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London Metal Exchange (LME) three-month tin has been treading water in a $23,700-26,800 range since the start of May. Although the demand outlook remains subdued, tin supply is facing two big threats, one from Myanmar and one from Indonesia, the world's largest exporter. Global tin supply, meanwhile, is now improving after an early-year drop in Indonesia shipments. Refined tin production fell year-on-year in May and Guangxi China Tin Group, the world's sixth-largest tin producer, has just announced a 40-50 day maintenance break from the end of this month, according to the ITA. Indonesia currently only has enough downstream capacity to absorb 5% of its domestic tin production, meaning that any restrictions will likely come in phases.

Persons: Minsur, International Tin Association . Tin, It's, David Evans Organizations: London Metal Exchange, Global, Shanghai Futures Exchange, U.S, Global Semiconductor, HIT, World Semiconductor Trade Statistics, Local, United Wa State Army, International Tin Association ., ITA, Guangxi China Tin Group, Thomson, Reuters Locations: Midwest, London, imploding, Myanmar, Indonesia, Peruvian, United States, Europe MYANMAR, Wa, China, Wa State, Guangxi China, INDONESIA

LONDON, June 8 (Reuters) - Europe’s gas storage is refilling much more slowly than usual as the drop in prices encourages more consumption by industrial users and power generators while diverting liquefied natural gas (LNG) cargoes to Asia. The surplus has narrowed from +282 TWh (+80% or +2.41 standard deviations) at the end of the traditional winter drawdown season on March 31 (“Aggregated gas storage inventory”, Gas Infrastructure Europe, June 8). Chartbook: Europe gas inventories and pricesInventories have responded to lower prices, with front-month futures prices down by more than 90% from its peak in August 2022. Lower prices in Europe are also diverting more LNG cargoes to price-sensitive customers in South and East Asia for power generation. Related columns:- Europe’s gas prices slide on swollen inventories (May 11, 2023)- Europe only has space for a small gas refill in 2023 (April 14, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Susan Fenton Organizations: European Union, Gas Infrastructure, Thomson, Reuters Locations: Asia, United Kingdom, Gas Infrastructure Europe, Chartbook, Europe, South, East Asia

☆ Dollar bears bide their time as US economic strength persists
▼ + stars: | 2023-06-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Fund managers in the latest BofA Global Research survey named shorting the dollar as the market's third "most crowded" trade. The dollar is "in a very messy transition from bull market to a bear market," said Aaron Hurd, senior portfolio manager, currency, at State Street Global Advisors. Hurd expects the dollar to remain buoyant over the very short term, but decline steadily over the next few years. Most investors believe the dollar will likely remain elevated until U.S. data turns decidedly weaker, allowing the Fed to cut rates. "The dollar strength is entirely related to the fact that U.S. data is actually pretty good," said Alvise Marino, a strategist at Credit Suisse.

Persons: Aaron Hurd, Hurd, Alvise Marino, Bipan Rai, Christine Lagarde, Brian Rose, Saqib Iqbal Ahmed, Ira Iosebashvili, Leslie Adler Organizations: YORK, Futures Trading Commission, Fund, Research, Street Global Advisors, Bears, Federal Reserve, Fed, Traders, Credit Suisse, Reuters, U.S . Treasury, CIBC, UBS Global Wealth Management, European Central Bank, ECB, Thomson Locations: U.S, North America, Europe

☆ Here's our Monthly Meeting rapid-fire update on all 34 stocks in the Club's portfolio
▼ + stars: | 2023-05-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +13 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Ford (F): CEO Jim Farley did a fantastic job delivering in the automaker's latest quarter, and we like his decision to scale back Ford's business in China . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club.

However, an 18.9% year-on-year rise in China's oil refinery throughput in April to the second-highest level on record helped to keep a floor under crude prices. The IEA raised its forecast for global oil demand this year by 200,000 bpd to a record 102 million bpd. It said China's recovery after the lifting of COVID-19 curbs had surpassed expectations, with demand reaching a record 16 million bpd in March. In another bullish development, the U.S. Department of Energy on Monday said it would buy 3 million barrels of crude oil for delivery in August in a move to begin refilling the Strategic Petroleum Reserve. Meanwhile, U.S. commercial crude stocks fell by about 1.3 million barrels last week, according to analysts polled by Reuters.

Spain has one swimming pool for every 37 residents, and these, too, are now in the spotlight. While her swimming pool has been empty for five years since her children grew up, Garcia, 61, said the town has been stigmatised unfairly for its pools. Pools are being used as a scapegoat for a lack of coherent water policy in Spain, she said. It is a sentiment shared by Gonzalo Delacamara, director of the IE Centre for Water & Climate Adaptation in Madrid. While the use of water to fill swimming pools during a drought is irresponsible, the bulk of Spain's water resources are taken by the agriculture sector, accounting for 70% of water usage, he said.

