Asia / Pacific








Energy Markets

Fossil Fuels

Fossil Fuels

IMF: Global uncertainty is a major factor in the risks of Middle East outlook.

The International Monetary Fund (IMF), which last week raised its growth forecast for 2025 for the Middle East, North Africa, and the Levant, said that the risks in the region remain to the downside despite recent improvements in geopolitical conflicts. The IMF raised its forecast of GDP growth in 2025 for the MENA Region to 3.3% from 2.6%, which it projected in may. The outlook for this year was a resilient one, despite the fact we are living in a time of global uncertainty, where trade tariffs affect most of the world, and geopolitical tensions still exist, according to Jihad...

Fossil Fuels

Oil prices drop on fears of oversupply

Oil prices dropped on Tuesday due to concerns over excess supply, and the risks of demand arising from tensions between U.S.A. and China, two of the world's largest oil consumers. This was despite President Donald Trump saying he expects to reach a deal. Brent crude futures were down 14 cents or 0.2% at $60.87 per barrel at 0005 GMT. The U.S. West Texas Intermediate (WTI), which is due to expire Tuesday, fell 0.1% to $57.45. The December contract, which is more active, was down by 13 cents or 0.2% at $56.89. Donald Trump, the U.S. president, said Monday that he...

Fossil Fuels

US Business Lobby urges Trump to stop new export curbs to China

The National Foreign Trade Council, whose members include U.S. companies like Oracle, Amazon.com, and Exxon Mobil on its board of directors urges the Trump administration suspend an immediate rule that it claims has halted U.S. billions in exports. It also says this will cause China and other countries drop U.S. businesses from their supply chain. The National Foreign Trade Council, in a letter to President Donald Trump, takes issue with the Affiliates Rule which prohibits American companies from shipping technology and goods to companies that are part-owned or controlled by sanctioned companies. In a letter dated October 3, NFTC president...

Oil & Gas

US business lobby calls on Trump to remove new export restrictions to China

A lobbying group, whose board of directors includes U.S. companies like Oracle.com, Amazon.com and Exxon Mobil, is calling on the Trump administration suspend an executive order that it claims has halted U.S. exports worth billions of dollar and will lead China and other countries drop U.S.-based firms from their supply chain. The National Foreign Trade Council, in a letter to President Donald Trump, and seen by, takes aim at what is known as the Affiliates Rule. This rule prohibits American companies from supplying goods and technology, to companies that are part-owned, by sanctioned companies. In a letter dated October 3,...

Oil & Gas

The Gulf's most important markets are subdued due to weak oil

The major stock markets of the Gulf were sluggish in early trading on Monday due to weak oil prices. Investors also awaited further corporate earnings reports. The oil prices - a catalyst in the Gulf's Financial Markets - have been weighed down as a result of worries about a global glut. U.S.-China Trade tensions are also adding to the concerns over an economic slowdown, and a weaker demand for energy. Saudi Arabia's benchmark Index eased by 0.1% on track to extend losses from previous session. ACWA Power Company lost 2.2%. ACWA Power obtained project financing of 10.8 billion Riyals ($2.88...

Fossil Fuels

Indian shares are rising as earnings continue to be positive; Reliance and HDFC Bank both record highs.

India's equity benchmarks rose Monday, led largely by a rally after results in the index heavyweights, private lender HDFC Bank, and oil-to -telecom conglomerate Reliance Industries. Profit booking at ICICI Bank capped gains. As of 10:09 a.m. IST, the Nifty 50 index rose by 0.45% to 25,828.75. The BSE Sensex gained 0.51% to 84376.21. Early trade saw both benchmarks rise by 0.8%, bringing them within 2% from the highs of September 2024. Fourteen out of 16 major sectors posted gains. The small-caps were flat, while the midcaps gained 0.6%. HDFC Bank, the largest private lender in India, rose by as...

Oil & Gas

India's benchmark stock indexes will open higher thanks to strong earnings by lenders and global cues

Investor sentiment is expected to be boosted by better-than-expected earnings of top lenders, as well as positive global signals on the easing of China-U.S. Trade tensions. Gift Nifty futures traded at 25,980.5 as of 7:56 am IST. This indicates that the benchmark Nifty will open above its one-year close of 25,709.85. HDFC Bank, India's largest private sector lender, and ICICI Bank, India's second-largest private sector lender by assets, reported on Saturday that they had achieved higher profits than expected for the third quarter. Reliance Industries, on the other hand, missed its quarterly profit forecasts due to weakness in its oil-to-chemicals...

