Asia / Pacific








Energy Markets

Crude Oil

Crude Oil

Gold firms make weekly gains on US-Iran deals

Gold rose on Friday and is expected to gain a weekly gain, as optimism about a possible end to the Iran Conflict eased concerns over inflation and high interest rates. Spot gold rose 0.5% to $4,709.89 an ounce at 1551 GMT. It has gained 2.1% in the last week. U.S. Gold Futures increased 0.2% to $4.719.60. Due to its non-yielding properties, gold, which is typically seen as a safe haven in times of global turmoil, will be under pressure? when interest rates rise. "Gold is now trading more like a risky asset than a safe-haven. Gold's rebound is linked to...

Crude Oil

Investors digest US job growth and chipmaker earnings, as well as elevated oil prices.

On Friday, global equities were mixed as new U.S. job data showed growth in the U.S. market. However, consumer sentiment was down and oil prices continued to rise due to ongoing fighting near Strait of Hormuz. European stocks fell, but the S&P 500 gained 0.8% and the Nasdaq Composite jumped 1.4%. The Dow Jones Industrial Average remained largely unchanged. Chipmakers, such as Qualcomm, recovered. Qualcomm was up around 10% while Nvidia rose 2.3%. The price of oil rose again on the Friday following renewed fighting in the Strait of Hormuz, which raised doubts about the ceasefire agreement between Iran and...

Crude Oil

Wall Street cheers US job growth and chipmaker earnings by ignoring the high price of oil

Investors sent U.S. stock prices higher on Friday as new data showed strong job growth in the U.S., even though oil prices continued to rise due to ongoing fighting near Strait of Hormuz. The Dow Jones Industrial Average grew by 0.21%. The S&P 500 added 0.5% and the Nasdaq Composite rose 0.8%. Microchip Technology, which had forecasted first-quarter revenues above expectations, rose 1.4%. Qualcomm jumped about 4% while Nvidia grew 2%. The oil prices retreated from their early gains, after a new round of fighting in the Strait of Hormuz raised concerns about the ceasefire agreement between Iran and the...

Jet Fuel

Russell: Exports of refined fuels from Asia to the US plummet after the closure of Hormuz

The impact of the 'crisis' on the physical fuel markets has worsened. While crude oil futures prices have fluctuated in line with headlines regarding the conflict between the United States, and Iran. Brent contracts fell 7.8% to close at $101.27 per barrel on Wednesday, despite the fact that a sustained and full reopening of the 'Strait of Hormuz is still a long time away. The United States and Israel's February 28th attack on Iran has led to a reduction in the volume of refined products shipped throughout Asia. The Strait of Hormuz is the main energy-consuming region in the world...

Crude Oil

Brent reaches $100 after renewed Gulf conflict, while AI propels Asia stocks to a weekly rise

As the U.S. exchanged "fire" with Iran in the Middle East the oil prices rose, while stocks fell. However, many equity markets in Asia were on track for stellar gains this week due to booming AI demand. Benchmark Brent crude futures rose about 1% to $101 per barrel, while European shares fell 0.9%. As the results came in, traders were also keeping an eye on Labour Party's losses, which could put pressure on Prime Minister Keir starmer. Sterling was up a little, while British bonds and shares traded in line with their European counterparts. Middle East Clashes The United States...

Crude Oil

MORNING BID EUROPE - Markets hold on to ceasefire as it is tested

Tom Westbrook gives us a look at what the future holds for European and global markets. On Friday, oil prices rose and European futures wiggled as the U.S. and Iran exchanged fire in the Middle East. Investors chose to concentrate on the hope of a lasting peace agreement. In Asia, AI stocks dominated weekly gains. Sterling remained steady at $1.36 as traders watched the early results of Britain's local elections. Keir Starmer and his Labour Party suffered heavy losses. The UAE was again attacked by the U.S. forces and Iranian forces in the?Gulf. U.S. president Donald Trump told reporters that...

Crude Oil

Oil prices fall on optimism for peace, but global stocks are mixed

Oil prices fell on the back of optimism about a U.S. Iran peace deal. The fate of the Strait of Hormuz, a critical waterway, remained unresolved. MSCI's All-Country World Index increased?0.17%, trading around record highs. Europe's STOXX 600 was down 0.25% after a 2.2% jump on Wednesday. Last up by 1.7%. After a long holiday weekend, trading on the Nikkei 225 index resumed. Samy Chaar, chief economist at Lombard Odier, said that while the Middle East situation is uncertain, "the market momentum is moving in a positive direction", and they have taken notice. He said, "The oil price has dropped...

