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Gold Price Forecast: XAU/USD remains shy of $3,400, holds above 20-day EMA
Gold price (XAU/USD) struggles to break above the key level of $3,400.00 during the European trading session on Thursday. The precious metal hesitates to extend upside even as Federal Reserve (Fed) officials have shown support for interest rate cuts in the remainder of the year.
Fxstreet
Thu, Aug 7
ConocoPhillips beats estimates for second-quarter profit
Aug 7 (Reuters) - ConocoPhillips COP.N beat Wall Street estimates for second-quarter profit on Thursday, as a rise in output helped the oil and gas producer offset a hit from weak crude prices.On an adjusted basis, ConocoPhillips reported a profit of $1.42 per share for the three months ended June 3...Reuters
Thu, Aug 7
Brazil's fish industry, hit with a 50% US tariff, seeks a lifeline
By Luciana MagalhaesSAO PAULO, Aug 6 (Reuters) - Brazil's seafood industry is sounding the alarm to pressure the federal government for immediate relief as it grapples with mounting fears of job losses and bankruptcies as a result of the 50% tariffs the U.S. imposed on most Brazilian exports on ...Reuters
Thu, Aug 7
RPT-COLUMN-US energy exporters face likely letdown in any US-India trade deal: Maguire
By Gavin MaguireLITTLETON, Colorado, Aug 7 (Reuters) - The fresh 25% tariffs slapped on Indian goods by U.S. President Donald Trump this week are being viewed by many as a negotiating tactic designed to force India to buy more U.S. energy products and other goods going forward. But even though India...Reuters
Thu, Aug 7
US crude exports hit four-year low in July as WTI loses appeal abroad
Exports ease to 3.1 mln bpd, lowest since Oct 2021 - KplerExports to Asia fall to lowest since January 2019 - KplerLow oil stocks keep barrels within the United StatesWTI arbitrage to Asia seen open in the fourth quarterRising OPEC+ supply could weigh on U.S. crude demand By Arathy Somasekhar HOU...Reuters
Thu, Aug 7
India's Reliance warns tariff uncertainties could hit trade flows
Aug 7 (Reuters) - Reliance Industries RELI.NS, India's biggest buyer of Russian oil, said in its annual report on Thursday that geopolitical and tariff-related uncertainties could hurt trade flows and the demand-supply balance.The operator of the world's largest refining complex said crude p...Reuters
Thu, Aug 7
Mattress maker Somnigroup's Q2 sales jumps 52.5%, buys stake in Fullpower-AI for $25 mln
OverviewSomnigroup Q2 sales rise 52.5% but miss analyst expectations, per LSEG dataAdjusted EPS for Q2 beats consensus, reflecting strong operational performanceCompany raises full-year 2025 financial guidance, indicating confidence in business strategyAcquires 15.6% equity interest in biosensing AI...Reuters
Thu, Aug 7
Talen Energy quarterly profit falls on higher expenses, Susquehanna outage
Aug 7 (Reuters) - Utility Talen Energy TLN.O reported a fall in second-quarter profit on Thursday, hurt by higher energy purchase costs and maintenance expenses associated with a refueling outage at its Susquehanna nuclear facility.In May, the utility identified extra maintenance work in Unit 2 of t...Reuters
Thu, Aug 7
PRECIOUS-Safe-haven gold drifts higher on tariff turmoil, Fed cut hopes
Trump's higher tariff rates hit goods from major US trading partnersTraders see 93% chance of Fed rate cut in SeptemberFed needs to respond to slowing US economy, says KashkariUS dollar By Sherin Elizabeth Varghese Aug 7 (Reuters) - Gold edged higher on Thursday as renewed trade tensions spar...Reuters
Thu, Aug 7
Canadian Natural tops profit estimates as output rise offsets crude price dip
