May, June and July despite falling oil prices. Meanwhile, Saudi Arabia's energy ministry said the kingdom had been fully compliant with its voluntary OPEC+ output target, adding that Saudi-marketed crude supply in June was 9.352 million bpd, in line with the agreed quota. https://www.reuters.com/business/energy/saudi-arabia-crude-exports-hit-three-month-high-may-2025-07-21/

2025-07-21 12:00

LAUNCESTON, Australia, July 21 (Reuters) - Asia's run of subdued imports of liquefied natural gas (LNG) is set to extend for another month in July, with the top-importing region on track for a tiny increase from June. Asia's imports of the super-chilled fuel are estimated at 22.07 million metric tons in July, up from 21.80 million in June, according to data compiled by commodity analysts Kpler. Sign up here. On a per day basis July's figure is 722,000 tons, which is slightly down from 727,000 in June. The soft July imports continue a trend this year of declining LNG arrivals in Asia, with the first seven months of 2025 coming in at 155.82 million tons, down 6.3% from the 166.22 million over the same period last year. In contrast to Asia's declining LNG imports, Europe's have been trending higher, with the first seven months seeing arrivals of 75.61 million tons, up 24% from the 61.13 million for the same period in 2024, according to Kpler data. The extra 14.48 million tons of LNG that has headed to Europe in the first seven months reflects the continent's efforts to refill inventories ahead of winter while continuing to shun pipeline gas from Russia. The extra European demand has been a boon for LNG exporters as it has helped keep global prices higher, and largely prevented the usual seasonal decline in both volumes and spot prices seen in the shoulder season between the winter and summer peaks. But the higher prices have also led to lower demand from price-sensitive buyers in Asia, especially China, the world's largest LNG importer. CHINA DECLINE China's LNG imports are on track to reach 4.96 million tons in July, down from 5.09 million in June and 5.92 million in July 2024, according to Kpler data. For the first seven months of the year, China's imports are estimated by Kpler at 35.17 million tons, down 21.2% from the 44.64 million for the same period in 2024. The drop in China's LNG imports also accounts for 91% of the total drop in Asia's imports in the first seven months of 2025. The rest of the decline can largely be ascribed to India, Asia's fourth-largest LNG buyer, with imports in the January to July period estimated at 14.08 million tons, down from 16.11 million for the same period in 2024. The decline in imports by China and India comes as spot LNG prices for delivery to North Asia remain at elevated levels. The spot price dropped to $12.33 per million British thermal units (mmBtu) in the week to July 14 from $12.90 the prior week. While this is similar to the $12.00 per mmBtu that prevailed in the same week in 2024, what is different so far in 2025 is that the lowest price so far, of $11.00 in late April, is well above the low point of $8.30 in February 2024 and $9.00 in June 2023. The fact that spot prices didn't have their usual seasonal decline after the northern winter meant that Chinese buyers were unable to pick up cargoes at economical prices. A spot price of above $10-$11 per mmBtu is believed to make LNG imports uncompetitive against domestic output and pipeline supplies from Russia and Central Asia. It's also the case that China has been producing more domestic natural gas, with official data showing output rising 5.8% in the first half of 2025 to the equivalent of 96.8 million tons, an increase of about 5 million tons. Pipeline imports have also increased by about 6%, or 3 million tons. However, the combined rise in domestic output and pipeline imports is still below the decline of nearly 9.5 million tons in LNG imports, suggesting that the high LNG spot price is acting to reduce demand. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn , opens new tab and X , opens new tab. The views expressed here are those of the author, a columnist for Reuters. https://www.reuters.com/markets/commodities/asias-lng-imports-stay-soft-july-europe-draws-cargoes-russell-2025-07-21/

