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WTI Crude Oil extends gains as Canada wildfires, geopolitical tensions, and a broadly weaker US Dollar support prices
West Texas Intermediate (WTI) Crude Oil prices continue their upward trajectory on Tuesday, marking the second day of gains. At the time of writing, WTI is hovering near Monday's high, trading around $63.06 per barrel, reflecting a nearly 2% increase on the day.
Fxstreet
Tue, Jun 3
Carey International Increased Energy-Asset Specific Construction Financial Commitments To $870 Mln
June 3 (Reuters) - Carey International Group:CAREY INTERNATIONAL GROUP: INCREASED SIZE OF ENERGY-ASSET SPECIFIC CONSTRUCTION FINANCIAL COMMITMENTS TO $870 MILLIONCAREY INTERNATIONAL GROUP: CO & SYMX ENERGY ANNOUNCE START OF CONSTRUCTION OF CIG'S UTILITY-SCALE SOLAR PORTFOLIOReuters
Tue, Jun 3
White House: Disaster agency FEMA takes hurricane season seriously
WASHINGTON, June 3 (Reuters) - The White House said on Tuesday that the Federal Emergency Management Agency is taking severe storms seriously, following a Reuters report that the head of the agency said he was not aware of hurricane season."We know that we are into hurricane season now, and I kn...Reuters
Tue, Jun 3
Venture Global shares rise after it announces site work at CP2
June 3 (Reuters) - Venture Global Inc's VG.N shares rose almost 20% on Tuesday after the Louisiana-based LNG producer said it had begun construction on its proposed CP2 plant in the state after getting federal approval to proceed. At 20 million metric tonnes per annum, CP2 will be the single ...Reuters
Tue, Jun 3
US Plains HRW Wheat-Basis bids flat as winter wheat harvest starts
CHICAGO, June 3 (Reuters) - Spot basis bids for hard red winter (HRW) wheat held steady in the U.S. Plains on Tuesday as the winter wheat harvest began in the south of the country. The U.S. Department of Agriculture released its first harvest predictions of the year for the winter wheat crop, which ...Reuters
Tue, Jun 3
Exxon-led consortium's 2024 profit in Guyana rose 64% to $10.4 billion
Guyana accounted for $4.7 bln of Exxon's total 2024 earnings of $33.5 blnProfit up at $3.1 bln for Hess, $2.5 bln for CNOOC in GuyanaConsortium reached gross oil output of 652,000 bpd in Q4By Kemol King GEORGETOWN, June 3 (Reuters) - An oil-producing consortium in Guyana comprising Exxon ...Reuters
Tue, Jun 3
FACTBOX-How Canada's wildfires are affecting oil supply
CALGARY, Alberta, June 3 (Reuters) - Wildfires burning in Canada's oil-producing province of Alberta have reduced the country's daily crude production by about 7%. Here is a tally of affected oil production sites so far: CENOVUS ENERGY - CHRISTINA LAKE SITE: Oil sands producer Cenovus CV...Reuters
Tue, Jun 3
Shell greenlights Aphrodite gas project offshore Trinidad
June 3 (Reuters) - Energy producer Shell SHEL.L has made a positive final investment decision on its Aphrodite gas project offshore Trinidad and Tobago, the company said on Tuesday.The project is expected to produce first gas in 2027 and have a peak production of 18,400 barrels of oil equivalent per...Reuters
Tue, Jun 3
Britain has 12 days to save bioethanol industry, says AB Foods
Industry warns last month's UK-US trade deal will hit operationsSeeks short-term financial aid of up to 150 million pounds Says thousands of jobs at stake By James Davey LONDON, June 3 (Reuters) - One of Britain's biggest bioethanol producers warned the government on Tuesday that unless i...Reuters
Tue, Jun 3
METALS-Copper steadies amid tariff uncertainty
By Polina Devitt LONDON, June 3 (Reuters) - Copper prices steadied on Tuesday as uncertainty about U.S. tariffs policy kept the premium of U.S. copper futures against the London benchmark high, offsetting weaker-than-expected factory activity in top metals consumer China.Benchmark three-month cop...Reuters
Tue, Jun 3
Gold Reserve affiliate submits bid in Citgo parent's auction
HOUSTON, June 3 (Reuters) - An affiliate of miner Gold Reserve GRZ.V has submitted a bid during the topping period of a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, the company said on Tuesday.Following the court's selection of a $3.7 billion offer ...Reuters
Tue, Jun 3
EU wheat hovers near lows with Ukraine and crop conditions in focus
PARIS, June 3 (Reuters) - European wheat futures ended down slightly on Tuesday to remain near contract lows as traders assessed further Ukrainian strikes on Russian targets, as well as improved U.S. crop ratings that underscored favourable global supply prospects.September milling wheat BL2U5, the ...Reuters
Tue, Jun 3
Gold price falls over 1% as strong US jobs data lifts US Dollar
Gold price trims some of its Monday gains as it edges down over 1% on Tuesday following jobs data from the United States (US), which reveals that the labor market remains tight. At the same time, the overall strength of the Greenback weighed on the non-yielding metal.
