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Crude Oil

Crude Oil

Global MARKETS - Global shares stable, dollar falls as focus shifts to Fed policy

The dollar fell as traders bet that the Federal Reserve would cut interest rates in the next month. Equity futures indicate a steady start to the S&P 500, and tech-heavy Nasdaq, despite a sway in Asian and European stocks after Nvidia reported its results. Nvidia shares fell around 1.5% during pre-market U.S. trading, as concerns over the company's China operations clouded an otherwise better-than expected revenue forecast for next quarter. Semiconductor shares in Europe fluctuated as investors analyzed the company's outlook, which also affected tech stocks in Asia. Taiwan Semiconductor Manufacturing Company shares fell 2.5%. Nvidia's forecast was higher than...

Crude Oil

Asia markets are rocky after Nvidia's drop, but China chipmakers blow up!

The Asian stock market experienced a volatile session Thursday, as concerns over the future of artificial intelligence leader Nvidia’s China business hit regional suppliers while sparking gains for its Chinese competitors. The MSCI broadest Asia-Pacific index outside Japan fluctuated between gains and losses. It was last down by 0.4% as U.S. Equity Futures were pulled lower by a 3.1% drop in the shares of the chip manufacturer, which is now the most valuable company in the world. Charu Chanana is the chief investment strategist for Saxo, a Singapore-based brokerage firm. She added that "we should expect some spillover" even though...

Crude Oil

Oil and the dollar are advancing, while global equities are declining

Gold prices and global equities fell on Thursday as traders avoided big moves, and awaited the three-day annual Jackson Hole Symposium of the Federal Reserve. The symposium begins on Thursday, and traders will focus on Fed Chairman Jerome Powell's Friday speech as they look for clues about the possibility of a rate cut in September. The U.S. Treasury rates increased as the meeting began. Oil futures rose, supported by strong demand from the United States and uncertainty about efforts to end war in Ukraine. The U.S. Dollar also gained, gaining 0.35% compared to a basket other currencies. Stocks in Asia...

Crude Oil

Wall Street stocks drop as traders focus on Fed

Wall Street also opened lower on Thursday as traders avoided big moves in anticipation of the three-day Jackson Hole Symposium, which is being held by the Federal Reserve. Jackson Hole begins on Thursday, and traders will be watching for clues about a possible September rate cut. Stocks held near their recent highs in Asian trading and Australia's benchmark reached a new record. The European session was a struggle for the markets to gain ground. People are slouching. "You have two big unknowns in the near future, Jackson Hole tomorrow, and the Fed on September," said Tim Graf. He is head...

Crude Oil

Asia shares fall, but dollar steadys before Jackson Hole

The dollar gained ground on Wednesday ahead of an important meeting of central banks later this week. Oil prices rose after a fall in the previous session. Traders bet on the possibility that talks about a possible deal to end the conflict in Ukraine would ease sanctions against Russian crude oil and boost global supply. Stock futures in Europe, the U.S. and Europe all fell by 0.47%. The EuroStoxx 50 futures fell 0.55%. DAX futures also declined by 0.5%. FTSE Futures slid 0.14%. S&P futures fell 0.2%, while Nasdaq lost 0.34%. This is a continuation of the overnight fall. The...

Crude Oil

Jackson Hole: US and European shares are little changed in advance of Ukraine talks

Wall Street and European stocks were flat or marginally lower Monday, ahead of an eventful week in U.S. rate policy. Meanwhile, attention was focused on Washington where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 was slightly down in midday trading but remained within striking range of its Friday all-time high. The MSCI All Country World Index was 0.1% lower but still not far off its record high reached on Friday. In the Asian session earlier, indexes from Japan, Taiwan, and China reached record highs, with a Chinese stock gauge reaching its highest level for...

Crude Oil

Jackson Hole: Global stock markets fall as traders wait for Ukraine talks

The U.S. shares and European stocks started the week cautiously, ahead of an eventful week in U.S. rate policy. Attention turned to Washington, where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 remained near its Friday high in the early trading on Monday. The MSCI All Country World Index was also down 0.15% and within touching distance of Friday's record high. In the Asian session earlier, indexes in Japan, Taiwan, and China reached record highs, while an indicator of Chinese stocks hit its highest level for a decade. After Trump's Friday summit with Russian president...

