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The latest commodities coverage from the TrustFinance editorial desk.
The total number of active U.S. oil and gas drilling rigs was unchanged for a second straight week at 588, according to Baker Hughes. This stability comes amid a multi-year decline in drilling activity, even as the EIA forecasts record production.
The number of active U.S. oil rigs increased by two, while natural gas rigs declined by the same amount for the week ending Sept. 4, leaving the total count unchanged, according to the latest report from Baker Hughes.
Coffee production in Colombia, a top global supplier, declined for a second straight month, falling 12% year-over-year in August as adverse climate conditions delayed the harvest, according to the national coffee federation.
Chicago wheat futures fell on Friday as traders monitored diplomatic developments that could potentially end the war in Ukraine and ease critical Black Sea grain export disruptions.
The U.S. embassy in Havana has warned of a significant increase in intestinal illnesses, attributing the spike to the degradation of water and energy infrastructure nine months after the Trump administration imposed a fuel blockade.
Colombian coffee output fell for a second straight month, declining 12% year-over-year to 1.09 million bags in August due to harvest delays caused by adverse weather, according to the National Coffee Federation.
Chicago wheat futures fell from a multi-year high as traders reacted to reports of potential diplomatic efforts to end the war in Ukraine, which could ease disruptions to critical Black Sea grain exports.
President Donald Trump on Friday said the U.S. may soon strike 'Pickaxe Mountain,' a heavily fortified site near Iran's Natanz uranium enrichment facility, adding to geopolitical tensions that influence global oil markets.
The total number of active U.S. oil and gas rigs was unchanged at 588 for a second straight week, as a small increase in oil-directed drilling was offset by a decline in gas rigs, according to data from Baker Hughes.