☆ FDIC plans to hit big banks with fees to refill deposit insurance fund - Bloomberg News
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder/File PhotoMay 4 (Reuters) - The U.S. Federal Deposit Insurance Corporation is planning to exempt smaller lenders from kicking in extra money to replenish the government's bedrock deposit insurance fund, and instead saddle the biggest banks with much of the bill, Bloomberg News reported on Thursday, citing people familiar with the matter. The FDIC is planning to release a highly anticipated proposal for refilling its deposit insurance fund as soon as next week, the report added. The FDIC and its flagship deposit insurance fund have been active since the Great Depression to provide an orderly resolution for failed banks and to reimburse certain customer accounts. The regulator estimates the failure of Silicon Valley Bank will cost the deposit insurance fund $20 billion.

☆ Coronation travel guide: Transport advice, London hotels and where to watch
▼ + stars: | 2023-04-28 | by ( Julia Buckley | ) edition.cnn.com time to read: +16 min

Take the Conrad London St. James, for example, which sits between the Mall and Westminster Abbey. Most of the roads around Westminster Abbey and St. James’s Park Underground station will be blocked off. How to see the coronationCharles and Camilla will ride in the Diamond Jubilee State Coach to Westminster Abbey for the ceremony. Niklas Halle'n/AFP/Getty ImagesThe coronation itself will take place on the morning of Saturday May 6 at Westminster Abbey. Royal Windsor Racecourse, near Windsor Castle, and on the bank of the River Thames, is having a race night to celebrate the day’s public holiday.

☆ 'Love Is Blind' is hell on earth: Contestants say producers deprived them of food and sleep, preyed on their anxieties, and refused to let them quit
▼ + stars: | 2023-04-18 | by ( Katie Warren | ) www.businessinsider.com time to read: +29 min

After the 10 days, cast members must decide whether they want to get engaged to another contestant sight unseen — or go home. The season-two contestant Nick Thompson said "Love Is Blind" didn't adequately support its cast members — during or after filming. Many cast members believed "Love Is Blind" would be a cut above other reality shows. The first evening in Cancún, producers told Ruhl she couldn't attend a party for all the newly engaged couples because they thought she might have COVID-19. In a later episode he again became infuriated and threatened to leave when Reed came home late from clubbing with other cast members.

LONDON, April 14 (Reuters) - Europe needs to put a smaller-than-average volume of gas into storage this year after a mild winter left the region with record high inventories. Chartbook: Europe gas storageThe European Union and the United Kingdom have capacity to store around 1,129 terawatt-hours (TWh) of gas, according to data compiled by Gas Infrastructure Europe (GIE). On April 1, the start of the traditional refill season, storage was 56% full - a record high for the time of year - with inventories of 633 TWh (“Aggregated gas storage inventory”, GIE, April 14). DEEPENING CONTANGOPrices and spreads are now moving decisively to limit the amount of gas added to storage this summer. Related column:- Europe’s gas outlook transformed after mild winter (April 13, 2023)John Kemp is a Reuters market analyst.

☆ Estonia PM focused on defence spending and same sex marriage law
▼ + stars: | 2023-04-12 | by ( Andrius Sytas | ) www.reuters.com time to read: +3 min

[1/2] Estonian Prime Minister Kaja Kallas speaks to the media as she attends the European Union leaders summit in Brussels, Belgium March 23, 2023. REUTERS/Johanna GeronTALLINN, April 12 (Reuters) - Kaja Kallas said on Wednesday she was focused on her next term as Estonian prime minister despite media speculation she could be in the running to lead NATO, with plans including legalising same sex marriage and increasing defence spending. Taxes will be raised to fund the spending in a time of economic contraction, Kallas has said. The new government will also legislate same sex marriage equality "as fast as possible", Kallas said, becoming the first Central European country to do so. I'm the prime minister of Estonia, and I try to solve all the problems that we have here."

☆ How FDIC dropped the ball and picked up the tab
▼ + stars: | 2023-04-04 | by ( John Foley | ) www.reuters.com time to read: +7 min

NEW YORK, April 4 (Reuters Breakingviews) - Bank watchdogs don’t have a crystal ball when it comes to spotting bank runs. The FDIC is one of several agencies that watches over American banks, but it’s the one that picks up the tab when a lender fails. Gruenberg, on the FDIC board since 2005, did not support the rapid phased prototyping data project, fretting that it amounted to outsourcing supervision, according to people familiar with the situation. For all but the biggest banks, the FDIC continues to rely on quarterly snapshots known as “call reports,” and the findings of its on-the-ground inspectors. Reuters GraphicsThe death of the 2020 project – and the fact it didn’t start years sooner – reflect deeper challenges at the FDIC.

