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US intelligence raises questions about Venezuelan leader's cooperation
Four people who are familiar with these reports in recent days have expressed doubts that interim Venezuelan president Delcy Rod will cooperate with Trump's administration by cutting off ties to U.S. enemies. Officials of the United States have publicly stated that they want Venezuela's interim president to cut ties with allies such as Iran, China, and Russia. They also want their diplomats and advisors expelled from Venezuela. Rodriguez, who was sworn in by the representatives of these countries at the beginning of this month, has not yet publicly announced such a decision. She was elected president on January 3 after the U.S. captured Venezuelan former President Nicolas Maduro. According to sources who refused to give their names, the U.S. Intelligence reports stated that it is not clear whether she fully supports the U.S. policy in her country. John Ratcliffe, the CIA director, visited Caracas on 15 January to discuss with Rodriguez the future of Venezuela's politics. It was not possible to determine whether the conversations had changed the opinion of intelligence agencies. Washington is trying to limit the influence of its enemies in the Western hemisphere. This includes Venezuela, where Trump wants to exploit Venezuela's vast oil reserves. Rodriguez's decision to cut ties with U.S. competitors would provide more opportunities for U.S. investors in Venezuela's energy industry. Failure to control Rodriguez would undermine Washington's attempts to influence the country's interim leaders from afar, and prevent a greater U.S. militaristic role. Both the Central Intelligence Agency (CIA) and Venezuela's government did not respond when asked for comments. A senior Trump administration official who refused to be named said that U.S. president Donald Trump "continues" to "exercise maximum leverage" on Venezuela's leaders, and "expects the cooperation to continue." Why abandon long-time allies? The CIA had previously determined that officials loyal Maduro were the best positioned for the country to be governed following his removal. This included Rodriguez. Critics of Trump's Venezuela policy have expressed doubts over the wisdom of retaining Maduro loyalists as interim leaders. Two sources said that the concerns about Rodriguez's reliability existed before the U.S. operation. The U.S. directive for Venezuela means that it is abandoning its closest friends outside of the region. Iran has assisted Venezuela in repairing oil refineries, while China has used oil to repay debts. Russia has provided Venezuelan military with weapons, including missiles. Trump also mentioned communist-led Cuba, as another U.S. enemy he wants Venezuelans to abandon. Havana provided intelligence and security support in exchange for Venezuelan oil at a discount. Rodriguez has been taking steps to "stay in Washington's good graces" since Maduro was removed. This includes releasing political prisoner and authorizing the sales of 30 to 50 million barrels oil to the United States. In a Sunday speech, Rodriguez stated that she had "enough of" U.S. interventions. According to two sources, U.S. officials also spoke positively with her in the past few days. Two sources stated that the Trump administration doesn't see any immediate alternatives to working with Rodriguez given its public support for her. A source familiar with Venezuelan policy revealed that U.S. officials have established contacts with senior military officials and security officials to ensure they can change their strategy if necessary. MACHADO IS CONSIDERED AS A LONGER TERM OPTION FOR VENEZUELA Sources said that the'recent intelligence reports' also revealed that Maria Corina Machado, the opposition leader, is currently not able to successfully run the country in part due to her lack of strong ties with the country’s security services and oil sector. Machado and his movement claim to have won the 2024 elections by a large margin. The state, however, backed Maduro. She remains popular among Venezuelans. Last week, Trump told reporters that he wanted Machado to be "involved" with the leadership of the country. He did not provide any details. A person familiar with discussions between the White House, and Machado, said that Machado is liked by the White House. She is also considered to be a long-term candidate for a leadership role in Venezuela. Separate source briefed about Venezuela policy indicated that Machado may be considered as a consultant for the time being, but that no decision has been made. Machado's representatives did not reply to a comment request. Reporting by Erin Banco and Jonathan Landay; Editing and design by Don Durfee, Cynthia Osterman
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Chinese buyers and seller expect gold rush will continue despite record price
