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Singapore fuel oil stockpiles extend slide to 7-week lows
SINGAPORE, May 8 (Reuters) - Onshore fuel oil stockpiles at key trading hub Singapore slipped further, hitting their lowest in seven weeks, as exports jumped and imports fell, data showed on Thursday.Residual fuel inventories STKRS-SIN were at 20.54 million barrels (about 3.24 million metric tons) i...Reuters
Thu, May 8
METALS-London metals mixed ahead of US-China trade talks
SHANGHAI, May 8 (Reuters) - Metal prices in London were mixed on Thursday ahead of the U.S.-China trade talks this weekend, following the Federal Reserve's warning that increasing inflation and labour market risks could fuel economic uncertainty.Benchmark copper CMCU3 on the London Metal Exchang...Reuters
Thu, May 8
Siemens Energy CEO: US tariffs are 'annoying but manageable'
FRANKFURT, May 8 (Reuters) - Siemens Energy ENR1n.DE is currently able to limit the impact of U.S. tariffs due to its roughly 5,000 U.S.-based suppliers and thanks to price increases it can pass on as most order contracts allow this, its CEO Christian Bruch said.The import tariffs, which were impose...Reuters
Thu, May 8
Wind energy firm EDPR's profit falls 24% despite strong revenues
LISBON, May 8 (Reuters) - EDP Renovaveis EDPR.LS, the world's fourth largest wind energy producer, said on Thursday its first-quarter net profit fell 24%, despite a solid revenue increase, as it did not make any capital gains in the period unlike a year earlier.The renewables arm of Portugal'...Reuters
Thu, May 8
Boeing Says China Airlines Announces Order For Boeing 777X Passenger And Freighter Models
May 8 (Reuters) - Boeing Co BA.N:CHINA AIRLINES ANNOUNCES ORDER FOR BOEING 777X PASSENGER AND FREIGHTER MODELSBOEING CO - ORDER INCLUDES 10 BOEING 777-9 AND FOUR 777-8 FREIGHTERSBOEING CO - ORDER INCLUDES 10 BOEING 777-9 AND FOUR 777-8 FREIGHTERSReuters
Thu, May 8
US and Britain expected to announce tariff deal on Thursday
U.S.-UK announcement expected at 1400 GMTDeal likely to lower tariffs on steel, autosDeal would be first since Trump launched tariff warBy Alistair Smout and Andrew MacAskill LONDON, May 8 (Reuters) - The United States and Britain are expected to announce a deal to lower tariffs on some goods on ...Reuters
Thu, May 8
Jfe Executive - Us Tariffs Expected To Cut Our Crude Steel Output By About 500,000 Tons In Fy25/26
May 8 (Reuters) - JFE Holdings Inc 5411.T:JFE HOLDINGS EXECUTIVE: EXPECT OUR CRUDE STEEL OUTPUT TO DECLINE TO 21 MILLION TONS IN FY25/26 FROM 21.95 MILLION TONS IN FY24/25JFE EXECUTIVE: US TARIFFS EXPECTED TO CUT OUR CRUDE STEEL OUTPUT BY ABOUT 500,000 TONS IN FY25/26JFE EXECUTIVE: ACTUAL IMPACT O...Reuters
Thu, May 8
Citi cuts short term Brent crude price forecast to $55 on potential US-Iran nuclear deal
May 8 (Reuters) - Citi Research lowered its three-month price forecast for Brent crude to $55 per barrel on Thursday, from a previous estimate of $60 per barrel, as U.S.-Iran nuclear deal talks resume, raising prospects for an eventual agreement. An agreement between the U.S. and Iran, which ...Reuters
Thu, May 8
PRECIOUS-Gold reverses course on US-Britain trade deal hopes; focus on China-US trade talks
Fed sees rising risks to economy as it leaves rates unchangedUS, Britain to announce trade deal on Thursday, New York Times saysPakistan vows retaliation after Indian strike over tourist deathsBy Anushree Mukherjee May 8 (Reuters) - Gold reversed course on Thursday after reports of U.S. President...Reuters
Thu, May 8
Palladium price today: Rare metals down at the start of the European session