Crude Oil

Ampol's H1 profits slump on lower volumes and refinery margins

Ampol, Australia's largest fuel retailer, posted a 23% drop in profit for the first half 2025. The result was better than expected, as it was affected by weather and operational disruptions. The planned maintenance shutdowns, as well as production losses due to a cyclone, disrupted the operations. Meanwhile, low Singapore refining margins impacted profitability at the Queensland refinery. The refinery's operating profit fell from A$89.5 to A$1.1 (roughly $716,210) compared to A$89.5 a year earlier. Earnings from the fuel and infrastructure division were also reduced by almost half to A$118.3 millions. The company's net income after taxes from its continuing...

Crude Oil

The Fed's rate-cutting drumbeat brings the dollar down; Asian stocks are taking a break

The U.S. Dollar was under pressure Thursday, as traders bet that the Federal Reserve would resume lowering interest rates in January. Bitcoin reached a new record high while regional stocks saw a pause from their explosive rally. MSCI's index of Asian stocks excluding Japan remained near its highest level since September 2021. It took cues from Wall Street where the S&P 500 Index and Nasdaq Index hit new closing highs on the second consecutive day. On Wednesday, the MSCI All Country World Index reached a new record for the second consecutive session. Japan's Nikkei index fell following a six-day rally...

Crude Oil

Asian shares rise, dollar defensive after mild inflation data

The U.S. Dollar was weaker on Wednesday as data revealed both the resilience of major economies and the necessity for central banks remain accommodative. Wall Street reached new heights Tuesday due to the increasing certainty that the Federal Reserve would cut interest rates in a month. Japan's Nikkei surpassed the 43,000 mark for the first and cryptocurrency ether reached a four-year high. Euro Stoxx futures for the entire region rose by 0.5%. German DAX futures also rose by 0.5%. FTSE futures climbed by 0.2%. U.S. Stock Futures, S&P 500 eminis were flat. The much-anticipated U.S. Inflation readings showed that President...

Crude Oil

Gold reaches all-time high as gold prices rise amid Fed reforms

The global equities market rose on Friday, as investors held on to the belief that U.S. rates could fall even further this year. European shares posted their largest weekly gain in twelve weeks due to a strong performance by banking stocks. U.S. Gold Futures reached a record-high due to uncertainty about whether U.S. Import Tariffs will apply to the most common sizes of gold bars. Investors were looking for signs of an upcoming ceasefire between Russia and Ukraine after hearing that the United States was working with Russia to end the conflict in Ukraine. The expectation of a possible truce...

Crude Oil

Gold hits record high as stocks rise on investors' interest in Fed reform

Global shares rose Friday, as investors held on to the belief that U.S. rates could fall even further this year. U.S. Gold futures also hit a new record high due to uncertainty about whether U.S. import duties would be applied to the most common sizes of gold bar. Reportage The news that the U.S. is planning a truce with Russia sent global benchmark oil prices to a new session low of $1 per barrel. The economic outlook was impacted by tariffs, which added pressure to crude. Dollar was headed for a loss of 1% per week after U.S. president Donald...

Environment

Environment

Manhunt for a 'heavily-armed' suspect continues in the Australian bush after two officers were shot dead

The police manhunt for a "heavily-armed" gunman in Australia's rugged alpine wilderness entered its second day on Tuesday after the gunman shot two officers dead and injured another while they were serving a warrant in his rural property. Victoria Police said that the suspect gunman, Dezi Freeman (56), was a local with extensive bushcraft knowledge and multiple powerful firearms. Mike Bush, Victoria Police Chief Commissioner, said that he could confirm the fact that the suspect in this horrifying incident is still on the loose. The hunt will continue till we find him. A team of 10 officers, including the Sexual...

Environment

Scientists say that rapid loss of Antarctic ice could be a tipping point for climate change.

