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Energy Markets

Fossil Fuels

Fossil Fuels

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. EXMAR: Exmar reported on Thursday a decline in FY IFRS revenues to $348.9 millions but an increase in IFRS EBITDA at $204.7 million. It will not be proposing a dividend in 2024. FLUXYS: Fluxys announced on Thursday that FY revenues and EBIT had increased to 608.8 millions euros ($657.0) and 133.9million euros, respectively. It proposes to pay a EUR 1.4 dividend per share. HAL TRUST HAL Trust reported that its NAV will increase by 2,20 billion euros in 2024 to...

Fossil Fuels

Pirelli shareholders from China and Italy clash over governance

Two sources claim that the Chinese shareholder is a potential obstacle to the Italian tyremaker’s plans to expand its business in the United States. Sinochem, a state-owned Chinese company, is the biggest investor in Pirelli. Sinochem holds a 37% share in Pirelli. This is at a time that China is the top cyber and military threat to the United States, according a report published by U.S. Intelligence agencies on Tuesday. Washington has cracked down on Chinese automotive technology, banning software and hardware that are controlled by Chinese companies from being used in U.S. roads. Vehicles that will be sold in...

Oil & Gas Refining

Pirelli's Italian shareholders and Chinese investors clash over governance

Two sources claim that the Chinese and Italian Pirelli shareholders are in disagreement over the governance of the group. This could lead to the failure to approve Pirelli's financial results 2024 during a scheduled board meeting on Wednesday. Sinochem, the state-owned Chinese company, is the biggest investor in Pirelli with a stake of 37%. This could affect the group's operations in the U.S. because Washington has been cracking down on Chinese automotive technology. Sources said that discussions are underway about how to further reduce Sinochem’s influence over the company after the Italian Government intervened in 2020 to curb the Chinese...

Oil & Gas

After Trump's new order, the trade of Venezuelan oil with China is halted.

The trade of Venezuelan crude oil to China, its top buyer, slowed on Tuesday following the U.S. President Donald Trump’s order that threatened tariffs against countries purchasing from Caracas. This came days after U.S. sanctioned China's imports of Iranian oil. Trump's surprise order caught Chinese traders and refiners by surprise. It states that, at the discretionary discretion of the Secretary of State, the U.S. can impose 25% tariffs starting April 2 on any goods imported from countries importing Venezuelan crude oil. Chinese traders and refiners are waiting to see the implementation of the order and if Beijing will instruct them...

Oil & Gas

Chinese Premier warns of "rising instabilities" at key business conference

At a Beijing business forum on Sunday, Chinese Premier Li Qiang called for countries to expand their markets in order to combat the "rising uncertainty and instability" as China prepares to face further U.S. trade tariffs. State media reported that Li said, "In an increasingly fragmented and uncertain world, with rising instabilities and uncertainties, it's more important for countries to open their markets and enterprise... to resist challenges and risks." He was speaking to dozens of visiting U.S. Republican senator Steve Daines and dozens other foreign CEOs at the China Development Forum. Sources previously said that foreign CEOs, including Tim...

Fossil Fuels

Traders say that new US sanctions will slow down but not stop China from importing Iranian oil.

Iranian oil shipments to China will likely fall after the new U.S. restrictions on a refiner, tankers and other vessels. This will increase shipping costs. However, traders expect buyers to find ways to continue to buy some quantities. Washington imposed new sanctions Thursday on entities, including Shouguang Luqing Petrochemical - a "teapot" or independent refinery located in the east China province of Shandong - and vessels that provided oil to these plants, which are China's top buyers for Iranian crude. The fourth round of sanctions against Iran's oil exports was imposed after President Donald Trump called for "maximum" pressure on...

Fossil Fuels

Sources say that the supply of Saudi crude oil to China will fall in April.