Fossil Fuels

Trump says he will keep imposing'massive tariffs' on India until Russian imports of oil cease

U.S. president Donald Trump said on Sunday that Indian prime minister Narendra Modi had told him India would stop buying Russian crude oil. He also warned that New Delhi will continue to pay "massive tariffs" if it does not. Trump told reporters on Air Force One: "I spoke to Prime Minister Modi from India and he said that he would not be doing anything about the Russian oil." When asked about India's claim that it wasn't aware of any conversations between Modi and Trump's response was: "But, if they say that, they'll continue to pay massive duties, and they don’t...

Oil & Gas

Egypt says that resolving the Palestine issue is crucial for progress on India-Europe transit route

Egypt's Foreign Minister said that the Palestinian issue was crucial to progressing in the U.S.-funded transport project connecting India to Europe by sea and rail via the Middle East. The India-Middle East Economic Corridor was announced in September 2023 on the sidelines of a meeting of leaders of the Group of 20 leading economies. It was seen as a U.S. rival to China's Belt and Road initiative on global infrastructure. A month after the announcement of the decision, war broke out in response to the attack by the Palestinian Islamist Hamas on Israel on October 7, 2023. "We must remember...

Oil & Gas

Reliance's IT counter-pressure helps India's Nifty reach a one-year high

India's equity benchmarks reversed their early losses on Friday. The Nifty 50 reached a new high of one year, with gains from Reliance Industries before its results, outweighing losses by Infosys, and Wipro. Both companies fell due to margin concerns, despite strong earnings. As of 10:36 am IST, the Nifty 50 index rose by 0.42%, to 25,693.3. This is its highest level since October 1, 2024. The BSE Sensex also increased by 0.50%, to 83887.58. Both indexes dropped about 0.2% when they opened. The benchmarks reached a three-month high on Thursday and are now less than 3% off their record...

Electric Utilities

Bankers claim that the bond sales by three Indian state-owned firms prompted by the yield decline accounted for $880 million of the total amount.

Three merchant bankers familiar with the matter on Friday said that a decline in corporate bond rates in secondary market following a dovish policy encouraged three state-run companies to raise approximately 77.50 trillion rupees ($880.5 millions) through bonds sales. Hindustan Petroleum, a state-run company, plans to raise 50 billion rupees. Bharat Petroleum plans to raise 20 billion rupees. The bankers said that both oil marketing companies will be looking to issue bonds with a maturity of five years or less in the next few days. North Eastern Electric Power Corp. (NEEPCO), a subsidiary wholly owned by NTPC, would like to...

Fossil Fuels

QUOTES - Putin speaks about oil, gas and coal at the Russian Energy Week

The Russian Energy Week 2025 keynote speech was delivered by President Vladimir Putin in Moscow. Here are the main points of his speech. His words were translated into English by. On the Future of Oil Market: According to estimates, the global oil demand for this year is expected to be 104,5 million barrels per a day, which is more than one million more than it was last year. The growth of the petrochemical sector is driving the consumption increase, and the transportation sector has seen many plans to phase-out internal combustion engines being delayed. "People will continue to use gasoline-powered...

Crude Oil

Crude Oil

Morning bid Europe-Inflation will wipe out UK's rate-cutting bets

Rae Wee gives us a look at what the European and global markets will be like tomorrow. The Bank of England's (BoE), which is expected to cut rates again this year, will likely be disappointed if the consumer prices in Britain are higher than expected. The BoE expects the inflation rate in September to be 4%, which is the highest of all the big economies around the world and twice the BoE target. The markets currently price in a chance of nearly 15% that the central banks will ease rates by 25 basis point at their November meeting. A positive...

