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US crude eases 1% as traders weigh supply risks
May 5 (Reuters) - U.S. crude futures eased 1% in early Asian trade on Tuesday as the market gauged the impact of Iranian attacks on ships in the Strait of Hormuz and a fire at a UAE oil port.U.S. West Texas Intermediate CLc1 was at $105.36 a barrel, down $1.06, or 1%, by 2203 GMT, following a more t...Reuters
Mon, May 4
Iran's Araqchi says no military solution in Hormuz, warns US and UAE against 'quagmire'
May 5 (Reuters) - Iran's Foreign Minister Abbas Araqchi said events in the Strait of Hormuz showed there was no military solution to the crisis, adding that talks were making progress with Pakistan's mediation while warning the United States and the United Arab Emirates against being drawn i...Reuters
Mon, May 4
Maersk unit's US-flagged ship transits Hormuz accompanied by US military
By Lisa Baertlein and Jonathan SaulLOS ANGELES, May 4 (Reuters) - Maersk MAERSKb.CO said the Alliance Fairfax, a U.S.-flagged vehicle carrier operated by its Farrell Lines subsidiary, exited the Gulf via the Strait of Hormuz accompanied by U.S. military assets on Monday.American forces are actively ...Reuters
Mon, May 4
CBOT wheat futures higher on drought, Middle East conflict
CHICAGO, May 4 (Reuters) - Chicago Board of Trade wheat futures seesawed on Monday but ended the day higher as the conflict in the Middle East and concerns over yield-crushing drought in the U.S. winter wheat belt pushed prices higher.Forecasts predicted rain will reach the parched U.S. wheat belt, ...Reuters
Mon, May 4
Chevron CEO says shortages in oil supply will begin appearing
By Erwin SebaHOUSTON, May 4 (Reuters) - Chevron CVX.N Chairman and CEO Mike Wirth said on Monday that physical shortages in oil supply would begin appearing around the world because of the closure of the Strait of Hormuz, through which 20% of global crude supply passes.Economies will begin shrinking...Reuters
Mon, May 4
Diamondback boosts annual production outlook as oil prices rally
May 4 (Reuters) - U.S. shale producer Diamondback Energy FANG.O raised its annual production forecast on Monday, after beating Wall Street expectations for first-quarter profit on a rally in oil prices. The first quarter was marked by geopolitical uncertainty and extreme volatility in oil prices,...Reuters
Mon, May 4
BRC Q1 revenue rises, driven by wholesale, DTC growth
OverviewU.S. premium coffee seller's Q1 revenue rose 21% yr/yr, driven by wholesale and DTC growthNet income reached breakeven, while adjusted EBITDA rose sharply from prior yearGross margin declined due to coffee inflation, tariffs, and a non-cash write-downOutlookBRC expects at least 8% revenu...Reuters
Mon, May 4
Aviat Networks Q3 revenue falls 11%, misses analyst estimates
OverviewWireless transport equipment maker's fiscal Q3 revenue fell 11% yr/yr, missing analyst expectationsFiscal Q3 adjusted EBITDA missed analyst expectationsCompany cites project timing in North America and international delays for revenue declineOutlookAviat Networks sees fiscal 2026 revenue...Reuters
Mon, May 4
Dorman Products Q1 sales slightly beat, adjusted EPS misses estimates
OverviewU.S. motor vehicle aftermarket supplier's Q1 net sales grew 4%, slightly beating analyst expectationsAdjusted EPS for Q1 fell 22% and missed consensus, impacted by higher tariff costsCompany repurchased $51 mln of shares and reaffirmed full-year 2026 guidanceOutlookDorman Products reaffi...Reuters
Mon, May 4
Shale producer Diamondback Energy beats first-quarter profit estimates
May 4 (Reuters) - U.S. shale producer Diamondback Energy FANG.O surpassed Wall Street expectations for first-quarter profit on Monday, helped by higher oil prices and output.The Midland, Texas-based company posted an adjusted profit of $4.23 per share for the three months ended March 31, compared wi...Reuters
Mon, May 4
Trump calls Xi meeting important trip, says US leads in AI
WASHINGTON, May 4 (Reuters) - President Donald Trump said on Monday he looks forward to seeing China’s Xi Jinping later this month, saying he will remind his rival that the United States is leading in artificial intelligence as the two sides navigate tensions over trade and technology.Reuters
Mon, May 4
EU countries could better target measures to lower energy prices-Dombrovskis
BRUSSELS, May 4 (Reuters) - European Union governments could be better in targeting the measures to lower energy prices to the most vulnerable sectors of the economy, European Economic Commissioner Valdis Dombrovskis told a news conference on Monday.Many EU governments have adopted measures like cut...Reuters
Mon, May 4
CBOT corn higher under support from crude oil
CHICAGO, May 4 (Reuters) - Chicago Board of Trade corn futures inched higher on Monday on stronger crude oil prices, while also gaining support from the risk of rain delaying U.S. spring planting.Traders will assess the U.S. Department of Agriculture's weekly crop progress report for planting pr...Reuters
Mon, May 4
US natgas futures gain 3% to three-week high as output dips, oil prices surge
US output drops as firms like EQT cut production amid low spot pricesWaha Hub prices remain negative for record 61 days due to pipeline constraintsAnalysts expect storage surplus to narrow as output falls and demand risesBy Scott DiSavino NEW YORK, May 4 (Reuters) - U.S. natural gas futures climb...Reuters
Mon, May 4
Oil prices jump 6% as Iran sets UAE oil port ablaze, strikes vessels in Strait of Hormuz
Iran attacks UAE oil port, ships; US Navy intercepts missiles, dronesUAE, South Korean, and other vessels targeted; UAE battles oil port fireOPEC+ to raise output targets; UAE vows to meet market needs after leaving OPECBy Scott DiSavino NEW YORK, May 4 (Reuters) - Oil prices jumped about 6% on M...Reuters
Mon, May 4
Euro zone in stagflationary tendency, not full stagflation mode -Pierrakakis
BRUSSELS, May 4 (Reuters) - Euro zone growth is slowing and inflation is rising, putting the single currency area in a stagflationary tendency, but not in full stagflation mode, the chairman of euro zone finance ministers Kyriakos Pierrakakis told a news conference on Monday.Reuters
Mon, May 4
GRAINS-Soybeans rally on surging crude oil, strong crushing pace
Rain is forecast for parched Western Plains this weekRisk of rain delays to planting supports corn, soybeansStrait of Hormuz uncertainty underpins grains as oil ralliesBy Heather SchlitzCHICAGO, May 4 (Reuters) - Chicago Board of Trade soybean futures climbed to a seven-week peak on a continuous cha...Reuters
Mon, May 4
CBOT soybeans higher on crude oil prices, strong crush pace
CHICAGO, May 4 (Reuters) - Chicago Board of Trade soybean futures climbed to a seven-week peak on a continuous chart on Monday on rising crude oil prices and strong demand from soybean crushing plants as tensions in the Middle East persisted. Traders will assess the U.S. Department of Agriculture...Reuters
Mon, May 4
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