Latest News
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Oil prices rise after biggest annual decline since 2020
The oil prices rose on the first trading day in 2026, after they had suffered their worst annual decline since 2020 last year. This was due to Ukrainian 'drones' targeting Russian oil installations and a U.S. blockade that impacted Venezuelan exports. Brent crude futures rose 14 cents to $60.99 per barrel on Friday by 1:46 GMT. U.S. West Texas intermediate crude crude was up 14 cents at $57.56 per barrel. Russia and Ukraine traded accusations of attacks on civilians New Year's Day, despite intensive talks overseen?by U.S. president?Donald Trump aimed at ending the nearly four-year old?war. In recent months, Kyiv has intensified its strikes against Russian energy infrastructure to cut off Moscow’s sources of financing for the military campaign in Ukraine. Washington imposed sanctions Wednesday on four oil tankers and companies that it claimed were involved in Venezuela's oil industry. The U.S. Blockade is designed to prevent sanctioned oil tankers from entering Venezuela or leaving the country. This has forced PDVSA, Venezuela's state-owned energy company, to take extreme measures to avoid closing down refineries as fuel inventories increase. Brent and WTI benchmarks experienced annual losses of almost?20% in 2025. This was the largest since 2020 as concerns over supply and tariffs trumped geopolitical risk. Brent lost money for the third consecutive year, which is the longest streak in history. According to the Energy Information Administration, Wednesday, the United States' oil production reached a record of 13.87 million barrels a day in October. The EIA reported that last week, crude stocks dropped while gasoline and distillate inventory rose due to a robust refining industry. Reporting by Florence Tan, Editing by Tom Hogue
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Nickel Industries Australia says South Korea's Sphere will buy 10% of the Indonesian project
Nickel 'Industries, Australia's Nickel?Industries, announced on Friday that South Korea's 'Sphere Corp' will purchase a '10% stake' in the Excelsior Nickel Cobalt High-Pressure Acid Leach Plant (HPAL) Project in Indonesia for $2.4 billion. Nickel Industries, an Australian company, said that the South Korean materials manufacturer would acquire the stake in the project from Hong Kong's?Decent Resource. Nickel Industries, however, will keep its 44% stake in the project. Sphere, a supplier of special alloys to Elon Musk's SpaceX, has agreed to sell its 10% share of nickel as cathode. It also entered into a contract for the sale of additional volumes at market prices above 10%. According to Nickel Industries, the ENC HPAL Project, which is being built in Indonesia’s Central Sulawesi will be the first HPAL project with the ability to produce three Class-1 Nickel?products: mixed hydroxide?precipitate (MHP), Nickel sulphate, and Nickel cathode. The deal is made at a time when nickel prices are soaring, as Indonesia plans to reduce its mining output quotas in order to boost commodity prices. Nickel?Industries anticipates that funding will be completed in the first quarter 2026. Nichiket Sunil reported from Bengaluru, and Chris Reese edited the story.
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Three dead, seven missing after New Year's Eve attack in Peru on informal miners
A?local?mayor announced on Thursday that at least three people had been killed and seven more missing following a New Years Eve attack on informal gold miners. This was the latest in a series attacks against small-scale miners of the Andean nation. Aldo Marino, the mayor of Pataz, told local TV that the attack occurred in a city in northern La Libertad. In 'May of last year, police reported that 13 miners were killed in the same area as criminal gangs tried to gain control. Marino, who spoke to Canal N on the subject, said that he had received information from police indicating three people died in a mine entry, and seven others are still missing. He added that reports from other people living nearby suggested a higher death toll. The attack was not confirmed by the police and no government officials could be reached for comment. Pataz is now the main gold producing area in Peru, thanks to small-scale informal or artisan mines that operate under temporary government permits called REINFO. Illegal miners, who are said to be stealing the output of other miners in collaboration with criminal gangs according to sources from police and industry, exploit thousands of permits. The Peruvian government extended REINFO permits by one year in December, marking the fifth extension in the last decade. In July, it kicked out over 50,000 small scale miners, or more than half of them, and kept just over 30,000 to go through a formalization procedure. In 2024, Peru exported gold worth $15.5 billion. This is a dramatic increase from the $11 billion recorded in 2018. According to local industry estimates and the country's financial regulator, about 40% of gold in Peru is illegal. Reporting by Marco Aquino, Editing by Ros Russel and Nick Zieminski
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Two people are killed in fireworks accidents in the Netherlands. A historic Amsterdam church is destroyed by fire.
