SteveChristensen/iStock Unreleased via Getty Images By Warren Patterson , Head of Commodities Strategy | Ewa Manthey , Commodities Strategist Energy - Saudis cut oil prices Oil prices are under renewed pressure as the ceasefire between the US and Iran appears to be holding despite recent escalation in the Persian Gulf. Meanwhile, the market sold off further in early morning trading today after Pre...
SteveChristensen/iStock Unreleased via Getty Images By Warren Patterson , Head of Commodities Strategy | Ewa Manthey , Commodities Strategist Energy - Saudis cut oil prices Oil prices are under renewed pressure as the ceasefire between the US and Iran appears to be holding despite recent escalation in the Persian Gulf. Meanwhile, the market sold off further in early morning trading today after President Trump paused “Project Freedom” as the US seeks a deal to end the war with Iran. Trump said “great progress” has been made towards a “complete and final agreement”. “Project Freedom” is Trump’s plan to guide stranded commercial vessels in the Persian Gulf through the Strait of Hormuz. Its implementation led to a flare-up in tensions between the US and Iran. Looking ahead, developments in the Middle East will remain key to price direction. A deal that normalises oil flows through the Strait of Hormuz is crucial. Roughly 13 mb/d of disrupted supply is being largely offset by inventory, which is clearly declining rapidly. This leaves the market more vulnerable with each passing day. Tighter stocks will only leave the oil market trading in an ever more volatile manner. US oil inventory numbers from the American Petroleum Institute (API) show that crude oil inventories fell by 8.1m barrels over the last week. Gasoline and distillate stocks fell by 6.1m barrels and 4.6m barrels, respectively. The more widely followed Energy Information Administration (EIA) inventory data will be released today. Ahead of the release, US commercial crude oil inventories remain comfortable at 459m barrels, slightly over 1% above the seasonal 5-year average. Yet this can change quickly, particularly if we continue to see record US crude oil exports. US refined product stocks are a lot tighter heading into the release. US gasoline inventories stand at a little more than 222m barrels, down from 259m barrels in early February and at the lowest level for this time of year since 2014. Distillate sto...
baona/iStock via Getty Images By Kelvin Wong After the "final verbal warning" and actual FX intervention by Japanese authorities last Thursday, May 30, 2026 (Bloomberg reported that Japan spent $34.5 billion to buy up the yen), the USD/JPY plummeted by 2.4% (its worst daily loss since December 20, 2022) to hit a two-month low of 155.49 on Friday, May 1, 2026. Thereafter, the USD/JPY staged a rebou...
baona/iStock via Getty Images By Kelvin Wong After the "final verbal warning" and actual FX intervention by Japanese authorities last Thursday, May 30, 2026 (Bloomberg reported that Japan spent $34.5 billion to buy up the yen), the USD/JPY plummeted by 2.4% (its worst daily loss since December 20, 2022) to hit a two-month low of 155.49 on Friday, May 1, 2026. Thereafter, the USD/JPY staged a rebound of 1.5% in the next three sessions to print an intraday high of 157.94 in today’s (Wednesday, May 6’s) start of the Asian session. The 1.5% rebound of the USD/JPY is likely a minor corrective rebound (aka dead cat bounce) within a minor downtrend phase, as the latest Japanese authorities' intervention has triggered the start of a short-term bearish trend. Technical elements also suggest the end of the three sessions of rebound and a return of the bearish impulsive down-move sequence for the USD/JPY. In today’s Asian session (Wednesday, May 6) at the 12 pm SGT hour mark, the USD/JPY plummeted swiftly in a span of 15 minutes (a drop of close to two big figures from 157.83 to 155.80 at this time of writing). It smells like a second round of intervention. Let’s focus now on the short-term trajectory (1-3 days) of the USD/JPY from a technical analysis perspective. USD/JPY - Bearish breakdown below "Ascending Wedge" support at 157.55 Fig. 1: USD/JPY minor trend as of 6 May 2026 (Source: TradingView). Trend bias: Bearish below 157.30/55 short-term pivotal resistance (see Fig. 1). Supports : 155.55, 154.65, 154.05 (also 200-day MA), and 152.65 (also a Fibonacci extension) Next resistances : 158.10 and 158.60 (also 50-day MA) Key elements to support the near-term bearish bias on USD/JPY The rebound on the USD/JPY from its May 1, 2026 low of 155.55 has taken on the form of a bearish "Ascending Wedge" corrective configuration. Price actions have broken below the "Ascending Wedge" support at 157.55, reinforcing the start of another bearish impulsive down-move sequence within its ong...
