News

Market news: The EU is negotiating to join the US-led alliance to secure technology supply chains.

The U.S. Senate has received enough votes to confirm Warsh as a member of the Federal Reserve Board of Governors for a fourteen-year term starting on February 1, 2026. Voting is still ongoing.

EIA Short-Term Energy Outlook Report: If the Strait of Hormuz is closed until the end of June, crude oil prices will be $20/barrel higher than the current forecast assuming a reopening at the end of May.

EIA Short-Term Energy Outlook Report: Iran is now expected to have to reduce oil production, in part due to the U.S. blockade.

Kremlin spokesman Peskov: Russia has notified the United States and other countries that we will conduct a test of the Sarmat missile.

EIA Annual Energy Outlook Report: U.S. oil production is expected to average 13.73 million barrels per day in May, 13.75 million barrels per day in April, and average production in June is expected to be 13.75 million barrels per day.

The May EIA natural gas production forecast for the next year in the United States is 115 billion cubic feet per day, compared with the previous value of 112.6 billion cubic feet per day.

The U.S. natural gas production for the year in May EIA is expected to be 110.6 billion cubic feet per day, compared with the previous value of 109.6 billion cubic feet per day.

USDA: The U.S. soybean production in May for 2026/2027 is expected to be 4.435 billion bushels, while the market expectation is 4.444 billion bushels. The U.S. soybean ending stocks for 2026/2027 in May are expected to be 310 million bushels, while the market forecast is 361 million bushels. The U.S. soybean yield for the 2026/2027 season in May is expected to be 53 bushels/acre, while the market expectation is 53 bushels/acre.

Market News: The EU bans the import of animal and meat products from Brazil.

Ukrainian President Zelensky: Ukraine attacked natural gas facilities in the Orenburg region of Russia, more than 1,500 kilometers away from Ukraine.

Petrobras CEO: Petrobras can refine any Mexican oil production in Mexico.

Petrobras CEO: The Mexican part of the Gulf of Mexico is untapped and cooperation with Pemex could bring new exploration opportunities.

Central Bank of Russia: Russian exporters generated foreign exchange sales of $7.3 billion in April.

Petrobras CEO: Will focus on Venezuela and Mexico for expansion.

Central Bank of Russia: Due to rising global oil prices, foreign exchange sales in the Russian market doubled in April to $29.8 billion.

The German DAX30 index closed down 404.34 points, or 1.66%, at 23951.07 points on May 12 (Tuesday);The British FTSE 100 index closed down 10.94 points, or 0.11%, at 1025 on May 12 (Tuesday). 8.49 points;The FCHI index closed down 76.46 points, or 0.95%, at 7979.92 points on May 12 (Tuesday);The European Stoxx 50 Index closed down 83.89 points, or 1.42%, on May 12 (Tuesday). It closed at 5811.56 points;Spain’s IBEX35 index closed down 289.00 points, or 1.62%, on Tuesday, May 12, at 17563.50 points;Italy’s FTSE MIB index closed down 679.45 points, or 1.37%, at 48985.50 points on May 12 (Tuesday).

The U.S. Treasury bond auction for the six weeks to May 12 - the winning rate allocation percentage was 9.46%, compared with the previous value of 58.71%.

The U.S. six-week Treasury bond auction through May 12 - the winning rate was 3.615%, compared with the previous value of 3.60%.

The U.S. Treasury bond auction for the six weeks to May 12 - the bid-to-bid ratio was 2.8, compared with the previous value of 3.07.