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Energy Markets

Fossil Fuels

Natural Gas Liquids

US-sanctioned LNG tanker Zarya arrives in China, ship-tracking data showed

Ship-tracking data revealed that a third tanker carrying natural gas liquefied from Russia's Arctic LNG 2 project, sanctioned by the United Nations, arrived in a Chinese port Tuesday. According to Kpler, a provider of ship tracking data and LSEG, the sanctioned Russian gas tanker Zarya has arrived at Tieshan's LNG terminal in China's southwest province of Guangxi. LSEG data shows that the cargo is larger than 160,000 cubic metres and was loaded at Arctic LNG 2 in Gydan, northern Siberia, on July 30. The Arctic Mulan tanker delivered the first cargo of the project sanctioned in late August. Second cargo...

Fossil Fuels

China's coal imports in August hit an 8-month-high, but are still lower than the year-ago level

Customs data released on Monday showed that China's coal exports reached an eight-month peak in August. This was largely due to higher prices at home, but volumes were still below those seen a year ago. According to the General Administration of Customs, the country imported 42.74 millions metric tons of coke last month. This was the highest since December but down around 7% compared to August 2024. Toby Hassall is the lead analyst of LSEG's coal market. He said that "the rise in imports reflected a widened arbitrage as China’s domestic prices climbed following a reduction in coal production locally...

Oil & Gas

Trump is ready to launch a second phase of sanctions against Russia over the Ukraine conflict

Donald Trump, U.S. president, said Sunday that he was ready to move into a second phase in sanctioning Russia. This is the closest he's come to implying he might be about to ramp up sanctions against Moscow and its oil purchasers over the war with Ukraine. Trump has repeatedly warned Moscow of further sanctions, but he withheld them while pursuing peace talks. Trump did not commit to a decision, nor did he specify what the second phase would entail. When asked by a White House reporter if he was ready to move on to the "second phase" of sanctions, Trump...

Fossil Fuels

Reactions to India's reduction of consumption tax on hundreds items

India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to cars, to boost domestic demand. It also simplified the complicated structure of its goods and services tax to just two rates, from four. There were some exceptions, however, for luxury goods and "sin goods". Early sessions saw the benchmark BSE Sensex (BSE index) and Nifty 50 rise by 0.8% each. Here's how the industry has responded so far: ANISH SHAH, GROUP COOPERATIVE & MD MAHINDRA GROUP "The next-generation GST Reforms... mark an important moment in India's quest to build a simpler and fairer tax...

Natural Gas Utilities

Serbian Vucic wants to increase cooperation with Russia

Aleksandar Vucic, the president of Serbia, said that Serbia is hoping for a better cooperation with Russia. Vucic, along with Russian President Vladimir Putin, took part in the regional security summit held in Beijing. The Chinese hope to use this event as a counterweight to Western influence on global affairs. Vucic stated that "cooperation with Russia at the highest levels is very important for Serbia. This is especially true in the areas of energy and Russian supplies of gas," at the beginning of the meeting with Putin. Serbia is aspiring to be a member of the European Union. However, Russia,...

Natural Gas Utilities

Fico, the Prime Minister, says that Slovakia wants to normalise its relations with Russia by increasing gas imports.

Robert Fico, the Slovak prime minister, told Vladimir Putin that Russia wants to normalise relations with Slovakia and will increase imports of Russian natural gas via TurkStream. These comments were in direct conflict with the European Union's position, which seeks to reduce its dependence on Russian energy to punish Moscow for its invasion of Ukraine 2022. They also come at a crucial time in the efforts to end this conflict. Both Slovakia and Hungary, both EU member states, are led by populists who have maintained political ties with Russia which supplies most of their oil requirements. Fico told Putin during...

Oil & Gas

Kuwait invites bids on 1.8 GW water and power project

Kuwait has opened the bids for phase one of the Al Khairan water and power project. The project is a 1.8-gigawatt energy source that aims to alleviate Kuwait's power shortages. Kuwait Authority for Partnership Projects invited pre-qualified international consortiums to submit bids for Al Khairan Phase 1 independent water and power producer project. The project will also produce 125 millions imperial gallons per day of water. Kuwait, a member of OPEC and a major oil producer, is facing a severe electricity shortage because of rapid population growth, urbanization, rising temperatures, and maintenance delays in certain plants. The government has had...

