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Market Chatter: UK Energy Minister Miliband Urged PM Starmer to Consider Exit Timeline

UK Energy Secretary Ed Miliband has privately urged Prime Minister Keir Starmer to consider setting out a timeline for his resignation amid concerns over Labour's performance in local elections, The Times reported on Thursday, citing sources.The report said Miliband raised the suggestion during a meeting around two weeks ago as speculation grows over Starmer's future if Labour suffers heavy losses in Thursday's local elections.Potential rivals including Angela Rayner and Wes Streeting are also preparing possible leadership bids, according to the newspaper.A spokesperson for Miliband disputed The Times' account but declined to comment on private conversations or specifically deny that the suggestion had been made. The spokesperson said Miliband continues to support the prime minister.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Equities1d ago

Shell CEO Says Oil Market Faces Nearly 1 Billion Barrel Shortage Due to Iran War

Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day."Speaking during Shell's first-quarter earnings call on Thursday, Sawan said the market has lost significant volumes either through "locked-in barrels or unproduced barrels," adding that the recovery process would take time.He said Shell was already seeing the impact across the refining market, with some demand destruction emerging in sectors such as aviation.Sawan added that the extent of future demand weakness remained uncertain and would depend on how the conflict evolved in coming months.The comments come as disruptions linked to the Iran conflict continue to tighten global crude and fuel markets, particularly around the Strait of Hormuz, a key route for oil and LNG shipments.Shell executive said up to 15% of global crude supplies have been disrupted by the conflict.

$SHEL

Equities1d ago

Valero Energy Keeps Quarterly Dividend at $1.20 a Share, Payable on June 23 to Shareholders of Record on May 21

$VLO

Equities1d ago

South Bow Q1 Normalized Net Income, Revenue Fall

South Bow (SOBO) reported Q1 normalized net income late Thursday of $0.44 per share, down from $0.47 a year earlier.Analysts polled by FactSet expected $0.44.Revenue in the three months ended March 31 fell to $491 million from $498 million a year earlier.Two analysts surveyed by FactSet expected $482.8 million.

$SOBO

Equities1d ago

Update: WTI Falls Again on Hopes a Deal to End the Iran War is Near

West Texas Intermediate (WTI) crude oil fell for a third-straight session on Thursday but rose off the day's low on uncertain prospects for a potential peace deal between the United States and Iran.WTI crude oil for June delivery closed down US$0.27 to settle at US$94.81 per barrel, after earlier touching US$89.85. July Brent oil was last seen down US$0.67 to US$100.60The drop, which follows on Wednesday's 7% fall for WTI prices, comes amid rising optimism the United States and Iran are closer to a peace deal. However the outlook for a deal is uncertain. The Guardian reported while U.S. President Trump is saying a deal is "very possible", Iranian media are reporting is only reviewing the proposal and considering its response.There is no certainty talks will result in a deal between the two countries that will see a quick reopening of the Strait of Hormuz, the chokepoint for exports from Persian Gulf nations that supplied 20% of the world's daily oil demand. More than 1,000 ships have been trapped in the Gulf since the Feb. 28 start to the war and supplies of oil, refined products, LNG, fertilizer and other commodities are running short."We should not be too optimistic about immediate agreement. A spokesperson for the Iranian finance ministry pushed back yesterday, calling parts of the US framework "ambitious and unrealistic proposals". So far, Tehran's wish list: set out in its 14-point response on May 2, is unchanged: full sanctions relief, release of frozen state assets, ~$270bn in reparations / reconstruction financing ("only way" to end the conflict), and a new multilateral mechanism for the SoH (Strait of Hormuz) that effectively recognizes Iranian sovereignty over it," Ole Hvalbye, a commodities analyst at SEB Research, wrote.