Crude Oil

The Russian rouble falls against the US dollar due to uncertainty surrounding Trump-Putin Summit

The Russian rouble fell against the U.S. Dollar and China's Yuan on Tuesday, after an American media report said that preparations for the summit between U.S. president Donald Trump and Russian president Vladimir Putin at Budapest had stalled. At 1400 GMT the rouble had fallen 0.7% against the U.S. Dollar in over-the counter trade and 1.2% against yuan, which was trading at 11.41 at the Moscow Stock Exchange. The Chinese unit is by far the most traded currency. Freedom Finance analysts stated in a recent research note that "the main pressure on Russia’s market comes from geopolitics, and the expectation...

Crude Oil

MPOC: Crude palm oil price to remain above $1 042 per tonne in 2026

The Malaysian Palm Oil Council announced on Tuesday that the price of crude palm oil will remain above 4,400 Ringgit ($1,042) a metric ton through 2026. This is due to biodiesel and an uncertain outlook for stocks. Concerns about the effect on Indonesian stocks due to a tightening of supply of soybean oil in Argentina B50 biodiesel mandate In a press release, the Council stated that it would support palm prices. It said that sentiment was still cautious because of the low crude oil prices, large vegetable oil inventories in major markets like China and India and due to the...

Mining

Mineral Resources

Mineral Resources

Shanghai copper falls on weak China demand and strong dollar

Shanghai copper fell on Wednesday as traders lost confidence due to a weak Chinese demand, high prices, and a strong US dollar. The Shanghai Futures Exchange's most active copper contract closed the daytime trade down by 0.13% to 85,420 yuan (11,992.14) a metric tonne. The two sessions of gains were halted by this session, which was supported by strong industrial output in China and new attempts to ease Sino U.S. Trade tensions. The benchmark contract for three-months copper on the London Metal Exchange rose 0.41%, to $10.667 per ton at 0700 GMT. The red metal's demand is muted by the...

Mineral Resources

Malaysia is seeking foreign partners to develop the rare earth sector. State media reports

Malaysia welcomes foreign companies to form joint ventures to develop rare Earths in the nation, according to state media on Wednesday. The report was based on the Trade Minister. According to estimates by the government, Malaysia has 16.1 million tons of rare earths, but does not have the technology to mine or process them. Malaysia wants to build midstream processing capability in a market dominated by China. China tightened export restrictions earlier this month. Exclusively, earlier this month, it was reported that the government is in talks with China about rare earths processing. The Malaysian sovereign fund Khazanah Nasional will...

Mineral Resources

Copper prices fall on stronger dollar and muted Chinese demand

The copper price fell on Tuesday due to a stronger dollar, and signs that demand for metals from China, the world's largest consumer, was muted. However, a decrease in stocks at the London Metal Exchange helped limit the losses. The benchmark LME three-month futures fell 0.4%, to $10.651.50 per metric ton at 1001 GMT. Traders are waiting for more updates on the U.S. and China trade talks ahead of a high-stakes summit between the leaders of the two world's largest economies scheduled to take place in South Korea next week. The market for copper used in construction and power was...

Mineral Resources

Sources say that Anugrah Neo Energy Materials, Indonesia, plans to IPO for over $300 million.

Two people who have direct knowledge of this matter say that Anugrah Neo Energy Materials, a nickel mining and processing firm in Indonesia, plans to make an initial public offer on the Indonesia Stock Exchange. The company hopes to raise $300 million. Sources declined to identify themselves as this information is not public. According to sources, Anugrah Neo Energy Materials could be valued at more than 2 billion dollars. Proceeds will also be used for expansion. They added that DBS and RHB are among the banks involved in the IPO. Anugrah Neo Energy Materials didn't immediately respond to an inquiry...

Mineral Resources

Saudi Arabia's earnings are weak and most Gulf markets follow Asian stock prices higher

On Tuesday morning, most Gulf stock markets were up, following the Asian benchmarks. This was due to a possible easing in U.S. China trade tensions. Saudi Arabia's index, however, fell because of disappointing corporate earnings. Dubai's main stock index rose by 0.3% with the top lender Emirates NBD advancing 1.9%. RBL announced on Saturday that ENBD would buy 60% of the Indian private lender RBL Bank, the largest acquisition of its kind in India's finance sector. The index in Abu Dhabi rose 0.3%. This was due to a 0.3% increase by investment company Multiply Group after the board of its...

