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Energy Markets

Crude Oil

Crude Oil

Bitcoin tops $100,000, stocks party at record highs

Bitcoin broke $100,000 on Thursday as investors bank on a friendly U.S. regulatory shift, while world stocks touched fresh record highs with sentiment reinforced by upbeat comments on the economy from Federal Reserve primary Jerome Powell. France's federal government lost a confidence vote late on Wednesday for the very first time since 1962, with the far-right and leftist legislators signing up with forces to fall Michel Barnier's government, however the relocation had been widely prepared for by investors, so the euro, French stocks and bonds were mostly steady on Thursday. U.S. stock futures were a touch lower, recommending a bit...

Fossil Fuels

China's gas exports rebound in November before tax modifications

China's gas exports are anticipated to have actually rebounded in November after refiners rushed to protect higher earnings before changes to export tax refunds worked this month, analysts and traders said. The increase could reduce China's high products stocks and offer short support to Chinese refiners that have actually dealt with thin margins as demand at the world's No. 2 consumer of the product barely grew this year. China's exports of gasoline, diesel and jet fuel are approximated to rise to 2.74 million metric heaps in November, with Singapore the greatest destination for the first 2 fuels, according to shiptracking...

Crude Oil

Russia's crude oil and LNG shipments to Asia slip a little in 2024: Russell

Asia's imports of Russian petroleum and melted natural gas are set to log little decreases this year and while coal had a larger drop, there's little evidence that Western sanctions are working well. Russia has actually come to depend on Asia, the world's biggest buyer of energy commodities, to soak up cargoes that are no longer able to be offered to buyers in Europe and elsewhere as an outcome of sanctions positioned against Moscow in the wake of the February 2022 invasion of Ukraine. China and India emerged as major purchasers of Russian crude, coal and LNG after the intrusion,...

Oil Refineries

Saudi Arabia boosts crude oil share in Asia at Russia's cost: Russell

Saudi Arabia clawed back market share of Asia's petroleum imports in November, while Russia gave up some of its barrels in what might be an early sign of a shift in market dynamics. Asia's imports from Saudi Arabia, the world's biggest crude exporter, rose to 5.83 million barrels each day (bpd) in November, up from 5.28 million bpd in October, according to data assembled by LSEG Oil Research. Meanwhile Russia's materials to Asia, the top-importing region, dropped to 3.51 million bpd in November, down from October's 3.96 million and the most affordable given that January, according to LSEG. The information...

Crude Oil

Asia stocks increase after Wall Street records; dollar rebounds

Asian stocks got on Monday, buoyed by record high closes on Wall Street, while the dollar recuperated from multiweek lows against the yen and British pound in an important week for the U.S. rates of interest outlook. Chinese shares got an additional increase from a robust reading in a private production survey on Monday, confirming strength in the main data on manufacturing from the weekend. Inbound U.S. President Donald Trump supplied the dollar support by warning the BRICS emerging nations versus trying to replace the greenback with any other currency. There'll be 2 chauffeurs of market volatility this month. The...

Crude Oil

Canada PM Trudeau visits Florida to consult with Trump amidst tariff threat

Canadian Prime Minister Justin Trudeau visited Donald Trump's Florida resort on Friday to consult with the U.S. Presidentelect, days after Trump threatened to slap tariffs on Canadian imports over borderrelated issues. Trudeau, whose public itinerary did not note a scheduled see to Florida, was seen leaving a hotel in West Palm Beach, Florida, to go to Trump's Mar-a-Lago resort, according to a. Reuters witness. Trudeau's workplace and Trump's agents did not. immediately responded to ask for remark. Trump threatened on Monday to impose a 25% tariff on imports. from Canada and Mexico up until the nations clamped down on. drugs,...

Crude Oil

MORNING quote EUROPE-Yen bulls charge ahead after Tokyo inflation data

A look at the day ahead in European and worldwide markets from Stella Qiu It was expected to be a quiet post-Thanksgiving session in Asia but hotter-than-expected CPI readings for Tokyo pushed investors to chase after the yen, which is on track for its finest week in 4 months. The yen surged as much as 1.1% to its greatest in 6 weeks, breaking below the 150-per-dollar limit as traders ramped up bets on a rate walking by the Bank of Japan next month. Swaps now indicate a 60% possibility for a quarter-point hike to 0.5%,. which would be the greatest...