Oil & Gas

Before Putin's Beijing trip, signs of Chinese influence are everywhere in Moscow

Chinese business centres near traditional Chinese pavilions. Russian adults practicing Kung Fu and learning Mandarin. Sizzling food being served at Chinese restaurants. Signs of Beijing's influence are everywhere in Moscow as President Vladimir Putin prepares to visit China next week. It seems like the contacts with China have intensified. "A mutual interest is increasing," said Natalia Gerasimova. She was a manager of a Russian company, and visited the Chinese landscape park in Moscow. "They are welcoming to us and they treat us well." In Russia, I also do not see resistance to these relationships. "Yes, we may have different mentalities...

Oil & Gas

Gold Reserve files to disqualify Elliott's bid for Citgo parent

Gold Reserve filed a motion on Wednesday to disqualify an opposing bid by an affiliate of Elliott Investment Management, which a Delaware court selected this month as the frontrunner in an online auction for Citgo Petroleum’s parent. The auction of PDV Holding (parent of Venezuelan refiner Citgo) was overseen by a court officer who determined that the winning bid in the competition was a $5.86-billion offer made by Elliott affiliate Amber Energy, despite his recommendation in July of a $7.4-billion bid from a group headed up Gold Reserve subsidiary Dalinar Energy. The officer will now have to submit a fresh...

Fossil Fuels

Italy will decide on Pirelli's Chinese Investor by September

Italian officials will decide in September whether or not to sanction Sinochem, the Chinese shareholder of Pirelli, for violating Rome's rules to curb Beijing influence over the tyremaker. The investigation by the government could exacerbate a dispute between Sinochem and its largest Italian shareholder, Camfin, as the two first parties claim that China's large holding is a threat to the group's plans to expand in the United States. Sinochem has declined to comment, while Pirelli is not available for comment. Sources who asked not to be identified said that the government of Prime Minister Giorgia Melons was supposed to make...

Climate Change

Luxcara, a German company, may cancel the Chinese turbine contract for a North Sea wind farm

Luxcara, a German company, said Monday that it could switch to Siemens Gamesa wind turbines for the 300 megawatt Waterkant Wind Farm. This would mean scrapping an agreement with a Chinese firm which had attracted political scrutiny and criticism by European turbine manufacturers. Luxcara, an asset manager based in Hamburg, has reserved 19 Siemens Gamesa wind turbines. Siemens Gamesa is a subsidiary owned by Siemens Energy of Germany. The same type was already purchased for the 1.5-gigawatt Waterekke Project, the largest offshore wind project ever undertaken in the German North Sea. The turbines would be replacing the ones that Ming...

Refined Products

Sinopec Shanghai Petrochemical's first-half profit falls

Sinopec Shanghai Petrochemical Co reported a net loss for the first six months of 2025 due to lower demand in refining products and chemical products. According to the report, Sinopec posted a net loss between January and June of 462.1 millions yuan (64.40million dollars). This compares to a profit of 27.9 millions yuan the previous year. Net sales fell 10.66%, to 33.498 billion Yuan, while sales of chemicals and refining products were down 16.14% and 3.21 %, respectively. The company stated that the market is still challenging with a strong supply and a weak demand. New-energy vehicles are increasing in...

Crude Oil

Crude Oil

The specter of stagflation clouds Fed's optimism

Kevin Buckland gives us a look at what the future holds for European and global markets. The market is optimistic about monetary policy. Rising equity prices and falling bond values are a good indicator of this. A rate cut next week at the Fed meeting has a decent chance to be a big one. Wall Street closed with new record highs over night, Taiwan's benchmark has reached a new peak and Japan's Nikkei index is moving back to Tuesday's unprecedented level. The unquestionable weakness of labour market indicates that policy easing will be imminent. The question is, however, how much...