In the Netherlands, two people were killed by fireworks and there was a "scattered" outbreak of violence during the New Year celebrations. A historic church in Amsterdam also caught fire. In the Netherlands, people set off fireworks to celebrate New Year's Eve. This causes thousands of injuries every year and damages of millions of Euros. Police said that this year 250 people were arrested on New Year's Eve, and riot police in various towns were deployed. The impact of the heavy fireworks and arson on New Year's Eve was devastating in some areas. "The targeted violence against the?emergency service and?police were intense again," said police in a Thursday statement. Police reported that fireworks accidents had killed a man aged 38 in Aalsmeer (near Amsterdam) and a boy in Nijmegen in the east. A fire in Amsterdam's Vondelpark destroyed the neogothic Vondelkerk. The fire started shortly after midnight. Amsterdam's police and fire departments said that they were investigating the cause of the fire in the 1872-built?church and have not yet made any comments. The ban on fireworks sales to consumers nationwide will be in effect by 2025. Years ago, emergency room doctors, local and national politicians, and police and firefighters have been campaigning for the ban. (Reporting by Stephanie van den Berg Editing by Frances Kerry)
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Petroperu, the state-owned company in Peru, is now open to private investors after a reorganization
Late Wednesday, Peru issued an urgent decree approving the restructuring of?state owned oil firm Petroperu and allowing private investments in key company assets. According to the decree signed by?Peruvian President Jose Jeri, the company may be divided into one or several asset blocks. This includes the Talara refinery which the company has spent $6.5 billion upgrading. Petroperu also operates or has concessions on six crude oil blocks that have limited production. It has a fuel marketing and distribution chain. The Peruvian ministry of energy and mines stated that the decree is intended to "?ensure compliance with financial obligations through the technical management of their assets, laying a foundation for Petroperu's self-sustainability." The ministry stated that the company's "situation is particularly sensitive" with losses accumulating to $479 million between January and 2025 and debts to vendors of $764 millions through December. This is in addition to the $774 million reported losses last year. The company's financial problems are partly due to the debt from the Talara refinery upgrade, which cost more than double the original estimate. This led to the company losing its investment grade rating in 2022. Petroperu has received government financing totaling $5.3 billion from 2022 to 2024. (Reporter Marco Aquino, Editing by Alexander Villegas & Nick Zieminski).
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Ukraine condemns Russian New Year drone attack on power Infrastructure
Volodymyr Zelenskiy, the President of Ukraine, said that a Russian drone had damaged power infrastructure overnight in several Ukrainian regions. Meanwhile, Moscow accused Ukraine of a "deadly" new year's attack on a part of Ukraine under Russian control. "Russia deliberately starts war on the New Year. Zelenskiy posted on Telegram that "over 200 drones attacked Ukraine during the night." Zelenskiy stated that energy infrastructure in seven different regions of Ukraine was targeted. Russia has accused Ukraine of killing 24 people in a drone attack on a cafe and hotel where civilians were celebrating the New Year. The strike took place in an area of southern Kherson controlled by Russia. The Ukrainian military did not respond immediately to a question about Moscow's accusations. Zelenskiy stated that Russia's "holiday season" attacks demonstrated Ukraine could not afford delays in its air defence supply. "(Our) Allies have names of equipment that we lack. "We expect everything that was agreed upon with the United States for our defense at the end December will arrive on schedule," he stated, without elaborating. Zelenskiy has met with President Donald Trump in Florida on Sunday to negotiate a peace framework that will end the nearly four-year war. Donald Trump met with Zelenskiy in Florida, on Sunday, to discuss a framework for peace to end the almost four-year conflict. Both leaders have said that they are close in reaching an agreement. However, there remain thorny questions regarding the post-war control of territories. Ukrainian energy minister said that a "significant" number of households in Volyn, Odesa, and Chernihiv regions, located in western and southwest Ukraine respectively, were cut off from electricity by the overnight strikes. Volant's governor said that more than 103,000 households had lost electricity as a direct result of the attack. The Volyn region lies several hundred kilometers from the frontline and borders NATO-member Poland. (Reporting and editing by Gareth Jones, Ros Russell and Max Hunder)
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Police: Dozens of people are feared dead following explosion at Swiss ski resort bar
Swiss police said that dozens of people were feared to be 'killed' and 100 others injured after an explosion tore into a packed bar during a party on New Year’s Eve in the upscale resort of Crans-Montana, located in southwest Switzerland. The police had previously said that many people were being treated for injuries. A police spokesperson confirmed that more than 100 people were in the bar when the explosion occurred. Fire broke out in the early hours of the morning in Crans-Montana at "Le Constellation", where police, fire brigade, and rescue services had been deployed to help victims. Police said in a statement that the area was completely?closed and a no fly zone had been declared over Crans-Montana. They added that the cause of the explosion remained unknown.
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Israel: Forces open fire on West Bank Stone-Throwers, One Dead
Israeli military claimed that its forces shot and killed a Palestinian in the early hours of Thursday morning as they opened fire on people throwing stones at soldiers. The military statement added that two other people were also hit by gunfire on a major road near the village of Luban al-Sharqiya, in Nablus. The statement described the individuals as militants and said that the stone-throwing attack was part of a planned ambush. Palestinian authorities in the West Bank reported that a 26-year old man named Khattab Al-Sarhan had been killed, and another victim was also injured. The official news agency of the Palestinian Authority, WAFA, reported that Israeli forces closed the main entry to Luban al-Sharqiya village in Nablus and blocked many secondary roads. The U.N. reported that more than 1,000 Palestinians were killed between October 2023 - 'October 2025 in the West Bank, mostly as a result of 'operations carried out by security forces, and in some cases by settler violence. In the same time period, 57 Israelis died in Palestinian attacks. (Reporting and writing by Ali Sawafta; Editing by Andrew Heavens).