Gold prices have reached new highs in the past week. Customers are rushing into shops that sell the precious metal. Some even bet the price will rise further. Gold?seller,?Zhao Jinhao, said Tuesday in a Shanghai jewellery mall that gold awareness has been a long-term and upward trend. It has risen steadily from just under 20 yuan in the 1980s, to over 1,000 yuan today. Gold prices reached $5,100 an ounce on monday after a surge of 62% in 2025. Central bank purchases to reduce their reliance on the U.S. Dollar and strong demand from buyers looking for a safe haven asset following the turbulent first year of Donald Trump's second presidential term are driving the record-breaking run. Analysts from Societe Generale stated on Monday that they expected gold to reach $6,000/oz before the end of the year. They said this was a conservative forecast because prices may well rise. Wang Qiuqin, a Shanghai resident aged 68 years old, appeared to agree. She said the "crazy rise" in prices prompted her to purchase gold at a local store. If this continues, gold will still go up. "I can accept the current gold price, so I decided to buy some." Simon Littmann of Swiss Investors Corporation Limited in Hong Kong said that business in January was the best he's ever done in his 20-year career. He said that this year will be very busy. However, we are having supply issues. He said that the supply of small bars of gold has been delayed because of high demand. Refineries are also rushing to increase production to meet the needs of retail. Demand is still affected by higher prices, even though many are not discouraged. China's central banks bought gold each month in the past year. Last year, the wholesale gold demand in China dropped 11% as higher prices and tax reforms weighed down on jewelry demand. Other people are cashing in on record prices. On Tuesday, dozens of people waited outside the Chong Kee Gold shop in Hong Kong’s central business district to buy and sell gold and silver. Some people had to queue for hours before they could enter the premises. They had their trinkets such as bracelets, necklaces and small statuettes weighed. It will certainly go higher. "The society is chaotic and unstable right now," said Cherry Tam. She sold some gold jewelry that was given to her at her wedding. "With the economy being so bad, I could get some money back to spend." Dick Liu (79), a gold craftsman with more than 50-years of experience in the industry, believes that the current uncertain economic climate will continue to fuel a boom in the sector, which he has never seen before. Gold will continue to rise, Trump, because of the way you are now. It will not fall. He's a crazy man, don't think so? (Reporting and writing by Lewis Jackson, Editing and Hugh Lawson; Additional reporting and writing by Nicoco Chan, Polina Devitt, and Nicoco Chan; Additional reporting and editing by Hugh Lawson; Lewis Jackson, and Polina devitt).
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Oil futures rise 3% per barrel after winter storm hits US production
On Tuesday, oil prices rose 3% as producers struggled to recover from a winterstorm that slowed crude production in the U.S. Gulf Coast crude exports were zero at the weekend. Brent crude futures closed at $67.57 per barrel, up $1.98 (or 3.02%). U.S. West Texas Intermediate Crude settled up $1.76, or 2.9% at $62.39 per barrel. Analysts and traders estimate that U.S. producers of oil lost up to two million barrels a day, or about 15% of the nation's production, over the weekend as a severe storm swept through the country, straining the energy infrastructure and power grids. Fawad Rasaqzada is a market analyst at City Index. He said that severe weather conditions have boosted crude prices, and short-term risks are tilted upwards on the fear of supply disruptions. The cold weather in the U.S. is likely to cause significant drawsdowns in oil stock over the next couple of weeks, especially if the weather continues, said Tamas Variga, an analyst for brokerage PVM. Ship tracking service Vortexa reported that exports of crude oil, liquefied gas and natural gas from U.S. Gulf Coast port ports fell to zero on Sunday amid frigid temperatures. As ports reopened on Monday, exports recovered with a flow above the seasonal norms, according to Samantha Santa Maria Hartke, head of market analysis for Vortexa. Two sources with knowledge of the situation said that Tengiz's largest oilfield in Kazakhstan is expected to recover from its fire and power failure slowly, and will likely only restore half of normal production on February 7. The oil market is tighter because the recovery of Tengiz seems to be slower than expected. Giovanni Staunovo at UBS said that the weaker U.S. Dollar was providing some support. The CPC, which operates Kazakhstan’s main exporting pipe, has said that it has returned to full capacity at its terminal at the Russian Black Sea Coast after maintenance was finished at one of its?mooring point. MIDEAST TENSIONS CONTINUE TO RISK SUPPLY. Two U.S. officials said on Monday that a U.S. aircraft