Crude Oil

Asia stocks rise, bonds fall when traders assess the odds of a bigger Fed cut

Asian stocks followed Wall Street higher Wednesday, while bonds fell. Traders increased their bets on the possibility that the Federal Reserve would cut rates next week by at least one quarter point due to a softening of U.S. labor market conditions. The dollar is also rising, as the U.S. Inflation figures will be released on two days, beginning later Wednesday. These are the last data that will inform the Fed’s decision of September 17. Crude oil prices remained high after Israel's attacks on Hamas leaders in Qatar. The Nikkei 225 index in Japan rose 0.3%. South Korea's KOSPI increased by...

Crude Oil

Russell: Crude oil prices fall as negative factors increase.

The crude oil market is now expecting a decline in prices. At the largest gathering of the industry in Asia, the discussion was more about timing rather than direction. The outlook for prices is the main topic of discussion and presentations at the APPEC annual conference. This week was no exception. The market has changed and this year the bull was the least sighted amongst a sea full of bearish participants. The two factors that dominated APPEC, despite the fact that there are a number of factors that influence crude oil prices were OPEC+'s decision to continue unwinding the production...

Mining

Mineral Resources

Mineral Resources

Sources say that Zijin Gold aims to raise the Hong Kong IPO valuation above $30 billion.

Two people who have direct knowledge of this matter said that Zijin Gold International is planning to begin bookbuilding next week for its Hong Kong IPO, with a target valuation of more than $30 billion. One source said that Zijin Gold plans to open its books September 19 and aims to raise over $3 billion. According to LSEG, if the listing were that large, it would rank as Hong Kong's second largest listing of this year after Chinese battery company CATL raised $4.6 Billion in its May offering. Sources who refused to name themselves because the information is confidential said...

Mineral Resources

China's inflation figures are weak and iron ore prices have fallen due to profit-taking

The iron ore futures fell on Wednesday due to profit-taking, and lower-than-expected data for inflation in China, the top consumer. However, bets that demand would pick up, along with a resumption of production among mills, helped limit losses. As of 0320 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange slipped 0.06% down to 802.5 Yuan ($112.61) per metric ton. As of 0310 GMT, the benchmark October iron ore traded on Singapore Exchange was down by 0.56% to $106.75 per ton. Steven Yu, senior analyst at Mysteel, explained that traders have been liquidating some long positions...

Mineral Resources

Copper prices fall ahead of U.S. payroll benchmark revision

The copper price fell on Tuesday, as cautionary trading in anticipation of an important revision to U.S. employment numbers was offset by support from a major incident at a mine in Indonesia. In open-outcry official trading, the price of three-month copper at the London Metal Exchange dropped by 0.1% to $9.905 per ton. Commodity Market Analytics' Dan Smith said, "There has been a lot focus on the U.S. Economy with revisions to the U.S. Job Growth through March due today. Last Friday's data revealed that the job growth had almost stopped in August." Investors braced themselves for revisions which could...

Mineral Resources

Copper prices rise as stocks fall

The copper price was stable on Monday. This was due to the outflows of warehouses registered at the London Metal Exchange. A weaker dollar and expectations for stronger demand in China were also factors. In official open-outcry trade, the benchmark copper price on the LME fell 0.1% to $9.890 per metric ton. Last week, the contract reached a five-month peak of $10.038 amid growing expectations that U.S. rates will be cut in this month. The Yangshan premium and the import appetite of China, the top consumer, also supported the market. Its three-month record price is up 1.8% at $58 per...

Mineral Resources

China's steel exports and lower iron ore shipments have led to a rise in the price of iron ore.

Iron ore futures rose on Monday for the fifth consecutive session, helped by a sharp drop in shipments from one of its major suppliers and resilient steel exports to China's top consumer. The day-traded contract for January iron ore on China's Dalian Commodity Exchange ended 0.64% higher, at 792 Yuan ($111.05). By 831 GMT the benchmark October Iron Ore at the Singapore Exchange had risen 0.53% to $105.4 per ton. This was the highest price since July 24. Mysteel, a consultancy, reported that the shipment of the main steelmaking ingredient, mainly from Brazil, fell by nearly 50% or 5 million...