Stocks find growth worries as United States tasks information considered
Asian shares and U.S. Treasury yields slid while the Swiss franc and yen rose on security bids on Friday after weakerthanexpected U.S. factory information triggered worries of a getting worse financial outlook.
Japan's Nikkei was meanwhile headed for its worst day in over 4 years, tracking a slide on Wall Street and weighed down by a surging yen, in addition to uncertainty over how high domestic interest rates might increase.
A step of U.S. manufacturing activity dropped to an eight-month low in July in the middle of a downturn in brand-new orders, information on Thursday revealed, coming just after separate figures revealed the variety of Americans submitting brand-new applications for unemployment advantages increased to an 11-month high recently.
The weak ISM manufacturing report in specific alarmed financiers, sparking broad risk-off moves throughout markets even after the U.S. Federal Reserve had previously in the week indicated a rate cut might come as soon as September.
Geopolitical tension also weighed on sentiment, after the Israeli armed force said on Thursday that the head of Hamas' military wing, Mohammed Deif, was eliminated in an Israeli airstrike in Gaza last month. The remarks came a day after the group's. politician Ismail Haniyeh was eliminated in Tehran.
At the minute ... if there's any indications of weak point, then. the market will grasp them. It's searching for bad news, said Rob. Carnell, ING's local head of research for Asia-Pacific.
MSCI's broadest index of Asia-Pacific shares outside. Japan dropped 0.8% in early Asia trade, tracking. a sharp selloff on Wall Street.
U.S. stock futures also extended their declines, with Nasdaq. futures toppling 1.5% while S&P 500 futures fell. 0.9%.
EUROSTOXX 50 futures similarly moved 0.9% and. FTSE futures edged 0.12% lower.
It has actually been gloomy for 2 years in the manufacturing. sector, but (the) ISM report reveals that different measures of. activity have sunk to levels not seen since the initial arrival. of the pandemic, said economic experts at Wells Fargo.
The majority of unpleasant is that this suffering comes without the. merit of lower prices.
In Asia, Japan's Nikkei suffered heavy losses,. tumbling more than 5% to fall listed below the 37,000 level for the. very first time considering that April.
It was last 4.89% lower, on track for its steepest daily. fall since March 2020.
The Nikkei's decline has actually largely begun the back of sharp. yen gains after the Bank of Japan (BOJ) on Wednesday raised. rates of interest to levels unseen in 15 years and unveiled a. in-depth plan to slow its massive bond purchasing.
The yen was last 0.2% lower at 149.65 per dollar,. though remained pinned near an over four-month high.
It was eyeing a 2.8% rise for the week, with gains in the. Japanese currency even more exacerbated by security flows on Friday.
The Swiss franc also got a lift from the. risk-off state of mind and rose to its greatest level given that early. February at 0.8720 per dollar.
Sterling fell 0.09% to $1.2723, after the Bank of. England cut rate of interest from a 16-year high on Thursday.
Also reflecting financier worries about a U.S. financial. slowdown, the 10-year Treasury yield was up to a. six-month low of 3.9440% in early Asia trade, as investors. poured into the safe haven bonds.
Bond yields move inversely to rates.
The two-year yield, which usually shows. near-term rate expectations, slumped to its least expensive because May. 2023 of 4.1090%, and was last at 4.1338%.
Futures now indicate a roughly 29% possibility of a. 50-basis-point cut from the Fed in September.
Focus now turns to the carefully watched U.S. nonfarm payrolls. report later on Friday for more hints on the health of the. labour market and the more comprehensive economy.
Clearly, all the focus now falls on U.S. nonfarm payrolls. in the session ahead and Asia-based equity traders will be. highly cognizant that they will have to hold positions through. the U.S. session with the danger of gapping risk on the Monday. open, said Chris Weston, head of research at Pepperstone.
With the marketplace firmly relocating to a mantra that bad news is. problem for risky assets and sentiment, where swaps are pricing. a component of more emergency situation cuts, poor U.S. job numbers will. not be digested well at all.
In commodities, oil rates edged higher on Friday though. were set for a 4th weekly decrease as indications of disappointing. worldwide fuel demand growth exceeded worries of supply disturbance. in the crucial Middle East production region.
Brent was last up 0.5% to $79.92 a barrel, while. U.S. crude rose 0.54% to $76.72 per barrel.
Spot gold firmed 0.45% to $2,456.19 an ounce.
(source: Reuters)