Energy Markets

The dollar dropped for the tenth consecutive day against a basket, extending its longest losing streak since over 50 years. After an auction, Japanese stocks rose sharply. Government Bonds Investors showed a strong interest in the stock, setting the tone for the entire equity market. STOXX 600 in Europe was up by 0.1%, and is still on track for a modest gain each week. U.S. Stock Futures were flat for the day. This suggests a steady trading start later in the session. Wall Street stocks rallied Wednesday, led by small cap companies. The Russell 2000 index rose 1.9% while the...

The global shares are on a more stable footing today, thanks to an overnight rebound in Wall Street and the abating of a short selloff on bond markets and cryptocurrency. Bitcoin has regained the $90k level and reached a new two-week high, while Nasdaq futures and S&P500 futures each rose by 0.2%. The EuroStoxx 50 futures rose 0.3%, while the FTSE futures gained 0.1%. After a turbulent start to the week in which expectations of an imminent rate hike in Japan caused a global sell-off in bonds and a steep decline in cryptocurrency, stocks were caught up in the rush...

Valero Energy will upgrade its large crude distillation unit in Port Arthur's Texas refinery, which produces 380,000 barrels per day, in February, according to people familiar with plant operations. Tuesday, a Valero spokesperson failed to respond to a question about the refinery’s maintenance schedule. Valero will begin a series upgrades in February to the AVU 146 CDU to increase the unit's average capacity from 235,000 bpd up to 260,000 bpd. Sources said that improvements would be made to the processing of bottoms, which are heavy, gunky residue crude oils usually sent to cokers or used to make asphalt. Sources said...

Motiva Enterprises will perform maintenance on a coker this December and overhaul its large crude distillation system in September 2026, according to people familiar with the plant's operations. The refinery produces 640,500 barrels per day. A Motiva spokesperson failed to respond on Tuesday when asked for comments about the planned maintenance of the Port Arthur refinery in the United States, the largest. Sources did not specify which of the cokers in the refinery would undergo maintenance before the end 2025. Two cokers are available at the refinery. DCU-1 is capable of producing 54,000 bpd, and DCU-2 can produce 110,000 bpd....

The U.S. Department of Energy announced on Tuesday that it would provide up to $850 million in support of the development of small modular nuclear reactors by Tennessee Valley Authority and Holtec. The Trump administration and nuclear firms believe SMRs can help provide electricity in the U.S., where demand for power is increasing for the first time since two decades due to artificial intelligence mining, electric vehicles and cryptocurrency mining. SMRs are said to save money because they will be manufactured in factories. There are no such reactors under construction in America, and there is some doubt about their ability...

The Russian President Vladimir Putin begins a two-day trip to India on Thursday. He will be promoting more Russian oil sales, missile systems, and fighter jets to restore the energy and defence links that have been damaged by U.S. sanctions against India. Russia has been supplying arms to India since the 1960s. New Delhi is now its largest buyer of oil by sea despite Western sanctions imposed after Moscow invaded Ukraine in February 2022. India's crude oil imports will hit a low of three years this month after Russia was sanctioned for its increasing purchases of U.S. gas and oil....

Five Iraqi sources who are directly involved in the matter confirmed that Exxon Mobil had approached the Iraqi Oil Ministry to express their interest in purchasing the majority stake of Russian company Lukoil in the West Qurna 2 giant oilfield. Exxon is expanding its presence in Iraq, as the U.S. company returns to the country after sanctions imposed by the U.S. Exxon refused to comment, while Lukoil did not respond to the request for comment. The U.S. Treasury has given potential buyers permission to speak to Lukoil up until December 13 but will require approval for specific transactions. Last month,...

The Russian President Vladimir Putin begins a two-day trip to India on Thursday. He will be promoting more Russian oil sales, missile systems, and fighter jets to restore the energy and defence links that have been damaged by U.S. sanctions against India. Russia has been supplying arms to India since the 1960s. New Delhi is now its largest buyer of oil by sea despite Western sanctions imposed after Moscow invaded Ukraine in February 2022. India's crude oil imports will hit a low of three years this month after Russia was sanctioned for its increasing purchases of U.S. gas and oil....

