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Gold price plunges over $100 as US-China deal fuels USD rally
Gold prices tumbled over 3% on Monday, following improvements in risk appetite after weekend discussions between the US and China, which agreed to a 90-day tariff reduction. At the time of writing, the XAU/USD trades at $3,225, having hit a daily high of $3,326.
Fxstreet
Mon, May 12
Mexico expects early review of USMCA trade pact
By Aida Pelaez-FernandezMEXICO CITY, May 12 (Reuters) - Mexico expects a planned review of the trilateral trade pact with the U.S. and Canada to kick off ahead of schedule, the nation's economy minister said on Monday.The review of the USMCA trade agreement is set to begin in 2026, but Mexican E...Reuters
Mon, May 12
Pakistan finance minister: conflict with India won't have large fiscal impact
By Ariba Shahid and Charlotte GreenfieldKARACHI/ISLAMABAD, May 12 (Reuters) - The recent military escalation with arch-rival India won't have a large fiscal impact on Pakistan and can be managed within the current fiscal space, with no need for a new economic assessment, Pakistan's Finance M...Reuters
Mon, May 12
Hong Kong's CK Hutchison assures legal compliance in ports deal
May 12 (Reuters) - Hong Kong's CK Hutchison 0001.HK said on Monday that its closely monitored ports deal would strictly adhere to all required compliance standards and would never be executed illegally."This transaction would never be carried out under any illegal or non-compliant circumstan...Reuters
Mon, May 12
Brazil's Lula courts trade ties in Beijing as China spars with Trump
Lula cheers $4.5 billion in upcoming Chinese investmentsBrazil seeks investments in rail, farm export infrastructureUS tariffs on China remain elevated even after Monday dealBy Lisandra Paraguassu and Eduardo Baptista BRASILIA, May 12 (Reuters) - Brazilian officials on Monday touted President...Reuters
Mon, May 12
METALS-Industrial metals prices buoyed by US-China trade deal
By Pratima Desai LONDON, May 12 (Reuters) - Industrial metals prices rose on Monday as growth and demand fears eased after China and the U.S. agreed a deal to reduce reciprocal import tariffs and seek an end to their trade war, though traders said the market remained cautious.Benchmark copper CMC...Reuters
Mon, May 12
Black Sea CPC Blend daily oil exports set to decline in May, sources say
MOSCOW, May 12 (Reuters) - Black Sea CPC Blend oil exports via the Caspian Pipeline Consortium (CPC) system were set at 1.5 million barrels per day (or about 6 million metric tons) for May, down from some 1.6 million barrels per day in April, two industry sources said. Kazakhstan's energy mi...Reuters
Mon, May 12
North Sea Crude-Several WTI offers don't find buyer
LONDON, May 12 (Reuters) - U.S. WTI Midland crude differentials weakened on Monday as once again several offers did not find a buyer, while North Sea Forties was steady.PLATTS WINDOWIndications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).* N...Reuters
Mon, May 12
Europe Gasoline/Naphtha-Gasoline refining margins rise further
LONDON, May 12 (Reuters) - Northwest European gasoline profit margins rose by about 60 cents to $16.45 a barrel on Monday.A total of 5,800 metric tons of Eurobob E5 barges traded in the Argus window on Monday, with Gunvor selling to BP and Shell.A further 8,000 tons of E10 barges traded on Monday, w...Reuters
Mon, May 12
Aramco executive says oil demand could see additional upside if tariff disputes are resolved
By Manya Saini and Hadeel Al Sayegh DUBAI, May 12 (Reuters) - Saudi oil giant Aramco 2222.SE, a longtime cash cow for the kingdom, expects oil demand to remain resilient this year and sees further upside if the U.S. and China successfully resolve their trade dispute.Washington and Beijing agreed ...Reuters
Mon, May 12
Mexico's Pemex plans to export less crude oil as new refinery starts up, official says
By Adriana BarreraMEXICO CITY, May 12 (Reuters) - The trading arm of Mexico's state company Pemex, PMI, is anticipating a reduction in crude oil exports this year as more will be sent to local refineries, especially the new Olmeca refinery, a company director said on Monday. Once the country'...Reuters
Mon, May 12
Power Up: Oil bounces on tariff truce
May 12 (Reuters) - By Liz HamptonU.S. energy markets editor Hello Power Up readers! Oil prices are up more than 3% this morning after the United States and China agreed to a temporary deal on tariffs. This comes as oil prices posted a 4% gain last week, their first weekly increase since mid-...Reuters
Mon, May 12
StoneX to acquire French grain broker Plantureux
PARIS, May 12 (Reuters) - U.S.-based StoneX Group SNEX.O said on Monday it has agreed to acquire French grain brokerage Plantureux et Associes as it seeks to expand in agricultural commodity markets in Europe.The agreement also marks a further consolidation step for financial services firm StoneX af...Reuters
Mon, May 12
Mexico has exported some diesel from Dos Bocas, head of Pemex's trading arm says
MEXICO CITY, May 12 (Reuters) - Mexico has exported several cargoes of diesel reprocessed in its new Olmeca refinery in the port of Dos Bocas, the head of the international trading arm of state energy company Pemex said on Monday.Reuters reported in April that two tankers with ultra-low sulfur diese...Reuters
Mon, May 12
US House tax panel proposes cuts to Biden-era climate subsidies
May 12 (Reuters) - The U.S. House Ways and Means Committee issued a budget proposal that would phase out or cancel lucrative tax credits from former President Joe Biden's signature climate law, according to a draft reviewed by Reuters on Monday.The proposal, for example, would end a consumer-fac...Reuters
Mon, May 12
Growth in nuclear construction spurs increased sector specialisation among brokers and insurers
By Isha MaratheMay 1 - (The Insurer) - As mothballed nuclear reactors in the U.S. are dusted off with capital injections from Big Tech to serve the ever-growing energy demands of the public, the new sector heads at Marsh and WTW are preparing for an influx of growth in nuclear construction and subs...Reuters
Mon, May 12
U.S. nuclear power plant outages
May 12 (Reuters) - The following table lists total U.S. nuclear power generation capacity and the capacity offline due to planned and unplanned reasons, according to the daily data from the U.S. Nuclear Regulatory Commission.Total capacity EL-USTOTCAP-MW ......... 96,986 MW Total ...Reuters
Mon, May 12
US House targets big climate, clean energy rollbacks in budget proposal
By Valerie Volcovici WASHINGTON, May 12 (Reuters) - U.S. House lawmakers laid out plans on Sunday to phase out key clean energy tax credits, as well as slash billions in spending related to electric vehicles and renewable energy, fast-track gas exports and claw back unspent climate-related funds ...Reuters
Mon, May 12
US natgas prices drop 4% on rising output, lower flows to LNG export plants
US LNG export feedgas hit record high in AprilUS gas output hit record high in AprilUS gas storage about 3% over five-year normalBy Scott DiSavino May 12 (Reuters) - U.S. natural gas futures fell about 4% on Monday on a rise in output in recent days coupled with a decline in gas flows to liquefie...Reuters
Mon, May 12