Crude Oil

Oil falls amid peace optimism as oil trades at record highs

Oil prices sank as stocks rose Thursday amid optimism about a U.S. Iran peace deal. However, the fate of the Strait of Hormuz remained unclear. MSCI's "All-Country World Index" rose by 0.23%, approaching a record high. Europe's STOXX was little changed after a?2.2% jump on Wednesday. MSCI's broadest Asia-Pacific index outside Japan also rose to an all-time record high. After a long holiday weekend, trading on the Nikkei 225 index resumed. Samy Chaar, chief economist at Lombard Odier, said that while the Middle East situation is uncertain, "the market momentum is moving in a positive direction", and they have taken...

Crude Oil

Gold gains on third day of optimism about US-Iran peace agreement

Gold?prices rose on Thursday for a 'third consecutive day, supported by a softer dollar. Hopes of a U.S. Iran deal helped ease concerns about inflation and high interest rates. As of 0728 GMT spot gold was up 1% to $4,738.86 an ounce after rising about 3 percent on Wednesday, when it reached its highest level since April 27. U.S. Gold Futures for June Delivery rose by 1.2% to $4748.50. Donald Trump, the U.S. president, predicted that the war with Iran would end quickly as Tehran considered the U.S. peace offer that sources say will formally end conflict while leaving unresolved...

Crude Oil

Russell: Exports of refined fuels from Asia to the US plummet after the closure of Hormuz

The impact of the 'crisis' on the physical fuel markets has worsened. Prices for crude oil futures fluctuated in line with headlines about the conflict between the United States, and Iran. Brent contracts fell 7.8% to close at $101.27 per barrel on Wednesday, despite the fact that a sustained and full reopening of the 'Strait of Hormuz is still a long time away. The United States and Israel's February 28th attack on Iran has led to a reduction in the volume of refined products shipped throughout Asia. The Strait of Hormuz is the main energy-consuming region in the world and...

Crude Oil

Markets focus on US-Iran Peace Deal as Gold prices remain steady

Gold prices remained largely stable?near an all-time high on Thursday as?investors were waiting for more details about a possible U.S. Iran peace deal. As of 0436 GMT spot gold was up by 0.1%, at $4,692.45 an ounce. It had risen about 3% Wednesday, to its highest level since April 27. U.S. Gold Futures for June Delivery rose by 0.2% to $4701. Donald Trump, the U.S. President, predicted that the war between Iran and the U.S. would end quickly as Tehran considered an?U.S. Sources said that the peace proposal would end the war, but leave unresolved the key U.S. demand?that Iran...

Crude Oil

No stopping AI frenzy across Asia

Ankur Banerjee gives us a look at what the future holds for European and global markets Japan's Nikkei returned after a holiday to join the AI rally and reach record highs. South Korea, Taiwan and other equities also reached new heights. Oil prices hovered around $100 per barrel, as the markets waited for an agreement to end the Middle East conflict. The Nikkei Index 225 (the benchmark) soared by nearly 6%. This lifted broader Asian gauges up to new highs, after strong earnings from tech companies fueled the AI momentum. The Nikkei has now risen 25% this year, but is...

Refined Products

Refined Products

US hybrid car sales are on the rise, as is gas prices

According to new industry data and dealers, many American car buyers are turning to hybrid vehicles in order to offset the recent spike in gas prices due to the Iran War. Motor Intelligence, a research firm, says that hybrid sales in the U.S. have risen 37% over the past two months. This was a faster growth than the general car market's 15% increase in sales during that time period. According to the American Automobile Association, fully electric cars did not attract the same level consumer interest even though U.S. gas prices reached $4 in late April and hit a four-year...

