Australia

Local media reported that despite assurances from Australian ministers, the market was well-supplied. The Sydney Morning Herald reported on Tuesday that New 'South Wales, Australia’s most populous state, had 165 petrol stations without diesel and 298 with no gasoline at all. This is as consumers stockpile fuel in anticipation of the U.S./Israeli war against Iran. Chris Bowen, the Energy Minister, confirmed in Parliament that there were shortages at petrol stations across multiple states. Bowen announced on Tuesday that fuel standards would be relaxed again, allowing more diesel to enter the market. This comes after Bowen had already lowered sulphur limits....

These are the most popular?stories from the Wall Street Journal. ? The accuracy of these stories has not been verified by the site. Rio Tinto has said that it is currently in negotiations with Mongolia regarding the Oyu Tolgoi mine, which is one of the largest deposits of?metal required to build data centers and electric vehicles. Shell agreed to sell Jiffy Lube?to Monomoy Capital Partners in a $1.3billion deal. Shell announced that the sale included Jiffy Lube, the?franchisee Premium Velocity Auto, and a network of stores operated by independent franchisees. Eric Trump and Donald Trump Jr. are supporting a new...

The current conflict in Iran could turn into a global crisis if major countries like the United States and China continue to make miscalculations, and retreat to narrow interests. The price of crude is a major focus of media attention. Brent crude futures, the benchmark, jumped as high as 20%, to $111.04 per barrel, the highest level since July 2022. The price of refined fuels like gasoline, diesel and jet fuel has risen even more than crude oil, but this is still not as alarming to consumers. Jet fuel was the main driver of the explosive increase in refined products...

Wesfarmers, the chemical and fertiliser division within the 'Australian conglomerate Wesfarmers, said on Thursday that it was possible some shipments of ammonium-phosphate cropping compound and urea could be delayed primarily due to?the Iran war. CSBP stated that it was "urgently assessing" its inventory levels and other supply options. The escalating conflict in the Middle East is causing shipping routes to be severely disrupted, which could limit supplies for 'key Asian importers as they prepare their cereal planting season. The company, based in Perth, is one of Australia's largest fertiliser suppliers. Western Australia has a strong agricultural sector and exports wheat....

Australian Energy Minister Chris Bowen stated on 'Tuesday' that there was no need for consumers to be concerned about fuel shortages, despite the growing U.S./Israeli conflict against 'Iran. Bowen, a reporter, told reporters that Australia had 36 days' worth of petrol in reserve, 34 days' worth of diesel and 32 days' worth of jet fuel. This is the highest level of reserves in over a decade. He said that there was no rush to fill up at the service station. "I understand people's concerns, but it's vital that they know we have a good stock of petrol in Australia. There's...

Ampol, Australia's largest?fuel retailer, reported a better-than expected annual profit? on Monday. This was driven by robust refiner margins at its lytton refinery in Queensland and a strong performance of its convenience retail operations. The refinery returned to profitability in fiscal year 2025 as a result of the Lytton refinery's margins, which rose by 46%, to $10.34 a barrel. This was due to global refinery failures and additional sanctions against?Russia. Fuel & Infrastructure, including its Lytton refinery business, reported full year operating earnings of A$405.6 (287.04 millions), which is more than double what it earned last year. Despite lower tobacco...

The Federal Court of Australia fined Mobil Oil Australia A$16 Million ($11.3 Million) for misleading claims made about fuel sold in petrol stations?in Queensland, said the country's competition regulator on Tuesday. Exxon Mobil owns Mobil Oil Australia, which supplies fuels such as petrol, diesel and other products to retailers in Australia. The Australian Competition and Consumer Commission took the local unit in 2024 to court. They claimed that the company misled its customers regarding fuel sold at six of their branded petrol stations located in Queensland. ACCC stated that Mobil acknowledged on Tuesday it had falsely claimed to consumers between...

Ampol, Australia's largest fuel retailer, forecast higher full-year earnings?Wednesday. This was supported by solid gains at its convenience retail arm and New Zealand operations. It also reported higher quarterly output. New South Wales based firm, whose EBIT is expected to reach around A$945 ($662.35 millions) in fiscal year 2025. This is up from A$715.2 (A$715.2) million the previous year. The full-year EBITDA (earnings before interest, taxes and depreciation) is expected to be around A$1,435million. Retail convenience volumes fell to 889 million (ML) litres in the fourth quarter, from 864 ML one quarter earlier. New Zealand volumes also dropped to 984...

