News
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GRAINS-Wheat dips again as short-covering rally loses steam
CANBERRA, May 23 (Reuters) - Chicago wheat futures edged lower on Friday, slipping for the second straight day, as a short-covering rally that lifted prices from last week's five-year low ran out of steam, but remained on track for a weekly gain.Reuters
Fri, May 23
Mexico's Pemex plans restructuring to save costs, document shows
May 22 (Reuters) - Mexico's Pemex, the world's most indebted energy company, plans to restructure parts of its business in an attempt to save costs, a May document seen by Reuters showed on Thursday.Earlier reports, citing another document from last month suggesting it could include a layoff...Reuters
Fri, May 23
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, May 23 (Reuters) - Contract Target Support/Resistance Brent oil $64.54/$64.93sup $63.71/$63.25Palm oil (3rd month)3,883/3,927 ringgitsup 3,812/3,768 ringgitWTI* $61.55/$62.05sup $60.23/$59.42Spot gold$3,335/$3,366sup $3,284/$3,266LME copper (...Reuters
Fri, May 23
Oil falls on stronger US dollar, possibility of higher OPEC+ output
By Laila Kearney May 23 (Reuters) - Oil prices slipped on Friday, weighed down by a stronger U.S. dollar and the possibility that OPEC+ will further increase its crude oil output. Brent futures LCOc1 fell 37 cents to $64.07 a barrel by 0015 GMT. U.S. West Texas Intermediate crude futures CLc1 los...Reuters
Fri, May 23
PRECIOUS-Gold heads for best week in more than a month on US fiscal worries
May 23 (Reuters) - Gold was on track for its best weekly gain in over a month on Friday, as a softer dollar and mounting concerns about the deteriorating fiscal outlook of the world's biggest economy boosted the metal's safe-haven appeal.FUNDAMENTALS* Spot gold XAU= gained 0.2% to $3,299.79 ...Reuters
Fri, May 23
US crude oil storage demand surges as traders brace for OPEC+ price war
NEW YORK, May 22 (Reuters) - U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting C
Reuters
Fri, May 23
US Cash Crude-Mars firms as Chevron's license to operate in Venezuela set to expire next week
May 22 (Reuters) - Mars steadied on Thursday after touching four-month lows in the previous session, dealers said, after U.S. Secretary of State Marco Rubio said oil producer Chevron's CVX.N U.S. license to operate in Venezuela will expire on May 27 as planned. Mars traded flat to U.S. West Texa...Reuters
Thu, May 22
CIF/FOB Gulf Grain-Corn barge bids creep up on thin farmer sales
CHICAGO, May 22 (Reuters) - Basis bids for corn delivered by barge to U.S. Gulf Coast terminals ticked higher on Thursday, supported by demand from exporters, while farmer offerings of the grain remained thin, traders said.At the Gulf, CIF corn barges loaded in May traded at 70 cents over Chicago Bo...Reuters
Thu, May 22
Pemex to cut over 3000 jobs to save more than $540 million, Bloomberg reports
May 22 (Reuters) - Mexican state oil company Pemex plans to layoff over 3000 tenured employees and save up around 10.5 billion pesos ($543.40 million) in the process, Bloomberg reported citing a company document dated April.The document was first reported by the Mexican newspaper Reforma. Reuters c...Reuters
Thu, May 22
El Paso Declares Force Majeure At At Plains Compressor Station In Yoakum County, Texas
May 22 (Reuters) - KINDER MORGAN'S KMI.N EL PASO NATURAL GAS COMPANY, L.L.C (EPNG):DECLARES FORCE MAJEURE AT AT PLAINS COMPRESSOR STATION LOCATED IN YOAKUM COUNTY, TEXAS AFTER IT EXPERIENCED A COMPRESSION EQUIPMENT FAILURERELATED: [nAQN2KEC4J]Reuters
Thu, May 22
Rio Tinto's Chile deals bet on unproven technology and lithium price bounce
Rio Tinto secures ENAMI's Altoandinos project and Codelco's Maricunga projectRio's DLE expertise from Argentina gives it competitive edge in Chile Maricunga Construction of Maricunga likely to start in 3-5 years after permit updatesBy Daina Beth Solomon and Clara Denina SANTIAGO, May ...Reuters
Thu, May 22
Phillips 66's Los Angeles refinery layoffs to begin in December, sources say
By Nicole Jao NEW YORK, May 22 (Reuters) - Phillips 66 PSX.N is expected to lay off most workers at its 139,000-barrel-per-day Los Angeles-area refinery in December, sources familiar with the matter said on Thursday.The company announced in October it would close the facility and begin winding do...Reuters
Thu, May 22
Exxon Mobil Joliet refinery running unit at reduced rate
By Nicole Jao NEW YORK, May 22 (Reuters) - Exxon Mobil XOM.N was operating the catalytic cracker unit at its 275,000 barrel-per-day Joliet, Illinois refinery at reduced rates earlier this week, IIR Energy said on Thursday.The refinery ran its 98,000-bpd catalytic cracker unit at approximately 50%...Reuters
Thu, May 22
Colorado Interstate Gas Company Cancels Force Majeure On Segment 142 After Completing Repairs
May 22 (Reuters) - KINDER MORGAN'S KMI.N COLORADO INTERSTATE GAS COMPANY, L.L.C (CIG):CANCELS FORCE MAJEURE ON SEGMENT 142 AFTER COMPLETING REPAIRSSAYS IT HAS COMPLETED THE REPAIRS AT ELK BASIN COMPRESSOR UNIT #1Reuters
Thu, May 22
RPT-Trump to sign orders to boost nuclear power as soon as Friday, sources say
By Timothy Gardner, Jarrett Renshaw and Gram Slattery WASHINGTON, May 22 (Reuters) - U.S. President Donald Trump will sign executive orders as soon as Friday that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel...Reuters
Thu, May 22
White House 'MAHA' report calls out food, chemicals impact on children's health
MAHA report criticizes highly processed foods and additives in American diet It does not call for specific regulatory changes or policiesFarm group have warned that further regulation could hurt food production By Leah Douglas, Michael Erman and Renee Hickman WASHINGTON, May 22 (Reuters) - A comm...Reuters
Thu, May 22
LIVESTOCK-CME cattle futures climb ahead of Memorial Day holiday weekend
By P.J. Huffstutter CHICAGO, May 22 (Reuters) - Chicago Mercantile Exchange live cattle turned higher on Thursday, as traders adjusted their positions ahead of the Memorial Day holiday weekend and wholesale prices continued to rise on consumer beef demand, market analysts said.CME feeder cattle f...Reuters
Thu, May 22
Exxon Mobil Joliet refinery running unit at reduced rate
NEW YORK, May 22 (Reuters) - Exxon Mobil XOM.N was operating the catalytic cracker unit at its 275,000 barrel-per-day Joliet, Illinois refinery at reduced rates earlier this week, IIR Energy said on Thursday.The refinery ran its 98,000-bpd catalytic cracker unit at approximately 50% capacity due to ...Reuters
Thu, May 22