carriers and accompanying warships had arrived in the Middle East. This would allow President Donald Trump to take military action, either against Iran or to defend U.S. troops. According to Razaqzada, City Index, "with Trump saying last Thursday that the U.S. had an 'armada" heading towards Iran, there are increasing geopolitical tensions, which is supporting oil prices in the short-term outlook. Dennis Kissler is senior vice president for trading at BOK. He said that tensions between Washington and Tehran, coupled with the lack of news about a peace agreement between Ukraine and Russia, are keeping crude prices low. OPEC+ will keep its pause in oil production increases for the month of March, according to three delegates from OPEC+. Reporting by Georgina Mccartney in Houston and Anna Hirtenstein in London. Jeslyn Leh contributed additional reporting from Singapore; Anushree Mukerjee contributed additional reporting from Bengaluru. Editing was done by Bernadette B. Baum and David Gregorio.
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As U.S. scrutiny increases, scandal tests Peru-China ties
The scandal involving the secret meetings of Peru's acting President with a Chinese Businessman has cast a negative light on Peru's key copper exporter, China's ties at a time when the U.S. Beijing's footprint is being closely examined in the region. Jose Jeri has denied wrongdoing for the three meetings with Zhihua Yan, a businessman, that he admitted to having between December and January. The businessman is the owner of Chinese import shops, and he holds a concession to build an energy project. In previous congressional investigations, he was also named as providing alleged logistical support to Chinese companies suspected of corruption. The controversy coincides with an intensified U.S. campaign to influence the region, aiming to curtail China's strong ties in Latin America. It wouldn't surprise me to see Trump's administration questioning China’s investment in Peru. It has done so in Mexico and Panama and could use pressure tools to push Peru away from China," Martin Cassinelli said, a trade analyst and Atlantic Council think-tank. Local media have dubbed the?case "Chifagate". Opposition lawmakers have filed impeachment proceedings to remove Jeri. He is responsible for completing the term of the current government until July. Jeri has been the subject of a preliminary investigation by the public prosecutor for alleged influence-peddling. He has denied this. On April 12, Peruvians are going to the polls in order to elect a president. Peru has had seven presidents in the last year, but has still enjoyed one of the highest growth rates in Latin America. This is thanks to mining income. Analysts said that Washington's recent capture and detention of Venezuelan President Nicolas Maduro - an ally?of China?and Russia?- sent a signal that it?aims to exclude extraregional powers from Western Hemisphere. This stance places additional pressures on governments such as Peru's, who are navigating internal crises. Jhon Valldiglesias, of the Center for Asian Studies of Peru's National University of San Marcos, said that criticizing a Chinese businessman was, in fact, a criticism of China. He added: "It definitely casts an shadow over all relationships with China." It won't be simple to break Peru's commercial ties with China. Signed in 2009, a free trade agreement propelled China overtaking the U.S. in 2015 as Peru's leading trading partner. Government data shows that China accounted for 33% percent of Peruvian trade through November of last year. China owns one of Peru's biggest copper mines, and it buys around 70% of its output. Chinese companies own Peru's biggest power generators and began operating Chancay Megaport in late 2024, opening a direct trade route between South America and Asia. Juan Carlos Capunay said that the economic relations between Peru and China are "perhaps the best organized administratively and political" in recent times. He said that the U.S. would find it difficult to demolish or weaken the free trade agreement with China. The Chifagate affair has brought to light some of the shadier aspects of this relationship. Cassinelli stated that "if Peruvians who have up to now viewed Chinese investment projects favorably, begin to doubt the credibility of those investments, new Chinese government contracts and investment will be less welcomed by a society that is sensitive to allegations about corruption and unfair favoritism of foreign companies." The Chinese embassy in Peru has not responded to our request for a comment. Datum Internacional, a polling firm, says that Jeri's support is eroding. Her approval rating has fallen from 51% to 40% since the scandal broke. According to an Ipsos survey conducted over the weekend, 78% of Peruvians believe that Jeri's meeting with the businessman was corrupt. Reporting by Marco Aquino; additional reporting by Cassandra Garrison, editing by Christian Plumb and Alistair Bell.