Mineral Resources

Gold's record run is paused as dollar firms and investors book profits

The dollar rose on Tuesday and investors took profits. Gold had reached a new high the previous day on the hope of more interest rate reductions from the U.S. Federal Reserve, and on strong demand for safe-haven assets. As of 0634 GMT spot gold was down by 0.7%, at $4,323.69 an ounce. It had reached a record high of $4.381.21 per ounce on Monday. U.S. Gold Futures for December Delivery fell by 0.4%, to $4340.10 an ounce. Gold is now more expensive to other currency holders due to the 0.2% rise in the dollar index. Tim Waterer, KCM Trade's Chief...

Mineral Resources

Andy Home shares five key takeaways for London Metal Exchange Week.

Metals are a hot topic these days. Silver is catching up to gold in terms of record-breaking prices. Rare earths are at the center of the U.S.-China trade dispute, and the industrial metal supply chain is bending under the new global order of tariffs. The London Metal Exchange Week (LME Week) seminars and parties this year were full of interesting topics. The annual metals conference in London last week was a great success. Here are five key takeaways. GREEN PREMIUMS Hong Kong Exchanges and Clearings (HKEx), the owner of LME, surprised LME Week by announcing a new Dubai-based subsidiary. Commodity...

Mineral Resources

Gold's record-breaking run is halted as investors book profits

The gold price fell on Tuesday as investors took profits following the bullion's recent high, which was fueled by the expectation of more interest rate reductions from the U.S. Federal Reserve. As of 0456 GMT spot gold was down by 0.3%, at $4340.99 an ounce. It had reached a record high of $4381.21 per ounce on Monday. U.S. Gold Futures for December Delivery were unchanged at $4,357.80 an ounce. Tim Waterer, KCM Trade's Chief Market Analyst, said that profit-taking and a decline in safe-haven flows have combined to take the edge of the gold price. Any pullbacks will be seen...

Mineral Resources

Focus on China's important meeting brings iron ore to a steady state

Iron ore prices were largely in a narrow range on Tuesday as investors focused their attention on a meeting between China's top leaders that will determine the economic policies of the second largest economy of the world for the next five-year period. On Monday, the Communist Party of China began a four day closed door meeting that will culminate in the outline. However, the full plan with its development goals won't be published until March 2026. The meeting was held after data revealed that China's property crisis-hit sector continued to be a drag on the steel consumption. This also affected...

Mineral Resources

US and Australia invest $2 billion to advance Alcoa Gallium Project

As part of an extensive critical minerals agreement, signed on Monday to counter China's control over the industry, the United States and Australia extended financial assistance to several Australian firms. The agreement between U.S. president Donald Trump and Australian prime minister Anthony Albanese commits the two countries to investing at least $1 billion in each of the next six month's mining and processing projects, and to setting a floor price for essential minerals. This is a move that Western miners have long fought for. The governments will also support a plan announced by U.S. Aluminum producer Alcoa, to build a...

Mineral Resources

Investors are watching US-China trade talks as gold prices rise on bets of rate cuts and broader uncertainty.

Gold prices increased by more than 1% on the first day of this week, boosted by expectations for further U.S. rate cuts, and by sustained demand from investors who were awaiting upcoming U.S. China trade talks, and U.S. inflation data due out later in the week. As of 1330 GMT, spot gold rose 1.6% to $4,318.50 an ounce. U.S. Gold futures for delivery in December rose 2.8%, to $4333.10 an ounce. Gold prices reached a record-high of $4,378.69 per ounce on Friday but ended 1.8% lower, their biggest drop since mid-May, after Donald Trump's comments eased concerns about U.S. China...

Mineral Resources

Andy Home shares five key takeaways for London Metal Exchange Week.

Metals are a hot topic these days. Silver is catching up to gold in terms of record-breaking prices. Rare earths are at the center of the U.S.-China trade dispute, and the industrial metal supply chain is bending under the new global order of tariffs. The London Metal Exchange Week (LME Week) seminars and parties this year were full of interesting topics. The annual metals conference in London last week was a great success. Here are five key takeaways. GREEN PREMIUMS Hong Kong Exchanges and Clearings (HKEx), the owner of LME, surprised LME Week by announcing a new Dubai-based subsidiary. Commodity...