News
Important Only
Gold tanks below $5,000 as Warsh Fed pick, US inflation weigh
Gold price (XAU/USD) extends its losses on Friday, plunges nearly 10% to sink below $4,900 after US President Donald Trump revealed his pick for Fed Chair, while a hot inflation reading in the US justified the Federal Reserve’s (Fed) decision on Wednesday to keep rates steady.
Fxstreet
Fri, Jan 30
WTO panel backs China in case against US clean energy subsidies
BERLIN/GENEVA, Jan 30 (Reuters) - A World Trade Organization panel on Friday backed a complaint by China, recommending changes to U.S. tax credits for clean energy that Beijing said discriminated against imports. The panel's report recommended the United States withdraw the measures under the In...Reuters
Fri, Jan 30
US drillers add oil and gas rigs for second week in a row, says Baker Hughes
NEW YORK, Jan 30 (Reuters) - U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since December, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.Reuters
Fri, Jan 30
Imperial Oil shares fall on lower profit; still little impact from Venezuelan situation, CEO says
Imperial Oil's shares drop on lower earningsCEO Whelan confident despite Venezuela-related market fearsImperial's upstream production and net income decline year-over-yearBy Amanda Stephenson and Pooja Menon Jan 30 (Reuters) - Canadian oil producer Imperial Oil's IMO.TO share pri...Reuters
Fri, Jan 30
PRECIOUS-Gold set for steepest daily drop since 1983; silver eyes worst day ever
Precious metals remain on course for monthly gainsTrump announces Kevin Warsh as new Fed Chair Gold hit record high of $5,594.82 on ThursdaySpot silver down nearly 22% By Anmol Choubey Jan 30 (Reuters) - Gold fell and was poised for its biggest daily loss since 1983 on Friday, as the dollar stren...Reuters
Fri, Jan 30
US Plains HRW Wheat-Basis bids steady as snow stalls movement
CHICAGO, Jan 30 (Reuters) - Basis bids for hard red winter wheat were steady in the U.S. Plains on Friday as snow stalled movement but lessened the risk of winterkill for the dormant wheat crop. Traders are monitoring winterkill risks for the Black Sea winter wheat crop.The U.S. Department of Agricu...Reuters
Fri, Jan 30
Europe Gasoline/Naphtha-Gasoline refining margins edge higher
LONDON, Jan 30 (Reuters) - Northwest European gasoline refinery profit margins rose slightly by 15 cents a barrel to $6.26 on Friday.About 8,000 metric tons of Eurobob E5 gasoline traded on barges in the Argus window, with ExxonMobil and Glencore selling to BP and Varo.Also, a total of 12,000 tons o...Reuters
Fri, Jan 30
METALS-Copper and other base metals fall on profit-taking
By Polina Devitt LONDON, Jan 30 (Reuters) - Copper prices fell on Friday, pressured by a stronger dollar and profit-taking as some investors locked in gains after the previous session's record high.Benchmark three-month copper CMCU3 on the London Metal Exchange dropped 3.3% to $13,161 a metri...Reuters
Fri, Jan 30
Trinidad and Tobago in talks with Indian Oil to revive refinery
Trinidad and Tobago will consider Venezuelan oil for refineryPrefers to award oil, gas blocks through direct talksIn talks with Chevron, TotalEnergies for blocks awardBy Nidhi Verma and Curtis Williams NEW DELHI/TRINIDAD, Jan 30 (Reuters) - Trinidad and Tobago is in talks with Indian Oil Corp IOC...Reuters
Fri, Jan 30
Chevron says Tengiz power outage caused by mechanical problem, not sabotage
HOUSTON, Jan 30 (Reuters) - Chevron CVX.N CEO Mike Wirth said on Friday that a power outage at the Tengiz oilfield in Kazakhstan was due to a mechanical issue and not sabotage or a cyberattack. An investigation into the cause of the outage was still ongoing, Wirth said during Chevron's fourth-qu...Reuters
Fri, Jan 30
US Cash Grains-Corn, soy basis steady as futures fall
CHICAGO, Jan 30 (Reuters) - Spot basis bids for corn and soybeans were mostly steady in the U.S. Midwest on Friday as futures ticked lower under pressure from a rising U.S. dollar, dealers reported. Harsh winter weather has slowed grain movement, while falling futures have given farmers little incen...Reuters
Fri, Jan 30
Chevron CEO says can process another 100,000 bpd of Venezuelan crude at its refineries
Jan 30 (Reuters) - Chevron CVX.N CEO Mike Wirth said on Friday the U.S. oil major can process an additional 100,000 barrels per day of Venezuelan crude at its refineries.The company currently processes 50,000 barrels a day of Venezuelan crude at its Pascagoula refinery on the U.S. Gulf Coast, Wirth ...Reuters
Fri, Jan 30
PRECIOUS-Gold slips nearly 8% after Trump's Fed chair choice firms dollar
Precious metals remain on course for monthly gainsTrump announces Kevin Warsh as new Fed Chair Gold hit record high of $5,594.82 on ThursdaySpot silver down 18% By Anmol Choubey Jan 30 (Reuters) - Gold prices fell as much as 8% on Friday, dipping below the $5,000 per ounce mark, as the dollar fir...Reuters
Fri, Jan 30
Chevron in talks with Iraq, Libya to evaluate exploration opportunities
Jan 30 (Reuters) - Chevron CVX.N CEO Mike Wirth said on Friday the U.S. oil major was in discussions with the governments of Iraq and Libya to look at existing producing oilfields and evaluate exploration opportunities. The company needed to see compelling investment return potential in those countr...Reuters
Fri, Jan 30
Panama court quashes CK Hutchison port contracts, clouding sales plan
Panama Ports Company says court ruling inconsistent with legal frameworksPanama may need new tenders for port operationsChina opposed U.S. majority ownership of Panamanian portsHong Kong government strongly disapproves of rulingBy Elida Moreno, Natalia Siniawski and Clare Jim PANAMA CITY/HONG KON...Reuters
Fri, Jan 30
EU wheat hits two-month high as euro and weather weigh
PARIS, Jan 30 (Reuters) - Benchmark wheat prices on Euronext rose to a two-month high on Friday as the euro fell against a rebounding dollar while intense cold forecast in Ukraine raised concern about crop losses, dealers and analysts said.March milling wheat BL2H6, the most-active position on Euron...Reuters
Fri, Jan 30
HSBC Expects Gas Prices to Decline in 2026 Despite Short-Term Pressures
Jan 30 (Reuters) - HSBC:SAYS DESPITE THE SHORT-TERM SQUEEZE THEY CONTINUE TO EXPECT GAS PRICES TO DECLINE THIS YEAR AS LNG GLUT STARTS TO MATERIALISE KEEPS EUROPEAN TTF GAS FORECASTS UNCHANGED AT $10/MBTU FOR 2026 ON AVERAGE Source text: [ID:]Further company coverage: [ ]Reuters
Fri, Jan 30
Med crude-Urals diffs stable, more tankers wait on water
MOSCOW, Jan 30 (Reuters) - Urals crude differentials to dated Brent were unchanged on Friday in thin trade, while Russian oil buyers caution leave more tankers with the grade on water, traders said.Traders are increasingly using tankers to store Russia's Urals crude as demand weakens and custome...Reuters
Fri, Jan 30