Platinum Group Metals (PGMs) trade with a negative tone at the beginning of Thursday, according to FXStreet data. Palladium (XPD) changes hands at $963.90 a troy ounce, with the XPD/USD pair easing from its previous close at $965.90.Fxstreet
Thu, May 8
Trade war set to slash China's steel exports, aggravating oversupply at home
By Amy Lv and Lewis Jackson BEIJING, May 8 (Reuters) - China's steel exports are set to slump in the second quarter, threatening to exacerbate a supply glut at home, analysts and traders said, as the trade war and a wave of protectionism moving in its wake crimps export markets.Second-quarter...Reuters
Thu, May 8
Outokumpu Q1 Sales At EUR 1.52 Bln Vs Estimate Of EUR 1.53 Bln
May 8 (Reuters) - Outokumpu Oyj OUT1V.HE:Q1 EBITDA EUR 47 MILLIONQ1 SALES EUR 1,524 MILLION VERSUS. ESTIMATE EUR 1,530.5 MILLIONQ1 ADJUSTED EBITDA EUR 49 MILLION VERSUS. ESTIMATE EUR 48.9 MILLIONQ1 ADJUSTED EBIT EUR -5 MILLION VERSUS. ESTIMATE EUR -6.4 MILLIONQ1 EBIT EUR -7 MILLIONQ1 NET INCOME EUR ...Reuters
Thu, May 8
Wind energy firm EDPR's profit falls 24% despite strong revenues
LISBON, May 8 (Reuters) - EDP Renovaveis EDPR.LS, the world's fourth largest wind energy producer, said on Thursday its first quarter net profit fell 24%, despite a solid revenue increase, as it did not make any capital gains in the period unlike a year earlier.The renewables arm of Portugal'...Reuters
Thu, May 8
Harbour Energy Says FY Production Guidance Narrowed Upwards To 455-475 Kboepd
May 8 (Reuters) - Harbour Energy PLC HBR.L:PRODUCTION AVERAGED 500 KBOEPD IN Q1TAKING MITIGATING ACTIONS WHICH, TOGETHER WITH OUR IMPROVED PRODUCTION OUTLOOK, LARGELY OFFSET IMPACT OF LOWER COMMODITY PRICESFULL YEAR PRODUCTION GUIDANCE NARROWED UPWARDS TO 455-475 KBOEPDEXPECTED TOTAL CAPITAL EXPENDI...Reuters
Thu, May 8
RPT-Oil market 'smile' suggests Saudi Arabia's output shift was well timed
OPEC+ agreed another accelerated oil output hike for JuneOil market shows tight immediate balances Driving season boosts demand, can absorb extra OPEC+ oilNew oil from Brazil, Guyana to hit market by end 2025By Robert Harvey, Dmitry Zhdannikov LONDON, May 7 (Reuters) - The oil market appears to b...Reuters
Thu, May 8
COLUMN-Oil refiners’ robust profits defy souring outlook: Bousso
Global refining profit margins above 2024 levelsTraders refilling depleted diesel inventories after cold winterGasoline demand set to rise ahead of summerBy Ron Bousso LONDON, May 8 (Reuters) - Global oil refineries’ strong profit margins signal healthy oil consumption today, a stark contrast wit...Reuters
Thu, May 8
ANZ Sees Downside Risks For Oil Prices
May 8 (Reuters) - ANZ: SEES DOWNSIDE RISKS FOR OIL PRICESSAYS "WE MAINTAINS OUR SHORT-TERM (0-3MTH) PRICE TARGET OF $55/BBL, HOWEVER RISKS REMAIN FIRMLY SKEWED TO THE DOWNSIDE"SAYS "WE NOW PUT A HIGHER PROBABILITY ON OPEC+ FULLY UNWINDING THE HEADLINE 2.2MB/D VOLUNTARY CUTS BY THE END OF...Reuters
Thu, May 8
Citi cuts its 0-3 month Brent forecast to $55 per barrel
May 8 (Reuters) - Citi Research on Thursday lowered its 0-3 month Brent price forecast to $55 per barrel, from a previous estimate of $60."A U.S.-Iran deal and easing sanctions could see Brent move lower toward $50; no deal and even escalatory action (for instance, to curb Iran's nuclear pro...Reuters
Thu, May 8
PRESS DIGEST-British Business - May 8
May 8 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times- Britain's trade deal with India will result in a 200 million pounds ($266.90 million) annual tax revenue loss ...Reuters
Thu, May 8
