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Sanctions send Russian tanker group Sovcomflot to $393 million net loss
Russian tanker group Sovcomflot posts $393 mln Q1 net lossU.S. imposed extra sanctions on Sovcomflot fleet in JanuarySovcomflot blames operational issues on sanctions Net loss shows the impact of Western sanctions on RussiaBy Gleb Stolyarov and Alexander Marrow May 23 (Reuters) - Russia's lea...Reuters
Fri, May 23
Gold back above $3,300 as geopolitical jitters persist – Commerzbank
Gold is back in demand amid rising geopolitical uncertainty and a weakening US dollar, with prices climbing above $3,300 per ounce. However, upside potential may be limited as high prices weigh on physical demand in Asia, Commerzbank's commodity analyst Barbara Lambrecht notes.Fxstreet
Fri, May 23
PRESS DIGEST-Canada - May 23
May 23 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.THE GLOBE AND MAIL**Canadian Prime Minister Mark Carney has been unable to find a permanent chief of staff, and is keeping former cabin...Reuters
Fri, May 23
PRECIOUS-Gold rises, set for weekly gain as US fiscal woes boost appeal
Trump's sweeping tax-cut bill passes US House, on way to SenateGold up 4% so far this weekDollar has lost more than 1% this weekBy Brijesh Patel May 23 (Reuters) - Gold prices rose 1% on Friday and were on track for their best week in six, boosted by a weaker dollar and as worries over the Un...Reuters
Fri, May 23
EU brands just four countries as 'high risk' under deforestation law
By Kate Abnett, Charlotte Van Campenhout and Bart H. Meijer BRUSSELS, May 22 - Commodities from just four countries will face the strictest checks under the European Union's anti-deforestation law, with major forest nations including Brazil and Indonesia spared the toughest rules.The European...Reuters
Fri, May 23
Mid-May storms push 2025 US SCS insured losses beyond $20 billion: Gallagher Re
May 23 - (The Insurer) - Insured losses from the severe convective storms (SCS) that hit the U.S. from May 14 to 20 are estimated at between $4 billion and $7 billion, Gallagher Re said on Thursday. The mid-May storms are likely to push the year’s total SCS-related insured losses beyond $20 billion,...Reuters
Fri, May 23
Russia and Bahrain in advanced talks over LNG supply deal, sources say
By Timour Azhari and Marwa RashadLONDON, May 23 (Reuters) - Russia is in advanced talks with Bahrain over a three-year liquefied natural gas (LNG) agreement under which Moscow would supply the Gulf kingdom with 1.5 million metric tons of the fuel, according to three sources close to the matter.The p...Reuters
Fri, May 23
GRAINS-Wheat eases as short-covering rally fades
CANBERRA/PARIS, May 23 (Reuters) - Chicago wheat futures edged lower for a second day on Friday, consolidating below a one-month high as short-covering by investment funds subsided and traders saw generally favourable harvest prospects in the Northern Hemisphere.Corn and soybean futures were little ...Reuters
Fri, May 23
US natural gas falls on larger-than-expected storage build – ING
US natural gas prices declined sharply as storage data surprised to the upside, reinforcing concerns about near-term oversupply and weighing on NYMEX Henry Hub futures, ING's commodity experts Ewa Manthey and Warren Patterson note.Fxstreet
Fri, May 23
Damaged CPC pumping station in Russia back online, operator says
MOSCOW, May 23 (Reuters) - A pumping station on the Caspian Pipeline Consortium (CPC) pipeline in Russia damaged in February is back in service, operator CPC said on Friday.The route is Kazakhstan's main means of exporting crude and also carries Russian oil to the Black Sea for export by tanker....Reuters
Fri, May 23
Trump says Britain should incentivize drilling in North Sea to reduce energy costs
May 23 (Reuters) - U.S. President Donald Trump said on Friday that Britain should incentivize modernized drilling in the North Sea to bring down energy costs. "Our negotiated deal with the United Kingdom is working out well for all. I strongly recommend to them, however, that in order to get the...Reuters
Fri, May 23
ANALYSIS-US pipeline firms wrestle buy/build conundrum as Trump pushes energy expansion
Trump administration offers encouragement for pipeline buildsSome large energy projects commissioned since NovemberPressure remains on greenfield growth from low oil prices, tariffsMany firms find buying pipeline assets a more economical way to growBy David French NEW YORK, May 23 (Reuters) - Pre...Reuters
Fri, May 23
Caspian oil pipeline says damaged pumping station is back online
MOSCOW, May 23 (Reuters) - The Caspian Pipeline Consortium (CPC) said on Friday that the Kropotkinskaya pumping station, which was damaged by a drone attack in February, is back in operation.Moscow has accused Ukraine of striking the pumping station and a nearby oil depot in southern Russia.Reuters
Fri, May 23
Iraq oil ministry: US firms’ direct deals with Kurdistan violate constitution
DUBAI, May 23 (Reuters) - Iraq’s Oil Ministry reaffirmed on Friday its commitment to working with U.S. energy companies but emphasized that cooperation must occur through the federal government and not directly with the Kurdistan Regional Government, which would violate the Iraqi constitution.Iraq&#...Reuters
Fri, May 23
Gold edges higher after Trump’s bill boosts bond market uncertainty
Gold price rallies nearly 1% on Friday on renewed US debt concerns. Markets fear that US President Trump’s spending bill will balloon the US debt even further. Gold sees a weekly gain of around 4%, fully recovering from the previous week’s fall.
Fxstreet
Fri, May 23
Iraq oil ministry says US companies' dealings with Kurdistan region are unconstitutional
May 23 (Reuters) - Iraq's oil ministry said on Friday that U.S. companies' dealings with Kurdistan region, separate from the federal government, are unconstitutional.The ministry added that it welcomes and seeks to work with U.S. companies to develop oil and gas fields.Reuters
Fri, May 23