LONDON, March 31 (Reuters) - China’s liquefied natural gas (LNG) imports fell sharply in 2022 because of the disruption caused by lockdowns to control the coronavirus epidemic and the massive exit wave of infections when they were lifted. But the import rebound could be smaller than some analysts anticipate because domestic gas production is rising strongly and the country has mostly completed its transition to natural gas for urban residents. Both LNG and pipeline imports remained subdued in the first two months of this year with any rebound delayed until later in 2023. China’s LNG purchasers have proved price-sensitive and will likely wait for prices to decline before increasing imports and refilling storage. PIPELINES NOT LNGThe shift from LPG and especially gasworks gas has turbocharged consumption of natural gas over the last decade.

☆ Oil falls as US holds off refilling strategic reserve
▼ + stars: | 2023-03-24 | by ( Yuka Obayashi | ) www.reuters.com time to read: +2 min

TOKYO, March 24 (Reuters) - Oil prices fell on Friday, extending the previous day's losses, on worries about potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve (SPR) may take several years. The White House said in October it would buy back oil for the SPR when prices were at or below about $67-$72 per barrel. Deputy Prime Minister Alexander Novak said a previously announced cut of 500,000 barrels per day (bpd) in Russia's oil production would be from an output level of 10.2 million bpd in February, the RIA Novosti news agency reported. That would mean Russia is aiming to produce 9.7 million bpd between March and June, when the production cut will be in force, according to Novak - a much smaller reduction in output than Moscow previously indicated. On the supportive side, Goldman Sachs said commodities demand was surging in China, the world's biggest oil importer, with oil demand topping 16 million bpd.

☆ Oil falls as U.S. holds off refilling strategic reserve
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: +2 min

Some pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, California. Oil prices rose in early Asian trade on the prospect that a stalled Iran nuclear deal and Moscow's new mobilization campaign would restrict global supplies. Oil prices fell on Friday, extending the previous day's losses, on worries about potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve or SPR may take several years. The White House said in October it would buy back oil for the SPR when prices were at or below about $67-$72 per barrel. On the supportive side, Goldman Sachs said commodities demand was surging in China, the world's biggest oil importer, with oil demand topping 16 million bpd.

West Texas Intermediate U.S. crude futures fell 70 cents, or 1%, to $69.26 a barrel. Brent futures rose 2.8% in the week while U.S. crude futures rose 3.8%. The dollar rose 0.6% against other currencies, which also pressured oil, making crude more expensive to holders of other currencies. Goldman Sachs said commodities demand was surging in the world's biggest oil importer, with oil demand topping 16 million bpd. That means Russia aims to produce 9.7 million bpd between March and June, according to Novak, a much smaller output cut than Moscow previously indicated.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 72.86 points, or 0.4%, at 19,459.92, preliminary data showed. The energy sector fell 1.8% as the price of oil settled 1.3% lower at $69.96 a barrel. Oil fell after U.S. Energy Secretary Jennifer Granholm told lawmakers that refilling the country's Strategic Petroleum Reserve (SPR) may take several years. Heavily weighted financials were down 0.7% as concerns about the global banking sector lingered following interest rate hikes by the Swiss National Bank and the Bank of England. Bombardier shares ended up 2.8% after the company raised its 2025 revenue and free cash flow targets at its investor day, banking on strong demand for private flights.

☆ Oil drops as oversupply concerns overshadow demand hopes
▼ + stars: | 2023-03-23 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Brent crude futures fell 46 cents, or 0.6%, to $76.23 a barrel by 2:15 p.m. EDT (1815 GMT), while the U.S. West Texas Intermediate crude futures slid by 57 cents, or 0.8%, to $70.33 a barrel. Oil benchmarks were slightly higher before the news on hopes that a lower dollar and higher gasoline prices would spur more demand for the commodity. A weaker greenback makes dollar-denominated oil more attractive to holders of foreign currencies, lifting demand. Higher gasoline demand will encourage refiners to use more crude oil to turn it into the road transportation fuel, Mizuho analyst Robert Yawger said. Also supportive, Goldman Sachs on Thursday said demand from China, the world's biggest oil importer, continued to surge across the commodity complex, with oil demand topping 16 million barrels per day.

