News
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Gold drops over 1% on Powell's cautious views, easing trade tensions
May 7 (Reuters) - Gold prices extended losses on Wednesday, weighed by a stronger dollar and easing China-U.S. trade tensions, while traders were left dissatisfied by Federal Reserve Chair Jerome Powell's cautious remarks on the U.S. economy.
Reuters
Thu, May 8
Argentina's YPF swings to net loss in Q1 on growing debt, costs
BUENOS AIRES, May 7 (Reuters) - Argentine state oil company YPF YPFDm.BA sank into the red in the first quarter, it reported on Wednesday, swinging to a net profit loss of $10 million, hurt by higher costs and capital expenditures and rising debt.The loss compares to last year's net profit of $6...Reuters
Wed, May 7
China's BYD, Tsingshan scrap plans for Chile lithium plants
By Daina Beth Solomon SANTIAGO, May 7 (Reuters) - Chinese automaker BYD 002594.SZ and metals group Tsingshan are backing out of multi-million dollar plans to build lithium cathode plants in Chile, the country's economic development agency said on Wednesday. The retreat by the two huge Chines...Reuters
Wed, May 7
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, May 8 (Reuters) - Contract Target Support/Resistance Brent oil $60/$58.50res $62.42/$63.62Palm oil (3rd month)3,702/3,624 ringgitres 3,738/3,765/3,804 ringgitWTI* $56.72/$55.28res $59.05/$60.21Spot gold$3,355/$3,319res $3,436/$3,467LME copper (3r...Reuters
Wed, May 7
Britain's National Wealth Fund to lend Iberdrola $800 mln for UK power grid upgrades
LONDON, May 8 (Reuters) - Britain's National Wealth Fund will lend 600 million pounds ($802 million) to Iberdrola-owned ScottishPower to help fund upgrades to the country’s power grid, they said in a joint statement on Thursday.The announcement comes a week after Spain and Portugal suffered wide...Reuters
Wed, May 7
Atmos Energy reports quarterly profit rise, raises full-year forecast
May 7 (Reuters) - Atmos Energy ATO.N reported a rise in second-quarter profit, as the natural gas utility benefited from higher prices and customer growth.Average natural gas NGc1 prices have risen over the past few quarters, reaching a two-year high on March 10, driven by strong demand from liquefi...Reuters
Wed, May 7
Microsoft to urge senators to speed permitting for AI, boost government data access
WASHINGTON, May 7 (Reuters) - Microsoft MSFT.O President Brad Smith on Thursday will urge U.S. lawmakers to streamline federal permitting for artificial intelligence energy needs and open more government data sets for AI training, according to written testimony seen by Reuters."America’s advance...Reuters
Wed, May 7
Top potash producer Nutrien misses first-quarter profit estimates on lower prices
May 7 (Reuters) - Nutrien NTR.TO fell short of Wall Street expectations for first-quarter profit on Wednesday, as the top potash producer was impacted by lower prices and higher energy costs.Trade tensions between the United States and China following U.S. President Donald Trump's tariffs have l...Reuters
Wed, May 7
CANADA-CRUDE-Western Canada Select continues to show strength, as discount narrows again
May 7 (Reuters) - Canadian heavy crude pricing continues to show strength, as the discount on Western Canada Select (WCS) to the North American benchmark West Texas Intermediate futures (WTI) CLc1 narrowed again on Wednesday.WCS for June delivery in Hardisty, Alberta, settled at $8.75 a barrel under...Reuters
Wed, May 7
Occidental Petroleum Is Not Able To Assess The Impact Of Any Final Trade Agreements Or Implemented Tariffs On Its Businesses
Occidental Petroleum Corp OXY.N:OCCIDENTAL PETROLEUM : IS NOT ABLE TO ASSESS THE IMPACT OF ANY FINAL TRADE AGREEMENTS OR IMPLEMENTED TARIFFS ON ITS BUSINESSESSource text: [ID:n0000797468-25-000076]Reuters
Wed, May 7
CIF/FOB Gulf Grain-Soybean, corn barge bids slip
CHICAGO, May 7 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals eased on Wednesday amid weaker Chinese demand, traders said.Corn barge bids were also lower.Traders said they were not getting overly excited about plans for talks between U.S. and Chinese officials be...Reuters
Wed, May 7
US states sue over Trump freeze on funds for electric-vehicle charging stations
By David Shepardson WASHINGTON, May 7 (Reuters) - California and 15 other states sued the Trump administration on Wednesday, saying the federal government was illegally withholding billions of dollars awarded to states for building electric-vehicle charging stations.The U.S. Transportation Depar...Reuters
Wed, May 7
Marubeni Corp & Exxon Mobil Sign A Long-Term Offtake Agreement
May 7 (Reuters) - Marubeni Corp 8002.T:MARUBENI CORP AND EXXON MOBIL SIGN A LONG-TERM OFFTAKE AGREEMENTEXXONMOBIL: TO SUPPLY ABOUT 250,000 TONNES OF LOW-CARBON AMMONIA ANNUALLY ON LONG-TERM BASIS TO MARUBENIEXXONMOBIL: MARUBENI AGREED TO BUY EQUITY STAKE IN EXXONMOBIL’S LOWCARBON HYDROGEN AND AMMONI...Reuters
Wed, May 7
US judge to rule by May 14 on Rio Tinto copper project opposed by Native Americans
Judge to rule on land transfer by May 14Apache Stronghold opposes mine on religious groundsRio Tinto sees project as crucial for energy transitionBy Ernest Scheyder May 7 (Reuters) - A U.S. federal judge said he will rule by May 14 on whether to block the Trump administration from transferring Ar...Reuters
Wed, May 7
LIVESTOCK-CME cattle falter on profit-taking, choppy equity markets
By Heather Schlitz CHICAGO, May 7 (Reuters) - Chicago Mercantile Exchange live cattle and feeder cattle futures ticked down on Wednesday on falling equity markets and long liquidation, traders said. Hog futures tilted downward as Chinese retaliatory tariffs against U.S. agricultural products weig...Reuters
Wed, May 7
Exxon agrees to supply Japan's Marubeni with low-carbon ammonia
By Sheila Dang HOUSTON, May 7 (Reuters) - Exxon Mobil XOM.N has signed a long-term agreement to supply 250,000 metric tons of low-carbon ammonia annually to Japanese trading house Marubeni 8002.T, the U.S. oil producer said on Wednesday, representing Exxon's first signed customer agreement fo...Reuters
Wed, May 7
Corteva beats first-quarter profit estimates on higher seed pricing
Corteva's seed prices rose 3% in most regions, boosting core profitTotal sales fell 2% due to weakness in Europe, Latam and AsiaMay 7 (Reuters) - U.S. agrichemicals firm Corteva CTVA.N beat Wall Street expectations for first-quarter profit on Wednesday, helped by higher prices for its seeds.The ...Reuters
Wed, May 7
Texas Pacific Land misses first-quarter core profit estimates on lower oil prices
May 7 (Reuters) - Permian-focused land and royalty company Texas Pacific Land TPL.N missed Wall Street expectations for first-quarter core profit on Wednesday, as lower oil prices offset higher production.Brent crude futures LCoc1 fell on average in the first quarter from a year earlier on fears tha...Reuters
Wed, May 7
Top potash producer Nutrien misses first-quarter profit estimates
May 7 (Reuters) - Nutrien NTR.TO fell short of Wall Street expectations for first-quarter profit on Wednesday, as the top potash producer struggled with lower sales volumes.The Saskatoon, Canada-based firm posted an adjusted profit of 11 cents per share for the quarter ended March 31, compared with ...Reuters
Wed, May 7
