News
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ICE canola futures jump on tight stocks
WINNIPEG, Manitoba - May 2 (Reuters) - ICE canola futures jumped Friday on tight stocks despite weak global vegoils. • July canola RSN5 settled up $11.40 at $708 per metric ton. November RSX5 rose $4.90 to $657.40.• The surge in nearby canola values reveals how tight canola stocks have become, trade...Reuters
Fri, May 2
Oil posts biggest weekly loss in a month ahead of OPEC+ meeting
Oil down 8% this week in steepest weekly decline since MarchOPEC+ moves up meeting to discuss June output plan to May 3Group to decide whether to accelerate or slow supply hikesSigns of trade-war de-escalation help check oil's declineBy Shariq Khan NEW YORK, May 2 (Reuters) - Oil prices fell ...Reuters
Fri, May 2
US EPA plans to reduce staff to 1980s levels, cut budget by $300 million
WASHINGTON, May 2 (Reuters) - The U.S. Environmental Protection Agency on Friday announced plans to reorganize and reduce staffing to 1980s-levels and slash its budget by $300 million in fiscal year 2026. "This reorganization will bring much needed efficiencies to incorporate science into our ...Reuters
Fri, May 2
CBOT wheat futures close higher in rebound from contract lows
May 2 - Chicago Board of Trade wheat futures ended higher on Friday as the market bounced from recent contract lows, traders said.Weakness in the U.S. dollar helped support gains, they said.Traders are waiting for the U.S. Department of Agriculture to issue a weekly update on crop conditions for U.S...Reuters
Fri, May 2
USDA agrees to not freeze Maine nutrition funds over transgender athletes
By Nate Raymond May 2 (Reuters) - U.S. President Donald Trump's administration agreed on Friday to refrain from unilaterally cutting off Maine's access to federal funding used to feed school children, ending one of several legal fights stemming from the state's refusal to comply with ...Reuters
Fri, May 2
US natgas prices climb 4% to 3-week high on lower output, higher demand
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 2 (Reuters) - U.S. natural gas futures climbed about 4% to a three-week high on Friday on a drop in output over recent days and forecasts for more...Reuters
Fri, May 2
White House seeks to cut TSA funding and boost air, rail safety
By David Shepardson WASHINGTON, May 2 (Reuters) - The White House said on Friday it wants to cut funding for the Transportation Security Administration by $247 million, while boosting spending on rail and air safety. The 2026 budget proposal seeks another $360 million for the Federal Aviation Adm...Reuters
Fri, May 2
Goldman Sachs Expects OPEC+ Cuts To Push Brent Into $40S In 2026
May 2 (Reuters) - GOLDMAN SACHS:SAYS IT EXPECTS OPEC8+ TO ANNOUNCE TOMORROW A SECOND CONSECUTIVE 0.41MB/D INCREASE IN SUPPLY FOR JUNEMAINTAINS BRENT/WTI AVERAGING $63/59 IN THE REMAINDER OF 2025 AND $58/55 IN 2026SAYS CONTINUES TO EXPECT MODERATE DECLINES IN IRAN SUPPLY FROM 2025H2SAYS IT CONTINUES ...Reuters
Fri, May 2
Bunge's $34 billion Viterra merger stalled by US-China trade rift, Bloomberg reports
May 2 (Reuters) - Bunge Global's BG.N $34 billion merger with Glencore-backed GLEN.L Viterra is being stalled by trade tensions between the United States and China, Bloomberg News reported on Friday, citing people familiar with the matter."We are in the final stage of regulatory approval. We...Reuters
Fri, May 2
US drillers cut oil and gas rigs for first time in three weeks, Baker Hughes says
By Scott DiSavino May 2 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future out...Reuters
Fri, May 2
PRECIOUS-Gold heads for weekly loss amid easing trade tensions, strong jobs report
US non-farm payrolls increased by 177,000 jobs last month China evaluating US offer to negotiate tariffsGold down 2.6% so far this weekBy Anjana Anil and Sarah Qureshi May 2 (Reuters) - Gold edged lower on Friday and was headed for a second consecutive weekly loss as easing trade tensions between...Reuters
Fri, May 2
Trump budget proposes slashes to renewable energy, farms, EPA
Trump proposes $15 billion cuts to renewable energy, carbon captureCancels $6 billion for EV chargersUnclear how Congress would make cuts to funds already in US law$4.5 billion in USDA cuts includes conservation programsPlan entirely cuts EPA program on environmental justice By Timothy Gardner, Vale...Reuters
Fri, May 2
US Plains HRW Wheat-Basis bids flat in quiet trade
CHICAGO, May 2 (Reuters) - Spot hard red winter wheat basis bids were unchanged in the U.S. Plains on Friday as most buyers finished rolling their basis bids to the July contract KWN25, ahead of the May contract's expiration date, and trade remained quiet as farmers assessed weather conditions f...Reuters
Fri, May 2
Chevron meets Wall Street profit estimates but cuts buybacks in Q2
Chevron maintains dividend and share buyback strategy despite lower crude pricesProduction flat year-over-year, impacted by asset salesChevron's Q1 oil and gas earnings drop from previous yearBy Sheila Dang HOUSTON, May 2 (Reuters) - Chevron CVX.N on Friday reported first-quarter earnings tha...Reuters
Fri, May 2
Argentina to bring in second LNG liquefaction vessel in 2028
BUENOS AIRES, May 2 (Reuters) - Argentina's Southern Energy floating liquefied natural gas project said on Friday it will charter a second liquefaction vessel with capacity of 3.5 million metric tons of liquefied natural gas per year from Golar LNG GLNG.O, to arrive in the country in 2028. Argen...Reuters
Fri, May 2
US drillers cut oil and gas rigs for first time in three weeks, Baker Hughes says
By Scott DiSavino May 2 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future out...Reuters
Fri, May 2
Brazil's Petrobras hikes jet fuel prices by 0.3% in May
RIO DE JANEIRO, May 2 (Reuters) - Brazilian state-run oil firm Petrobras PETR4.SA increased the price of jet fuel sold to distributors by an average 0.3% starting May 1, it said on Friday.The adjustment represents a hike of 0.01 real ($0.0018) per liter when compared to April, said Petrobras, which ...Reuters
Fri, May 2
Trump budget proposes slashes to renewable energy, farms, EPA
Trump proposes $15 billion cuts to renewable energy, carbon captureCancels $6 billion for EV chargersUnclear how Congress would make cuts to funds already in US law$4.5 billion in USDA cuts includes conservation programsPlan entirely cuts EPA program on environmental justice By Timothy Gardner, Vale...Reuters
Fri, May 2