Trade sources reported on Thursday that Saudi Arabia's crude shipments to China, its largest customer, will drop to the lowest level for more than a full year in April. This is partly due to maintenance programs at Sinopec-owned Chinese refineries. Data shows that the OPEC producer, Saudi Arabia, allocated 34 million barrels to its Chinese clients in April, down from 41 millions barrels the previous month. China's drop in demand for Saudi crude oil is despite the Organization of the Petroleum Exporting Countries (OPEC+) and its allies agreeing to continue with their plan to increase production in April. Sinopec intends...

Fossil Fuels

After board shakeup, Couche-Tard launches charm offensive against Japan's Seven & i

Alimentation Couche-Tard wants to convince the Japanese people to accept its $47 billion offer for Seven & i. It also wants to address the antitrust concerns which have become a major stumbling-block in its bid to purchase the 7-Eleven owners. Canada's Couche-Tard which owns Circle-K has been pursuing Seven & i since months despite the cold reception it received from the Japanese retailer. If the deal goes through, this would be the largest foreign acquisition in Japan's history. On Thursday, executives from Couche-Tard held their first press conference at Tokyo. This was months after announcing a takeover bid for Seven...

Fossil Fuels

Couche-Tard on charm offensive with Seven & i in Tokyo

Alimentation Couche-Tard's management will address the antitrust concerns raised by Japan's Seven & i during a visit to Tokyo to advance talks on its $47 billion offer for 7-Eleven's convenience store operator. Circle-K's owner has been pursuing Seven & i since months, despite the cold reception it received from the Japanese retailer giant. If the deal goes through, this would be the largest foreign acquisition in Japan's history. Couche-Tard is holding its first press conference on Thursday in Tokyo since it announced a purchase bid for Seven & i back in August. This was part of their efforts to convince...

Fossil Fuels

Ecuador: upfront payment required for Sacha Oil Deal

The deadline for the Chinese-Canadian group to pay an upfront payment of $1.5 billion to Ecuador to develop the most productive oil block in the country has passed, said the energy minister on Wednesday. This appears to have scuttled the deal. The consortium, which is made up of subsidiaries from the Chinese state energy giant Sinopec, and Canada's New Stratus Energy had until Tuesday evening to pay the money and the deal wouldn't go through without it. The Energy Ministry has awarded the Contract for 20 years The northeastern Sacha Field, which produced 77,000 barrels of oil per day last...

Electric Utilities

ERG 2024, a renewable energy company in Italy, has a profit that is on par with its growth but is cautious.

The renewable energy company ERG announced a core profit in 2024 that was in line with the expectations, but warned of market volatility which would likely affect this year's bottom-line. In a late-night statement, the company said that it had also reduced its guidance for 2026 from earlier estimates due to a more conservative approach towards the green energy policies of the Trump administration and the late approval in Italy of a new law governing the renewables sector. Last year, the group's adjusted core profit amounted to 535 million euro ($583.69m), which was within the guidance range of 520 million...

Fossil Fuels

Recession risks creep onto the radar of markets

Financial markets are once again concerned about global growth as weakening U.S. data and rising trade tensions have a negative impact on consumer confidence and business activities. Recent data has alarmed investors, and President Donald Trump's 25% tariffs against Mexico and Canada have exacerbated growth concerns. The mood music has changed across the market. Oil prices have fallen to their lowest level since October. Stocks from New York and Tokyo are reversing recent multi-year highs. Two-year U.S. Treasury Yields are also at their lowest levels since October. Bond investors are predicting a rate cut in the near future. "Confidence is...

Crude Oil

Oil & Gas

Chinese state-owned firms restrict imports of Russian April ESPO blend oil, resulting in a discount on the price.

Four trade sources reported on Friday that the Far East flagship ESPO blend oil price in Russia fell to its lowest level in 10 months due to a cooling in demand by China, the main consumer of the oil. Prices for April loading have now become a discount at Chinese ports for first time since last June, they said. The sources reported that ESPO blend oil cargoes loaded for the next month were trading at a discount up to $1.50 a barrel against the ICE Brent benchmark, delivered to China. Data shows that this is the lowest level of price...