The oil price held steady in the early trading of Tuesday, as participants weighed up risks arising from Ukrainian drone attacks on Russian energy sites and mounting tensions between the United States and Venezuela. They also pondered mixed expectations regarding U.S. gasoline inventories. Brent crude futures increased 7 cents or 0.1% to $63.24 per barrel at 0427 GMT. U.S. West Texas Intermediate Crude gained 10 cents or 0.2% to $59.42 per barrel. Both benchmarks rose more than 1% Monday, with WTI near its two-week high. In a client note, Saxo analysts stated that oil held gains while traders awaited the...

Saudi Energy Minister Prince Abdulaziz Bin Salman stated on Monday that a new mechanism adopted by OPEC+ for assessing members' maximum production capacity will help stabilize markets and reward those investing in production. OPEC announced on Sunday that the OPEC+ group has approved a mechanism for assessing members' maximum production capacities to be used to set baselines starting in 2027 against which output targets will be set. Prince Abdulaziz claimed that the production level determination mechanism was "fair" and "transparent". He said, "Now, we have the most detailed and transparent approach to managing the market in the future, as well...

Ankur Banerjee gives us a look at what the future holds for European and global markets After the Bank of Japan Governor Kazuo ueda's clearest indication yet of a potential move in the near future, the year that began with a rate increase in Japan could end with another. This will set the stage for an important month of divergence of monetary policy. Ueda stated that the BOJ would consider "pros" and "cons" of increasing interest rates during its next policy meeting, which will take place in two weeks. This statement helped strengthen the fragile yen by pushing Japanese government...

Stocks fell on Monday, after a strong November. A bout of risk-aversion gripped the markets as optimism about U.S. interest rate cuts remained unchanged. The yen strengthened as investors considered the possibility of a rate increase as early as this month. Investors were looking for clues about the timing of the next rate hike as Bank of Japan governor Kazuo Ueda spoke in Nagoya. Ueda told business leaders in an address that the central banks would weigh the "pros" and "cons" of raising interest rates at their next policy meeting. This was the strongest indication yet as to whether or...

The Russian rouble fell and the stocks in Russia dropped on Wednesday, after late-night talks at the Kremlin between President Vladimir Putin and Donald Trump's top representatives failed to produce a breakthrough regarding a solution to end Ukraine's war. The talks between Putin, Steve Witkoff (Trump's special representative) and Jared Kushner, Trump's son-in law, went well past midnight. Yuri Ushakov said that "compromises had not been reached" after the talks. The rouble fell 0.6% against the dollar at 0820 GMT and was down 0.5% against the Chinese Yuan at 11,01 on the Moscow Exchange where it is most traded. The...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. In the last month, there have been several instances where a rally in the market was suddenly halted due to sudden risk aversion. Sometimes this happened without any obvious cause. Shortly afterward, an upswing followed. Wednesday was another example of this. After a Monday drubbing, global stocks rose and bitcoin reclaimed its $90,000. It was at its highest level in almost two weeks. The European markets were also poised for a steady opening, as investors waited for the remarks of European Central Bank...

The stock market made modest gains on Tuesday and traders were cautious after a decline in cryptocurrency and a global selloff of bonds triggered by an upcoming interest rate increase in Japan. S&P futures were stable in early trading, following overnight falls on Wall Street. Japanese government bonds, however, remained under pressure before a 10-year bond auction, following a week-long fall on concerns about the nation’s fiscal outlook. In morning trading, the yields on 10-year JGBs increased by 1.5 basis points. They now stand at 1.88%, a record high for 17 years. Bitcoin, which was a talisman of sentiment, suffered...

The European stock market fell on Monday as it retreated from recent gains. However, the Japanese yen and government bond yields were boosted by comments that suggested the central bank may raise interest rates. The market was a little jittery during November but has strengthened over the last week as traders bet more on the Federal Reserve of the United States cutting rates at their December meeting. At 1023 GMT Europe's STOXX 600 fell 0.3% for the day, as markets were gripped by a new wave of risk-aversion. London's FTSE 100 remained flat, while Germany's DAX fell 0.9%. The MSCI...