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Copper prices fall on the back of profit-taking, while tin reaches record highs
Investors booked profits on the recent rise in copper and waited for the next interest rate move by the Federal Reserve of the United States. Tin, meanwhile, reached a new record high. At 1700 GMT, the benchmark three-month copper price on London Metal Exchange was down?1.5% to $12,994.50 per metric ton. It reached $13,311 Monday, near the record high of $14,407 set on January 14. Traders said that the market has seen some profit-taking which led to a price drop. Ewa Mnthey, ING analyst, said: "Copper is still a hot commodity, and with prices so high, it's no surprise that some investors are locking in their gains." "However the overall backdrop hasn't changed much - inventories are tight and supply constraints persist." LME copper stock The number of tons in U.S. LME storage warehouses has increased by more than 11,000 tonne after the arrivals this month. The majority of exchange copper is stored in Comex warehouses . Before Wednesday's rate announcement in the United States, the dollar index fell to its lowest level in almost four years. The dollar index fell to its lowest level in nearly four years ahead of Wednesday's U.S. rate decision. Tin prices soared up to 7.6%, to $58,340 per ton. This was a rebound from the sharp drop in the previous session. By 1700 GMT, it was down to $54,780 and had gained 1.7% on the day. The traders said that the tin used in solder was likely following the precious metals rally. Tin has already gained over 35% this year. But the LME Cash contract last traded at a $185 per ton discount to 3-month tin The demand for metals in the near future is low. As spiraling power prices increase smelters costs, aluminium increased by 0.5% to $3.203 per ton. Zinc also rose 0.2% to $ 3,348.50. Nickel fell 2.1%, to $18,130 per ton. Lead was down by 0.8% to $2,021. (Reporting and editing by Emelia Sithole Matarise, David Goodman and Lewis Jackson)
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Venezuela's Oil Reform met with a flurry proposed changes
Sources close to the talks say that a commission of Venezuela's National Assembly received over 80 proposals from lawyers, politicians and energy associations seeking to change a reform?of the main oil law in the country. This is a blow to lawmakers who are rushing to approve the reform?next week. Interim President Delcy Rodriguez presented the proposed sweeping change earlier this month. She did so in response to a 50 million barrel oil supply agreement between Caracas, Venezuela and Washington. She encouraged lawmakers, in order for the country to boost production and encourage foreign investment, after 25 years strict nationalization. The reform is seen as essential by the partners of the state-owned company PDVSA, and new investors. However, lawyers and other experts have raised concerns about the contradictions in the legislation, the vague language and the loose regulation, and the need for changes to the related laws to give autonomy to private producers, and to reduce taxes and royalties. The National Assembly approved the reform in a first voting last week, and on Monday a period for?public comments began. The energy commission of the legislature must now finish a report on all suggestions before submitting an official text to be voted next week. Former government officials and opposition legislators have expressed concern about the limited time allotted to discuss reform, particularly since the proposed changes are complex and profound. Some of them have claimed that the reform, which includes a former oil ministry, is unconstitutional. Sources said that a portion of the criticism also came from?the ruling socialist party. Rodriguez, at an event held Monday at PDVSA headquarters in Caracas, said that a certain oil contract model, which was first introduced by Nicolas Maduro and used to negotiate with smaller producers over the past few years, would result in $1.4 billion?in investments this year. This is up from $900 millions last year. The reform includes the production-sharing model. Many oil executives and experts, however, believe that a more comprehensive reform is required to secure the $100 billion investment the U.S. president Donald Trump said Venezuela could receive following Washington's capture Maduro. Washington has said that it will relax sanctions against the country in order to encourage investments. Only a few licenses have been given to the trading houses that export Venezuelan oil, and U.S. firms, including Chevron, are still waiting for permission to expand their business. (Reporting and writing by Marianna Pararaga; editing by Alexandra Hudson).