A scientific study published Thursday warned that rapid loss of Antarctic sea-ice could tip the climate in a way that is impossible to reverse. It would cause sea level to rise, ocean currents to change and marine life to disappear. The Nature paper aims to describe the effects of global warming in Antarctica, the continent frozen at the South Pole. It said that "Evidence of rapid, interdependent and sometimes self-perpetuating change in the Antarctic environment is emerging." The study used data from observations, ship logbooks, and ice cores to chart the long-term change in sea ice. It also put into...

Environment

China's July coal imports drop 23% due to abundant domestic supply

Data from the General Administration of Customs showed that China's coal imports in July fell by 23% compared to a year ago, due to a limited demand for imports. The imports of coal in July were 35.61 millions metric tons. Although down on the previous year, this was a rebound from June's two-year-low as the hotter weather prompted higher air conditioning demands, which supported electricity consumption. The market will be watching to see if China takes concrete steps in the future to reduce production and curb oversupply at home. The National Energy Administration issued a document on July 20 calling...

Mining

Mineral Resources

Mineral Resources

Australian shares fall to a two-week low amid economic data

Investors kept their distance from the market ahead of important economic data to get a sense of the Reserve Bank of Australia’s monetary policy. As of 0024 GMT, the S&P/ASX 200 was down by 0.5% to 8,854.20. The benchmark index ended Tuesday 0.3% lower. If the current momentum continues, the benchmark index is on course to record its fourth consecutive day of losses. The benchmark index has fallen 1.3% this month as traders lock in profits after its strongest August performance since 2009 The economic data for Australia's second quarter GDP is due to be released later today. Investors will...

Mineral Resources

BlueScope Australia's appeal against civil cartel cases dismissed

The Australian Competition Regulator said that the appeals of steel producer BlueScope, and its former General Manager against an earlier ruling in a civil anti-cartel proceeding brought by BlueScope were dismissed by a court. The court confirmed its previous findings, that BlueScope's former general manager and BlueScope tried to convince distributors in Australia to enter into agreements containing price-fixing clauses between September 2013 and July 2014. In 2019, Australia's Competition regulator initiated civil cartel actions against the company, and its former employee. The alleged conduct was in the supply flat steel products. Australian Competition & Consumer Commission stated that the...

Fossil Fuels

Gold to gain monthly on US rate cuts and soft dollar

The gold price was on course for a rise of more than a month on Friday, after reaching a peak of over a month in the previous session. This was supported by a softer dollar in general and expectations that the Federal Reserve will cut interest rates in September. As of 0223 GMT, spot gold was unchanged at $3,412.56 an ounce. Bullion is up 3.9% this month, and on Thursday it reached its highest level of $3.423.16 in the last 23 days. U.S. Gold Futures for December Delivery were flat at $3.473.70. Dollars fell 0.4% overnight and were set to...

Mineral Resources

Minister says that the Codelco-SQM Lithium deal will be completed before Boric's departure in 2026.

In an interview, Alvaro Garcia, the newly appointed Economy minister of Chile, said that he expects Codelco - a state-owned copper producer – and SQM - a local miner – to complete a major partnership deal with lithium before 2026 when the current administration leaves. Some presidential candidates have stated that they will review or cancel the deal if it is not completed before President Gabriel Boric leaves the office. This puts pressure on the administration to complete the crucial pillar in its pledge to increase the role of the state in lithium production. This is our immediate goal. "We...

Mineral Resources

Malaysia declares that China is willing to assist in rare earths processing

Malaysia said that China is willing to offer technical and technological assistance to Malaysia in the rare earths industry, but it only wants to work with state-owned companies. Malaysia is working to improve its rare earths processing and mining capabilities to capitalize on the growing global demand for these critical minerals, which are used in many products such as semiconductor chips, electric cars, and military equipment. China, which is the top rare earth miner and processor in the world, has tightened export restrictions to protect its position. Malaysia's Natural Resources and Environmental Sustainability minister Johari Abdul Ghani stated in a...

Mineral Resources

South32 is not concerned about Indonesian alumina replicating the nickel success.