Orsted A/S reaffirmed its earnings guidance for the year, as the Danish utility doubles down on its European business. The company is refocusing on its core strength — developing and building offshore wind farms closer to home, where the technology plays a central role in climate and energy security. Its expansion into the US over the past decade proved costly, resulting in significant losses and ...
Orsted A/S reaffirmed its earnings guidance for the year, as the Danish utility doubles down on its European business. The company is refocusing on its core strength — developing and building offshore wind farms closer to home, where the technology plays a central role in climate and energy security. Its expansion into the US over the past decade proved costly, resulting in significant losses and canceled projects. The firm expects earnings before interest, taxes, depreciation and amortization, excluding new partnerships and cancellation fees, to exceed 28 billion Danish kroner ($4.4 billion), it said in an earnings statement on Wednesday. At the same time, the company continues to advance a series of offshore wind projects, including two major US developments previously delayed by legal challenges during the Trump administration. Both are now on track for completion in 2026 and 2027. However, completion of a German offshore wind farm has been pushed back to the third quarter of this year due to power grid issues, according to a company presentation. To strengthen its balance sheet, Orsted raised 60 billion Danish kroner from shareholders last year. Shares in Orsted have climbed about 37% this year, recovering nearly all of the market value lost following last year’s share sale announcement.
Ørsted A/S press release ( DNNGY ): Q1 GAAP EPS of DKK 1.60. Revenue of DKK 27.62B (+33.4% Y/Y). EBITDA excluding new partnerships and cancellation fees increased 11% amounted to DKK 9.5 billion in Q1 2026, compared to DKK 8.9 billion in the same period last year. Full-year guidance on EBITDA and gross investments maintained. More on Ørsted A/S ØRsted: Back To An Execution Focus Ørsted A/S (DNNGY)...
Ørsted A/S press release ( DNNGY ): Q1 GAAP EPS of DKK 1.60. Revenue of DKK 27.62B (+33.4% Y/Y). EBITDA excluding new partnerships and cancellation fees increased 11% amounted to DKK 9.5 billion in Q1 2026, compared to DKK 8.9 billion in the same period last year. Full-year guidance on EBITDA and gross investments maintained. More on Ørsted A/S ØRsted: Back To An Execution Focus Ørsted A/S (DNNGY) Q4 2025 Earnings Call Transcript Ørsted A/S 2025 Q4 - Results - Earnings Call Presentation UK power stocks fall as Reeves moves to break gas-electricity price link; SSE, Centrica, Drax, Ørsted slide Ørsted jumps as BofA says risk of adverse policy action against its U.S. offshore projects has eased
Novo Nordisk A/S said this year’s declines won’t be as bad as initially expected thanks to the new Wegovy pill, which helped fuel sales in the first quarter. For the year, the worst drop for both profit and sales will be 12%, compared with 13% earlier. Bloomberg’s Sanne Wass reports from Copenhagen.
Novo Nordisk A/S said this year’s declines won’t be as bad as initially expected thanks to the new Wegovy pill, which helped fuel sales in the first quarter. For the year, the worst drop for both profit and sales will be 12%, compared with 13% earlier. Bloomberg’s Sanne Wass reports from Copenhagen.
Diageo Plc ’s sales rose more than expected in the third quarter as growth in Africa and Latin America was enough to offset significant weakness in the US. The maker of Johnnie Walker whisky and Guinness stout said Wednesday that organic net sales rose 0.3% in the period, beating the 2.3% slump expected by analysts surveyed by Bloomberg. Diageo kept its guidance for this fiscal year unchanged and ...
