Energy Markets

The major stock indexes fell slightly on Friday, as U.S. president Donald Trump's announcement that tariffs would be imposed on Canadian imports sparked concerns about trade tensions. Meanwhile, the Canadian dollar was down against the US dollar. Investors also awaited an announcement by Trump regarding tariffs against the European Union. This move will likely trigger a tit for tat response from Europe and create new market uncertainty. Trump announced late Thursday that the U.S. will impose a tariff of 35% on Canadian imports in one month. He also said he planned to impose tariffs blankets of 15% or 20 %...

The major stock indexes fell slightly on Friday, as U.S. president Donald Trump's announcement that tariffs would be imposed on Canadian imports sparked concerns about trade tensions. Meanwhile, the Canadian dollar was down against the US dollar. Investors also prepare for a Trump announcement of tariffs against the European Union. This move will likely trigger a titt-for-tat reaction from the EU and create new market uncertainty. Trump announced late Thursday that the U.S. will impose a tariff of 35% on Canadian imports in a month's time and plans to impose tariffs blankets of 15% or 20 % on most other...

Stella Qiu gives us a look at what the future holds for European and global markets. On Friday, the markets were jolted from what appeared to be a dull day in summer when U.S. president Donald Trump went on TV to inject new drama into his simmering wars of trade and to disrupt Wall Street's recent upward trend to record highs. Trump stated that tariff letters would be sent to Canada and Europe "today or tomorrow". He also floated the idea of increasing the tariff rate for other countries who do not receive a tariff letter from 10% to 15%...

Early Friday, oil prices were stable after a 2% decline in the previous session. This was due to President Donald Trump's tariffs that are expected to harm economic growth and a reduction in OPEC demand estimates. Brent crude futures increased 19 cents or 0.28% to $68.83 per barrel at 0037 GMT. U.S. West Texas Intermediate Crude ticked up by 26 cents, or 0.39% to $66.83 per barrel. In its World Oil Outlook 2025, published on Thursday by the Organization of Petroleum Exporting Countries (OPEC), the organization cut its predictions for the global oil demand from 2026-2029 due to the slowing...

Oil prices fell on Thursday, as market participants perceived that the latest tariff announcements made by U.S. president Donald Trump would threaten global economic growth. Brent crude futures fell 22 cents or 0.31% to $69.97 per barrel at 0052 GMT. U.S. West Texas Intermediate Crude lost 27 cents or 0.39% to $68.11 per barrel. After a public spat, Trump threatened to impose a 50% penalty on Brazil's exports to the U.S. Trump had announced tariffs for copper, semiconductors, and pharmaceuticals. His administration also sent tariff letters to Iraq, the Philippines, and other countries. These letters were added to a dozen...

The major stock indexes rose Wednesday, as Nvidia briefly reached a valuation of $4 trillion. Meanwhile, the euro dipped, as the Trump administration was getting closer to an agreement with its largest trading partner, the European Union. The U.S. president Donald Trump has issued final tariff notifications to seven minor trading partner. Bitcoin reached a new high of $112,000 on late Wednesday. This was largely due to increased risk appetite and continued institutional demand. The U.S. stock market rose after the minutes of the Federal Reserve meeting on June 17-18 revealed that only "a few" officials said they believed interest...

The major stock indexes grew on Wednesday, with Nvidia reaching a valuation of $4 trillion. Meanwhile, the dollar was barely changed, and the euro dipped lower as U.S. president Donald Trump sent final tariff notices out to seven minor trading partners. The Trump administration is also getting closer to an agreement with the European Union, its largest trading partner. Trump escalated his trade war on Tuesday by announcing that he would impose 50% tariffs on imported copper. This move caused the copper price in the United States to soar and stock prices in America to fall. He said that he...

The major stock indexes rose Wednesday, as Nvidia reached a valuation of $4 trillion. Meanwhile, the euro fell against the dollar. This was despite the European Union stating that it would be able to reach an outline trade agreement with the United States within the next few days. U.S. president Donald Trump has promised to deliver more tariff notices against unnamed nations. Trump expanded his trade war on Tuesday by announcing that he would impose an import copper tariff of 50%. This move caused the copper price in the United States to soar and stock prices in America to fall....

