News
Important Only
US targets geothermal projects for emergency permitting
By Valerie VolcoviciWASHINGTON, May 30 (Reuters) - The U.S. Department of the Interior said on Friday it was implementing emergency permitting procedures to accelerate reviews of geothermal energy projects as part of President Donald Trump's energy agenda.The projects that will be fast-tracked i...Reuters
Fri, May 30
US Cash Grains-Corn bids flat, soy higher as planting progresses
CHICAGO, May 30 (Reuters) - Spot soybean and corn basis bids were mostly steady in the U.S. Midwest on Friday following a week of quiet trading and minimal movement as most farmers focused on seeding the rest of their corn and soy crops.Soy bids increased at an Ohio elevator and an Iowa river termin...Reuters
Fri, May 30
Europe Gasoline/Naphtha-Gasoline profit margins edge lower
LONDON, May 30 (Reuters) - Northwest European gasoline profit margins fell slightly to about $15 a barrel on Friday despite a drop in regional inventories, as trading activity slowed down.A total of 4,800 metric tons of Eurobob E5 barges traded in the Argus window, with Litasco and ExxonMobil sellin...Reuters
Fri, May 30
METALS-Copper on track for biggest monthly rise since September
By Polina Devitt LONDON, May 30 (Reuters) - Copper prices fell on Friday under pressure from a stronger dollar, but remained on course for their biggest monthly rise in eight months due to tighter nearby supply, highlighted by the premium for nearby copper contracts against those further out.Benc...Reuters
Fri, May 30
Nigeria's Dangote refinery continues WTI buying spree in July
LONDON, May 30 (Reuters) - Nigeria's Dangote oil refinery will import at least five million barrels of U.S. WTI crude oil in July, three trading sources told Reuters, continuing its buying spree after a potential record tally in June.The giant new 650,000 barrel per day (bpd) capacity oil refine...Reuters
Fri, May 30
US crude oil output hit record high in March, while demand fell, says EIA
May 30 (Reuters) - U.S. crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration (EIA) said in its Petroleum Supply Monthly (PSM) report on Friday.U.S. crude output rose to 13.488 million barre...Reuters
Fri, May 30
OPEC+ exports set to rise – TDS
CTAs will continue to sell crude and industrial metals (x-copper) in most scenarios for prices by this time next week. In the imminent term, CTA selling activity will continue to weigh on price action into the OPEC meeting, TDS' Senior Commodity Strategist Daniel Ghali notes.
Fxstreet
Fri, May 30
US axes 24 clean energy projects, including at Exxon's Baytown
By Timothy GardnerWASHINGTON, May 30 (Reuters) - The U.S. has axed awards to 24 green energy projects including to an Exxon refinery complex in Texas issued during former President Joe Biden's administration that totaled more than $3.7 billion, the Energy Department said on Friday. The administr...Reuters
Fri, May 30
Silver Price Forecast: XAG/USD strives to hold $33 amid renewed Sino-US trade worries
Silver price (XAG/USD) is down almost 1% near the key level of $33.00 during North American trading house on Friday. However, the white metal strives to gain ground as renewed trade tensions between the United States (US) and China are limited the upside in the US Dollar (USD).
Fxstreet
Fri, May 30
ARA oil product stocks fall 1.5%, Insights Global data shows
LONDON, May 30 (Reuters) - Total oil product stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 1.5% on the week, data from Dutch consultancy Insights Global showed on Friday.Total stocks stood at 5.62 million metric tons, the data showed.Gasoil stock...Reuters
Fri, May 30
US implements emergency permitting procedures to speed geothermal energy development
WASHINGTON, May 30 (Reuters) - The U.S. Department of the Interior said on Friday it was implementing emergency permitting procedures to accelerate reviews of geothermal energy development projects.“Geothermal energy is a reliable energy source that can power critical infrastructure for national sec...Reuters
Fri, May 30
EXCLUSIVE-White House considers plan to clear record backlog of small refinery biofuel waivers
Backlog of exemption requests built up during President Biden's administration Trump administration looking to unwind the backlog without disrupting marketPlan under consideration would rule on 2024 requests, delay othersBy Jarrett Renshaw and Stephanie Kelly WASHINGTON, May 29 (Reuters) - Th...Reuters
Fri, May 30
ICE to change arabica coffee futures, to price them in metric tons
By Marcelo TeixeiraNEW YORK, May 30 (Reuters) - The Intercontinental Exchange (ICE), which operates the arabica coffee futures KCc1 that are the global price benchmark for that type of coffee, will change the way those contracts are offered in coming months, according to an ICE statement.The exchang...Reuters
Fri, May 30
US natgas prices hold near 2-week high as higher demand offsets higher output
US LNG export feedgas down in May after hitting record in AprilUS gas output falls in May after reaching record last monthUS gas storage is about 4% over the five-year normalBy Scott DiSavinoMay 30 (Reuters) - U.S. natural gas futures held near a two-week high on Friday as forecasts for more demand ...Reuters
Fri, May 30
Gunvor, SOCAR neck and neck to buy refiner Italiana Petroli, sources say
By Francesca Landini and Valentina ZaMILAN, May 30 (Reuters) - Global commodity trader Gunvor and State Oil Company of Azerbaijan (SOCAR) are neck and neck in the race to buy oil refiner Italiana Petroli, three sources close to the matter said on Friday, as an end-May deadline to submit final offers...Reuters
Fri, May 30
EUROPE GAS-Prices fall on Trump China comments, oil market drop
May 30 (Reuters) - Dutch and British wholesale gas prices fell on Friday afternoon after being quite rangebound earlier in day, prompted by fresh concerns over a U.S.-China trade war and falling oil prices.The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 was down 0.66 euro at 34.2...Reuters
Fri, May 30
Thyssenkrupp putting 20,000 jobs at risk in overhaul, says union
BERLIN, May 30 (Reuters) - Germany's IG Metall union sees around a fifth of jobs at Thyssenkrupp TLAG.DE at risk, a senior official was quoted as saying on Friday, following the conglomerate's recent plans to turn into a holding company.On Monday, Thyssenkrupp said it would pursue plans to s...Reuters
Fri, May 30