Diageo Plc ’s sales rose more than expected in the third quarter as growth in Africa and Latin America was enough to offset significant weakness in the US. The maker of Johnnie Walker whisky and Guinness stout said Wednesday that organic net sales rose 0.3% in the period, beating the 2.3% slump expected by analysts surveyed by Bloomberg. Diageo kept its guidance for this fiscal year unchanged and expects organic net sales to decline between 2% and 3%. Like rival drinks makers, Diageo is grappling with persistent weak demand for beer and spirits in critical markets, including the US. Consumers are moderating their alcohol intake to improve their health and in response to higher living costs from US President Donald Trump ’s trade tariffs and conflict in the Middle East. The distiller is also trying to overcome self-inflicted errors such as poor service levels to some customers since Covid and an intense focus on premium drinks that has left the company underrepresented in growing parts of the market, like “ready-to-drink” canned cocktails. Performance in North America was particularly weak with organic net sales down 9.4% as a result of weak demand and the need for a more competitive offer there, the company said. New Chief Executive Officer Dave Lewis will share the full details of his turnaround strategy on Aug. 6, when Diageo reports its full year results.
Good morning . Donald Trump is halting a plan to guide ships through Hormuz as he seeks a final deal. Emmanuel Macron taps his former chief of staff for France’s central bank head. And Alphabet borrows almost $17 billion to invest in AI. Listen to the day’s top stories . Market Snapshot S&P 500 futures 7,308.25 +0.3% Nasdaq 100 futures 28,338.00 +0.7% WTI crude oil futures $101.01 -1.2% Euro $1.17...
Good morning . Donald Trump is halting a plan to guide ships through Hormuz as he seeks a final deal. Emmanuel Macron taps his former chief of staff for France’s central bank head. And Alphabet borrows almost $17 billion to invest in AI. Listen to the day’s top stories . Market Snapshot S&P 500 futures 7,308.25 +0.3% Nasdaq 100 futures 28,338.00 +0.7% WTI crude oil futures $101.01 -1.2% Euro $1.17 +0.3% Market data as of 06:46 AM GMT. Data is subject to provider delays. President Donald Trump said he would pause a US-led effort to help stranded ships exit the Strait of Hormuz, while seeing if a deal can be reached with Iran to end the war. The naval blockade on Iranian ports remains in force. Stocks hit a record high and oil fell after Trump signaled progress towards a final agreement with Iran, boosting markets already fueled by a rally in technology shares. The yen rallied, building upon gains triggered by government intervention last week. Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets. The European Union urged Washington to adopt the main parts of a trade deal by July and respect the pact’s previous commitments, including a 15% tariff ceiling. In France, President Emmanuel Macron tapped one of his closest advisers , Emmanuel Moulin, to run the Bank of France. Alphabet raised almost $17 billion in debt to fund its AI investments. It’s also said to be in talks with Blackstone, KKR and EQT to give the firms they own access to Google’s AI models. Separately, Blue Owl-owned data center company Stack is said to weigh a sale of its Asian operations that may be valued at more than $30 billion. Novo Nordisk said its new Wegovy pill helped fuel quarterly sales and forecast a smaller-than-expected decline in profit and revenue. In other earnings , Infineon’s revenue outlook beat on AI spending boom and BMW’s returns slipped on intense competition in China. Merz’s Ambitions for Germany Crash Into a World Upended by Trump Pol...
(RTTNews) - Occidental Petroleum Corporation (OXY), a company engaged in hydrocarbon exploration, posted a surge in its net income for the first quarter, helped by a gain on the sale of OxyChem, despite lower revenues.
(RTTNews) - Occidental Petroleum Corporation (OXY), a company engaged in hydrocarbon exploration, posted a surge in its net income for the first quarter, helped by a gain on the sale of OxyChem, despite lower revenues.
(RTTNews) - German flag carrier Deutsche Lufthansa AG (DLAKF, DLAKY) reported Wednesday narrower net loss in its first quarter as revenues were benefited by robust demand. Further, the firm maintained positive outlook for fiscal 2026.
(RTTNews) - German flag carrier Deutsche Lufthansa AG (DLAKF, DLAKY) reported Wednesday narrower net loss in its first quarter as revenues were benefited by robust demand. Further, the firm maintained positive outlook for fiscal 2026.