News
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Barclays cuts 2025, 2026 Brent crude forecast as OPEC+ accelerates output hikes
May 5 (Reuters) - Barclays lowered its Brent oil price forecast by $4 per barrel to $66/bbl for 2025 and by $2 to $60/bbl for 2026, citing the decision by OPEC+ to accelerate oil production hikes."Tariff-related developments have certainly been a drag but the OPEC+ pivot has also been a signific...Reuters
Mon, May 5
WTI tumbles below $56.00 as OPEC+ accelerates output hikes
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $55.75 during the Asian trading hours on Monday. The WTI price falls after the Organization of the Petroleum Exporting Countries and allies (OPEC+) agreed to surge production by 411,000 barrels per day in June.
Fxstreet
Mon, May 5
More than 15,000 USDA employees have taken Trump financial incentive to leave
Trump's incentive program aims to shrink federal workforce15% of USDA employees opted for financial incentive to leave, according to readoutNumber could rise as more contracts are signedBy Leah Douglas WASHINGTON, May 4 (Reuters) - More than 15,000 U.S. Department of Agriculture employees hav...Reuters
Mon, May 5
Gold gains on softer dollar, Fed decision awaited
May 5(Reuters) - Gold prices edged higher on Monday, helped by a weaker dollar, while investors awaited more clarity on trade policy between the U.S. and its trading partners, and looked forward to the Federal Reserve's policy decision due later this week.FUNDAMENTALS* Spot gold XAU= gained 0.2%...
Reuters
Mon, May 5
COLUMN-OPEC+'s 'healthy' crude oil market looks like catching a cold: Russell
By Clyde Russell LAUNCESTON, Australia, May 5 (Reuters) - If there is one thing that is almost certain in the current global crude oil market, it's that the stated reasons for the OPEC+ group of exporters increasing supply are not the real reasons.The eight OPEC+ countries that are party to v...Reuters
Mon, May 5
Gold Price Forecast: XAU/USD edges higher to near $3,250 as trade questions linger
The Gold price (XAU/USD) trades in positive territory near $3,245 during the early Asian session on Monday. The renewed concerns over the US recession and US-China trade relations provide some support to safe-haven assets like Gold.Fxstreet
Mon, May 5
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, May 5 (Reuters) - Contract Target Support/Resistance Brent oil $60.02/$60.81sup $58.74/$58.24/$57.45Palm oil (3rd month)3,904/3,951 ringgitsup 3,828/3,804/3,765 ringgitWTI* $56.81/57.65sup $55.45/54.61/$54.09Spot gold$3,209/$3,175res $3,265/$3,30...Reuters
Mon, May 5
GRAINS-Soybeans ease after rally, wheat rises for fourth session
SINGAPORE, May 5 (Reuters) - Chicago soybean futures slid on Monday for the first time in three sessions, as traders awaited updates on U.S.-China trade relations amid sluggish American exports and mounting competition from Brazil.Wheat rose to a one-week high, while corn bounced back. FUNDAMENTALS*...Reuters
Mon, May 5
Trump confirms he offered to send US troops to Mexico to help with cartels
ABOARD AIR FORCE ONE, May 4 (Reuters) - U.S. President Donald Trump on Sunday confirmed that he had offered to send U.S. troops to Mexico to help Mexican President Claudia Sheinbaum combat drug trafficking, an offer Sheinbaum disclosed on Saturday and said she had refused.Trump told reporters aboard...Reuters
Mon, May 5
Trump says he wants a fair trade deal with China
ABOARD AIR FORCE ONE, May 4 (Reuters) - U.S. President Donald Trump on Sunday said the U.S. was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal.Trump told reporters aboard Air Force One that he had no plans to speak with ...Reuters
Mon, May 5
OPEC+ to further speed up oil output hikes - Reuters
The Organization of the Petroleum Exporting Countries and allies (OPEC+) is set to further speed up oil output hikes. Citing five sources, Reuters reported that this could bring back to the market as much as 2.2 million barrels per day by November.Fxstreet
Mon, May 5
More than 15,000 USDA employees have taken Trump financial incentive to leave
Trump's incentive program aims to shrink federal workforce15% of USDA employees opted for financial incentive to leave, according to readoutNumber could rise as more contracts are signedBy Leah Douglas WASHINGTON, May 4 (Reuters) - More than 15,000 U.S. Department of Agriculture employees hav...Reuters
Sun, May 4
OPEC+ to further speed up oil output hikes, three sources say
LONDON, May 4 (Reuters) - OPEC+ plans to further accelerate oil output hikes and possibly unwind 2.2 million barrel per day of voluntary cuts through October 2025 if members of the group don't improve compliance with their production quotas, three OPEC+ sources said.Reuters
Sun, May 4
Kuwait says OPEC+ meeting to significantly affect production policy formulation
CAIRO, May 3 (Reuters) - Kuwait's oil minister said that the OPEC+ meeting would significantly affect production policy formulation in the coming period, Kuwait's state news agency reported on Saturday.OPEC+ agreed in a meeting earlier in the day to accelerate oil production hikes for a seco...Reuters
Sat, May 3
Kuwait says OPEC+ meeting to significantly affect production policy formulation
CAIRO, May 3 (Reuters) - Kuwait's oil minister said that the OPEC+ meeting would significantly affect production policy formulation in the coming period, the country's state news agency reported on Saturday.OPEC+ agreed in a meeting earlier in the day to accelerate oil production hikes for a...Reuters
Sat, May 3
US worker safety agency notifies employees of firings
By Valerie Volcovici WASHINGTON, May 3 (Reuters) - The Trump administration sent termination notices late on Friday to employees of a worker health and safety agency that provides research and services for coal miners, firefighters and others, despite appeals by a lawmaker from Trump's Republ...Reuters
Sat, May 3
OPEC+ agrees another accelerated oil output hike for June
OPEC+ countries to boost output in June by 411,000 bpdApril, May, June hike combined nearly 1 mln bpdOil prices have fallen to four-year lowSaudi Arabia unhappy with poor compliance - sourcesBy Ahmad Ghaddar, Maha El Dahan and Olesya Astakhova LONDON/DUBAI, May 3 (Reuters) - OPEC+ has agreed to a...Reuters
Sat, May 3
Motor racing-Wolff says sustainable F1 fuel is more expensive than expected
MIAMI, May 3 (Reuters) - Formula One's switch to 100% sustainable fuel from next season is proving much more expensive than expected, according to Mercedes team chief Toto Wolff.The cost of the fuel was raised by one of the engine manufacturers at a recent Formula One commission meeting that inc...Reuters
Sat, May 3