Crude Oil

Gold reaches record levels as trade worries weigh on stocks

The Asian and European stock exchanges extended their losses on Friday, while gold, the safe haven asset of choice for investors, reached a new record high. This was after President Donald Trump's latest tariff salvo fueled fears of a full-blown trade war. The dollar and oil were also in trouble, as Trump's 25% auto tariffs that will be implemented next week along with plans for a much wider global levies continue to draw harsh criticism from countries and companies. The Nikkei 225 index of Japan fell by nearly 2%, led by the sharp declines in auto giants Toyota, and Honda....

Crude Oil

Trump's auto tariffs cause a drop in stocks and a rise in gold

The European stock market fell on Thursday, and Wall Street is expected to open lower as shares of some of the biggest automakers in the world tumbled following U.S. president Donald Trump's announcement on new tariffs for auto imports. Trump announced 25% tariffs for all foreign-made vehicles and auto parts imported to the United States late Wednesday night, causing heavy losses overnight in Japanese and South Korean stock markets. After the bell, U.S. automobile manufacturers lost ground. General Motors shares fell 6% while Ford shares dropped almost 5%. This was due to concerns over the impact of their supply chains....

Mining

Mineral Resources

Mineral Resources

Asia Gold: High prices of gold surpass interest in buying physical gold in Asian hubs

The gold demand in India was sluggish due to record-high prices, and jewellers busy closing their accounts for the year. Most other Asian hubs saw a similar trend. Harshad Ajmera, a wholesaler at JJ Gold House Kolkata, said that "Jewellers weren't making purchases." India's fiscal year runs from April through March. The domestic gold price hit a new record of 89 796 rupees for 10 grams in the first week of this month. It has risen by nearly 15% since 2025. This week, Indian dealers offered a discount Discounts of up to $33 per ounce on official domestic prices, inclusive...

Mineral Resources

Iron ore declines but gains on a weekly basis due to resilient Chinese demand

The price of iron ore futures fell on Friday due to rising concerns about a trade war, but they posted a gain for the week on stronger demand in China, which is the world's largest steel-making consumer. The May contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading 0.19% lower, at 785.5 Yuan ($108.13). The contract is up 3.09% this week. As of 0722 GMT the benchmark April iron ore traded on the Singapore Exchange had fallen 0.14% to $103.35 per ton. This week, it has gained 3.44%. Everbright Futures reported that the monthly hot metal...

Mineral Resources

London copper drops to a two-week low due to US tariffs

The copper price in London fell to a two-week low last Friday as the unease about looming U.S. Tariffs affected sentiment. As of 0717 GMT, the benchmark three-month price for copper on London Metals Exchange (LME), fell 0.5% to $9801.5 per metric tonne. The price had fallen briefly to $9,800 - its lowest level since March 17. Prices were down 0.6% for the week. Last month, U.S. president Donald Trump ordered an investigation into possible tariffs on imports of copper to rebuild U.S. manufacturing. The markets are nervous about Trump's promise to announce new tariffs, in addition to 25% on...

Mineral Resources

Elon Musk’s Tesla will be less affected by Trump’s auto tariffs

Tesla, the electric vehicle manufacturer, was less affected by Donald Trump's auto tariffs than other automakers. Analysts said that Tesla's financial performance and supply chain may not be affected due to the large levies on global shipments, including cars and parts, to the United States. This is mainly because the company produces a majority of its products domestically. Even though Musk is now one of the primary advisors to President Trump, Musk's task may not be to improve the reputation of the brand worldwide. Musk was appointed by Trump as his chief adviser and has been tasked with cutting federal...

Mineral Resources

Elon Musk’s Tesla will be less affected by Trump’s auto tariffs

Tesla, the electric vehicle manufacturer, was less affected by Donald Trump's auto tariffs than other automakers. Analysts said that Tesla's financial performance and supply chain may not be affected due to the large levies on global shipments, including cars and parts, to the United States. This is mainly because the company produces a majority of its products domestically. Even though Musk is now one of the primary advisors to President Trump, Musk's task may not be to improve the reputation of the brand worldwide. Musk was appointed by Trump as his chief adviser and has been tasked with cutting federal...