Fxstreet
Tue, Jun 3
WRAPUP 1-Global alarms rise as China's critical mineral export ban takes hold
Global automakers warn of production halts without China's critical mineralsExecutives and diplomats are scrambling to get meetings in BeijingTrump and Xi expected to talk this week amid trade war By Jarrett Renshaw and Ernest Scheyder June 3 (Reuters) - Alarm over China's stranglehold on...Reuters
Tue, Jun 3
Europe Gasoline/Naphtha-Gasoline profit margins inch up
LONDON, June 3 (Reuters) - Northwest European gasoline profit margins rose to about $16.08 a barrel on Tuesday.A total of 8 metric tons of Eurobob E5 barges traded in the Argus window, with Varo and TotalEnergies selling to Trafigura, BP and MB Energy, formerly known as Mabanaft.A further 3 tons of ...Reuters
Tue, Jun 3
Shell greenlights Aphrodite gas project offshore Trinidad, company says
June 3 (Reuters) - Energy producer Shell SHEL.L has made a positive final investment decision on is Aphrodite gas project offshore Trinidad and Tobago, the company said on Tuesday.The project is expected to produce first gas in 2027 and have a peak production of 18,400 barrels of oil equivalent per ...Reuters
Tue, Jun 3
US Cash Grains-Corn bids mixed, soy steady as futures rise
CHICAGO, June 3 (Reuters) - Spot soybean bids were steady, while corn bids were steady to mixed in the U.S. Midwest on Tuesday as planting wound to a close and selling remained relatively slow.The U.S. Department of Agriculture's first rating of the soybean crop this year came in at 67% good to ...Reuters
Tue, Jun 3
Trump job cuts hobble NOAA team that reopens ports after hurricanes, sources say
By Valerie VolcoviciWASHINGTON, June 3 (Reuters) - A Florida-based federal emergency response team that reopens U.S. ports after storms and accidents is unstaffed this hurricane season largely due to widespread federal workforce reductions driven by the Trump administration, according to two sources...Reuters
Tue, Jun 3
Aerospace sector warns new US tariffs could put air safety, supply chain at risk
WASHINGTON, June 3 (Reuters) - A group representing major U.S. and global aeropsace companies on Tuesday warned new tariffs on imported commercial aircraft, jet engines and parts could put air safety and the supply chain at risk or have unintended consequences.The Commerce Department last month open...Reuters
Tue, Jun 3
Local debt markets could shield Africa as funding sources shrink, Moody's says
Ability to borrow in local currencies cuts riskChina’s lending to Africa has turned net negativeOil prices at $65/bbl constrain revenue for exporter countriesBy Libby GeorgeLONDON, June 3 (Reuters) - African countries should focus on developing liquid local debt markets in their home currencies to p...Reuters
Tue, Jun 3
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