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Chevron terminates contracts, but will keep staff in Venezuela, sources say
May 28 (Reuters) - Chevron CVX.N has terminated the oil production, service and procurement contracts it had to operate in Venezuela, delegating its joint-venture governance to its partner, state company PDVSA, but it plans to retain its direct staff in the country, four sources close to the decisio...Reuters
Wed, May 28
US-authorized buyers of Venezuelan oil complete transactions as licenses expire
Swap deal completed as part of recent deal with Vitol, M&P Other customers received last cargoes ahead of deadlineU.S.-authorized sales falling, partially offset by deliveries to intermediaries May 28 (Reuters) - Buyers of Venezuelan oil under U.S. licenses and authorizations have completed load...Reuters
Wed, May 28
Chevron investors reject stockholder proposals, Exxon faces none
By Sheila Dang HOUSTON, May 28 (Reuters) - Chevron CVX.N shareholders voted against three stockholder proposals during the U.S. oil producer's annual meeting on Wednesday, including one calling for a report on the company's human rights practices, while larger rival Exxon Mobil XOM.N face...Reuters
Wed, May 28
Chile's Cochilco raises copper price forecast on improved global outlook
Cochilco raises copper price projection after US-China tariff pauseCommission expects tighter global copper supplyChilean production growth forecast for 2026 revised downBy Fabian Cambero SANTIAGO, May 28 (Reuters) - Chile's state copper commission Cochilco raised its average copper price for...Reuters
Wed, May 28
Exxon Mobil ramps up unit at 250,000 bpd refinery in Joliet, Illinois to full capacity
NEW YORK, May 28 (Reuters) - Exxon Mobil's XOM.N 250,000 barrel-per-day refinery in Joliet, Illinois brought the catalytic cracker unit back to full capacity, IIR Energy said on Thursday.The refinery ran its 98,000-bpd catalytic cracker unit at approximately 50% capacity after experiencing unspe...Reuters
Wed, May 28
Gold slips below $3,300 on US Dollar strength as traders await Fed Minutes
Gold price extended its losses during the North American session on Wednesday after hitting a daily high of $3,325 earlier in the day as market sentiment shifted sour. Nevertheless, sellers stepped in, driving the yellow metal prices below $3,300, resulting in a solid 0.18% decline.
Fxstreet
Wed, May 28
US-authorized buyers of Venezuelan oil complete transactions as licenses expire
May 28 (Reuters) - Buyers of Venezuelan oil under U.S. licenses and authorizations have completed loadings and the vessels departed as a period granted by Washington to wind down transactions expired this week, according to shipping data and documents seen on Wednesday.Reuters
Wed, May 28
OPEC+ adopts plan for 2027 baselines ahead of July output hike talks
OPEC+ met online on WednesdayEight OPEC+ members to meet on Saturday to decide on July outputFor an EXPLAINER on OPEC+ output cuts, By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler LONDON/MOSCOW, May 28 (Reuters) - OPEC+ agreed on Wednesday to establish a mechanism for setting baselines for its...Reuters
Wed, May 28
German carmakers in talks with US over possible tariff deal, sources say
German carmakers hope to use US investments, exports as leverageThey propose getting credits for cars they export from US US is biggest export market for VW, BMW and Mercedes BERLIN, May 28 (Reuters) - Germany's leading automakers are in talks with Washington over a possible import tariff de...Reuters
Wed, May 28
METALS-Copper drifts lower on firmer dollar
By Polina Devitt LONDON, May 28 (Reuters) - Copper prices eased on Wednesday as a stronger dollar and signs of slowing import demand in China offset support from tighter nearby supply in the London Metal Exchange's system.Benchmark three-month copper CMCU3 on the LME was down 0.4% at $9,553 a...Reuters
Wed, May 28
Chevron investors reject stockholder proposals on human rights, renewable energy
HOUSTON, May 28 (Reuters) - Chevron CVX.N shareholders voted against three stockholder proposals that included a call to commission a third-party report on the company's human rights practices, according to preliminary voting results from Chevron's annual meeting on Wednesday.Investors of th...Reuters
Wed, May 28
CTAs poised to pressure WTI as OPEC+ shifts strategy – TDS
CTAs will sell WTI crude in any scenario for prices this week. This selling activity is likely to be less significant than that which we expect in gold markets, but could weigh on prices nonetheless, TDS' Senior Commodity Strategist Daniel Ghali notes.
Fxstreet
Wed, May 28
EU wheat steadies after slide on US crop ratings surprise
PARIS, May 28 (Reuters) - Euronext wheat rose on Wednesday in step with Chicago futures, as lower than expected U.S. crop ratings helped prices steady after a day-earlier slide, though favourable overall harvest prospects and slow export demand limited gains.September milling wheat BL2U5, the most a...Reuters
Wed, May 28
LNG exporter Cheniere enters natural gas deal with Canadian Natural Resources
May 28 (Reuters) - U.S. LNG exporter Cheniere Energy LNG.N said on Wednesday its unit has entered into a long-term agreement to purchase natural gas from Canadian Natural Resources CNQ.TO.WHY IS IT IMPORTANTThe U.S. is the world's largest exporter of liquefied natural gas and had shipped 11.9 bi...Reuters
Wed, May 28
EU discussing steel, chip, plane cooperation with US, trade chief says
By Federico Maccioni DUBAI, May 28 (Reuters) - The European Commission is discussing with the United States possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals, European Trade Commissioner Maros Sefcovic said on Wednesday.Sefcovic, in Dubai to launch fre...Reuters
Wed, May 28
OPEC+ to keep oil output policy steady on Wednesday, source says
LONDON/DUBAI, May 28 (Reuters) - An OPEC+ meeting on Wednesday will not make any decisions on oil output policy, a source told Reuters while an online meeting of the countries was under way.A separate meeting on Saturday of eight OPEC+ countries is expected to decide on an increase in oil output for...Reuters
Wed, May 28
EXCLUSIVE-Putin's demands for peace include an end to NATO enlargement, sources say
Putin wants written pledge to halt NATO expansion eastwards, sources sayRussia also seeks lifting of sanctions and protection for Russian speakers in UkraineUkraine has insisted on NATO membership aspirations despite Russian demandsBy Guy Faulconbridge MOSCOW, May 28 (Reuters) - President Vladimi...Reuters
Wed, May 28
Merz says Ukraine, Germany to jointly produce long-range missiles
Zelenskiy visits Berlin for talks with new Chancellor MerzMerz has struck a more hawkish tone on Russia than predecessorVows to keep hiking pressure on KremlinZelenskiy says Berlin will help Kyiv scale up arms productionBy Sarah Marsh and Yuliia Dysa BERLIN/KYIV, May 28 (Reuters) - Germany and Uk...Reuters
Wed, May 28
US natgas prices climb 2% to 2-week high on lower output, higher demand forecasts
US LNG export feedgas hit record high in AprilUS gas output hit record high in AprilUS gas storage about 4% over five-year normalBy Scott DiSavinoMay 28 (Reuters) - U.S. natural gas futures climbed about 2% to a two-week high on Wednesday on a drop in output, forecasts for more demand next week than...Reuters
Wed, May 28
