Energy Markets

Energy Department of the United States announced on Monday that it would award orders totaling $2.7 Billion to three 'companies for boosting domestic uranium enrichment over the next 10 years. This is part of a larger effort to reduce U.S. dependency on Russian supply. The orders were placed with American Centrifuge Operating General Matter, Orano Federal Services and General Matter, according to a department statement. The contracts will require that the companies meet certain milestones in order to provide enrichment for low-enriched?uranium or high-assay, low-enriched Uranium (HALEU) for existing nuclear power plant and new, smaller modular reactors. Chris Wright, Secretary...

On Monday, major?stock indices rose and oil prices rose. Energy shares climbed and investors were largely calm about potential market ramifications following a U.S. strike that captured Venezuelan President Nicolas Maduro. Early in the morning, Dow Jones Industrial Average reached a new record high. S&P 500's energy index rose more than 2 percent, with Exxon Mobil shares up over 2 percent and Chevron shares up over 5 percent. Financial shares rose as well, and an S&P defense index was up over 1%. Donald Trump, the U.S. president, said that after the dramatic events in Venezuela at the weekend he would...

Phillips 66, a U.S.-based refiner, announced on Monday that it had?agreed? to purchase the assets and infrastructure from the Lindsey Oil Refinery located in northern?England after the site was liquidated. It will also integrate the key facilities with its Humber?Refinery. The Lindsey Refinery closed last July after the previous owner Prax went bankrupt, putting 420 jobs on the site in danger. Phillips 66 did not reveal the value of the deal, but said that it decided to not restart standalone operations in the refinery after a thorough review during the bid process. The site, they stated, was 'unviable as is,...

Phillips 66 announced on Monday that it has agreed to purchase the assets - and infrastructure - of the Lindsey Oil Refinery, located in northern England, after the site was liquidated. It will then 'integrate' the key facilities within its Humber Refinery. After a thorough review of the bid process, the U.S. refiner announced that it would not restart standalone operations in the British refinery due to the site's size, capabilities and facilities. Phillips stated that the Humber Refinery Complex will integrate storage and infrastructure assets from Lindsey, which will improve supply flexibility, as well as support both traditional?and alternative...

Nicolas Maduro, the ousted Venezuelan president, is scheduled to appear at Manhattan federal court Monday to face narcoterrorism charges. His capture by U.S. forces has sparked uncertainty over the future of the oil-rich South American country. Maduro and his wife Cilia Flores were arrested in Brooklyn by U.S. troops after they were seized from Caracas during a surprise weekend raid. Both are expected to appear before U.S. district judge Alvin K. Hellerstein at 12:00 noon EST (1700 GMT) for the hearing. It's unclear whether either of them has hired a lawyer or will enter a plea. Since Maduro declared victory...

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. The dramatic weekend that saw U.S. forces capture Venezuelan President Nicolas Maduro has caused the oil market to be roiled as the first full trading week of 2019 begins, even though the global stock markets appear to have ignored geopolitical risk for the moment. Brent crude futures fluctuated between gains and losses, but ended the day at $60.49. Traders are assessing the impact of the U.S. military attack on Venezuela, the country with the largest reserves of oil in the world, on global...

The United States President Donald Trump has left open the possibility of a second incursion in Venezuela if it doesn't get what it wants from the interim leader. Trump told reporters that he would order another strike against Venezuela if it did not cooperate with the United States. The U.S. is working to help Venezuela open its oil industry and end drug trafficking. He also warned of military action against Colombia and Mexico, and said that Cuba's communist government "looked like it was ready to fall on its own." The Colombian Embassy in Washington and the Mexican Embassy in Washington...

The interim Venezuelan government, led by Nicolas Maduro, was to appear before a U.S. Court on Monday following his capture over the weekend by American forces. U.S. president Donald Trump left open the possibility of a second incursion in the event that the United States did not get what it wanted from Venezuela. Trump said to reporters on Sunday that he would order another strike against Venezuela if it did not cooperate with U.S. efforts in opening up its oil industry and stopping drug trafficking. He also threatened to take military action against Colombia and Mexico, and said that Cuba's...

