News
Important Only
Sale of bankrupt Brazil soy crusher's assets under legal threat
By Ana Mano SAO PAULO, May 30 (Reuters) - A legal dispute over control of bankrupt Brazilian soy processor Imcopa is threatening to derail a court-run auction for two crushing plants in southern Brazil that had previously drawn interest from major traders Bunge BG.N and Cargill.R2C Investimentos,...Reuters
Fri, May 30
US drillers cut oil and gas rigs to lowest since November 2021 -Baker Hughes
By Scott DiSavino May 30 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fifth week in a row, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday. It was the lowest total since November 2021.It was the first time...Reuters
Fri, May 30
EU wheat stuck near contract lows
PARIS, May 30 (Reuters) - Euronext wheat prices edged down on Friday to trade near contract lows as further signs of Russian export competition reinforced a bearish mood fuelled this week by improving global supply prospects.September milling wheat BL2U5, the most active position on Paris-based Euro...Reuters
Fri, May 30
Brazil power co gets OK for data center project with TikTok interest
SAO PAULO, May 30 (Reuters) - Wind farm developer Casa dos Ventos has regulatory approval to move ahead with a 300-megawatt project in northeast Brazil where the company has been discussing a major data center investment with the owner of TikTok.Brazil's national power grid operator (ONS) gave t...Reuters
Fri, May 30
US regulators greenlight some construction at Venture Global's CP2 LNG plant, document shows
HOUSTON, May 30 (Reuters) - Federal regulators on Friday gave Venture Global VG.N permission to proceed with some construction activities at its proposed CP2 LNG facility in Louisiana, document shows.The permission follows FERC's greenlighting of the plant's construction earlier this week.Reuters
Fri, May 30
US targets geothermal projects for emergency permitting
By Valerie VolcoviciWASHINGTON, May 30 (Reuters) - The U.S. Department of the Interior said on Friday it was implementing emergency permitting procedures to accelerate reviews of geothermal energy projects as part of President Donald Trump's energy agenda.The projects that will be fast-tracked i...Reuters
Fri, May 30
US Cash Grains-Corn bids flat, soy higher as planting progresses
CHICAGO, May 30 (Reuters) - Spot soybean and corn basis bids were mostly steady in the U.S. Midwest on Friday following a week of quiet trading and minimal movement as most farmers focused on seeding the rest of their corn and soy crops.Soy bids increased at an Ohio elevator and an Iowa river termin...Reuters
Fri, May 30
Europe Gasoline/Naphtha-Gasoline profit margins edge lower
LONDON, May 30 (Reuters) - Northwest European gasoline profit margins fell slightly to about $15 a barrel on Friday despite a drop in regional inventories, as trading activity slowed down.A total of 4,800 metric tons of Eurobob E5 barges traded in the Argus window, with Litasco and ExxonMobil sellin...Reuters
Fri, May 30
METALS-Copper on track for biggest monthly rise since September
By Polina Devitt LONDON, May 30 (Reuters) - Copper prices fell on Friday under pressure from a stronger dollar, but remained on course for their biggest monthly rise in eight months due to tighter nearby supply, highlighted by the premium for nearby copper contracts against those further out.Benc...Reuters
Fri, May 30
Nigeria's Dangote refinery continues WTI buying spree in July
LONDON, May 30 (Reuters) - Nigeria's Dangote oil refinery will import at least five million barrels of U.S. WTI crude oil in July, three trading sources told Reuters, continuing its buying spree after a potential record tally in June.The giant new 650,000 barrel per day (bpd) capacity oil refine...Reuters
Fri, May 30
US crude oil output hit record high in March, while demand fell, says EIA
May 30 (Reuters) - U.S. crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration (EIA) said in its Petroleum Supply Monthly (PSM) report on Friday.U.S. crude output rose to 13.488 million barre...Reuters
Fri, May 30
OPEC+ exports set to rise – TDS
CTAs will continue to sell crude and industrial metals (x-copper) in most scenarios for prices by this time next week. In the imminent term, CTA selling activity will continue to weigh on price action into the OPEC meeting, TDS' Senior Commodity Strategist Daniel Ghali notes.
Fxstreet
Fri, May 30
US axes 24 clean energy projects, including at Exxon's Baytown
By Timothy GardnerWASHINGTON, May 30 (Reuters) - The U.S. has axed awards to 24 green energy projects including to an Exxon refinery complex in Texas issued during former President Joe Biden's administration that totaled more than $3.7 billion, the Energy Department said on Friday. The administr...Reuters
Fri, May 30
Silver Price Forecast: XAG/USD strives to hold $33 amid renewed Sino-US trade worries
Silver price (XAG/USD) is down almost 1% near the key level of $33.00 during North American trading house on Friday. However, the white metal strives to gain ground as renewed trade tensions between the United States (US) and China are limited the upside in the US Dollar (USD).
Fxstreet
Fri, May 30
ARA oil product stocks fall 1.5%, Insights Global data shows
LONDON, May 30 (Reuters) - Total oil product stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 1.5% on the week, data from Dutch consultancy Insights Global showed on Friday.Total stocks stood at 5.62 million metric tons, the data showed.Gasoil stock...Reuters
Fri, May 30
US implements emergency permitting procedures to speed geothermal energy development
WASHINGTON, May 30 (Reuters) - The U.S. Department of the Interior said on Friday it was implementing emergency permitting procedures to accelerate reviews of geothermal energy development projects.“Geothermal energy is a reliable energy source that can power critical infrastructure for national sec...Reuters
Fri, May 30
