News
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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
Top Senate Democrat seeks probe into Newark flight woes
Travelers face long flight delays and cancellationsUnited cuts Newark flights to 293 a day from 440Transportation secretary to present a plan for updating technologyBy David Shepardson WASHINGTON, May 5 (Reuters) - Senate Democratic Leader Chuck Schumer on Monday called for a probe into ongoing f...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 plan in response to the macroeconomic uncertainty.The Houston, Texas-based company said its net income rose to $516 million, or 68 cen...Reuters
Mon, May 5
US Plains HRW Wheat-Basis bids even in quiet trade, futures lower
CHICAGO, May 5 (Reuters) - Spot hard red winter wheat basis bids were unchanged in the U.S. Plains on Monday with most buyers finished rolling their basis bids to the July contract KWN25 ahead of the May contract's expiration date, and futures settling lower. For the week ending May 4, the U.S. ...Reuters
Mon, May 5
US Cash Crude-Grades little changed after OPEC decides to expedite output hikes
May 5 (Reuters) - U.S. cash crude grades were little changed on Monday, dealers said, as traders assessed OPEC's decision to expedite its output hikes. On Saturday, OPEC+ agreed to further speed up oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per...Reuters
Mon, May 5
Williams beats first quarter profit estimates, says CEO to step down
May 5 (Reuters) - U.S. pipeline operator Williams WMB.N beat first-quarter profit estimates on Monday, and said Alan Armstrong will step down as the chief executive officer, effective July 1.The company posted an adjusted profit of 60 cents per share for the quarter ended March 31, compared with ave...Reuters
Mon, May 5
Valero Says Fire At Its Benicia, California Refinery Has Been Extinguished
May 5 (Reuters) - VALERO ENERGY CORP:SAYS FIRE OCCURRED AT VALERO’S BENICIA, CALIFORNIA REFINERY HAS BEEN EXTINGUISHEDSAYS ALL PERSONNEL ACCOUNTED FOR AND THERE ARE NO INJURIES, CAUSE OF INCIDENT IS UNDER INVESTIGATION AT VALERO’S BENICIA, CALIFORNIA REFINERY RELATED: nL1N3RD0RREFINERY CAPACITY: 145...Reuters
Mon, May 5
Diamondback Energy beats first-quarter profit estimates
May 5 (Reuters) - U.S. shale producer Diamondback Energy FANG.O beat estimates for first-quarter profit on Monday, as the company benefited from higher natural gas prices. The company reported an adjusted profit of $4.54 per share for the quarter ended March 31, compared with analysts' average e...Reuters
Mon, May 5
Supply issues, compliance costs drive up California fuel prices, EIA says
By Nicole Jao May 5 (Reuters) - Drivers in California pay higher prices at the pump than any other state in the country due to supply issues, costs from environmental compliance and fuel requirements, and high state taxes and fees, the U.S. Energy Information Administration said on Monday.In Marc...Reuters
Mon, May 5
Crude Oil prices stabilize after OPEC output hike sends barrel bids lower
West Texas Intermediate (WTI) Crude Oil prices are stabilizing on Monday, clawing back near-term losses after the Organization of the Petroleum Exporting Countries (OPEC) announced it would begin stepping up its internal production quotas beginning in June.Fxstreet
Mon, May 5
ICE canola futures fall on vegoils, crude oil weakness
WINNIPEG, Manitoba - May 5 (Reuters) - ICE canola futures dropped in sympathy with competing vegoils and crude oil on Monday.• July canola RSN5 settled down $6.30 at $701.70 per metric ton. November RSX5 settled down 50 cents at $656.90. Contracts for 2026 all slightly rose.• The old crop/new crop s...Reuters
Mon, May 5
CBOT wheat futures follow corn futures lower
May 5 - Chicago Board of Trade wheat futures fell on Monday on spillover weakness from corn futures, though weather concerns in China and the Black Sea helped add a floor to prices.Ahead of the U.S. Department of Agriculture's weekly crop progress report, analysts on average expect the USDA to r...Reuters
Mon, May 5
GRAINS-Soybeans fall as traders await US-China trade talks
Soybean traders await news of US-China trade talksPositive US crop condition, planting report expectedBy Heather Schlitz CHICAGO, May 5 (Reuters) - Chicago soybean futures fell on Monday as traders awaited updates on possible U.S.-China trade talks amid mounting competition from Brazil, traders s...Reuters
Mon, May 5
US natgas prices slide 2% on lower demand forecasts, LNG flows
US LNG export feedgas hit record high in AprilUS gas output hit record high in AprilUS gas storage about 1% over five-year normalBy Scott DiSavino May 5 (Reuters) - U.S. natural gas futures slid about 2% on Monday on forecasts for lower demand next week than previously expected and a decline in t...Reuters
Mon, May 5
CBOT soybeans falter as traders await trade talks
CHICAGO, May 5 (Reuters) - Chicago Board of Trade soybeans fell on Monday as traders awaited updates on possible U.S.-China trade talks amid mounting competition from Brazil, traders said.China is evaluating an offer from Washington to hold talks over tariffs, China's Commerce Ministry said on F...Reuters
Mon, May 5
CBOT corn eases on expectations of speedy planting progress
CHICAGO, May 5 (Reuters) - Chicago Board of Trade corn futures fell on expectations that the U.S. Department of Agriculture will report good planting progress in its weekly crop progress report after the market close on MondayU.S. farmers were estimated to have planted 41% of the nation's corn c...Reuters
Mon, May 5
