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Marathon Petroleum profit beats estimates as Iran war boosts refining margins
Marathon boosts share buyback by $5 billion, total authorization now $8.6 billionCEO says crude sourcing largely shields company from Middle East disruptionsFirst-quarter results partly offset by higher operating costsBy Nicole Jao and Arunima Kumar NEW YORK, May 5 (Reuters) - Marathon Petroleum ...Reuters
Tue, May 5
Europe Gasoline/Naphtha-Gasoline refining margins ease after multi-year highs
LONDON, May 5 (Reuters) - Northwest European gasoline refinery profit margins eased by $2.91 to $27.68 a barrel on Tuesday after rising to their highest last week since August 2023. A total of 30,000 metric tons of E5 gasoline barges traded in the Argus window as BP, Shell, Varo, Gunvor and Trafigur...Reuters
Tue, May 5
US industries, trade groups split over Trump's tariff probe on excess factory capacity
USTR launches four-day hearing on tariff probe to curb excess industrial capacityTrump eyes Section 301 probes to rebuild tariff leverage lost to Supreme Court rulingProbe targets capacity utilization, trade surpluses from China, 15 other trading partnersSteelmakers argue that steel glut coming from...Reuters
Tue, May 5
REFILE-FOCUS-Weight-loss drugs fuel protein-rich whey craving
Producers expand protein-rich foods to meet consumer shiftWhey prices surge nearly 90% in past year, StoneX data showShortages as demand for high-end whey outstrips capacityConsumer scepticism may hold back precision fermentationBy Alexander Marrow LONDON, May 5 (Reuters) - Global dairy companies...Reuters
Tue, May 5
RPT-Spirit Airlines lawyer says high jet fuel prices left carrier no alternative but shutdown
May 5 (Reuters) - A lawyer for defunct Spirit Airlines said Tuesday that sharply higher jet fuel prices left "no remaining way out" of bankruptcy and forced the budget carrier's shutdown as it seeks approval for an expedited plan to sell off assets and pay retention bonuses to remaining ...Reuters
Tue, May 5
METALS-Copper recovers from 3-week low on bargain hunting; COMEX outperforms
By Eric Onstad LONDON, May 5 (Reuters) - Copper prices rebounded after hitting a three-week low on Tuesday, as investors took advantage of lower prices, while U.S. prices outperformed on speculation about possible tariffs on the metal. Benchmark three-month copper CMCU3 on the London Metal...Reuters
Tue, May 5
GRAINS-Chicago grains ease on technical reversal, falling crude oil
Wheat, corn, soybeans edge down after two-day riseEasing oil prices, technical trading curb pricesBy Heather Schlitz CHICAGO, May 5 (Reuters) - Chicago wheat, corn and soybean futures edged lower on Tuesday, snapping a two-session rally amid a slew of profit-taking and farmer selling, with easing...Reuters
Tue, May 5
M&T Bank And Verogy Execute Distributed Solar Sale-Leaseback Portfolio
May 5 (Reuters) - VEROGY HOLDINGS:M&T BANK AND VEROGY EXECUTE DISTRIBUTED SOLAR SALE-LEASEBACK PORTFOLIO, SUPPORTED BY ENERGETIC CAPITALVEROGY HOLDINGS: COMPLETED SALE-LEASEBACK FINANCING WITH M&T BANK FOR PORTFOLIO OF SEVEN COMMERCIAL INDUSTRIAL SOLAR PROJECTS TOTALING ABOUT 2.7 MWReuters
Tue, May 5
Trump says Iran "should wave the white flag of surrender"
By Steve HollandWASHINGTON, May 5 (Reuters) - President Donald Trump on Tuesday dismissed Iran's military capability and said Tehran "should wave the white flag of surrender" but is too proud to do so. Trump told reporters in the Oval Office that Iran's military has been reduced to f...Reuters
Tue, May 5
Duke Energy tops profit, revenue estimates on rate recovery, weather boost
May 5 (Reuters) - Utility Duke Energy DUK.N exceeded Wall Street expectations for first-quarter profit and revenue on Tuesday, supported by the recovery of rate-based infrastructure investments and favorable weather.U.S. electric utilities are pushing to increase customer electricity rates in 2026 t...Reuters
Tue, May 5
US Cash Grains-Corn basis mostly steady-softer
CHICAGO, May 5 (Reuters) - Basis bids for corn were mostly steady to weaker in the U.S. Midwest on Tuesday as recent strength in Chicago Board of Trade corn futures spurred farmer selling, brokers said.The corn basis fell by 3 cents a bushel at an ethanol plant in Union City, Indiana, and by 1 cent ...Reuters
Tue, May 5
Exxon using AI for faster analysis of Guyana's oil fields, VP of exploration says
By Curtis WilliamsHOUSTON, May 5 (Reuters) - New developments in AI and technology are helping Exxon Mobil XOM.N interpret seismic data from Guyana in days, rather than months, John Ardill, the company's vice president of exploration, said on Tuesday. The company, which leads an oil-producing co...Reuters
Tue, May 5
Spirit Airlines lawyer says high jet fuel prices left carrier no alternative but shutdown
May 5 (Reuters) - A lawyer for defunct Spirit Airlines said Tuesday that sharply higher jet fuel prices left "no remaining way out" of bankruptcy and forced the budget carrier's shutdown as it seeks approval for an expedited plan to sell off assets and pay retention bonuses to remaining ...Reuters
Tue, May 5
Grain trader ADM raises profit forecast on biofuel demand outlook
Shares advance more than 5%U.S. has ordered refiners to blend record amount of biofuelsADM faces risks from tariffs, disruptions linked to Iran warBy Tom Polansek and Katha Kalia May 5 (Reuters) - Archer-Daniels-Midland ADM.N shares jumped on Tuesday after the grain trader increased its full-yea...Reuters
Tue, May 5
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