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JSW suspends talks on restructuring with unions
The Polish coal miner JSW suspended important restructuring talks with unions on Tuesday, it said. This put a government-backed plan for rescue and vital funding into doubt, after what the company called a "significant" change in the unions’ stance. Why it's important JSW is unable to obtain the 3 billion zlotys (854 million dollars) of liquidity it requires for 2026. This puts the European Union's largest coking coal producer in financial danger as losses continue to mount. CONTEXT After media reports about comments made by Wlodzimierz?Czarzasty, a left-wing Polish politician and speaker of the lower house of the?Polish parliament? Czarzasty - who is also the leader The New Left - one of the parties in the current ruling coalition – called for the ruling alliance to discuss JSW’s “very difficult” situation on Tuesday, citing the "poor" management, according to the?Polish Press Agency. BACKGROUND State-controlled miner struggles with low demand, increased competition by cheaper imports and high operating costs. It reports a 7.24 billion Zloty net loss for 2024. The fragmented system of "dozens" of unions has historically complicated talks. What's Next? JSW announced that its management would be analyzing "alternative restructuring forms". The report said that the deal collapsed despite Grzegorz Werona, Deputy Minister of State Assets, having attended talks a day before. $1 = 3.5116 Zlotys (Reporting and editing by Matt Scuffham in Gdansk)
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Sheinbaum, Mexico's Sheinbaum, does not deny that oil shipment to Cuba has been halted
When asked on Tuesday if Mexico had stopped oil shipments to Cuba due to pressure from Washington, Mexican President Claudia Sheinbaum said that the decisions regarding the shipments were made by Mexico and not based on U.S. pressure. Sheinbaum, however, appeared to acknowledge the fact that Mexico had stopped a planned shipment for Cuba. Sheinbaum was asked at her morning press conference if she denied media reports that Mexico had stopped the shipment. She replied: "It's a sovereign decision, and it's made when necessary." Sheinbaum avoided a question on whether Mexico would resume oil deliveries to Cuba by saying: "In any case, this will be reported." Bloomberg was the first to report the suspension of oil shipment. Exclusively reported last week, the Mexican government was evaluating whether to continue sending oil to Cuba amidst growing fears in Sheinbaum's Administration that Mexico might face reprisals by the United States over this policy. Mexico's oil exports to Cuba are under scrutiny after U.S. President Donald Trump pledged to stop the flow from Venezuela of oil and money to Cuba in the wake of the capture of Venezuelan president Nicolas Maduro on Jan. 3, by U.S. Special Forces. According to internal documents and shipping data from the state-owned company PDVSA?cargoes were falling off because of a U.S. ban even before Maduro was captured. Mexico was the island's second largest supplier in 2025 with 5,000 barrels of oil per day. Pemex shipments are now the only lifeline available to the island, as Venezuela is no longer online. Mexico's state-owned oil company Pemex has exported to Cuba 17,200 barrels per day of crude and 2,020 barrels per day of petroleum products in the nine months ending September. Sheinbaum said that Mexico's decision to give or sell oil to Cuba has a?long history and is influenced by economic blockade of the island nation. Sheinbaum explained that "the decision as to when and how (oil is) sent is a sovereign one, and is made by (Mexican State Oil Company) Pemex, based on contracts, or, in any event, by the Government, who decides it's humanitarian to send oil under certain conditions." (Reporting and editing by Emily Green; Additional reporting provided by Mexico City Newsroom)
Mutual aid networks are growing as Trump cuts disaster response.
In November, the Trump panel will offer reform recommendations
The cities would struggle to replace federal funds
Mutual aid networks report a growing response.
By Carey L. Biron
Her neighbors were also in the same situation - if there were any doors left over after the storm of September 2017, which caused 3,000 deaths and $115 billion worth of damage.