Hokkaido Governor Naomichi Suzuki stated on Friday that the restart of Hokkaido Electric Power Co.'s Tomari Nuclear Power Plant in northern Japan was considered a real option at this time. Suzuki said he would take a final decision about the restart of the project after completing on-site inspections, and collecting feedback from the surrounding communities. The Nuclear Regulation Authority of Japan approved a safety assessment for Tomari's 912-megawatt reactor No. The final step in the 12-year-long process of restarting Tomari's reactor No. Suzuki stated that, given the regulatory approvals, the new emergency response plan of the government, and the expectation...

Asian shares will end a difficult November on a more stable footing as renewed hopes of a U.S. interest rate cut have helped calm valuation fears and Treasuries are rallying for the fourth consecutive month. The U.S. market, which was closed for Thanksgiving overnight, is due to have a shorter session on Friday. This means that activity will be more muted across all major asset classes than usual. The majority of European stocks were higher while currencies were more calm. In Asia, European stock futures rose by 0.1% while FTSE Futures rose by 0.2%. Wall Street futures, however, were affected...

The dollar fell on Thursday as traders began to weigh the possibility of a rate increase before the end of the year. Asian stocks also rose. The holiday-shortened week has resulted in limited movements across the markets. Stocks have maintained a generally positive tone, while currencies are more sedate. Investors have shrugged off AI bubble fears that had shaken equities early in November. The U.S. market is closed on Thanksgiving Day, Thursday. It will reopen for a brief session on Friday. MSCI's broadest Asia-Pacific share index outside Japan rose 0.4%, following Wall Street gains and on track to end a...

On Tuesday, global stocks rose and were on track for their third consecutive session of gains. Investors remained confident that the Federal Reserve will cut U.S. rates at its meeting in December, while U.S. Treasury Yields fell. Alphabet, Meta Platforms and other gains on Wall Street helped U.S. stock prices close higher. Google's parent company closed at $323.44, a record high. It is now close to $4 trillion market capitalization. This would make Google the fourth company in history to achieve this milestone. The Information reported Meta Platforms' 3.78% gain as the largest lift for the S&P 500. The company...

Investors piled into technology stocks on Tuesday, despite concerns that the sector was overheating. Investors believe that the AI-fueled tech boom will continue. MSCI's All-World Index rose for a 3rd day, lifting it off the two-month-lows of last week. Shares in Europe increased by 0.2%, and U.S. Stock Index Futures were either unchanged or slightly higher, after Monday's rally. RATE CUTTING BETS - RISING RATE The yield on 10-year Treasury Notes dropped nearly one basis point to 4.03%. Two-year yields, which are usually in line with traders’ expectations of lower Fed Fund rates, were stable at 3.49% in Europe after...

The Asian stock markets rose on Tuesday, as investors bought global technology stocks and shrugged off fears that the sector is becoming overheated. The broadest MSCI index of Asia-Pacific stocks outside Japan rose 0.75%, led by tech stocks. This was a partial recovery of last week's losses of 4%. The index is set to post its first monthly drop since March. The European futures were down 0.2%, which indicates a soft opening. The yield on 10-year Treasury bills was unchanged at 4,038%. The two-year rate, which increases with traders' expectation of higher Fed Fund rates, was stable at 3,495% during...

Investors began a week of events on a positive note on Monday as they took comfort in the growing expectation that the Federal Reserve will cut rates by December, even though policymakers are divided on such a move. The markets are preparing for possible catalysts. These include the release of U.S. retailer sales and producer price data, due later this week. Meanwhile, British Finance Minister Rachel Reeves will unveil her much-anticipated budget on Wednesday. Geopolitical events are also a focus. The U.S., Ukraine and other countries are working on a plan that will end the conflict with Russia. They have...

Investors began a week of events on a positive note on Monday as they took comfort in the growing expectation that the Federal Reserve will cut rates by December, even though policymakers are divided on such a move. The markets were preparing for possible catalysts. These included the release of U.S. retailer sales and producer price data, due later this week. In addition, British Finance Minister Rachel Reeves will also be releasing her highly anticipated Budget. After the United States, Ukraine and other countries announced that they had developed a "refined and updated peace framework" in order to end the...