The European stock market rose on Wednesday, as traders appeared unconcerned about the announcement by U.S. president Donald Trump that he will impose a tariff of 50% on imported copper. He also announced he would introduce levies up to 200% on pharmaceuticals. Trump's remarks on Tuesday caused the price of Copper to reach record highs, and Wall Street to close down. The equity markets quickly shrugged the news off. Asian stocks were mixed over night and the MSCI World Equity Index rose 0.1% at 0956 GMT. The London FTSE 100 rose 0.2%, while the pan-European STOXX 600 rose 0.8%. Wall...

The European stock market opened Wednesday slightly higher, with little reaction to the announcement by U.S. president Donald Trump that he will impose a tariff of 50% on imported copper as well as levies up to 200% on pharmaceuticals. Trump's remarks on Tuesday caused the price of Copper to reach record highs, and Wall Street to close down. The equity markets quickly shrugged the news off. Asian stocks were mixed over night and the MSCI World Equity Index rose 0.1% at 0835 GMT. The London FTSE 100 rose 0.1%, while the pan-European STOXX 600 increased by 0.4%. The U.S. Dollar...

Suhail al Mazrouei, United Arab Emirates Energy Minister, said that oil markets were absorbing OPEC+ increases in production without building up inventories. This means they were thirsty for even more oil. OPEC+ has cut production to support the oil market for many years. It reversed its course in order to gain market share, and after U.S. president Donald Trump asked the group to pump more oil to keep gasoline prices low. OPEC+ started to reverse its 2.17 million barrels a day cut in April, with a 138,000 bpd increase. In May, June and Juli each month saw increases of 411,000...

The oil prices fell on Wednesday, after reaching two-week highs the previous day. Investors were waiting for new developments regarding U.S. Tariffs and the expectation of rising crude stocks in the United States. Brent crude futures fell 7 cents or 0.1% to $70.08 per barrel at 0400 GMT. U.S. West Texas Intermediate Crude fell 8 cents or 0.1% to $68.25 per barrel. The latest delay in tariffs by U.S. president Donald Trump gave some hope to the major trading partners Japan, South Korea, and the European Union, that deals could be reached to reduce duties. However, it left some smaller...

BHP, the world's largest listed miner, announced on Monday that it had signed preliminary agreements with China's battery giants CATL & BYD in order to explore battery options for mining equipment & transport across all its global operations. The companies will research and develop joint battery solutions for heavy equipment, such as locomotives and mining trucks. BHP's Western Australian operations transport millions of tons iron ore from mine sites all the way to the coast. Both companies will be involved in the study of battery recycling and fast charging infrastructure. The new products could also be a model for reducing...

Australia and China need to work together more closely on green steel, said Anthony Albanese, the Prime Minister of Australia, in Shanghai, on Monday. He also called for China, the world's biggest steelmaker, to reduce its excess production capacity. China depends on Australia for two-thirds or its iron ore consumption by its massive steel industry. This trade will bring Canberra A$105 Billion ($68.90 Billion) in this financial year according to the most recent government estimates. Decarbonisation, which requires higher-grade iron ore from countries such as Guinea and Brazil, puts this trade at risk for Australia. Green steel is metal that's...

HSBC, the British bank, joined major U.S. banks in leaving the climate coalition as the ambitions of some governments to achieve net zero dwindled. HSBC stated that while it acknowledged the role played in the development of guiding frameworks for banks to set emission-reduction goals by the Net Zero Banking Alliance (NZBA), the foundation had now been established and the bank decided to withdraw as it prepared to update its net zero transition plan. "We are resolutely committed to supporting our clients in achieving their transition goals and making progress toward our Net Zero by 2050 goal," said an HSBC...

Global stocks dropped on Friday as U.S. president Donald Trump escalated his tariff war against Canada. This left Europe in the firing lines, causing a modest investor rush to safe havens such as gold. Bitcoin also hit a record high. The Canadian dollar dropped after Trump sent a late-night letter on Thursday stating that a 35% duty rate would be applied to all imports coming from Canada starting August 1. He also stated that the European Union will receive a similar letter on Friday. The U.S. President, whose global tariff wave has disrupted businesses and policymaking, proposed a 15% or...

