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Exxon signals lower Q1 profit despite higher oil, gas revenue from Iran war price spikes
Upstream earnings could gain from higher oil, gas pricesExxon to release full Q1 results on May 1Downstream earnings hit by timing effectsExxon expects profits to rebound in later quartersBy Sheila DangHOUSTON, April 8 (Reuters) - Exxon Mobil XOM.N signaled on Wednesday that first quarter earnings c...Reuters
5 minutes ago
Mosaic To Idle Araxá And Patrocínio Mining Complexes In Brazil
April 8 (Reuters) - Mosaic Co MOS.N:MOSAIC CO - TO IDLE ARAXÁ AND PATROCÍNIO MINING COMPLEXES IN BRAZIL - SEC FILINGMOSAIC CO - WORKFORCE REDUCTIONS TO OCCUR AT ARAXÁ AND PATROCÍNIO SITES - SEC FILINGMOSAIC CO - TO PURSUE SALE OF ARAXÁ ASSETS AND CONTINUE NIOBIUM DEVELOPMENT AT PATROCÍNIO - SEC FILI...Reuters
8 minutes ago
WRAPUP 10-Relief at truce gives way to alarm as Israel pounds Lebanon and Iran hits neighbours
Trump says Iran proposal is basis for negotiationPreparations being made for talks in Pakistan Israeli attacks on Lebanon the biggest yetIran continues to strike its Gulf neighboursIran describes deal as victory over TrumpBy Steve Holland, Parisa Hafezi, Alexander Cornwell and Maya Gebeily WASHIN...Reuters
12 minutes ago
EXCLUSIVE-Rusal plans to reroute aluminium from China to Japan as Iran conflict reshapes trade, sources say
Japan aluminium premiums soar to 11-year highs on Iran crisisCountry sources over a quarter of its aluminium from GulfChina buyers baulk at prices based on Japan premiums, sources sayBy Tom Daly, Polina Devitt, Amy Lv and Pratima Desai LONDON/BEIJING, April 8 (Reuters) - Russia's Rusal 0486.H...Reuters
13 minutes ago
Oil tumbles below $100 after Trump announces two-week ceasefire
Iran says it will open up Strait of Hormuz for two weeks if attacks stopTrump says Iran has offered a 10-point peace proposal US crude inventories rose more than expected last week, EIA saysBy Nicole Jao NEW YORK, April 8 (Reuters) - Oil tumbled below $100 a barrel on Wednesday after U.S. Preside...Reuters
14 minutes ago
US military says it's ready to resume Iran fighting if diplomacy fails
US claims major tactical wins, destroying much of Iran's military infrastructureIran declares historic victory, enters talks distrustful of US intentionsExperts note Iran's regime remains intact, Tehran may be emboldenedBy Idrees Ali and Phil Stewart WASHINGTON, April 8 (Reuters) - The to...Reuters
14 minutes ago
The new Trump trades: how investors are navigating Iran shocks
New Trump trades emerging from war-fuelled uncertaintyVolatility creates mis-pricing opportunitiesHigher for longer oil anticipatedBy Naomi Rovnick LONDON, April 8 (Reuters) - Investors are piecing together a new "Trump trade" playbook for navigating market uncertainty, ranging from wheth...Reuters
16 minutes ago
Mosaic to idle mining operations at two complexes in Brazil
April 8 (Reuters) - Mosaic MOS.N said on Wednesday it will idle two phosphate facilities in Brazil, cut jobs and reduce annual output by about 1 million tonnes, as the fertilizer producer moves to curb costs, redeploy capital and pursue the sale of assets.The U.S.-based company will begin idling and...Reuters
23 minutes ago
Venezuela's refineries down to 31% of crude processing capacity, workers say
April 8 (Reuters) - Venezuela's refining network is processing some 399,000 barrels per day (bpd) of crude, or 31% of its 1.29 million-bpd installed capacity, below the 35% of capacity it reached in February as state-run company PDVSA struggles to keep units in service after restarting them, wor...Reuters
28 minutes ago
Mosaic to idle mining operations at two complexes in Brazil
