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Strong ex-Gulf crude exports, soft China demand help offset tight supplies, Goldman Says
May 7 (Reuters) - Goldman Sachs said that strong crude exports outside the Gulf and subdued demand from China are helping to partially offset market tightening caused by very low Gulf exports.Goldman Sachs said in a note dated Thursday that 45% of the hit to Persian Gulf crude/condensate exports is ...Reuters
Thu, May 7
Serbia dissatisfied with refinery purchase talks with MOL, energy minister says
BELGRADE, May 7 (Reuters) - Serbia is not satisfied with Hungarian oil company MOL's MOLB.BU proposals for the purchase of its sole refinery, NIS NIIS.BEL, whose Russian owners are seeking to sell their majority stake, the country's energy minister said on Thursday. The Serbian government, r...Reuters
Thu, May 7
Fertilizer prices to remain high after Iran war as restart challenges expected, says Nutrien
By Ed White and Sumit Saha WINNIPEG, MANITOBA, May 7 (Reuters) - High fertilizer prices will remain for months and probably into 2027 regardless of how soon the Iran war ends, the world's biggest potash producer says.And despite high prices for all fertilizers even before the Iran conflict be...Reuters
Thu, May 7
METALS-Copper holds steady, supported by US-Iran peace proposal
By Pratima DesaiLONDON, May 7 (Reuters) - Copper prices held steady on Thursday as sentiment was supported by hopes for easing tensions between the United States and Iran, a softer dollar and signs of strong demand in top consumer China, traders said.Benchmark copper CMCU3 on the London Metal Exchan...Reuters
Thu, May 7
Colorado fire-bombing suspect pleads guilty to all state charges
May 7 (Reuters) - The man accused of lobbing gasoline bombs at a pro-Israel rally last year in Boulder, Colorado, killing one person and injuring at least a dozen others, pleaded guilty on Thursday to all charges he faced in state court.The fire-bombing suspect, Mohamed Soliman, 46, an Egyptian nati...Reuters
Thu, May 7
Silver price rallies to multi-week highs as Oil slump, softer Dollar lift XAG/USD
Silver (XAG/USD) extends its strong rally on Thursday, with the white metal trading around $80.60 at the time of writing, up 4.19% on the day. XAG/USD is reaching fresh multi-week highs, supported by lower Oil prices, declining US Treasury yields and broad weakness in the US Dollar (USD).
Fxstreet
Thu, May 7
PRECIOUS-Gold extends gains as US-Iran peace hopes ease inflation concerns
Oil prices extend losses China’s gold reserves rise for 18th month in AprilFocus on U.S. employment report due on Friday By Ashitha Shivaprasad May 7 (Reuters) - Gold rose for a third consecutive session on Thursday, aided by increasing optimism that a peace agreement will be achieved between the...Reuters
Thu, May 7
ROI-ENERGY WATCH: Seesawing in the Strait
By Ron Bousso LONDON, May 7 (Reuters) - Energy Watch is a biweekly recap of the events and trends shaping global energy markets from ROI Energy Columnist Ron Bousso The Middle East roller coaster not only continued this week – it accelerated. U.S. President Donald Trump on Sunday announced th...Reuters
Thu, May 7
Canadian Natural president says oil sands growth dependent on new West Coast pipeline
Higher oil sands production drives profit beat, output hits record at Jackfish projectPresident Scott Stauth says long-term growth depends on new pipeline and carbon policy talksExpansion projects on hold pending pipeline capacity; status of Pathways project unknownBy Amanda Stephenson and Varun Sa...Reuters
Thu, May 7
Iran cut back oil production by 400,000 bpd, US energy secretary says
WASHINGTON, May 7 (Reuters) - U.S. Energy Secretary Chris Wright said on Thursday that Iran appears to have cut back oil production by 400,000 barrels per day and is likely to reduce it more as its storage units fill."It looks like they've likely already cut back their production, maybe by 4...Reuters
Thu, May 7
ConocoPhillips gets Norway's nod to restart fields, boost Europe gas supply
May 7 (Reuters) - ConocoPhillips COP.N said on Thursday that Norway's energy ministry has approved development and operating plans for a project in the Greater Ekofisk area, a move expected to boost gas deliveries to Europe.The Previously Produced Fields (PPF) project is a joint redevelopment of...Reuters
Thu, May 7
Shell CFO there is consideration whether Shell needs full midstream part to LNG Canada
May 7 (Reuters) - Shell PLC SHEL.L:SHELL CEO SAYS PRICE LAG EFFECT WILL PLAY INTO Q2 FOR INTEGRATED GAS RESULTSHELL CFO SAYS EXTRA CASH IN BALANCE SHEET IS FOR ADDITIONAL BUYBACKS IN THE FUTURESHELL CEO SAYS WE HAVE DUG OURSELVES A HOLE CLOSE TO A BILLION BBLS OF CRUDE SHORTAGE, HOLE DEEPENING EVERY...Reuters
Thu, May 7
Zoetis cuts profit forecast as price-sensitive pet owners curb vet visits, shares drop
Weaker U.S. demand as pet owners cut premium treatmentsCEO Kristin Peck cites rising competition, aggressive pricing by rivalsZoetis to boost direct-to-consumer efforts, vet engagement By Sahil PandeyMay 7 (Reuters) - Zoetis ZTS.N on Thursday cut its full-year profit forecast and reported first-qua...Reuters
Thu, May 7
Chinese-owned oil tanker hit near Hormuz as US pauses ship-protection plan, report says
Chinese-owned tanker attacked near Hormuz, first such incident reportedAttacks snarl Gulf traffic as diplomacy seeks reopening strait LONDON/ATHENS, May 7 (Reuters) - A Chinese-owned oil products tanker was attacked near the Strait of Hormuz on Monday, Chinese media outlet Caixin reported, as Pre...Reuters
Thu, May 7
CME seeks to revive uranium trading with physical futures launch, sources say
CME's new contract aims to meet rising investor demand for physical uranium exposureCurrent CME uranium contract is thinly traded, with limited open interest and liquidityDemand for uranium expected to more than double by 2040, World Nuclear Association saysBy Eric Onstad LONDON, May 7 (Reute...Reuters
Thu, May 7
Nutrien Not Considering Restarting Trinidad Facilities Due To Natgas Challenges Active Sale Process Underway
May 7 (Reuters) - Nutrien Ltd NTR.TO:NUTRIEN SAYS IT HAS STARTED SALE OF BRAZILIAN SOYBEAN SEED BUSINESS, TARGETS COMPLETION IN H2 2026 - CONF CALLNUTRIEN SAYS PHOSPHATE REVIEW INCLUDES ASSET-LEVEL ASSESSMENT; SALE PROCESS DRAWS STRONG INITIAL INTEREST - CONF CALLNUTRIEN EXPECTS FURTHER PHOSPHATE MA...Reuters
Thu, May 7
Iran cut back oil production by 400,000 bpd, US energy secretary says
WASHINGTON, May 7 (Reuters) - U.S. Energy Secretary Chris Wright said on Thursday that Iran appears to have cut back oil production by 400,000 barrels per day and is likely to reduce it more as its storage units filled."It looks like they've likely already cut back their production, maybe by...Reuters
Thu, May 7
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