2025-07-21 11:58

Petition against farm bill gathers 1.3 million signatures Petition could prompt parliamentary debate Farmers argue pesticide vital for sugar beet production PARIS, July 21 (Reuters) - A petition against a French farm bill loosening environmental rules for farming, including over the use of a pesticide accused of harming bees, has set a record for signatures, increasing pressure on the government to revisit the law. Launched by a 23-year-old student this month, the petition , opens new tab poses a fresh challenge for President Emmanuel Macron, already under strain over his cost-cutting budget. Sign up here. It had gathered 1.3 million signatures by Monday morning, becoming the first petition on the National Assembly website to surpass 500,000. In France, petitions with over half a million signatures can prompt a parliamentary debate, but do not require a new vote. National Assembly chairwoman Yael Braun-Pivet and former Prime Minister Gabriel Attal are among those who have said they would back a debate. The draft law, proposed by conservative Laurent Duplomb, would reauthorise the use of neonicotinoid pesticide acetamiprid, one of a group that European food safety agency EFSA has assessed as representing a risk to bees. It also aims to simplify approvals for livestock breeding facilities, and to ease irrigation rules. The petition, however, calls it a "scientific, ethical, environmental, and health aberration". French farmers protested in Paris in May against amendments filed by opposition lawmakers to the bill, which it said would help them compete with EU peers. France is the EU's top sugar beet grower and home to major producers such as Tereos and Cristal Union. Growers argue that acetamiprid, allowed in other EU countries, is vital to fight yellows disease, which cut yields by 30% in 2020 and slashed sugar output. "We need to maintain our means of production, and I believe there's a lot of exaggeration in the comments being made," the head of France's largest farm union FNSEA Arnaud Rousseau told franceinfo radio. The government defended the bill, but acknowledged the outcry. "We must listen (to this petition)," government spokesperson Sophie Primas said. "Perhaps we haven't explained or reassured enough. The aim of this law is to put French farmers back on an equal footing with their European counterparts." https://www.reuters.com/world/french-farm-bill-sparks-record-breaking-petition-signatures-2025-07-21/

2025-07-21 11:55

Ether last at $3,795.4, near its highest level this year Solana also surges, ProShares Ultra Solana ETF up 17.2% July 21 (Reuters) - Shares of crypto-linked companies jumped on Monday, as ether prices scaled their highest this year after President Donald Trump signed into law a bill regulating stablecoins in the U.S. Trump signed the GENIUS Act late on Friday, marking a huge win for crypto industry that has been lobbying for a regulatory framework to gain greater legitimacy. The bill was passed in the House of Representatives by a vote of 308 to 122 on Thursday, after Senate approval. Sign up here. Bitcoin , the world's biggest cryptocurrency, inched 0.4% up, though it remains more than 3% away from its all-time high of $123,153 hit last week. The bill bans yields or interest payments on regulated stablecoins, which Deutsche Bank said is leading to a rise in ether prices, on expectations that investors are moving into the world's second biggest cryptocurrency as an alternative for yield generation in decentralized finance. "It has been a long-awaited moment for Ethereum, and although it's too early to be fully convinced of a longer term trend shift, the confluence of factors are playing into its favor," said Luke Nolan, senior research associate at CoinShares. Ether was last trading at $3,795.4 after hitting its highest level for the year on Sunday. Both crypto exchange Coinbase Global (COIN.O) , opens new tab and stablecoin issuer Circle Internet (CRCL.N) , opens new tab were about 0.1% higher in early trading. Stablecoins are designed to maintain a constant value, usually a 1:1 U.S. dollar peg, and their use has exploded, mainly by crypto traders moving funds between tokens. Some large Wall Street banks such as Bank of America (BAC.N) , opens new tab have also been working on launching their own stablecoins. FOLLOWING STRATEGY U.S.-listed shares of companies, which have been adding cryptocurrencies to their coffers lately, were on the rise on Monday. Shares of BitMine (BMNR.A) , opens new tab, where tech billionaire Peter Thiel is the top investor and whose chairman is Fundstrat's Tom Lee, advanced 2.7%. Other ether holding firms Bit Digital (BTBT.O) , opens new tab, BTCS (BTCS.O) , opens new tab and SharpLink Gaming (SBET.O) , opens new tab climbed between 2.3% and 8%, respectively. Companies such as GameStop (GME.N) , opens new tab have been rushing to add crypto to their balance sheets, following the footsteps of Strategy (MSTR.O) , opens new tab. Shares of the largest corporate holder of bitcoin have skyrocketed nearly 3,000% since 2020 and climbed 1.7% on Monday. Blank-check firm Dynamix Corporation (DYNX.O) , opens new tab surged 26.2% as the Ether Reserve, a new crypto venture backed by prominent crypto investors, was set to merge with the company to form The Ether Machine. Other cryptocurrencies also advanced, with Solana hitting its highest level since February. The ProShares Ultra Solana ETF (SLON.P) , opens new tab also jumped 17.2%. XRP also gained 1%, trading close to its record highs. The broader crypto sector's market value hit $4 trillion on Friday, according to CoinGecko data. https://www.reuters.com/business/media-telecom/crypto-linked-stocks-advance-after-trump-signs-stablecoin-law-2025-07-21/