A senior Reliance Industries official stated on Friday that India must increase its petrochemical capacity to meet the local and global market demand, and to contain China's increasing dominance in the sector. The margins on petrochemicals have been shrinking around the globe as China's capacity growth has created an excess. Some refiners can produce petchems up to 40-50% of the total output, which is more than twice what India typically produces. India's petrochemical consumption for now is only a fraction of global average, but it is expected to increase as the nation's economy grows. Many analysts believe that India's economy...

Investors weighed the latest trade announcements by U.S. president Donald Trump on Thursday. The Brazilian real recovered from its losses after Trump announced a 50% tariff against goods from Brazil. Delta Air Lines, which helped Wall Street stocks rise 12% after forecasting profits for the third quarter and the full year above analyst's estimates, jumped. United Airlines and other travel stocks rose as well, with United Airlines up 15.3%. Trump confirmed late Wednesday that a 50% copper tariff will be implemented, with effect from August 1. The last time U.S. Copper prices rose on the day was late Wednesday. On...

It was announced on Tuesday that the Brazilian state of Piaui would issue carbon credits as a reward for actions taken to combat deforestation. This will give momentum to other regional initiatives to protect the country's forest. Brazil wants to keep its ambitions in reducing emissions, as it prepares for the next round of climate talks to be held in the Amazonian town of Belem this November. Piaui, unlike traditional forest protection plans proposed by private landowners and involving government and local communities, is focused on public sector efforts. These efforts cover a larger area and are aimed at avoiding...

A top climate official said in comments published by the Financial Times on Monday that the European Union will not sign a joint climate pledge with China during a summit to celebrate a half-century diplomatic relationship. EU climate targets are some of the most ambitious in the world, but have always been based on domestic emission reductions. The bloc has a deadline of mid-September to submit to the UN a new climate target for 2035. Officials from the EU said that Brussels refused Beijing's repeated demands for a climate agreement after the summit between the second and third largest economies...

A top climate official said in comments published by the Financial Times on Monday that the European Union will not sign a joint climate pledge with China during a summit to celebrate a half-century diplomatic relationship. EU climate targets are some of the most ambitious in the world, but have always been based on domestic emission reductions. It faces a deadline of mid-September to submit to the United Nations a new climate target for 2035. Officials from the EU said that Brussels refused Beijing's repeated demands for a climate agreement after the summit between the second and third largest economies...

Wayne Cole gives us a look at what the future holds for European and global markets. That's as unclear as mud. According to reports, the U.S. has set August 1 as the deadline by which higher tariffs on certain countries will be implemented if trade agreements are not made or in progress. There's no way to know which countries or deals are covered. Treasury Secretary Bessent said on CNN that President Trump will be sending letters to our trading partners telling them that if they don't make progress, then, on August 1, the tariffs will return to their April 2...

After OPEC+'s decision to increase crude oil production, two questions arise: Who will buy the extra crude and will they export the barrels that they claim to be producing? OPEC+ decided at a weekend gathering to increase production by 548,000 barrels a day (bpd). This is up from the 411,000 bpd that the group approved for May June and July and 138,000 bpd in April. Eight members of the group will boost production - Saudi Arabia (as well as Russia, Kuwait, Oman and Iraq), the United Arab Emirates (UAE), Kazakhstan, Algeria, Kuwait, Oman and Russia. The eight countries will have...

The oil price dropped more than 1% Monday, after OPEC+ surprised the markets by increasing output more than anticipated in August. This raised concerns about an oversupply. Brent crude futures dropped 80 cents or 1.2% to $67.50 per barrel at 0010 GMT. U.S. West Texas Intermediate Crude was $65.68, which is down $1.32 or 2%. The Organization of the Petroleum Exporting Countries (OPEC+) and its allies agreed to increase production in August by 548,000 barrels a day. Tim Evans, of Evans Energy, said in a report that "the increased production clearly represents an aggressive competition for market shares and some...