March 17 (Reuters) - Oil prices took a dive on Friday, reversing early gains of more than $1 a barrel and falling by more than $3, as banking sector fears set crude on course for its biggest weekly decline in months. Brent was on track for its biggest weekly fall since December at more than 10%, with WTI heading toward a loss of more than 11%, its biggest since last April. Pressure this week followed the collapse of Silicon Valley Bank (SVB) and Signature Bank and trouble at Credit Suisse and First Republic Bank. The drop in prices highlights "the continued fragile state of the market", said Ole Hansen, head of commodity strategy at Saxo Bank. Analysts still expect constrained global supply to support prices in the foreseeable future.

Companies Signature Bank FollowSINGAPORE, March 17 (Reuters) - Oil prices firmed on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, but were headed for their biggest weekly falls since December as a banking crisis rocked global financial and oil markets. U.S. West Texas Intermediate crude went up by 21 cents to $68.53 a barrel, after closing 1.1% higher in the previous session. China's demand rebound will be positive for oil prices if upcoming data shows a good recovery of the country's economy, said analyst Tina Teng of CMC Markets. However, contagion risks among banks are still keeping investors on edge, curbing their appetite for assets such as commodities, as they fear a further rout could trigger a global recession and cut oil demand. These issues regarding inflation, the central bank's rate hikes, and confidence in financial systems cannot be settled quickly," Teng said.

☆ Oil steadies as investors take stock of banking crisis
▼ + stars: | 2023-03-17 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, March 17 (Reuters) - Oil prices were little changed on Friday after a meeting between Saudi Arabia and Russia calmed markets, but crude benchmarks were still headed for a second weekly fall after a banking crisis sparked a sell-off in global financial markets this week. Brent crude futures edged up 2 cents to $74.72 a barrel by 0133 GMT, having snapped three days of losses to settle 1.4% higher on Thursday. U.S. West Texas Intermediate crude was at $68.33 a barrel, down 2 cents after closing 1.1% higher in the previous session. Contagion risks among banks are still keeping investors on edge, curbing their appetite for assets such as commodities as they fear a further rout could trigger a global recession and cut oil demand. "The sudden failure of SVB and Signature Bank forced a rethink about the health of the broader economy and spooked markets," JPMorgan analysts said in a note.

March 17 (Reuters) - Oil prices settled lower Friday, reversing early gains of more than $1 a barrel as banking sector fears caused both benchmarks to reach their biggest weekly declines in months. U.S. West Texas Intermediate crude fell $1.61, or 2.4%, at $66.74. Oil prices tracked equity markets lower, dogged by the banking sector crisis and worries about possible recession. Pressure stemmed from "the continued fragile state of the market", said Ole Hansen, head of commodity strategy at Saxo Bank. Analysts still expect constrained global supply to support oil prices in the foreseeable future.

Companies Signature Bank FollowSINGAPORE, March 17 (Reuters) - Oil prices rebounded by about 1% on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, after a banking crisis sparked a sell-off in global financial and oil markets this week. U.S. West Texas Intermediate crude climbed 78 cents to $69.13 a barrel, after closing 1.1% higher in the previous session. China's demand rebound will be positive for oil prices if upcoming data shows a good recovery of the country's economy, said analyst Tina Teng of CMC Markets. However, contagion risks among banks are still keeping investors on edge, curbing their appetite for assets such as commodities, as they fear a further rout could trigger a global recession and cut oil demand. These issues regarding inflation, the central bank's rate hikes, and confidence in financial systems, cannot be settled quickly," Teng said.

European gas prices rallied in the run-up to Moscow's invasion of Ukraine begun almost exactly a year ago and they leapt to record highs when Russia subsequently cut supplies of relatively cheap pipeline gas. Although European prices have eased to around 50 euros ($53) per megawatt hour (MWh) from last August's peak of more than 340 euros, they remain above historic averages. That was even when they had received significant levels of Russian gas on long-term contracts prior to the shut down of the Nord Stream pipeline to Germany in August. Nord Stream's closure drove up European gas prices, as well as liquefied natural gas (LNG) prices, which also hit record levels of around 70 million British thermal units (mmBtu), compared with around $16 now . That could be tricky as the fall in gas prices this year has reduced the incentive to avoid the fuel.

☆ Oil prices slide as the US says it will sell millions more barrels of oil from its strategic reserve into the global market
▼ + stars: | 2023-02-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Oil prices fall Tuesday after the US said it plans to sell more oil from the Strategic Petroleum Reserve. The Energy Department will start the sale of 26 million barrels of sweet crude in April. Brent crude oil, the global benchmark, fell 1.5% to $85.40 a barrel but was off lows of the session. The drop in oil prices Tuesday was also taking place as US consumer price inflation data showed prices eased in January, but it was by less than anticipated. OPEC, meanwhile, on Tuesday, raised its 2023 oil demand forecast by 100,000 barrels per day, to 2.3 million barrels, as China reopens its economy after strict COVID-related restrictions.

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