April 8 (Reuters) - Ferilizer company Mosaic MOS.N said on Wednesday it will begin the process of idling and demobilizing its Araxá Mining and Chemical Complex and idling related mining activities at the Patrocínio Complex in Brazil.Reuters
29 minutes ago
In call with Trump, Turkey's Erdogan warns against sabotage of peace bid
ISTANBUL, April 8 (Reuters) - Turkish President Tayyip Erdogan said in a phone call with U.S. President Donald Trump that no opportunity should be given for the ceasefire process with Iran to be sabotaged, his office said on Wednesday.It quoted Erdogan as saying that the two-week "window of oppo...Reuters
32 minutes ago
Shippers seek clarity on Hormuz reopening after US-Iran ceasefire deal
Iran to provide safe passage in coordination with its militaryIran says it allowed the first ship to pass after ceasefireMajor shipping companies seeking more clarity to restart transitAsian refiners, traders keen on loading cargoes from the regionBy Jeslyn Lerh and Nerijus Adomaitis SINGAPORE/OS...Reuters
34 minutes ago
Austrian strategic gas and oil reserves are well stocked, says Chancellor
BERLIN, April 8 (Reuters) - Austria's strategic gas and oil reserves are well stocked, Chancellor Christian Stocker said on X on Wednesday, adding his government was taking steps to ensure the country was ready for any scenario after the U.S. and Iran agreed a ceasefire."We cannot influence ...Reuters
40 minutes ago
US crude stocks rise in latest week to highest since June 2023, EIA says
By Scott DiSavinoNEW YORK, April 8 (Reuters) - U.S. crude stockpiles rose by 3.1 million barrels to 464.7 million barrels in the week ended April 3, the highest since June 2023, the U.S. Energy Information Administration said in its weekly Petroleum Status Report on Wednesday.Reuters
41 minutes ago
Vance hits out at 'scandalous' Zelenskiy comments about Hungary's Orban
Vance criticises Zelenskiy's comments about Hungary's OrbanVance echoes Hungarian accusations about Ukrainian interferenceHungarian PM Orban has put Ukraine at centre of campaignOrban faces tough fight for re-election in April 12 electionBy Humeyra Pamuk and Alan Charlish BUDAPEST, April ...Reuters
43 minutes ago
Traders place large $950 million bet on oil price falling hours ahead of ceasefire
Investors sold 8,600 oil futures lots before US-Iran ceasefire, LSEG data showsLarge single trades are rare, typically spread across exchanges to avoid price impactOil trading volumes and volatility have surged since the war, hitting record highsBy Amanda Cooper, Alex Lawler and Ahmad Ghaddar LON...Reuters
46 minutes ago
OMV CEO Alfred Stern To Handelsblatt: Effects Of The Iran War Will Be Felt For Months To Come
April 8 (Reuters) - OMV AG OMVV.VI:OMV CEO ALFRED STERN TO HB: THE EFFECTS OF THE IRAN WAR WILL BE FELT FOR MONTHS TO COMEOMV CEO ALFRED STERN TO HB: RESTORING SUPPLY CHAINS WILL TAKE WEEKSReuters
51 minutes ago
Venezuela's refineries down to 31% of crude processing capacity, workers say
April 8 (Reuters) - Venezuela's refining network is processing some 399,000 barrels per day (bpd) of crude or 31% of its 1.29 million-bpd installed capacity, below the 35% of capacity it reached in February as state-run company PDVSA struggles to keep units in service after restarting them, work...Reuters
an hour ago
EU Commission's oil coordination group sees no urgent supply risk in April
BRUSSELS, April 8 (Reuters) - The European Commission's coordination group on oil, which met on Wednesday to discuss the impact of oil price increases following the Iran crisis, does not see any urgent risk on oil supply during April, a European Union official said after the meeting.The group is...Reuters
an hour ago
