News
Important Only
TECHNICALS-CBOT soybeans may retrace to $10.63
For more technical analyses, please click SINGAPORE, May 23 (Reuters) - The CBOT soybean July contract SN25 may retrace to $10.63 per bushel, following its failure to break resistance at $10.73-3/4.The barrier is identified as the 61.8% projection level of a wave c from $10.45-3/4. Partly due to thi...Reuters
Fri, May 23
Murban crude prices drop as OPEC+ raises output, prompting surge in volumes to Asia
Asian buyers flock to Murban as ample supply depress pricesCheap Murban to squeeze Asia's demand for U.S. WTIMurban becomes cheapest among grades used to assess Platts Dubai benchmarkRecord 20 Murban cargoes delivered in Platts window in May so farBy Siyi Liu and Florence Tan SINGAPORE, May 2...Reuters
Fri, May 23
Murban crude prices drop as OPEC+ raises output, prompting surge in volumes to Asia
SINGAPORE, May 23 (Reuters) - Spot premiums for Murban crude have hit six-month lows on surging supply as the United Arab Emirates ramps up output following OPEC+'s decision to accelerate production hikes and compete head-on with U.S. shale oil, traders and analysts said.
Reuters
Fri, May 23
GRAINS-Wheat dips again as short-covering rally loses steam
CANBERRA, May 23 (Reuters) - Chicago wheat futures fell on Friday, slipping for the second straight day, as a short-covering rally that lifted prices from last week's five-year low ran out of steam, but remained on track for a weekly gain.Corn and soybean futures rose slightly.The most active wh...Reuters
Fri, May 23
METALS-London copper edges higher as dollar weakens
NEW DELHI, May 23 (Reuters) - Copper prices in London edged higher on Friday, supported by a softer dollar, and were poised for weekly gains, although the upside was limited due to persisting uncertainty over U.S. tariffs.Benchmark copper CMCU3 on the London Metal Exchange (LME) was up 0.3% at $9,52...Reuters
Fri, May 23
GRAINS-Wheat dips again as short-covering rally loses steam
CANBERRA, May 23 (Reuters) - Chicago wheat futures edged lower on Friday, slipping for the second straight day, as a short-covering rally that lifted prices from last week's five-year low ran out of steam, but remained on track for a weekly gain.Reuters
Fri, May 23
Mexico's Pemex plans restructuring to save costs, document shows
May 22 (Reuters) - Mexico's Pemex, the world's most indebted energy company, plans to restructure parts of its business in an attempt to save costs, a May document seen by Reuters showed on Thursday.Earlier reports, citing another document from last month suggesting it could include a layoff...Reuters
Fri, May 23
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, May 23 (Reuters) - Contract Target Support/Resistance Brent oil $64.54/$64.93sup $63.71/$63.25Palm oil (3rd month)3,883/3,927 ringgitsup 3,812/3,768 ringgitWTI* $61.55/$62.05sup $60.23/$59.42Spot gold$3,335/$3,366sup $3,284/$3,266LME copper (...Reuters
Fri, May 23
Oil falls on stronger US dollar, possibility of higher OPEC+ output
By Laila Kearney May 23 (Reuters) - Oil prices slipped on Friday, weighed down by a stronger U.S. dollar and the possibility that OPEC+ will further increase its crude oil output. Brent futures LCOc1 fell 37 cents to $64.07 a barrel by 0015 GMT. U.S. West Texas Intermediate crude futures CLc1 los...Reuters
Fri, May 23
PRECIOUS-Gold heads for best week in more than a month on US fiscal worries
May 23 (Reuters) - Gold was on track for its best weekly gain in over a month on Friday, as a softer dollar and mounting concerns about the deteriorating fiscal outlook of the world's biggest economy boosted the metal's safe-haven appeal.FUNDAMENTALS* Spot gold XAU= gained 0.2% to $3,299.79 ...Reuters
Fri, May 23
US crude oil storage demand surges as traders brace for OPEC+ price war
NEW YORK, May 22 (Reuters) - U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting CReuters
Fri, May 23
US Cash Crude-Mars firms as Chevron's license to operate in Venezuela set to expire next week
May 22 (Reuters) - Mars steadied on Thursday after touching four-month lows in the previous session, dealers said, after U.S. Secretary of State Marco Rubio said oil producer Chevron's CVX.N U.S. license to operate in Venezuela will expire on May 27 as planned. Mars traded flat to U.S. West Texa...Reuters
Thu, May 22
CIF/FOB Gulf Grain-Corn barge bids creep up on thin farmer sales
CHICAGO, May 22 (Reuters) - Basis bids for corn delivered by barge to U.S. Gulf Coast terminals ticked higher on Thursday, supported by demand from exporters, while farmer offerings of the grain remained thin, traders said.At the Gulf, CIF corn barges loaded in May traded at 70 cents over Chicago Bo...Reuters
Thu, May 22
Pemex to cut over 3000 jobs to save more than $540 million, Bloomberg reports
May 22 (Reuters) - Mexican state oil company Pemex plans to layoff over 3000 tenured employees and save up around 10.5 billion pesos ($543.40 million) in the process, Bloomberg reported citing a company document dated April.The document was first reported by the Mexican newspaper Reforma. Reuters c...Reuters
Thu, May 22
El Paso Declares Force Majeure At At Plains Compressor Station In Yoakum County, Texas
May 22 (Reuters) - KINDER MORGAN'S KMI.N EL PASO NATURAL GAS COMPANY, L.L.C (EPNG):DECLARES FORCE MAJEURE AT AT PLAINS COMPRESSOR STATION LOCATED IN YOAKUM COUNTY, TEXAS AFTER IT EXPERIENCED A COMPRESSION EQUIPMENT FAILURERELATED: [nAQN2KEC4J]Reuters
Thu, May 22