Global investors face a new surge in geopolitical risks after the U.S. captured Venezuelan President Nicolas Maduro. This could unlock Venezuela's vast oil reserve and boost risky investments over the long-term, but it may also prompt a flight to security when trading resumes. Donald Trump announced that the U.S. will take control of Venezuela, an oil-producing nation. Maduro was detained in New York on Sunday, while he awaited charges. The U.S. accuses him of running a 'narco state' and of rigging the elections. Washington hasn't made a direct intervention like this in Latin America since 1989, when it invaded Panama....

Donald Trump praised the capture of Venezuelan President Nicolas Maduro as "stunning and powerful". But it is unclear who will be running this oil-rich nation. Trump claimed on Saturday that Delcy Rodrguez, a member of a powerful cabal that controls the government of Venezuela, was sworn in following Maduro's detention. He also said that she had spoken to U.S. secretary of state Marco Rubio. This led to speculations that she might take over. In Venezuela, Rodriguez is deemed the 'acting President' in Maduro’s absence. The country's highest court has ordered that she assume this role on Saturday evening. Rodriguez, flanked...

Donald Trump praised the capture of Venezuelan President Nicolas Maduro as "stunning and powerful". But it is unclear who will be running this oil-rich nation. Trump claimed on Saturday that Vice President Delcy Rodrguez, a member of the cabal that controls the government in Venezuela, was sworn into office after Maduro’s arrest. He also said that she had spoken to U.S. secretary of state Marco Rubio and that this led to speculations that she would be taking the reins. According to Venezuela's constitution Rodriguez will assume the role of acting president in the absence of Maduro. The country's highest court...

After months of accusing Maduro of drug trafficking and illegitimacy, the United States announced that it had attacked Venezuela on Saturday and captured its longtime President Nicolas Maduro, marking a 'dramatic escalation of geopolitical pressures. Donald Trump stated in a Truth Social posting that the United States of America had successfully conducted a large-scale attack against Venezuela and its leader, Nicolas Maduro. He was captured, along with his spouse, and flown out of the country. Washington hasn't made a similar direct intervention in Latin America in the past 25 years, since it invaded Panama in 1989 in order to remove...

Oil prices dropped on Tuesday, as traders assessed the possibility of increased Venezuelan crude production following the capture by the U.S. of President Nicolas Maduro. This added to expectations that global supplies would be ample this year due to weak demand. Brent crude futures fell by 0.2% at $61.62 per barrel as of 0103 GMT, while U.S. West Texas Intermediate crude crude dropped 0.3% to $58.15 per barrel. Ed Meir, Marex analyst, said: "I believe that if even a small part of the Trump playbook comes true, Venezuelan crude production should increase... If it increases, this will put more pressure...

Barry Pollack, the Washington lawyer that'represented WikiLeaks founder Julian Assange' will defend the toppled Venezuelan President Nicolas Maduro. The case could test the immunity claims of foreign leaders as well as the legality of his capture. Pollack appeared alongside Maduro in Manhattan federal court on Monday, where he pleaded no guilt days after Maduro was captured along with his wife in an U.S. Military raid. Assange's case gave Pollack an insight into cases rife with global intrigue, and the consequences they can have on America's reputation in the world. The case was a test of whether U.S. laws could criminalize...

Here are some key facts about Venezuela's oil and mining sector, after the capture of President Nicolas Maduro by U.S. troops on Saturday. RESERVES Official data show that Venezuela may have the largest oil reserves in the world, but its crude production is only a fraction of what it could be due to years of mismanagement, a lack of investment, and sanctions. According to the Energy Institute in London, Venezuela has about 17% of the global?reserves (303 billion barrels), ahead of Saudi Arabia as the leader of the Organization of Petroleum Exporting Countries. According to the U.S. Department of Energy,...

Neel Kahkari, Minneapolis Federal Reserve president, said that the main threat to the U.S. economic system from the Trump administration's capture over the weekend of Venezuela's President would be a rise in oil prices. However, this does not seem to have happened yet. Kashkari stated in an interview with CNBC that the risk comes "mostly from?oil price fluctuations". "When 'Russia' invaded Ukraine it sent a commodity shiver all over the world. Hamas's attack on Israel was not the same. The U.S., Venezuela and other countries are not involved in this conflict. "But that is the mechanism which... directly affects the...