2025-07-21 11:53

Yen firms as markets had priced in Japan election result Ruling coalition loses majority in upper house Japanese markets closed on Monday Tariffs, ECB & Fed meetings in focus SINGAPORE/LONDON, July 21 (Reuters) - The yen firmed on Monday after Japan's ruling coalition lost its majority in the upper house, suggesting the result was mostly priced in, even as investors braced for market disquiet ahead of a deadline on U.S. tariff negotiations. Japanese markets were closed for a public holiday, leaving the yen as the indicator of possible investor angst. Sign up here. The currency , however, firmed 0.8% to 147.65 a dollar, but was not far off the 3-1/2-month low of 149.19 hit last week as investors fretted about Japan's political and fiscal outlook. It also nudged higher against the euro to 172.10 and against sterling to 198.87. Prime Minister Shigeru Ishiba's Liberal Democratic Party returned 47 seats, short of the 50 it needed to ensure a majority in the 248-seat upper chamber, where half the seats were up for grabs. Ishiba vowed to stay on in his role even as some of his own party discussed his future and the opposition weighed a no-confidence motion. Carol Kong, currency strategist at Commonwealth Bank of Australia, said markets likely priced in a much worse outcome for the ruling coalition heading into the election and doubted that the yen could sustain its strength. "It remains unclear whether Ishiba can indeed survive as the prime minister...and what it means for Japan's trade negotiations with the U.S.," said Kong. "Prolonged political uncertainty will be negative for Japanese assets, including the yen." The election result, while not entirely a shock to markets, also comes at a tricky time for a country trying to get a tariff deal with U.S. President Donald Trump before an August 1 deadline. "Japan's political picture has become more complicated, with investors also focusing on the U.S.-Japan tariff row," said Roberto Mialich, global FX strategist at UniCredit. The increased political fragility is likely to constrain the Bank of Japan's ability to tighten monetary policy in the near term, said David Chao, global market strategist for Asia Pacific at Invesco. "It may be reluctant to add further pressure to an already volatile landscape." TARIFF UNCERTAINTY Investor focus has been firmly on Trump's global tariff salvos, with a Financial Times report last week indicating the U.S. president was pushing for steep new tariffs on European Union products. U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the U.S. can secure a trade deal with the EU, but said August 1 was a hard deadline for tariffs to kick in. EU diplomats said the bloc was exploring a broader set of counter measures against the U.S. as prospects for an acceptable trade agreement fade, even though a negotiated solution was still their preferred option. The euro was up 0.2% at $1.1658, while sterling last fetched $1.3467. The dollar index , which measures the U.S. currency against six others, was down 0.3% at 98.107. The European Central Bank is due to meet this week and is expected to hold rates steady after a string of cuts, while investor attention has been on whether the Federal Reserve succumbs to pressure from Trump to cut interest rates. "We doubt ECB President Christine Lagarde will shake things up too much ahead of the central bank's summer break, although there may be some continued concerns over recent euro strength and particularly the direction of tariffs," said Chris Turner, ING's global head of markets. Trump appeared near the point of trying to dismiss Fed Chair Jerome Powell last week, but backed off with a nod to the market disruption that would likely follow. The U.S. central bank is widely expected to hold rates steady in its July meeting. Traders are fully pricing in a rate cut by the October meeting with the odds of a second rate cut this year not fully priced in yet. The New Zealand dollar eased 0.1% to $0.5964 after consumer inflation accelerated in the second quarter but stayed below economists' forecasts, leading markets to raise the chance of a rate cut next month given the broader economic weakness. https://www.reuters.com/business/yen-firms-after-japanese-election-result-us-dollar-softens-2025-07-21/