On Tuesday, Australian shares recorded their worst session for over a week as rate hike fears shook heavyweight financials. Meanwhile, miners dropped after BHP warned that long-running negotiations with China's largest iron ore buyer are putting pressure on prices. The S&P/ASX 200 index closed at 8,815.90, a 0.7% decline. This is the steepest drop in a single day since December 15, 2025. Financials dropped by 1.1%. The four largest banks declined between 0.9% and 1.8%. According to Philip Pepe?, senior equities analysts at Shaw and Partners, the sector is losing momentum as investors are rotating out. He said that lower...

Coal India, which is focused on coking coal, has been scouting for partnership opportunities to mine rare-earth metals in?Australia and Russia as well as Argentina, Chile, and several African nations, said a senior?executive from its unit. This move follows China's decision to restrict exports of rare-earth materials late last year. The restrictions threaten operations in industries such as autos and electronics, which rely on these?critical minerals. "In our own country as well as in other countries, we will?invest. We are going explore. We are also working with other companies to find rare earth metals. Manoj Kumar Agarwal, Chairman and Managing...

Customs data revealed that China's coal imports in December rose to a "record monthly high" due to winter stockpiling and rising domestic prices. According to the General Administration of Customs, imports in December reached a monthly record of 58.59?metric tons. This is a sharp rebound from'supply constraints caused by major exporters Indonesia Australia and Russia in November. Buyers stock up on coal in anticipation of the coldest months, when heating demand drives consumption higher. A government index also showed that domestic coal prices rose to nearly a year high by the end of November. This would have led buyers to...

Australian shares recovered early losses and closed little?changed? on Thursday. Gains in heavily-weighted miners offset?a??drop? in top oil & gas producer Woodside Energy, after its CEO announced a surprising move to lead BP. After a three-day decline, the S&P/ASX 200 Index fell up to 0.4% and closed unchanged at 8,588.20. The main index, however, was on track to end its last full trading week in 2025, with a 1.3% drop, as sticky inflation and strong economic growth shattered expectations of future interest rate reductions. The markets now expect the central bank to make its next move upwards in the second...

Rio Tinto announced on Monday that operations had'resumed' at three of the four terminals in its 'Pilbara Iron Ore - Ports after Tropical Cyclone Narelle hit Western Australia. The storm disrupted shipments, but left its annual guidance unchanged. The miner was forced to?close two bauxite mining operations temporarily after Cyclone Narelle caused heavy rains and power outages on Australia's northeast coast earlier this month. South32 has also suspended operations at the?Gemco Manganese Mine, which is co-owned with Anglo American. Narelle slammed into Australia's northwest coastline?last weekend, forcing port closures in the iron-rich region of?Pilbara. Rio, the world's largest producer of...

France is one of the countries that will invest in critical Australian minerals projects, according to Australia's Resources Minister on Thursday. Canberra's framework agreement with the U.S. encourages nations with advanced manufacturing industries to secure access to supply. Australia is on a mission for the past four years to create an industry that will produce?minerals? like rare earths, which are essential to technologies in future such as electronics and defense. Countries want to diversify away from China as their dominant supplier. Australia signed agreements with Japan, South Korea and India as well as France, Germany, Britain, France and Germany for...

Australia and the European Union have signed a deal on Tuesday after eight years of negotiations. The agreement removes tariffs from almost all European goods, and nearly 'all' exports of critical minerals from Australia. Some Australian agricultural products, such as beef and lamb meat, will be subjected to export quotas. Australian farmers have sharply criticized the pact, claiming that it provides "subpar access" to the bloc. Both sides intensified their talks after the Trump administration increased U.S. Tariffs, and the West became more concerned about China's dominance in rare earths and critical minerals. Both sides signed an agreement to strengthen...

A World Gold Council executive said on Tuesday that central banks, who had been 'absent' from the market this year, are expected to purchase gold as a hedge to geopolitical and dedollarisation risks. Shaokai fan, the global head of the world banks at the WGC, said that in recent months, central banks from Guatemala and Indonesia, as well as Malaysia, have all purchased gold. This is either after a long break or for the very first time. He said, "We've seen a phenomenon in the past few months, where new central banks or central banks who have been inactive for...

