News
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China’s PBOC Buys Gold for Eight Consecutive Months, but Gold Prices Remain "Easier to Defend than to Advance"
TradingKey - Since July, gold prices have weakened due to easing geopolitical tensions and a cooling trade dispute. Although the People's Bank of China (PBoC) has been continuously increasing its gold reserves for eight months, providing some support to prices, momentum for a significant rally
TradingKey
Mon, Jul 7
US Henry Hub natural gas prices hit three-year high in June
July 7 (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 June, according to pricing data from financial firm LSEG.Gas prices averaged $3.02 per million British thermal units (mmBtu) in June, their highest for that ...Reuters
Mon, Jul 7
Tropical Storm Chantal brings heavy rain to Mid-Atlantic states
By Scott VincentJuly 7 - (The Insurer) - Flash flood warnings remain in place across the Mid-Atlantic U.S. after Tropical Storm Chantal's landfall close to the border between South and North Carolina on Sunday morning. Chantal, the third named storm of the 2025 Atlantic season, has since weakene...Reuters
Mon, Jul 7
PRECIOUS-Gold slips as dollar ticks higher, US tariff deadline looms
Trump says US nears trade deals with several countriesDollar up 0.2% against its rivalsTrump threatens extra 10% tariffs on BRICS countriesPlatinum, palladium down more than 2% eachBy Brijesh Patel July 7 (Reuters) - Gold prices slipped to a near-one-week low on Monday due to an uptick in the U.S...Reuters
Mon, Jul 7
Camp Mystic says 27 campers, counselors dead in Texas flooding
July 7 (Reuters) - Camp Mystic said on Monday that 27 campers and counselors died in catastrophic flooding on the Guadalupe River in central Texas."Camp Mystic is grieving the loss of 27 campers and counselors following the catastrophic flooding on the Guadalupe River," the camp said in a st...Reuters
Mon, Jul 7
OPEC Accelerates Output Unexpectedly, Oil Price Support to Rely on Only “Two Factors” in Second Half of 2025
TradingKey - OPEC+ surprised the market by announcing its fourth consecutive round of crude oil production increases at its early July meeting — the scale of the increase far exceeded expectations and triggered a new supply shock, deepening concerns over oversupply in 2025 and weighing on oil prices
TradingKey
Mon, Jul 7
Shell flags profit hit from weakness in gas trading and chemicals business
Narrows guidance on second-quarter LNG and gas outputUnplanned US maintenance weighs on chemicals businessShares underperform wider European energy indexBy Shadia NasrallaLONDON, July 7 (Reuters) - Shell SHEL.L expects quarterly earnings to be hit by weaker trading in its integrated gas division and...Reuters
Mon, Jul 7
Petronas ships its first LNG cargo to Japan from its new facility in Canada
KUALA LUMPUR, July 7 (Reuters) - Malaysia's state energy firm Petronas on Monday said it has successfully shipped its first liquefied natural gas (LNG) cargo to Japan from its newly operational LNG facility in Kitimat, Canada.Petronas has a 25% stake in the Kitimat LNG plant in British Columbia ...Reuters
Mon, Jul 7
Gold Price Forecast: XAU/USD slumps to near $3,300, 50-day EMA acts as key support
Gold price (XAG/USD) is down almost 0.8% to near $3,300 during the European trading session on Monday. The yellow metal faces a sharp selling pressure as risk-off market sentiment has increased safe-haven demand of the US Dollar (USD).Fxstreet
Mon, Jul 7
GRAINS-Wheat falls more than 2% on supply pressure
Northern Hemisphere harvest pressure drags down wheat pricesRussian government cuts wheat export tax to zero, IFX reportsCrop-friendly weather boosts outlook for corn and soybeansBy Naveen Thukral and Michael Hogan SINGAPORE/HAMBURG, July 7 (Reuters) - Chicago wheat futures fell more than 2% on M...Reuters
Mon, Jul 7
US Gulf Coast fuel oil imports at record low as refiners opt for heavier crude
US refiners shift to domestic output, reducing fuel oil importsRunning heavy crude preferred over high-sulphur fuel oil due to costMiddle East demand and Russian supply issues tighten fuel oil marketBy Georgina McCartney HOUSTON, July 7 (Reuters) - Fuel oil imports into the refinery hub on the U....Reuters
Mon, Jul 7
INSIGHT-Illegal loggers profit from Brazil's carbon credit projects
Polluters can offset their emissions with carbon creditsMany projects in Brazil's Amazon linked to illegal loggingLeading entrepreneur arrested in "Operation Greenwashing"By Brad Haynes, Jackie Botts, Ricardo Brito, Jake SpringPORTO VELHO, Brazil, July 7 (Reuters) - Companies around the ...Reuters
Mon, Jul 7
Kremlin declines comment on potential state seizure of gold producer Uzhuralzoloto
MOSCOW, July 7 (Reuters) - The Kremlin on Monday declined to comment on Russian prosecutors' efforts to seize shares in gold producer Uzhuralzoloto UGLD.MM, and said it was a matter for law enforcement.A Russian court last week said the Prosecutor General had filed a lawsuit seeking to transfer ...Reuters
Mon, Jul 7
OPEC+ set to agree another 550,000 bpd hike for September – Reuters
Citing five sources familiar with the discussions, Reuters reported on Monday that OPEC+ oil producers are set to approve another output boost by 550,000 barrels per day (bpd)for September when it meets next on August 3.Fxstreet
Mon, Jul 7
EXCLUSIVE-OPEC+ set to complete big oil output cut unwinding in Sept, sources say
OPEC+ to agree another 550,000 bpd hike for Sept -sourcesOPEC+ to complete unwinding of 2.17 mln bpd cutUAE to complete output boost in line with new quotaOutput jump since April set to be 2.47 mln bpd or 2.5% of global demandBy Alex Lawler, Olesya Astakhova and Ahmad Ghaddar LONDON, July 7 (Reut...Reuters
Mon, Jul 7
Indonesia, U.S. companies including Pertamina, Exxon to sign $34 bln deal
JAKARTA, July 7 (Reuters) - Companies from Indonesia and the United States are expected to sign a memorandum of understanding worth $34 billion, including state energy Pertamina [RIC:RIC:PERTM.UL], Exxon Mobil Corp XOM.N and Chevron CVX.N, a government official said on Monday.The deal to be signed o...Reuters
Mon, Jul 7