Crude Oil

European stocks perk up as markets sluggish for Thanksgiving

European shares ticked up on Thursday after falling the previous day, while Asian stocks slipped, as trading volumes thinned ahead of the U.S. Thanksgiving vacation. Europe's continent-wide STOXX 600 index increased 0.48%, after falling 0.75% throughout the previous 2 sessions. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.52%, but Japan's Nikkei climbed up 0.56%. Trading in U.S. equities and Treasuries was closed, but futures for the U.S. S&P 500 were up 0.24% after the index fell 0.38% on Wednesday. European markets were improved by a rally in tech shares after Bloomberg reported the Biden administration's curb on Chinese...

Crude Oil

European stocks and dollar liven up as markets sluggish for Thanksgiving

European shares ticked up along with the dollar on Thursday after both fell the previous day, while Asian stocks slipped, as trading volumes thinned ahead of the U.S. Thanksgiving vacation. Europe's continent-wide Stoxx 600 index increased 0.62% in early trading after slipping 0.75% over the previous 2 sessions. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.52%, however Japan's Nikkei climbed 0.56%. Trading in U.S. equities and Treasuries was closed, however U.S. stock futures determines ticked greater. Futures for the U.S. S&P 500 were up 0.11% after the index fell 0.38% on Wednesday. Data on Wednesday revealed U.S. customer...

Crude Oil

Asian stocks suppressed, dollar wanders ahead of US Thanksgiving

Asian shares were suppressed on Thursday and the dollar was on the defensive after U.S. data revealed progress in slowing inflation had stalled even as the economy stayed durable, raising doubt over the path the Federal Reserve might take next year. With the U.S. Thanksgiving holiday likely to keep trading thin for the rest of the week, traders remained hesitant in placing significant bets. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.07% lower, with Japan's Nikkei up 0.46%. Belief stayed frail as financiers contemplated the possibility of a tariff war stimulated by U.S. President-elect Donald Trump's policies. Information...

Crude Oil

Stocks climb while dollar falls as markets cheer US Treasury pick

MSCI's global equities determine rose and the dollar fell with U.S. government bond yields on Monday as investors invited the incoming U.S. President's choice of fund supervisor Scott Bessent as the next U.S. Treasury Secretary. Wall Street indexes picked up speed, with the S&P 500 and the Dow touching record highs as investors were encouraged by Donald Trump's choice for the leading economic task. Some cited a focus on tax cuts and others wager he would be fiscally cautious. U.S. Treasury yields fell sharply as investors speculated on a more moderate than feared U.S. fiscal trajectory. What we're in is...

Crude Oil

MORNING quote EUROPE-Bonds rally, dollar dips on Treasury option

A take a look at the day ahead in European and worldwide markets from Wayne Cole Asia has been controlled by the market reaction to the choice of fund manager Scott Bessent as incoming U.S. Treasury Secretary, with the primary feeling one of relief that he's a. mainstream prospect instead of an unidentified. The truth that Bessent talks like a fiscal hawk sufficed to. push 10-year Treasury yields down by 6 basis points, though. whether he will be able to trim deficits while rolling over. due-to-expire tax cuts remains to be seen. In various media appearances he has talked of...

Environment

Environment

Soy traders push to compromise restriction on purchasing from deforested Amazon

Multinational grains traders operating in Brazil are seeking to weaken an arrangement that forbids purchasing soybeans from farms on deforested land in the Amazon rainforest, environmental advocates involved in the discussions said on Wednesday. Soy traders consisting of ADM, Cargill, Cofco and Bunge signed up for the Amazon soy moratorium in the mid-2000s, pledging to stop buying soy from farms in the Brazilian jungle that were deforested from 2008 onward. Researchers and conservationists have actually applauded the voluntary moratorium for slowing deforestation in the Amazon, the world's. biggest rainforest and a bulwark versus climate modification due to the fact that....

Climate Change

Taiwan's President Lai in United States area of Guam as part of Pacific tour

Taiwan President Lai Chingte remained in the U.S. area of Guam on Wednesday, his second U.S. stopover in less than a week during a tour to enhance ties with Pacific allies in the face of increasing Chinese pressure. Lai showed up from Tuvalu and will stay in Guam one night before heading to Palau and going back to Taipei on Friday. Lai was welcomed in Guam by Ingrid Larson , Washington office handling director of the American Institute in Taiwan, the body that functions as the informal U.S. embassy in Taiwan. Lai was likewise welcomed by Guam Governor Lou Leon...

