"One way or another, it looks as though India is going to take some Iranian crude," said Olivier Jakob of Petromatrix, adding that the development was helping oil to "retrace some of the price surge we saw last week." U.S. sanctions will target Iran's crude oil exports from Nov. 4, and Washington has been putting pressure on governments and companies worldwide to cut their imports to zero. "This is one of the single biggest supportive factors for crude," said analysts at JBC Energy of the U.S. re-imposition of Iran sanctions. "Having said that, it may well be that we are already in the most supportive phase coming from this change and the effect will soon begin to ease." Click read more below for additional detail.
US Dollar to Canadian Dollar = 0.798464; US Dollar to Chinese Yuan = 0.154145; US Dollar to Euro = 1.138608; US Dollar to Japanese Yen = 0.009331; US Dollar to Mexican Peso = 0.058277
It may no longer be a hurricane, but Florence is still expected to exact a toll on the Carolinas and then further inland over the next several days as the slow-moving storm drops rain measured in feet rather than inches across a wide swath of area. Having already killed 7, the storm’s aftermath could be as deadly as its approach, officials say, with historic flooding lasting for potentially weeks after 45 inches of rain is dumped in some areas. Florence is nearly stationary at the moment, officials from NOAA said at a morning briefing, about 35 miles west of Mrytle Beach, SC, with maximum sustained winds of 50 mph. Areas near Newport, NC have received 24 inches of rain so far with another 15 expected. Those rain bands will continue throughout the day and slowly drop to the south. Click Read More below for additional information.
- Tronox revenue of $535 million and adjusted EBITDA of $60 million - TiO2 and Alkali operating segments generated adjusted EBITDA of $74 million and free cash flow of $147 million - TiO2 segment adjusted EBITDA of $36 million and free cash flow of $114 million - Alkali segment adjusted EBITDA of $38 million and free cash flow of $33 million - Fairbreeze mine began operations ahead of schedule in fourth quarter; mine will produce feedstock for KZN Sands operations and zircon and rutile co-products - 2015 Operational Excellence targets exceeded with $90 million of cash from cost reductions (after costs to achieve) and $98 million of cash from working capital reductions