Mineral Resources

Sources say that the Myanmar rebel group permits export of rare earth inventories from China

Two sources and an official statement have confirmed that a rebel group in Myanmar, which controls one of the largest rare earth zones on earth, has informed its miners it will permit shipments of rare earth to China starting Thursday. The Kachin Independence Army (KIA), which controls the town of Panwa, and Chipwe in Kachin State is the main mining company in Myanmar. Chinese customs data show that since the group's takeover, China has seen a sharp decline in its imports of rare-earth oxides and compounds, which have driven up prices. In a letter sent to the miners of the...

Mineral Resources

Executive says Indian alloy steel producers will file anti-dumping complaint against Chinese steel

Senior executive of the Indian alloy steel producers association told reporters on Thursday that it plans to file a petition against imports from China which are cheap with the Federal Trade Ministry soon. India is the second largest producer of crude steel in the world. It has the ability to produce around 18-20 millions metric tons of alloy steel per year, which is used by the auto, aerospace and defence sectors. Anil Dhawan (Director General of the Alloy Steel Producers Association of India, ASPA) responded to a question about the petition by saying that "there has been a continuous increase...

Mineral Resources

London copper edges up, stronger dollar caps rise

The copper price in London rose on Thursday, as the markets watched inflows to the U.S. of industrial metals as demand increased ahead of possible tariffs. However, a stronger dollar slowed the gains. As of 0241 GMT, the benchmark three-month price on the London Metals Exchange increased by 0.4% to $9 969 per metric ton. Prices reached $10,164.5 per metric ton in the last session. This is the highest price since June 7. After U.S. president Donald Trump ordered an investigation into possible tariffs on imports of copper to rebuild U.S. copper production, traders have bid up the price of...

Mineral Resources

Source: Indian steel imports will be affected by EU import restrictions but demand is strong locally

India's government is confident that the strong domestic steel demand will offset the European Union plans to tighten import quotas starting in April. A source with first-hand knowledge of the issue confirmed this. The European Commission announced on Tuesday that it will tighten steel import restrictions from next month, in an effort to protect the European steel industry from soaring imports. The EU will lower import quotas (also known as safeguards), limiting the amount that can be imported tariff-free into the 27-nation bloc. The source declined to identify herself as India had not publicly responded to the EU move. The...

Mineral Resources

EU trade chief meets Trump officials to avoid 'harmful tariffs'

Maros Séfcovic, the European Union's Trade Commissioner, was scheduled to meet with Donald Trump's top officials in charge of trade on Tuesday. The goal is to avoid U.S. tariffs that could be imposed on EU products as soon as next week. Sefcovic has had two prior discussions with U.S. trade representative Jamieson Greer and Commerce Secretary Howard Lutnick that have not altered Trump's plans for raising U.S. tariffs to match those charged by major trading partners, and to counter their non-tariff barriers. The USTR and Washington's EU delegation office did not immediately comment on the discussion. The meetings take place...

Mineral Resources

ICE, the parent company of NYSE, plans to introduce battery metals as derivatives in 2019.

An executive at Intercontinental Exchange said that the exchange plans to launch derivatives for battery metals Nickel, Cobalt, and Lithium Spodumene later this year in London. "Our customers are looking to us for products to hedge." "Our role is to ensure that there is a broad range of products," Chris Rhodes said at the FT Global Commodities Summit held in Lausanne, Switzerland. The launch of battery raw materials will begin this year with lithium, cobalt and spodumene. The global exchanges are attempting to capitalize on the expected strong growth in demand of minerals required for electric vehicles and batteries. The...

Mineral Resources

China's net gold imports through Hong Kong plummet m/m in February

Data from the Hong Kong Census and Statistics Department showed that China's net imports of gold via Hong Kong dropped by more than five times in February and fell below its exports, for a second month running. Data showed that China's total imports of gold via Hong Kong rose 7.5% in February compared to January. Why it's important China is the largest consumer of gold in the world, and it's purchasing activity can have a significant impact on global gold prices. Hong Kong's data might not be a complete view of Chinese gold purchases as it is also imported through...