Climate Change

Taiwan's President Lai sees Pacific ally Tuvalu

Taiwan President Lai Chingte showed up in Tuvalu on Wednesday, a Tuvalu authorities stated, enhancing ties with the remote Pacific Island country on the frontline of environment change. Taiwan's President and his delegation arrived this morning in Tuvalu, a Tuvalu government authorities told Reuters. Lai flew in on a private jet from the Marshall Islands and will remain in Tuvalu for the day before leaving for Guam, as part of a Pacific trip of allies. Tuvalu Prime Minister Feleti Teo reaffirmed ties with Taiwan after he was chosen in February, and travelled to Taipei to meet with Lai for Taiwan's...

Mining

Mineral Resources

Mineral Resources

Antofagasta, Jiangxi concur significant drop in 2025 copper TC/RCs, sources

Chilean miner Antofagasta and Jiangxi Copper have agreed considerably lower copper concentrate processing costs for 2025, four sources with understanding of the matter informed Reuters on Thursday. The contract in between Antofagasta and Jiangxi Copper for treatment and refining charges (TC/RCs) of $21.25 a heap and 2.125 cents per pound represents a drop of 73.4% from the $80/8. cents market standard for 2024, an indication of concerns about. sufficient availability of copper concentrate in the area market. in 2025. Antofagasta decreased to comment. Jiangxi Copper was not. instantly offered for comment. The costs, known as treatment and refining charges (TC/RCs),....

Mineral Resources

LME copper hardly altered as traders wait for fresh triggers

London copper rates were little altered on Thursday, as market participants looked for more cues on China's fiscal stimulus and news on possible U.S. trade tariffs. Three-month copper on the London Metal Exchange (LME). was at $9,078.5 per metric ton as of 0311 GMT, following. its Wednesday close of $9,083. On the other hand, the most-traded January copper agreement on the. Shanghai Futures Exchange (SHFE) reduced 0.5% to 74,430. yuan ($ 10,241.20) a ton. Traders are preparing for extra financial stimulus measures. from the upcoming Central Economic Work Conference in China, the. world's biggest consumer of metals. At the very...

Mineral Resources

Iron ore slides as investors stress China stimulus will disappoint once again

Iron ore futures costs moved on Thursday as investor belief was moistened after state media in leading consumer China stressed qualitative enhancements ahead of a longanticipated conference that is anticipated to set the tone for financial development next year. The most-traded January iron ore agreement on China's Dalian Commodity Exchange (DCE) traded 0.68% lower at 804.5 yuan ($ 110.64) a metric ton, since 0239 GMT. The benchmark January iron ore on the Singapore Exchange slipped 1.03% to $104.25 a ton. China is not wedded to accomplishing particular GDP growth rates, and a pace of less than 5% for the economy...

Mineral Resources

Nippon Steel devoted to U.S. Steel takeover, aims to close in Dec, states executive

Japan's Nippon Steel is devoted to its $15. billion acquisition of U.S. Steel and is positive of. completing it by year-end, a senior executive stated, in spite of. strong U.S. opposition consisting of from President-elect Donald. Trump. We will not quit on the deal ... There is no worldwide. strategy without the U.S., Nippon Steel Vice Chairman Takahiro. Mori informed Reuters this week, after returning from his 8th. check out to the United States considering that the deal was announced a year. earlier. With U.S. Steel, Nippon Steel intends to raise its worldwide steel. production capability to 85 million metric...

Mineral Resources

Clear Street joins London Metal Exchange's open-outcry trading floor

The London Metal Exchange ( LME) has actually authorized the application of a British arm of U.S. broker Clear Street for Category 1 membership, providing it access to the LME's openoutcry trading flooring, the LME said on Wednesday. Clear Street joining the LME floor trading takes the variety of dealing members on Europe's last open-outcry location back to eight after Societe Generale said in August it would leave the flooring. The arrival of a new member of the calibre of Clear Street demonstrates the LME's ability to provide a dynamic marketplace for industrial metals and our place at the centre...