Investors bet on President Donald Trump's decision to take action against Venezuela's government, believing that it would give American companies greater access the world's largest oil reserve. Shares of Chevron - the only U.S.'major' currently operating in Venezuelan oil fields - climbed 7.3%. Meanwhile, refiners Phillips 66 and Marathon Petroleum, Valero Energy, PBF Energy, and Valero Energy all saw gains between 5% to 16%. After President Nicolas Maduro was arrested, Trump stated that the U.S. required "total" access to Venezuela's vast reserves of oil. This heightened expectations in Washington regarding the possibility of easing restrictions on Venezuelan crude exports. Trump...

Five dealers report that India's palm oils imports dropped to an 8-month low in the month of December. This was due to a weaker winter season and refiners increasing their purchases of competing oils like soyoil or sunflower oil. Reduced palm oil imports by?India, which is the world's biggest buyer of vegetable oil, could increase inventories in top producing countries Indonesia and Malaysia. This would weigh on benchmark Malaysian Palm Oil Futures while supporting U.S. Soyoil Futures. According to dealers, palm oil imports dropped 20% in December, to 507,000 tons, the lowest level since April 2025. Dealer estimates show that...

Investors warn that the geopolitical risk may be underestimated by markets after Donald Trump threatened to take further action in America. After President Trump announced that the U.S. will take over the oil-producing nation, investors held their nerve, despite oil prices falling modestly. Gold prices rose, however, due to safe-haven flows. Trump's threats towards Colombia and Mexico, while Washington hasn't made such an aggressive intervention in Latin America since 1989 when it invaded Panama, highlighted the aggressive change in U.S. policies and brought geopolitical risks to the forefront for financial markets in the beginning of the year. Vishnu Varathan is...

The capture by the U.S. of Venezuelan president Nicolas Maduro has triggered a new surge in geopolitical risks, but initial market reactions have been relatively calm with oil volatile and gold rising on safe-haven flows. The dollar rose on Monday, while stocks rose. Here are some comments by market analysts DAVID CHAO, GLOBAL MARKET STRATEGIST FOR ASIA-PACIFIC, INVESCO, SINGAPORE The weekend's events are unlikely to have a significant impact on the global macro-conditions or markets in the near future, due to Venezuela's relative minor role today's energy landscape. This is why oil prices have not moved significantly, nor has the...

The global investors face a new surge in geopolitical risks after the U.S. captured Venezuelan President Nicolas Maduro. However, initial market reactions have been relatively calm with oil volatile and safe haven flows lifting gold. On Monday, stocks rose on the back of tech and defence sectors. The dollar also advanced. Here are some comments from market analysts. VISHNU VARATHAN HEAD OF MACRO RESEARCH ASIA EXJAPAN MIZUHO SINGAPORE "We're reminded that?geopolitical risk is much greater than a number cast on imported goods. "The sanctions against Venezuela and its exceptional dependence on oil exports... means that the Venezuelan regime change impact...

Many supporters of U.S. president Donald Trump have praised the capture and detention of Venezuelan leader Nicolas Maduro, describing it as a quick, painless victory. However, political analysts warn that support may wane if "the operation drags out" or echoes previous foreign interventions. Despite a few conservative figures criticizing the attack on Venezuela, and the detention of Maduro, as a betrayal to Trump's pledge "America First", most of Trump's Republican allies sided with him. Early support was given even though Trump had said that the United States temporarily "run" Venezuela, and would?work to?tap into its oil reserves. This raised the...

Here are some key facts about Venezuela's oil and mining sector. According to U.S. president Donald Trump, the U.S. captured President Nicolas Maduro on Saturday. RESERVES Official data show that Venezuela may have the largest oil reserves in the world, but its crude production is only a fraction of what it could be due to years of mismanagement, a lack of investment, and sanctions. According to the London-based Energy Institute, Venezuela holds about 17% of the global reserves, or 303 billion barils, ahead of the Organization of Petroleum Exporting Countries leader Saudi Arabia. According to the U.S. Department of Energy,...

Delcy Rodriguez is a Venezuelan politician who wields an iron fist. She is a proponent of economic orthodoxy, has worked to establish relationships with the private sector, and is well-known for her taste in luxury. In her more than 10 years in public life, Rodriguez, 56, has accumulated significant influence. Maduro called her "a tigress" because of her staunch support of his socialist regime, which presided over an economic crisis and exodus of 8 million migrants. She was vice president from 2018 onwards, having served simultaneously as finance minister then oil minister. She was previously a communications minister, a foreign?minister,...