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ANALYSIS-Oil majors eye resurgent Canadian energy in wake of Middle East upheaval
Shell's $16.4 bln ARC deal signals renewed foreign interest in Canada's energy sectorGlobal oil majors eye Canadian assets for LNG, stable politics, and lower costsMontney shale basin assets seen as a lucrative development opportunityBy Shariq Khan, David French and Amanda Stephenson NEW ...Reuters
Wed, Apr 29
Silver declines as Fed keeps interest rates steady, yields and USD strengthen
Silver (XAG/USD) remains under pressure on Wednesday as markets digest the latest interest rate decision from the Federal Reserve (Fed), with a stronger US Dollar and rising US Treasury yields weighing on the non-yielding metal.
Fxstreet
Wed, Apr 29
Trump says he discussed a Ukraine ceasefire with Putin
WASHINGTON, April 29 (Reuters) - U.S. President Donald Trump said on Wednesday he discussed a possible Ukraine ceasefire in a phone call with Russian President Vladimir Putin."We had a good talk, I've known him a long time," said Trump.Reuters
Wed, Apr 29
Phillips 66 posts surprise profit on higher refining margins
By Nicole Jao and Pooja Menon NEW YORK, April 29 (Reuters) - Phillips 66 PSX.N posted a surprise first-quarter adjusted profit on Wednesday, as strong refining margins and higher capacity utilization helped the company offset the impact of volatile commodity prices.U.S. Gulf Coast refiners are b...Reuters
Wed, Apr 29
POLL-US natural gas stockpiles likely rose by 80 billion cubic feet last week
April 29 (Reuters) - U.S. energy firms likely added 80 billion cubic feet (bcf) of natural gas into storage last week, according to the average estimate in a Reuters poll released on Wednesday.The estimate compares with an injection of 105 bcf during the same week a year ago and an average increase ...Reuters
Wed, Apr 29
Gold tumbles as Oil surge lifts yields, USD ahead of the Fed
Gold (XAU/USD) price retreats over 1% on Wednesday as high energy prices are driving US Treasury yields soaring, signaling that investors are not expecting any rate cuts by the Federal Reserve (Fed), which is expected to hold rates unchanged late at around 18:00 GMT.Fxstreet
Wed, Apr 29
OPEC+ set to agree another oil output hike without UAE, sources say
Seven OPEC+ members meet on SundayOPEC+ to raise June output quotas but most members can't meet targets due to supply disruptionsUAE left OPEC and OPEC+ on Tuesday; quota increase will remove UAE share, sources sayBy Alex Lawler and Dmitry Zhdannikov LONDON, April 29 (Reuters) - Seven members...Reuters
Wed, Apr 29
Gasoline stocks plummet, prices climb with peak demand season around the corner
By Liz Hampton and Arathy SomasekharDENVER, April 29 (Reuters) - U.S. drivers can expect another spike in gasoline prices in the coming days, just as the summer driving season gets underway, as the conflict in Iran drives oil prices higher and pushes countries around the world to call on American en...Reuters
Wed, Apr 29
Southern Copper Q1 net income jumps on higher pricing for its products
OverviewCopper miner's Q1 net sales rose 36% yr/yr, driven by higher silver and zinc volumesQ1 net income hit record, up 67% from 1Q25Company named Leonardo Contreras Lerdo de Tejada as CEO after prior chief's passingOutlookCompany aims to increase production to 1.6 mln tons in 2026Company s...Reuters
Wed, Apr 29
US war in Iran has cost $25 billion so far, says Pentagon official
U.S. war in Iran has seen oil and gas prices riseIncrease in costs has unsettled Republican insidersU.S. military poised to restart attacks if ordered by TrumpBy Idrees Ali, Phil Stewart and Ismail Shakil WASHINGTON, April 29 (Reuters) - The United States' war in Iran has cost $25 billion so ...Reuters
