News
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Marathon to operate refineries at 92% of combined capacity in Q3
NEW YORK, Aug 5 (Reuters) - Marathon Petroleum MPC.N plans to operate its 13 refineries at 92% of their combined 3-million barrel-per-day (bpd) capacity in the third quarter of 2025, said John Quaid, chief financial officer, during a Tuesday conference call.Reuters
Tue, Aug 5
Heat pushes US electricity demand to record peak in July, says EIA
Aug 5 (Reuters) - Electricity demand in the Lower 48 states hit fresh all-time highs on two days in the last week of July due to surging temperatures, the U.S. Energy Information Administration (EIA) said on Tuesday.Electricity demand in the U.S. climbed to a record 759,180 megawatts (MW) on July 29...Reuters
Tue, Aug 5
Exxonmobil Baytown, Texas Refinery Reports Trip Resulted In Emissions
Aug 5 (Reuters) - EXXONMOBIL: REPORTS BAYTOWN, TEXAS REFINERY CATALYTIC LIGHT ENDS (CLEU3) ETHYLENE REFRIGERATION COMPRESSOR (C-74) TRIP RESULTED IN EMISSIONSREPORTS THERE IS MINIMAL IMPACT TO PRODUCTIONREPORTS EXPECT TO MEET OUR CONTRACTUAL COMMITMENTSSOURCE: TEXAS COMMISSION ON ENVIRONMENTAL QUALI...Reuters
Tue, Aug 5
Diamondback says it should be Permian's 'consolidator of choice' as oil outlook dims
By Arunima Kumar Aug 5 (Reuters) - Shale driller Diamondback Energy FANG.O said on Tuesday it should remain the Permian Basin's "consolidator of choice" as shale activity slows and the company focuses on shareholder returns following its $26 billion merger with Endeavor Energy."We...Reuters
Tue, Aug 5
Diamondback Energy Says It Should Be The Permian's 'Consolidator Of Choice' - Conf Call
Aug 5 (Reuters) - Diamondback Energy Inc FANG.O:DIAMONDBACK ENERGY SAYS IT SHOULD BE THE PERMIAN'S 'CONSOLIDATOR OF CHOICE' - CONF CALLDIAMONDBACK ENERGY SAYS IT'S NOT BULLISH ON OIL TODAYDIAMONDBACK ENERGY SAYS 2025 IS A YEAR FOR DEBT AND SHARE COUNT REDUCTIONDIAMONDBACK ENERGY SAYS...Reuters
Tue, Aug 5
BP vows to do better for investors as profit tops forecast
BP to review upstream portfolio and consider more cost cutsBP shares have underperformed rivals for yearsBP Q2 profit $2.4 billion vs forecast $1.8 billion Raises dividend by 4%, keeps share buyback pace By Shadia Nasralla LONDON, Aug 5 (Reuters) - BP BP.L will launch a review of how best to deve...Reuters
Tue, Aug 5
US natgas prices climb 2% on lower daily output, hot weather
Daily output drops to three-week low, impacting supplyLNG export feedgas increases after plant outages endGas stockpiles 7% above normal, expected to grow furtherBy Scott DiSavino Aug 5 (Reuters) - U.S. natural gas futures climbed about 2% on Tuesday, lifted by a drop in daily output, rising gas ...Reuters
Tue, Aug 5
CBOT Trends-Wheat down 1-2 cents, corn down 1-2, soybeans up 4 to 5
CHICAGO, Aug 5 (Reuters) - The following are U.S. expectations for the resumption of grain and soy complex trading on Tuesday. WHEAT - Down 1 to 2 cents per bushelWheat futures approached their lowest points since 2020 as seasonal supply pressure from Northern Hemisphere harvests weighed on the ...Reuters
Tue, Aug 5
Expeditors posts upbeat results on higher freight volumes, customs fees
Aug 5 (Reuters) - Global freight forwarder Expeditors International of Washington EXPD.N reported second-quarter profit and revenue above Wall Street estimates on Tuesday, helped by higher airfreight and ocean container volumes and bigger custom fees.Airfreight tonnage and ocean container volume inc...Reuters
Tue, Aug 5
Public Service Enterprise beats quarterly profit estimates on increased energy demand
Aug 5 (Reuters) - Public Service Enterprise Group PEG.N on Tuesday beat second-quarter profit estimates, boosted by higher electricity demand in June as homes and businesses ramped up air conditioning during hot weather conditions.Hotter-than-normal temperatures in June boosted power demand at a tim...Reuters
Tue, Aug 5
Trump says US to initially impose 'small tariff' on pharma imports
WASHINGTON Aug 5 (Reuters) - President Donald Trump said on Tuesday the U.S. would be initially putting a "small tariff" on pharmaceutical imports before increasing the rate in a year or so."In one year, one and a half years maximum, it's going to go to 150% and then it's going t...Reuters
Tue, Aug 5
US Henry Hub natural gas prices hit three-year high in July
Aug 5 (Reuters) - U.S. spot natural gas prices at the Henry Hub NG-W-HH-SNL benchmark in Louisiana rose to a three-year high for the month of July, according to pricing data from financial firm LSEG.Gas prices averaged $3.20 per million British thermal units (mmBtu) in July, their highest for that m...Reuters
Tue, Aug 5
CORRECTED-India accuses EU, US of double standard over Russian trade
India accuses US, EU of double standard over Russian tradeHighlights EU's 67.5 billion euros in trade with RussiaSays US imports Russian uranium, palladium, fertilisersBoth US and EU have heavily cut back on trade with Moscow NEW DELHI, Aug 5 (Reuters) - India has sharply criticised the Unit...Reuters
Tue, Aug 5
PRECIOUS-Gold falls from two-week highs as dollar ticks up
Trump threatens India with harsh tariffs over Russian oil purchasesTraders see 88% chance of Fed rate cut in SeptemberUS dollar By Sherin Elizabeth Varghese Aug 5 (Reuters) - Gold slipped from a near two-week high on Tuesday as the dollar firmed, though losses were capped by bolstered bets on...Reuters
Tue, Aug 5
Top US refiner Marathon Petroleum beats quarterly profit on higher refining margins
Aug 5 (Reuters) - Marathon Petroleum Corp MPC.N beat Wall Street estimates for second-quarter profit on Tuesday, benefiting from a rebound in refining margins as fuel demand remained firm.U.S. refiners are posting upbeat quarterly profits, recovering from the losses in the previous quarter on strong...Reuters
Tue, Aug 5
Uranium Energy's Sweetwater plant on fast track for in-situ mining approval
Aug 5 (Reuters) - Uranium Energy's UEC.A Sweetwater Uranium Complex in Wyoming has been selected by the U.S. government for a fast-tracked process of approval to add in-situ recovery capability, it said on Tuesday.In March, President Donald Trump had invoked emergency powers to boost domestic pr...Reuters
Tue, Aug 5
COLUMN-Record production at Exxon and Chevron humbles European rivals: Bousso
Exxon, Chevron oil and gas production hit record in Q2Shell production drops to lowest in at least 20 years, BP's drops from year agoEuropean majors hope to close a valuation gap with US rivalsBy Ron Bousso LONDON, Aug 5 - When playing catch up, picking up the pace may not be enough. One also...Reuters
Tue, Aug 5
Copper price searching for direction – Commerzbank
The Copper market seems to still need to settle after the US tariff surprise. The Copper price traded on the LME increased slightly yesterday after it had declined last week when US President Trump announced that only semi-finished Copper products would be affected by a sector-specific tariff.Fxstreet
Tue, Aug 5
