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WTI rises above $57.50, continues recovery despite concerns over rising global supply
West Texas Intermediate (WTI) crude Oil price continues to recover during Asian trading on Tuesday, hovering around $57.60 per barrel after a nearly 2% decline on Monday. However, gains were capped by concerns over rising global supply following an OPEC+ decision to accelerate output increases.
Fxstreet
Tue, May 6
CIF/FOB Gulf Grain-Corn export premiums firm, soy premiums soften
CHICAGO, May 5 (Reuters) - Export premiums for corn shipped from the U.S. Gulf firmed on Monday, reflecting brisk export demand for the grain, while soybean export premiums eased, according to traders.Weekly export inspections data underscored robust demand for U.S. corn. The U.S. Department of Agri...Reuters
Tue, May 6
Israel strikes Yemen's Hodeidah Port after Houthi attack on Israeli airport
Israeli airstrikes hit Hodeidah after Houthi missile attackNetanyahu vows retaliation for attack near main Israeli airportHouthis say attacks in solidarity with PalestiniansBy Mohammed Ghobari, Jaidaa Taha and Menna AlaaElDin ADEN/CAIRO, May 5 (Reuters) - The Israeli military said it carried out ...Reuters
Tue, May 6
Three dead after boat capsizes near San Diego in suspected migrant smuggling effort
By Karen Freifeld and Steve GormanMay 5 (Reuters) - At least three people died and seven others, including two children, were missing after a small boat capsized in choppy seas off the California coast in a suspected migrant smuggling attempt north of San Diego, U.S. officials said on Monday.Four su...Reuters
Tue, May 6
Oil ends at four-year lows as OPEC+ accelerates output hikes
NEW YORK/LONDON, May 5 (Reuters) - Oil fell by more than $1 a barrel on Monday to settle at over four-year lows as an OPEC+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain.Reuters
Tue, May 6
COLUMN-Reality check: Does timely US corn planting boost acres and yield? -Braun
By Karen BraunNAPERVILLE, Illinois, May 5 (Reuters) - U.S. farmers have hit very few snags with corn planting this spring, and the foreseeable future is barrier-free.Dry and mostly warm weather across the Corn Belt through mid-month should be favorable for farmers in the world’s largest exporter to ...Reuters
Mon, May 5
Diamondback lowers output forecast, says US shale at tipping point
By Tanay Dhumal and Shariq Khan May 5 (Reuters) - U.S. shale producer Diamondback Energy FANG.O lowered its output forecast for 2025 on Monday and said that a combination of global economic uncertainty and rising OPEC+ supply has brought U.S. oil production to a tipping point. On the same day,...Reuters
Mon, May 5
LIVESTOCK-CME cattle gain on strong cash market, resilient demand
By Tom Polansek CHICAGO, May 5 (Reuters) - Chicago Mercantile Exchange live cattle and feeder cattle futures ticked higher on Monday on a strong cash cattle market and higher boxed beef prices, analysts said.The cash market has surged higher as resilient consumer demand for beef has forced meatpa...Reuters
Mon, May 5
Fire at Valero's Benicia refinery in California extinguished; no injuries reported
May 5 (Reuters) - A fire that broke out at Valero's 145,000-barrel-per-day refinery in Benicia, California, has been extinguished, the company said on Monday."All personnel are accounted for and there are no injuries. The cause of the incident is under investigation," the company added i...Reuters
Mon, May 5
LNG Canada prepares plant for first production in June, sources say
By Curtis WilliamsHOUSTON, May 5 (Reuters) - LNG Canada has completed the cooldown of its liquefied natural gas plant in Kitimat, British Columbia, and is preparing for the plant to produce its first LNG in June, two people familiar with the process told Reuters.Cooling an LNG plant to test how its ...Reuters
Mon, May 5
House committee proposes changes to boost US oil, coal on federal lands
May 5 (Reuters) - A House of Representatives panel this week will consider sweeping changes to the nation's oil and gas drilling programs, including requiring dozens of lease sales in the Gulf of Mexico and Alaska, that could be passed in an impending budget bill. WHY IT MATTERSThe proposal is...Reuters
Mon, May 5
Labrador Iron Ore Royalty Corp expected to post earnings of 78 cents a share - Earnings Preview
Labrador Iron Ore Royalty Corp LIF.TO is expected to show a fall in quarterly revenue when it reports results on May 7 for the period ending March 31 2025The Toronto Ontario-based company is expected to report a 95.1% decrease in revenue to C$2.79 million from C$56.66 million a year ago, accordin...Reuters
Mon, May 5
Williams CEO Alan Armstrong to step down after 14 years at the helm
May 5 (Reuters) - Williams Companies WMB.N said on Monday CEO Alan Armstrong will step down after more than 14 years at the helm of the U.S. pipeline operator.Armstrong, who joined Williams nearly 40 years ago, would be succeeded by insider Chad Zamarin, effective July 1. Zamarin, who joined the com...Reuters
Mon, May 5
Shale producer Coterra Energy reports higher quarterly profit, cuts spending target
May 5 (Reuters) - U.S. shale producer Coterra Energy CTRA.N reported a rise in first-quarter profit on Monday but said it would lower its annual capital expenditure budget due to macroeconomic uncertainty.The U.S. energy sector is bracing for the potential fallout from President Donald Trump's s...Reuters
Mon, May 5
US Cash Grains-Corn basis bids flat to mixed in the Midwest
CHICAGO, May 5 (Reuters) - Corn basis bids were steady to mixed in a spot check of locations in the U.S. Midwest on Monday and soybean basis bids were steady to higher as futures for both fell. Corn basis bids fell at a processor in Decatur, Illinois, and an elevator in Blair, Nebraska. They rose at...Reuters
Mon, May 5
CANADA-CRUDE-Discount on Western Canada Select heavy crude unchanged
May 5 (Reuters) - The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) CLc1 was unchanged on Monday, remaining within the historically tight range it has been trading at this spring.WCS for June delivery in Hardisty, Alberta, s...Reuters
Mon, May 5
US TVA chief suggests coal plants could see longer life, environmental groups vow to fight
TVA's coal plants produce power equal to needs of 4 mln homesTVA said in 2021 their life cycles end in 2035TVA says now that it has power generation needs into 2050By Timothy Gardner and Nichola Groom WASHINGTON, May 5 (Reuters) - Environmental groups on Monday slammed comments by the head of...Reuters
Mon, May 5
US Gulf oil output could rise to 2.4 million barrels per day, industry leaders say
By Marianna Parraga and Sheila Dang HOUSTON, May 5 (Reuters) - Oil output from the U.S. Gulf of Mexico can continue growing despite market uncertainty created by the most geopolitical volatility in decades, oil and gas industry leaders said on Monday. U.S. President Donald Trump's global tari...Reuters
Mon, May 5
Weatherford CEO says oil below $50/bbl could hurt offshore investments
By Arathy SomasekharHOUSTON, May 5 (Reuters) - Oil prices below $50 a barrel could hurt final investment decisions on offshore projects, oilfield services company Weatherford International's WFRD.O CEO Girish Saligram said on Monday. Plans by the producer group OPEC+ to raise output and U.S. Pre...Reuters
Mon, May 5