Refined Products

Southeast Asian leaders look for ways to mitigate the impact of Iran war

The leaders of Southeast Asian nations?holding a meeting on Friday will likely thrash out an coordinated response to the impact of the 'Middle East Crisis, in order to?ease the pressure of an energy shock which has shook?their oil-dependent economies. Leaders of ASEAN are expected to meet on Cebu Island in the Philippines to push for an harmonised approach to ensure food and energy security in a particularly vulnerable region to the nearly 70-day long blockade of Strait of Hormuz. Ferdinand Marcos Jr, Philippine president, said in his opening remarks, as ASEAN chair, that ASEAN stood together to show its ability...

Fossil Fuels

Oil prices jump on renewed US-Iran hostilities

The price of oil rose by more than 1% after renewed fighting between the U.S.A. and Iran. This triggered a fragile ceasefire, and dashed hopes that the Strait of Hormuz would be reopened, an important transit route for oil and gas. Brent crude futures rose $1.41 or 1.41% to $101.47 per barrel at 0123 GMT. West Texas Intermediate (WTI), U.S. crude oil futures, rose $1.12 or 1.18% to $95.93 per barrel. Prices had already risen more than 3% at the opening of the market. This ended three days of declines following reports that earlier in the week,?the U.S. was close...

Mining

Mineral Resources

Mineral Resources

Toyota to suffer $4.3 billion in losses from Iran War

Toyota, the world's largest automobile manufacturer, warned on Friday that the fallout of the Iran War would cost the company $4.3 billion in this fiscal year. This is one of the most serious warnings to date about the impact of the crisis. Toyota has reported a nearly 50% decline in quarterly earnings, and expects to see a full-year loss of 5% in the just-started year. This is due to rising costs from the war and supply problems. These factors outweighed the surge in demand for hybrid cars. This year, the automaker anticipates hybrid sales to surpass 5 million for the...

Mineral Resources

Australian shares fall as Middle East tensions reignite curb risk appetite

Australian shares fell on Friday, wiping?gains made in the previous two?sessions. The market was flooded with broad-based sales after the latest exchange of fire between Iran and the United States rattled the sentiment. The S&P/ASX 200 ended the week 1.5% lower, at 8,744.40. The benchmark index rose 0.2% in the past week despite the drop, but it still remained below the record highs set early in March. Investors concluded a week that saw the Reserve Bank of Australia raise its interest rates a third time in this year. The U.S. escalated hostilities with Iran, and the mood deteriorated over night....

Mineral Resources

Argentina Mining Chamber urges an extension of investment incentives

The head of Argentina's mining chamber said Thursday that the flagship investment incentive program for large projects, which currently has a 2027 deadline, should be extended. He argued the program was key to unlocking billions in planned investments. Roberto Cacciola said that the Incentive Regime for Large Investments, or RIGI, has helped to attract capital into the mining sector. The RIGI offers tax, currency, and legal stability advantages for projects valued at more than $200,000,000. Cacciola suggested that the scheme be expanded to include smaller projects which are important in creating jobs and supporting local supply chains. Cacciola told the...

Mineral Resources

Source: Palliser, an activist investor, has a minor stake in UK Autotrader.

Palliser Capital, an activist?investor, has acquired a 2% share in Britain's Autotrader Group. A?source with knowledge of the matter said on Thursday. This comes at a time where artificial intelligence is putting pressure on the automotive market. Autotrader shares rose 4.2% to 521.2 pence each at 0921 GMT. This outperformed the benchmark FTSE-100, which fell 0.7%. Source: The fund manager's stake will likely be between 1% to 2%. According to a calculation based on Autotrader's closing stock price, the stake could be worth as much as 81.2 million pounds (110.6 million dollars). Palliser had previously called for change at several...

Mineral Resources

Russia will auction its seized stakes in gold producer UGC on May 8.

The Russian property agency Rosimushchestvo announced 'on Thursday that it will 'launch an auction for the sale of a 67.2% stake in gold producer Uzhuralzoloto, which the state confiscated last. The agency stated that the stake was worth 140.44 billion Russian roubles, or $1.88 billion. The agency will accept applications up until May 15 with results due by May 18. It was announced that the total value of assets and the starting bid price would be 162.02 billion rubles, with a 2% bidding increment and a 20% deposit required by auction participants. A Russian court ruled in July 2025 that...