Mineral Resources

China's copper imports rose again in August

China's copper imports grew in August for the second month running as an Indonesian mine increased exports in anticipation of its expiration later this month. Data from the General Administration of Customs revealed on Monday that copper concentrate imports increased 8% to 2,76 million metric tonnes in August, compared with 2,56 million a year earlier. Ore is a major feedstock for copper-smelters. Analyst and traders say that Miner Freeport Indonesia has increased shipments in anticipation of the expiration date for its export license, September 16. Last month, the miner claimed that it would be able to export 90% of their...

Mineral Resources

Investors wait for demand signals to see iron ore prices rise

Iron ore futures remained in a narrow range Monday as investors waited for a new batch of trade statistics from China, the world's largest consumer. As of 0242 GMT, the most traded January iron ore contract at China's Dalian Commodity Exchange was unchanged at 787.5 Yuan ($110.44). As of 0232 GMT, the benchmark October iron ore traded on Singapore Exchange was trading at $104.95 per ton. Investors will be closely monitoring China's import and export statistics on Monday for any demand signals. Steelmakers in China's top steelmaking hub gradually resumed production on September 4 following the conclusion of a military...

Mineral Resources

Copper prices rise on weaker dollar and hopes of stronger Chinese demand

The copper price rose on Friday, as a lower dollar and expectations of stronger demand in China boosted prices ahead of the U.S. Jobs Report later in the day that could provide greater clarity about the U.S. rate trajectory. In open-outcry official trading, the price of three-month copper at the London Metal Exchange increased by 0.5% to $9.947 per ton. On Wednesday, the contract reached a five-month peak of $10.038 due to the growing expectation of a U.S. rate cut in the latter part of the month. A lower interest rate improves prospects for metals that are growth-dependent, and a...

Mineral Resources

Iron ore gains for the second week in a row as dollar weakness overshadows supply problems

The price of iron ore futures increased for the fourth consecutive session on Friday, and was heading to a second week-long gain as a weaker dollar and more bets for an interest rate reduction in the United States overshadowed a muted recovery in demand after a military display by China, which is a major consumer. As of 0814 GMT, the benchmark October Iron Ore traded on Singapore Exchange was 0.28% higher than its previous price at $105.1 per metric ton. The dollar has been weakening amid speculation of a U.S. Federal Reserve interest rate cut. The contract for the most...

Mineral Resources

ASIA GOLD - Record prices inflict a stifling effect on top hubs, while China and India switch to discounts

Due to the record-high prices of gold, demand for physical gold dropped in major Asian hubs this week. Dealers in China and India, two top consumers in Asia, responded by offering steep discounts in order to attract buyers. On Wednesday, spot gold prices reached a record high of $3.578.50 an ounce and were on track for their best three-month period. Indian dealers offer a discount Up to $12 per ounce above official domestic prices. This includes 6% import duties and 3% sales taxes, as opposed to the $4 premium last week. The price hike has caused the demand to be...

Mineral Resources

Andy Home: Myanmar mine still a major player in the tin market

As the market waits for the Man Maw Mine to return in Myanmar, tin continues to outperform other base metals on the London Metal Exchange. Two years have passed since the mine was shut down for a resource assessment. Six months have passed since the authorities of the semi-autonomous Wa State invited new applications for mining permits. There is still no sign of a significant increase in activity. The flow of tin concentrats from Myanmar into neighbouring China is almost completely dry. The uncertainty surrounding Man Maw led to a resurgence of fund interest in tin, which pushed the LME...

Mineral Resources

McGeever: Gold's rise as a reserve currency is unstoppable.

Concerns over inflation, the deteriorating fiscal health of the United States, Federal Reserve independence and geopolitical instabilities are raising concerns about the stability long-term Treasuries – traditionally the safest asset on the planet. Many central banks have responded by turning to gold, a "barbarous" relic. Gold and government bonds fortunes have diverged dramatically this year. This split was highlighted by the fact that bullion prices reached a new record high, and bond yields on long-dated bonds hit levels they hadn't seen for years, or in some cases ever. U.S. Treasuries aren't selling off as quickly as European or Japanese Bonds,...