Mineral Resources

Copper rates slide under pressure from stronger dollar

Copper costs in London fell under pressure from a more powerful dollar and technical elements on Wednesday while the marketplace awaits more clearness as needed potential customers in leading metals consumer China and possible trade tariffs. Three-month copper on the London Metal Exchange ( LME) was down 0.2% at $9,093 a metric heap by 1114 GMT. The metal utilized in power and building and construction increased 1.3% on Tuesday and closed at the highest considering that Nov. 12. However it remains variety bound while financiers watch for advancements on import tariffs threatened by U.S. President-elect Donald Trump and possible retaliation...

Mineral Resources

Iron ore dips as trade tensions between China and US intensify

Iron ore futures costs slid on Wednesday on riskoff sentiment stimulated by the escalation of trade stress between United States and China, although lingering expectations of fresh Chinese financial stimulus topped losses. The most-traded January iron ore agreement on China's Dalian Product Exchange (DCE) ended early morning trade 0.19%. lower at 807 yuan ($ 110.84) a metric load. The benchmark January iron ore on the Singapore. Exchange was 0.67% lower at $104.4 a heap, as of 0405 GMT. China on Tuesday banned exports of crucial minerals gallium,. germanium and antimony that have prevalent armed force. applications to the United States,...

Mineral Resources

London copper eases from near two-week peak as dollar gains back ground

London copper rates retreated on Wednesday from a near twoweek high, as the dollar gained back some ground, while concerns over China's need outlook and capacity U.S. tariffs persisted. Three-month copper on the London Metal Exchange (LME). fell 0.4% at $9,076 per metric heap by 0325 GMT after. hitting its highest level given that Nov. 20 on Tuesday. The U.S. dollar recuperated from a three-week low and held its. ground versus other significant rivals as traders contemplated the. possibilities of a rates of interest cut by the Federal Reserve this. month. A more powerful dollar makes metals more expensive for...

Mineral Resources

Copper rebounds as dollar dips

Copper rates in London rose on Tuesday as the U.S. dollar weakened after rallying on Monday, although issues about economic growth in top metals consumer China and unpredictability about trade tariffs capped gains. Three-month copper on the London Metal Exchange was up 0.9% at $9,073.50 per metric ton by 1048 GMT after striking $ 9,104, its highest since Nov. 21. Copper, utilized in power and construction, is down 10% in two months and has been selling a tight range since mid-November as the market awaits developments in President-elect Donald Trump's proposed import tariffs and possible retaliation from China. Base metals...

Mineral Resources

Korea Zinc agrees to shareholder meeting to discuss Young Poong's board expansion proposition

Korea Zinc stated on Tuesday its board has decided to hold a special investors' conference on Jan. 23 to discuss the appointment of directors proposed by stakeholders Young Poong and personal equity firm MBK Partners amid an escalating defend control of the business. Korea Zinc led by Chairman Yun B. Choi seeks to retain management control of the world's leading improved zinc producer in the face of a takeover quote by Young Poong, a rival manufacturer, and its ally MBK. They are Korea Zinc's two most significant shareholders. Young Poong and MBK asked a court to need Korea Zinc to...

Mineral Resources

Dalian iron ore nears two-month high on China stimulus bets, restocking

Dalian iron ore futures costs advanced for a third straight session on Tuesday to the greatest in almost two months amidst expectations of more financial stimulus and seasonal restocking from steelmakers in top consumer China. The most-traded January iron ore agreement on China's Dalian Commodity Exchange (DCE) ended morning trade 0.94%. higher at 809 yuan ($ 110.96) a metric load. Earlier in the. session, the agreement touched its greatest level since Oct. 8 at. 813.5 yuan a heap. The benchmark January iron ore on the Singapore. Exchange was unchanged at $104.6 a heap, as of 0426 GMT, after. striking the...

Mineral Resources

London copper falls on dollar pressure, Trump's tariff hazard

London copper prices succumbed to a 2nd directly session on Tuesday as a firmer U.S. dollar and as uncertainty over prospective U.S. tariffs weighed on the market. Three-month copper on the London Metal Exchange (LME). eased 0.3% to $8,964 per metric lot by 0245 GMT after. hitting a more-than-two-week low on Monday. The most-traded January copper contract on the Shanghai. Futures Exchange (SHFE) got 0.2% to 73,890 yuan. ($ 10,129.27) a lot. The U.S. currency was resilient, making dollar-priced metals. costlier for holders of other currencies. Markets are concerned about President-elect Donald Trump's. proposed import tariffs, which could damage global...