Energy:
1. The fourth Qatari LNG carrier since the Iran-Iraq War unloaded its cargo in Kuwait.
2. Iranian officials: If attacked again, Iran may choose to increase uranium enrichment to 90%.
3. CEO of Abu Dhabi National Oil Company: The closure of the Strait of Hormuz has led to a global oil shortage of 1 billion barrels.
4. Russia lowered its oil production and export forecasts for the next few years; the 2026 Russian oil production forecast was lowered by 14.2 million tons to 511 million tons, and the export forecast was lowered by 4.5 million tons to 237.2 million tons.
5. Lobbying groups called for flexibility in the EU's oil storage targets.
6. EIA: Brent crude oil prices are expected to average around $106 per barrel in May and June. 7. The EIA's Short-Term Energy Outlook report projects global oil demand at 104.2 million barrels per day in 2026, up from the previous forecast of 104.6 million barrels per day; and at 105.6 million barrels per day in 2027, up from the previous forecast of 106.2 million barrels per day.
8. Japanese refinery utilization rates have climbed to over 70% due to substitution supply and inventory releases.
9. Customs data shows that Vietnam has significantly increased its refined petroleum product imports since the outbreak of the Iran-Iraq War. From March to April this year, Hanoi's refined petroleum product imports increased by nearly 17% year-on-year, and by 144% in dollar terms.
10. A report from the Institute for Energy Economics and Financial Analysis states that by 2028, European countries are expected to import 80% of their liquefied natural gas from the United States, which will bring the risk of over-reliance on a single fuel supplier.
11. US API crude oil inventories for the week ending May 8th decreased by 2.188 million barrels, compared to an expected decrease of 1.654 million barrels and a previous decrease of 8.141 million barrels.
Precious Metals and Mining:
1. Indian banks are no longer waiting for exemptions and have proactively paid tariffs to resume gold and silver imports; 9 tons of gold and 34 tons of silver were cleared in May.
2. India and Russia are in advanced negotiations on a key mineral cooperation agreement covering exploration, processing, and technological cooperation.
3. Chilean Copper Commission: Production at Chilean mining giant Escondida's copper mine fell 15.75% year-on-year in March to 101,600 tons.
4. The Indian government announced on Wednesday that it would raise the effective import tax rate on gold and silver from 6% to 15%.
Iran Situation:
1. Iranian Vice President denies oil spill at Kharg Island oil facility.
2. Kuwait accuses Iran of "armed infiltration" of Bubiyan Island; Iran says patrol boats experienced "navigation malfunctions."
3. Iran: A prerequisite for negotiations with the US is an end to the war and the lifting of the blockade of the Strait of Hormuz.
4. EIA Short-Term Energy Outlook: It is projected that 10.5 million barrels per day of crude oil production will be suspended in April from Iraq, Saudi Arabia, Kuwait, the UAE, Qatar, and Bahrain.
5. Iraq, Pakistan, and Iran reached an energy transportation agreement, demonstrating Iran's control.
Other:
1. According to sources, Qatar has requested that ships docking at its main liquefied natural gas export terminal shut down their tracking systems.
2. US Department of Agriculture: The 2026/27 US soybean outlook shows that supply, crush, and exports are all higher than the previous marketing year, while ending stocks are lower.
3. Geothermal energy developer Fervo Energy stated that it has raised $1.89 billion through an expanded US IPO, highlighting strong investor demand for the listing.