$CLM6$LCON6$USO

Equities1d ago

UBS Adjusts Price Target on Chord Energy to $179 From $176, Maintains Buy Rating

Chord Energy (CHRD) has an average rating of overweight and mean price target of $168, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CHRD

Equities1d ago

UBS Adjusts Price Target on Occidental Petroleum to $65 From $67, Maintains Neutral Rating

Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$OXY

Equities2d ago

RBC Capital Adjusts Cenovus Energy PT to CA$45 From CA$42, Maintains Outperform Rating

Cenovus Energy (CVE) has an average rating of overweight and mean price target of $97.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CVE

Equities2d ago

BKV Q1 Adjusted Earnings Fall, Revenue Rises

BKV (BKV) reported Q1 adjusted earnings Thursday of $0.22 per diluted share, down from $0.44 a year earlier.An analyst polled by FactSet expected $0.36.Revenue for the quarter ended March 31 was $432.8 million, up from $176.1 million a year earlier.

$BKV

Equities2d ago

B. Riley Adjusts Hallador Energy Price Target to $29 From $27, Maintains Buy Rating

Hallador Energy Co (HNRG) has an average rating of Buy and mean price target of $26.90, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HNRG

Equities2d ago

Argus Adjusts Price Target on Exxon Mobil to $169 From $166

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $165.43, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$XOM

Equities2d ago

Adnoc Tankers Shut Signals to Cross Hormuz

Abu Dhabi National Oil Co., or Adnoc, LNG tankers reportedly switched off signals to cross the Strait of Hormuz.Bloomberg News reported Thursday, citing analysis of vessel-tracking data and sources, that at least two Adnoc tankers crossed the strait by going dark.Adnoc did not immediately respond to a request for comment from.

$^FADGI

Equities2d ago

NEO NEXT+ Energy to Acquire Deltic Energy in GBP7 Million Cash Deal

Deltic Energy (DELT.L) agreed to a recommended 7.2 million-pound-sterling cash acquisition by the UK-based upstream oil and gas business NEO NEXT+ Energy at 0.077 pounds per share.Under the deal, NEO NEXT+ will acquire the entire issued and to be issued share capital of the natural resources investor on a fully diluted basis, according to a Thursday filing.The offer represents a 156.7% premium, and NEO NEXT+ has agreed to provide an up to 2.9 million-pound bridging loan to Deltic to refinance existing debt.

$DELT.L

Equities2d ago

Cheniere Energy Swings to Q1 Loss, Revenue Increases

Cheniere Energy (LNG) reported Thursday a Q1 loss of $16.65 per diluted share, swinging from earnings of $1.57 a year earlier.Revenue for the quarter ended March 31 was $5.87 billion, up from $5.44 billion a year earlier.Analysts surveyed by FactSet expected $5.67 billion.Shares of the company were down 3.9% in premarket activity Thursday.

$LNG

Equities2d ago

DA Davidson Raises Price Target on EOG Resources to $153 From $148, Keeps Buy/Add Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $157.47, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$EOG

Equities2d ago

Earnings Flash (BKV) BKV Posts Q1 Total Revenue and Other Operating Income $432.8M, vs. FactSet Est of $337.6M

$BKV

Equities2d ago

Earnings Flash (BKV) BKV Posts Q1 Adjusted EPS $0.22, vs. FactSet Est of $0.36

$BKV

Equities2d ago

Canadian Natural Resources Q1 Adjusted Earnings Rise, Revenue Falls

Canadian Natural Resources (CNQ) reported Q1 adjusted earnings Thursday of CA$1.17 ($0.86) per diluted share, up from CA$1.16 a year earlier.Analysts polled by FactSet expected CA$1.05.Revenue for the quarter ended March 31 was CA$10.81 billion, down from CA$10.94 billion a year earlier.Analysts polled by FactSet expected CA$10.53 billion.

$CNQ

Equities2d ago

Mizuho Adjusts Price Target on APA to $32 From $29

APA (APA) has an average rating of hold and mean price target of $41.82, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$APA

Equities2d ago

Earnings Flash (CNQ) Canadian Natural Resources Posts Q1 Revenue CA$10.81B, vs. FactSet Est of CA$10.53B

$CNQ

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