Real-time News

Bank of England Chief Economist Peel: There is uncertainty surrounding the outcome of energy prices.

Bank of England Chief Economist Peel: The process of inflation falling had stalled before the war.

The Iraqi parliament has approved Fuad Hussein as foreign minister.

A statement from the Iraqi parliament indicates that it has approved the appointment of Bassim Mohammed as oil minister.

May 14 - The number of supertankers transporting unsanctioned oil through the Strait of Hormuz has recently shown signs of increasing, offering limited relief to the global oil market, which is experiencing its largest supply disruption in history. According to ship tracking data compiled by Bloomberg, since May 10, four tankers, each carrying approximately 2 million barrels of crude oil, primarily from Iraq, have departed the Strait of Hormuz, representing a transport rate of nearly 2 million barrels per day.

Mexican President Sinbaum: Mexico will show S&P that their view of Mexico's prospects is wrong.

U.S. Senator Warren has asked the U.S. Securities and Exchange Commission (SEC) to investigate the cryptocurrency company owned by President Trump's family.

Mexican President Sinbaum: The trade agreement with the EU will not affect the USMCA.

On May 14th, data released by the U.S. government on Thursday showed that U.S. business inventories recorded their largest increase in nearly four years in March, driven by a rise in wholesale inventories. The data showed that business inventories rose 0.9% month-over-month in March, the largest increase since June 2022, exceeding market expectations of 0.8% and following a 0.4% increase in February. Year-over-year, business inventories rose 2.0% in March. The U.S. government estimated last month that business inventories contributed 0.40 percentage points to the annualized GDP growth rate in the first quarter. The U.S. economy grew at an annualized rate of 2.0% in the first quarter, compared to 0.5% in the October-December quarter of last year. Component data showed that retail inventories rose 0.6% in March, after remaining flat in February; wholesale inventories surged 1.3%; and manufacturer inventories rose 0.6%.

Futures News, May 14th: ICE raw sugar futures fell on Thursday due to ample supplies from major producer Brazil, while cocoa futures continued their pullback from a three-and-a-half-month high this week. 1. Sugar Market Update: Raw sugar fell 2.5% to 15 cents per pound, reversing a four-day winning streak. White sugar prices fell 2.8% to $442.80 per metric tonne. 2. Brazilian Supply: According to S&P Global Commodity Insights, sugar production in Brazil's key south-central region is expected to increase by 72.7% year-on-year. This increase is driven by a surge in sugarcane crushing, and rising oil prices have enhanced the competitiveness of ethanol over gasoline, leading factories to prioritize ethanol production over sugar production at the start of the 2026/27 season as biofuels become more profitable. 3. Indian Exports: To limit sugar losses, India immediately banned sugar exports on Wednesday until September 30, 2026, or for further orders. As the world's second-largest sugar producer, India is attempting to control domestic prices. 4. Cocoa Update: London cocoa fell 0.6% to 3,256 pounds per tonne, after closing 4.6% on Wednesday. New York cocoa fell 0.7% to $4,446 per tonne. Prices reached a three-and-a-half-month high of 3,549 pounds on Tuesday before retreating as sales in cocoa-producing countries rebounded, with investors continuing to bet on increased demand for chocolate ingredients to limit losses. In addition, a German court ruled that Mondelez (MDLZ.O) misled buyers by reducing the size of its Milka chocolate from 100 grams to 90 grams without significantly altering the packaging.

According to the Wall Street Journal, the Indian Ministry of External Affairs stated that the ongoing attacks on merchant ships are "unacceptable."

On May 14th, Federal Reserve Chairman Schmid stated that inflation remains the biggest risk to the U.S. economy, although the economy has shown "remarkable resilience" in the face of numerous challenges, and the labor market remains generally stable. In prepared remarks at a banking conference hosted by the Kansas City Fed, Schmid said, "I believe that persistent inflation is the most pressing risk to the economy right now. While inflation has fallen significantly from its peak, it is clear from my conversations with business leaders in the 10th District that inflation remains excessively high." Schmid added, "Despite the many challenges facing the U.S. economy, it has also shown remarkable resilience. Geopolitical uncertainty continues. While the U.S. is less vulnerable to global energy disruptions than in the past, higher oil prices will still weaken household spending and push up business costs. However, even with these headwinds, the fundamentals of the U.S. and the 10th District economies remain robust."

A senior U.S. Navy admiral stated that Iran's military capabilities have significantly declined, rendering it incapable of launching large-scale attacks against its neighbors.

A senior U.S. Navy admiral said the Iranian navy will not be able to recover to pre-war levels for a generation.

A senior U.S. Navy admiral stated that Iran's missile, naval, and drone industrial base has been weakened by 90%.

On May 14th, Canada unveiled a C$1 trillion strategy to double the country's grid capacity by 2050, citing rapidly growing electricity demand and rising energy security needs. As part of this strategy, the Canadian government plans to amend clean electricity regulations to allow for greater use of credible carbon offsets and provide existing natural gas generators with greater operational flexibility to maintain grid stability and power supply reliability.

Federal Reserve's Schmid: The U.S. economy has shown remarkable resilience, and its fundamentals remain solid.