Wed, Apr 29
GRAINS-Chicago wheat near 2-year high, corn at 1-year high on weather concerns
By Heather SchlitzCHICAGO, April 29 (Reuters) - Chicago wheat futures were at their highest point in nearly two years on a continuous chart on Wednesday, buoyed by support from fund buying and dry weather in the U.S. Plains, traders said.Corn hit a one-year high on a continuous chart before falling ...Reuters
Wed, Apr 29
Algeria says it is committed to OPEC after UAE exit
CAIRO, April 29 (Reuters) - Algeria said on Wednesday it was committed to OPEC, after a decision by the United Arab Emirates to leave the oil producers group.Algeria, a gas-rich OPEC member, reaffirmed its engagement within OPEC and the wider OPEC+ group, "in support of the sustainable stability...Reuters
Wed, Apr 29
Pentagon's Hegseth defends Iran war, says it is not a quagmire
WASHINGTON, April 29 (Reuters) - U.S. Defense Secretary Pete Hegseth sought to defend the Iran war in fiery remarks to Congress on Wednesday, saying it was not a quagmire and attacking Democratic lawmakers as "feckless" for criticizing the unpopular conflict.Hegseth was testifying before Con...Reuters
Wed, Apr 29
US Cash Grains-Corn, soybean spot basis bids mostly steady-higher
CHICAGO, April 29 (Reuters) - Spot basis bids for corn and soybeans delivered to U.S. Midwest elevators and processing plants were mostly steady to higher on Wednesday, underpinned by firm demand, grain merchants said.Grain dealers reported scattered farmer sales, including of old-crop corn, as futu...Reuters
Wed, Apr 29
Europe Gasoline/Naphtha-Gasoline refining margins slide
LONDON, April 29 (Reuters) - Northwest European gasoline refinery profit margins fell $5.62 to $14.32 a barrel on Wednesday despite a sharp drop in U.S. inventories, as higher crude prices weighed. A total of 22,000 metric tons of E5 gasoline barges traded in the Argus window as Exxon Mobil, Equino...Reuters
Wed, Apr 29
Phillips 66 running refineries in low to mid 90% range in q2 2026 - conf call
Independent U.S. refiner Phillips 66 PSX.N is running its nine refineries in the low- to mid-90% range of their combined capacity of 2 million barrels per day (bpd), the company said during a conference call on Wednesday. Phillips 66's refinery at Humber in the United Kingdom is planned to run i...Reuters
Wed, Apr 29
PRECIOUS-Gold extends decline as inflation worries linger, Fed meeting looms
Trump urges Iran to sign a deal and discusses prolonged blockadeFed likely to hold rates steadyFed chief nominee Warsh clears key confirmation hurdle in SenateTotal gold demand up 2% y/y in Q1, WGC says By Ashitha Shivaprasad April 29 (Reuters) - Gold prices fell for a third straight session on W...Reuters
Wed, Apr 29
S&P Raises West Texas Intermediate & Brent Crude Oil Price Assumptions For 2026
April 29 (Reuters) - S&P:S&P: RAISED WEST TEXAS INTERMEDIATE & BRENT CRUDE OIL PRICE ASSUMPTIONS BY $15 PER BARREL (/BBL) FOR REMAINDER OF 2026 & BY $5/BBL FOR 2027S&P: WEST TEXAS INTERMEDIATE & BRENT CRUDE OIL PRICE ASSUMPTIONS FOR 2028 AND BEYOND ARE UNCHANGEDS&P:PRICE ...Reuters
Wed, Apr 29
TotalEnergies raises dividend, buybacks and hackles over war-related profits
Refining and chemicals segment quintuples earnings Share buybacks doubled to $1.5 billion for second quarterPeers BP, Eni also reported strong earnings due to Iran warFrench politicians call for windfall tax to aid consumersBy America Hernandez PARIS, April 29 - TotalEnergies TTEF.PA raised its d...Reuters
Wed, Apr 29
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