South32, a diversified Australian miner, is closely monitoring the alumina developments occurring in Indonesia. The CEO Graham Kerr stated on Thursday that South32 will be watching to see if they drag down the prices of tin in the global markets in the same manner as its nickel industry. In recent years, Indonesia has increased its production of nickel to make it the world's largest supplier. This is a result of Indonesian efforts to increase domestic processing. Since then, the Indonesian government has sought to replicate this success on other markets. Last year, Indonesia became a net exporter for alumina. Alumina...

Mineral Resources

KoBold Metals awarded seven Congo Lithium exploration permits

KoBold Metals - the mining company owned by U.S. billionaires Jeff Bezos & Bill Gates - has been granted seven permits for the search of lithium and other minerals within the Democratic Republic of Congo. This was announced on Wednesday. In July, the Central African nation signed a contract with KoBold that allowed it to begin a large-scale exploration program for minerals. KoBold also acquired Manono, a lithium deposit that is considered to be one of the largest in the world. A company official said that "our exploration efforts will be centered on lithium" across the seven new licenses. Four...

Mineral Resources

Critical Metals signs an agreement to supply rare Earth to a US Government-funded facility

Critical Metals announced on Tuesday that it had signed a 10-year contract to supply heavy rare-earth concentrate to Ucore Rare Metal’s U.S. Government-funded Louisiana processing plant. The Tanbreez Project, a Greenland-based mining project in the development stage, is expected to produce up to 10,000 tons of concentrate per year. This represents 10% of initial production projections. The U.S. is looking to increase domestic production of essential minerals in order to counter China's near total control over the sector. Ucore Louisiana's facility received $18.4 Million from the U.S. Defense Department to begin construction on phase one of four. The company expects...

Mineral Resources

Indian Foreign Ministry: Quadruple important minerals for India and Japan

India's Foreign Ministry said that the Quad Group of countries was important to India and Japan, especially in relation to critical minerals. The ministry also stated that the two prime ministers would be discussing the grouping during this week. The Indian Prime Minister Narendra Modi will visit Japan from August 29-30 to attend the 15th India Japan Annual Summit. He will also hold discussions with his Japanese counterpart Shigeru ishiba. Modi will fly to Tianjin, a Chinese port city on the coast of the Pacific Ocean for the Shanghai Cooperation Organisation Summit (SCO), which takes place between August 31 and...

Mineral Resources

Fortescue, Australia's largest iron ore producer, reports its lowest annual profit in six years due to lower iron ore price

Fortescue, an Australian company, reported on Tuesday its lowest full-year profit for six years. The results met analyst expectations and the dividend was maintained. Fortescue also reaffirmed its commitment to renewable energy following a refocus of its growth strategy. According to the fourth largest iron ore mining company in the world, net profit attributable after taxes was $3.37 billion during the year ending June 30. This is down from $5.68billion a year earlier. This compares to the average analyst estimate of $3.43billion, according data compiled by LSEG. Fortescue has had its worst performance since fiscal 2019. Fortescue has been pushing...

Mineral Resources

Rio Tinto suspends Guinea mine work after iron ore reaches a record high of over a week

The iron ore futures reached a new high of one week on Monday, as Rio Tinto suspended its Simandou project after an incident. This heightened fears about a possible delay in the start of production at the mine. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 2.27% higher, at 787 Yuan ($110.06), its highest level since August 14. As of 8:10 GMT, benchmark September iron ore traded on the Singapore Exchange was up 2.69% at $103.3 per ton. This is the highest price since August 14. Rio Tinto, world's biggest iron ore mining...

Mineral Resources

Sources say that RPT-Trump is considering using $2 billion of CHIPS Act funding to purchase critical minerals.

Two sources with knowledge of the situation have confirmed that the Trump administration is mulling over a plan in which at least $2 billion will be reallocated from the CHIPS Act for the purpose of funding critical minerals projects, and to increase Commerce Secretary Howard Lutnick’s influence on the strategic sector. The move proposed would use funds already allocated to Congress for semiconductor manufacturing and research, thus avoiding the need for a new spending request. It also aims to reduce U.S. dependency on China in terms of critical minerals that are widely used by electronics and defense industries. Sources said...