Aug 7 (Reuters) - Canadian Natural Resources CNQ.TO surpassed expectations for second-quarter profit on Thursday, as a rise in oil and natural gas production helped offset a decline in crude prices.Oil producers in the country have been benefiting from the commencement of operations at the expanded ...Reuters
Thu, Aug 7
Fire at Russia's Afipsky oil refinery extinguished after drone attack
MOSCOW, Aug 7 (Reuters) - A fire at the Afipsky oil refinery in Russia's Krasnodar region, caused by fallen drone debris, was extinguished, local emergency services said on Thursday.The Russian Defence Ministry said air defence systems had shot down nine Ukrainian drones over the region overnigh...Reuters
Thu, Aug 7
Uniper CEO: U.S. will be a significant part of LNG sourcing
FRANKFURT, Aug 7 (Reuters) - The head of German energy utility Uniper UN0k.DE on Thursday said that United States resources will feature largely in its future imports of liquefied natural gas (LNG) for Europe and other destinations."We are looking for new sources to diversify our gas portfolio a...Reuters
Thu, Aug 7
Enerflex Q2 revenue steady at $615 mln, record EBITDA
OverviewEnerflex reports Q2 revenue of at $615 mln, up from $614 mln in Q2/24Record adjusted EBITDA of $130 mln, driven by cost-saving initiativesNet earnings rose to $60 mln, benefiting from improved operational efficienciesOutlookEnerflex expects 2025 capital expenditures of $120 mlnCompany antici...Reuters
Thu, Aug 7
Ukraine says it struck Russia's Afipsky oil refinery
KYIV, Aug 7 (Reuters) - The Ukrainian military said on Thursday its drone units had hit the Afipsky oil refinery in Russia's Krasnodar region, sparking flames in gas processing equipment.Russian emergency services reported a fire at the plant caused by falling drone debris.Reuters
Thu, Aug 7
LNG firm Cheniere Energy reports jump in second-quarter profit
Aug 7 (Reuters) - Cheniere Energy LNG.N reported a jump in second-quarter profit on Thursday, helped by steady liquefied natural gas (LNG) demand.The company reported net income attributable to Cheniere of $1.63 billion, or $7.30 per share, for the quarter ended June 30, compared with $880 million, ...Reuters
Thu, Aug 7
US cattle ranchers slowly start to rebuild decimated herd
Ranchers cautiously rebuild cattle herds after drought easesConsumers have paid record beef prices due to low supplyMeatpackers want larger herds to reduce cattle pricesBy Tom Polansek August 7 (Reuters) - Nebraska cattle rancher Craig Uden bought 200 extra mother cows and their babies over a few...Reuters
Thu, Aug 7
U.S. secures strategic transit corridor in Armenia-Azerbaijan peace deal
Armenia and Azerbaijan in conflict since the late 1980s over Nagorno-Karabakh Peace deal could transform energy-rich South Caucasus regionArmenia to grant US rights for transit corridor, named after TrumpBy Steve HollandWASHINGTON, Aug 7 (Reuters) - When U.S. President Donald Trump welcomes the le...Reuters
Thu, Aug 7
Low global diesel supplies support crude prices despite OPEC+ boost
OPEC+ unwinds output cuts amid tight oil stocksAnalysts surprised by strong diesel demand amid refinery closuresRefinery closures and maintenance tighten supplyUS trade policies could exacerbate diesel shortageBy Shariq Khan, Trixie Yap and Seher Dareen NEW YORK, Aug 7 (Reuters) - Low diesel stoc...Reuters
Thu, Aug 7
ASIA COFFEE-Vietnam coffee trading muted on low supplies, heavy rains in Indonesia
By Phuong Nguyen and Mas Alina Arifin HANOI, Aug 7 (Reuters) - Coffee trading in Vietnam slowed at the end of the crop season this week due to low stockpiles and weaker demand, while heavy rains were recorded in Indonesia's coffee growing area in the middle of the harvest, traders said on Thu...Reuters
Thu, Aug 7