Iron ore miner's fuel costs could rise by billions of dollars if diesel prices keep rising, said a senior executive at Australia's Fortescue on Monday. The 'U.S. and Israeli 'war on Iran' has almost stopped shipments across the Strait of Hormuz. This has sent oil and gas prices up and reduced the supply of diesel fuel, a key transport fuel in the mining industry. Benchmark Singapore Diesel swaps traded at slightly over $180 a bar on Monday. This is up from $92.5 a bar before the outbreak of war, according to LSEG. Dino Otranto said in an interview with a...

Syrah Resources, an Australian graphite mining company, announced on Monday that it had agreed to extend to June 1 a deadline for resolving a alleged breach of a graphite supplying agreement with Tesla. Tesla issued a previous notice alleging Syrah had failed to comply with an obligation to supply natural graphite AAM samples from its Vidalia plant in?Louisiana. The notice stated that Syrah must cure the alleged default before March 16 or else Tesla may terminate the offtake agreement for supply from Syrah’s 11,25 kilotons per annum AAM facility located in Vidalia. The companies have agreed to extend the deadline...

Australia's Lynas Rare Earths announced on Monday that?its unit Lynas US LLC had signed a binding letter of intent with the U.S. government to finalise an agreement for rare earth oxide supplies. According to the agreement, the Pentagon will spend $96 million on Lynas's light and heavy rare-earth oxide products, with an NdPr oxide floor price of $110 per kilogram. Lynas stated that the letter of intent outlines a framework for four-year supply agreement to support U.S. National Security and Supply-Chain Resilience objectives. It was revealed that the new offtake agreement 'followed a mutual decision by the companies to revise...

South32, an Australian diversified miner, announced on Monday that it had put its Mozal aluminum smelter in Mozambique under a 'care and maintenance' program on March 15. The company claimed that it was unable to secure a sufficient and affordable supply of power for Mozal after March 2026. As a result, it placed the smelter in care and maintenance. The Perth-based company and Mozambique’s government and energy suppliers have been negotiating for years in order to come up with an agreement that would allow the smelter to continue its energy-intensive operations. South32 has been in discussions with Hidroelectrica de Cahora...

China has increased its 'ban on BHP Iron Ore for the second time in just two weeks. This is a result of a contract dispute that has been ongoing for months with the third largest supplier of this key ingredient to steelmaking. Three sources familiar with the situation said that China Mineral Resources Group, the state-run buyer of iron ore, told domestic steel mills on Thursday they were prohibited from accepting Newman fines – a popular BHP ore found in ports – starting late next week. According to two anonymous sources, customers will be able to receive their cargoes in...

China has increased its ban on BHP iron ore a second time in two weeks. This is a result of a contract dispute that's been ongoing for months with the world's third-largest supplier. Three sources familiar with the matter said that China Mineral Resources Group (CMRG), the state-run buyer of iron ore, told domestic steel mills on Thursday they were prohibited from taking Newman fines – a popular BHP type of?iron stored in ports – as of next week. According to two sources, however, customers will still be able to receive their cargos in 'the next five days'. Due to...

Rio Tinto increased its offer of a?aluminum premium to?Japanese customers to $350 per ton for April-June primary shipments. This is up 79% compared to the current quarter. The revised offer, which is 40% more than Rio's prior proposal of $250, would, if accepted by the client, be the highest premium since the April-June 2015 quarter, when it reached $380 per ton. Japan is the largest?Asian metal importer and the premiums it agrees to pay each quarter for primary metal shipments over the London Metal Exchange cash price are the benchmarks for the region. Global?producers in late February offered Japanese buyers...

Investors 'purchased' mining stocks on Wednesday, after a recent sale 'linked to the Middle East War, and stronger iron ore prices and gold prices boosted?the sector. As of 2339 GMT, the S&P/ASX 200 index was up by 0.2% at?8,713.10. The benchmark closed 1.1% higher on Monday. After a recent sell-off sparked by inflation fears linked to volatile energy costs, stocks are now on the road to recovery. The Middle East conflict has nearly erased gains from earlier this year. This leaves the benchmark index flat year-to date. U.S. president Donald Trump predicted that the conflict would end soon, even as...