Mineral Resources

Australian shares continue to rise as risk appetite increases due to easing Middle East tensions

Australian'shares' logged their second consecutive session of gains,?boosted by mining and financial stocks as hopes for a?peace agreement off the Middle East helped stabilize markets worldwide and lift risk appetite. The benchmark S&P/ASX 200 rose 1% to 8,878.10, continuing gains for the second consecutive session after gaining 1.3% on Wednesday. The global markets were encouraged by the prospects of a Middle East Peace Deal after Trump stated that he expects the war in Iran to be over soon. This positive sentiment spread into Australian markets. Cameron Curko (chief investment officer, Pitcher Partners) said that gold and copper-related miners are rising...

Mineral Resources

Demand for iron ore continues to grow, resulting in a fourth consecutive day of rising prices.

Iron ore futures extended gains for the fourth day in a row?on Thursday. Demand was steady as hot metal production remained high, and the Singapore 'iron ore' contract declined on lower energy costs. The contract for September iron ore on China's Dalian Commodity Exchange was 0.62% higher, at 817 Yuan ($120.10) per metric ton. As of 0704 GMT the benchmark June iron ore traded on the Singapore Exchange fell 0.12% to $109.9 per ton, marking its seventh consecutive day of gains. According to data compiled and a report from the Shanghai 'Metals Market, hot metal production is expected to peak...

Mineral Resources

In 10 years, Argentina's lithium and copper exports will reach $32.7 billion

Luis Lucero, Argentina's mining Minister, said that the country expects to export $20.6 billion of copper and $12.1 billion of lithium in 10 years. This is up from $6.0 in mining exports in last year. The expected surge in lithium exports and copper is an early indicator that President Javier Milei’s RIGI incentive scheme is unlocking capital for large-scale mining. If achieved, these export levels would be five times higher than the mining exports of 2025. This would provide a new major source of hard currency to an economy that has been historically restricted by foreign exchange shortages. In 10...

Mineral Resources

Copper prices rise on optimism about a possible US-Iran Peace Deal

On 'Wednesday', copper prices reached their highest level in almost two weeks on hopes that Iran and the U.S. are nearing a deal to end the Middle East?war. The benchmark three-month 'copper' on the London Metal Exchange increased 2.1% to $13,410 per metric ton during official open-outcry trade for a third consecutive session. It had earlier reached its highest level since April 23, at $13,462. Sources said that the United States and Iran were close to an agreement over a memorandum of understanding (MOU) of one page in order to end the Gulf War. Robert Montefusco, broker at?Sucden financial, said...

Oil & Gas

Guinea pays EGA to resume bauxite trading, according to statements

Guinea and Emirates Global Aluminium have reached an agreement to settle a long-running disagreement over the seizure its local operations, allowing the resumption bauxite shipment. The two companies released separate statements on the matter. The deal is subject to certain conditions. Guinea will pay an upfront sum to Abu?Dhabi based miner, in exchange for the transfer of Guinea Alumina Corporation assets to state-owned Nimba Mining Company. Financial details were not revealed. Guinea, the top producer of aluminium feedstock in the world, took over GAC's Bauxite Operations last year after a disagreement about plans to build an Alumina Refinery. The assets...

Mineral Resources

Trade talks between G7 countries focus on critical minerals, as US-EU tariff dispute strains unity

The Group of Seven Trade Ministers met in Paris on Wednesday to find common ground for securing vital?mineral? supplies that are dominated primarily by China. However, the United States' recent tariff threats against European Union made cars could strain unity. As ministers prepare to hold a summit of leaders in mid-June, Nicolas Forissier, the French Foreign Trade Minister said that France wanted critical minerals supplies among its most tangible deliverables. He said: "I think we'll make concrete progress in rare earths, critical minerals and supply chain security. We won't be held hostage to certain countries." There was a broad consensus...

Mineral Resources

BHP denied permission to appeal UK judgement over 2015 Brazil dam failure

The London Court of Appeal has ruled that BHP can't appeal against the UK ruling that found it liable for the 2015 collapse of a dam in southeastern Brazil. In November, London's High Court ruled BHP was legally responsible for the collapse of the Fundao dam in Mariana, southeastern Brazil, ?which was owned and operated by Samarco, a joint venture ?between Australia-headquartered BHP and Brazilian company Vale. Brazil's worst ecological disaster unleashed a toxic sludge wave that left 19 dead, thousands homeless, inundated?forests, and polluted?the length of the Doce River. The High Court refused BHP permission to appeal the ruling...