Aviles-Vazquez stated that it felt like residents of the U.S. island territory were all alone, but they also had each other.
She said, "I could hate the neighbor but we couldn't get through this if we didn’t help one another."
Over the next few months, residents built mutual assistance networks and cleared roads, checked up on distant neighbors, and stabilised homes.
It became a chain, said Aviles-Vazquez. He is the founder of Agroecology Institut, which empowers farmers.
As climate change impacts have increased, hyperlocal responses and preparedness for natural disasters has gained more attention.
Now that President Donald Trump is looking to reduce the federal government's role in disaster preparation and response, the focus has increased even further.
In his first few days as president, Trump published a critical review of the Federal Emergency Management Agency. A panel will make recommendations for reforms by November.
Experts are worried that the panel may raise the threshold for requesting assistance or eliminate the agency altogether.
FEMA employees warned last month that the cuts were already having "cascading" effects on their agency's response capabilities.
Abigail Jackson, White House spokesperson, said in an email the FEMA's over-sized role had "created a bureaucratic bloat that disincentivised state investment in resilience."
She wrote that Trump wants to empower the "state and local government by enabling them better understand and plan for their citizens' needs, and finally address those needs."
"PERIOD of Uncertainty"
FEMA's purpose today is in large part a result of Hurricane Katrina, which was the most devastating natural disaster to hit the United States, and when the government response was criticized as being too slow. Sara McTarnaghan co-leads the work on climate change and communities at the Urban Institute.
She said that FEMA is now focusing on encouraging local communities to develop pre-disaster preparedness, especially in poorer areas.
She said that the future is uncertain.
"I have a lot of sympathy for the emergency planners at state and local levels. McTarnaghan stated that we are in an uncertain period and it is not clear yet what responsibilities will be required.
McTarnaghan, her colleagues and themselves found that the Trump administration's proposed changes - like halting federal aid for snowstorms- would result in more than 70% disasters no longer receiving presidential emergency declarations.
SBP, an organization that assists communities in recovering from disasters and helps them identify their priorities, develop plans, and raise money, works with local governments across nine states.
Reese May is the chief strategy and innovation office at SBP. She said that many Americans live in small and medium-sized towns where disasters are a possibility. However, their government has limited resources and cannot go to these communities to get information on their risks.
'LIKE WILDFIRE'
Local and volunteer groups report a surge in interest and demand for their services.
Team Rubicon was formed to aid in Haiti after the 2010 earthquake. It has grown from just a few volunteers to over 200,000 today.
Jeff Byard is the senior vice president for operations. "We do lots of hard, physical labor - repairing homes, removing debris," he said. "We want be the last ones out and first ones in."
Byard stated that Rubicon has increased its local work to prepare for funding and capacity gaps in the wake of federal reforms.
KD Chavez is the executive director of Climate Justice Alliance. This national network, which includes about 100 organizations, has said that communities are becoming more organized and recruiting volunteers as a result of natural disasters.
The alliance has developed a "brigade model" to receive disaster warnings directly from the field, and then respond with a surge of resources.
Chavez stated that "one of the deepest benefits of the Alliance is that we mobilize a lot of people on the ground when we're in the waiting period."
Organizers of another national group, Mutual Aid Disaster Relief say that its decentralized community response network includes hundreds of people who are in communication channels and working groups, and thousands of general volunteers.
It has also supported pop-up clinics and community air filter programs.
Devin Ceartas is an organizer with Triangle Mutual Aid in North Carolina, who participated in the Hurricane Helene response last year.
He said that mutual aid spreads like wildfire when people are passionate about it. It's a magical thing. "People truly come alive."
He said that Triangle Mutual Aid saw a surge in interest, with 500 new volunteers joining the organization after new floods hit the state in late July.
Ceartas hopes to take advantage of the momentum and make preparations, such as building crews or getting licensed to operate radio communication equipment.
Ceartas stated that "there's nothing FEMA can provide that's not already available and that people couldn't give each other."
(source: Reuters)