UAE Energy Minister: (Withdrawal from OPEC and OPEC+) This decision was made after a careful review of our strategies in the energy sector, oil sector and other related areas.

Energy 1. US media: Iran has begun using abandoned oil tanks to store oil. 2. Indian government official: No plans to import diesel and gasoline. 3. Iranian official: Iran's oil industry chain has sufficient resilience. 4. Trump cancels more wind power leasing projects to stimulate oil and gas investment. 5. Indonesia plans to remove import tariffs on some plastic products and LPG in May. 6. ADNOC plans to invest tens of billions of dollars to develop the entire US natural gas industry chain. 7. Kpler: Iran's unused oil storage space can store up to 22 days' worth of supplies. 8. CEO of the National Iranian Gas Company: Iran has announced measures to limit natural gas consumption in preparation for repairing damage caused by Israeli airstrikes to facilities at its South Pars gas field. 9. Kazakhstan's Ministry of Energy: Will reroute oil exports from the Friendship Pipeline in May, with 100,000 tons going to Ust-Luga and 160,000 tons to the Caspian Pipeline Union (CPC). 10. Reuters calculations show that Russia's oil and gas tax revenue is expected to reach approximately 650 billion rubles in May, up from 512.7 billion rubles in the same period last year. However, oil and gas tax revenue for the period from January to May is still expected to decline year-on-year. Precious Metals and Mining 1. Iranian state media reported that Iran has suspended exports of steel billets and plates until May 30. 2. Norilsk Nickel: First-quarter nickel production was 42,000 tons. First-quarter platinum production was 608,000 ounces. 3. Reuters survey: Gold prices are expected to average $4,916/ounce in 2026 and $5,100/ounce in 2027. Silver prices are expected to average $78/ounce in 2026 and $73.15/ounce in 2027. 4. Reuters survey: Platinum prices are expected to average $2,067/ounce in 2026, up from a previous forecast of $2,400/ounce. The average price of palladium is projected to be $1,583/oz in 2026, up from $1,819/oz in a previous survey. The average prices of platinum and palladium are projected to be $2,200/oz and $1,525/oz respectively in 2027. Other News: 1. UN Secretary-General urges opening of the Strait of Hormuz. 2. Ship grounding temporarily disrupts passage through the Bosphorus Strait in Turkey. 3. Indian government official: Urea import prices are almost double pre-war levels. 4. Maersk: Security situation in the Strait of Hormuz region remains unpredictable. 5. UK maritime authorities: 38 security incidents have occurred in the Strait of Hormuz and other waters in the past two months. 6. TankerTrackers analysis shows that approximately 4 million barrels of Iranian oil loaded on tankers crossed US blockade lines on April 24. In recent days, six oil tankers carrying approximately 10.5 million barrels of Iranian oil have been intercepted by the US military and forced to turn back through the Strait of Hormuz to return to Iran.

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