Europe








Energy Markets

Crude Oil

Fossil Fuels

Stocks in the world are falling as a tech sell-off drags down markets

The global equity markets fell on Friday as investors continued to take profits from?highly-flying tech and chip stocks. Meanwhile, crude oil prices plummeted as more tankers left Strait of Hormuz. Wall Street saw all three indexes trading lower, with choppy trading, as losses in energy, industrials and technology offset gains in healthcare stocks and real estate. The Dow Jones was on course for a gain, while the S&P 500 and Nasdaq are headed for weekly losses. The chip stocks fell 5% for a loss of 7.7% per week, the biggest weekly drop since March. The Dow Jones Industrial Average dropped...

Oil & Gas Refining

Oil prices down 2% despite resumption in Hormuz shippings, even after vessel hits near Oman

Crude prices fell?2% Friday, and are headed for steep weekly losses amid eased supply concerns. More oil tankers have left the Strait of Hormuz as more stranded vessels leave. Brent crude futures dropped $1.47 or 1.95% to $73.79 per barrel at 0421 GMT. U.S. West Texas Intermediate was down $1.44 or 2% to $70.48 per barrel. Shipping data from LSEG revealed that Saudi Aramco, the world's largest refiner, resumed oil loading at its Ras-Tanura terminal in?Gulf on Friday after a nearly four-month halt. The data revealed that two Very Large Crude Carrier were loading crude at the terminal, while another...

Oil & Gas

Oil prices fall amid the resumption in shipments through the strait, despite a vessel collision near Oman

The oil prices dropped on Friday morning, and are headed for steep losses this week amid easing supply concerns. More oil tankers have left the Strait of Hormuz as stranded vessels leave. Brent crude futures dropped 19 cents or 0.25% to $75.07 per barrel at 0055 GMT. U.S. West Texas Intermediate was down 13 cents or 0.18% to $71.79 per barrel. The benchmark contracts both rose more than 2% after an unknown projectile hit a cargo ship near Oman. This prompted the U.N. shipping agency to suspend their voluntary evacuation scheme. Two U.S. officials said that Iran shot at the...

Crude Oil

The dollar is steady near its one-year high as world stocks rise on the chip rally

Global stocks rose Thursday, as chipmakers' strong earnings lifted sentiment. Meanwhile, the dollar hovered at a year-high, with investors still wary of stretched valuations. S&P 500 and Nasdaq, the benchmark indexes on Wall Street, were both up, with industrials, healthcare, and materials stocks leading the way. Micron rose 10% as the memory chipmaker’s strong forecast contributed to its AI-driven rise. Qualcomm gained 4% following its announcement that it expects to generate $15 billion in annual sales through its data center division by 2029. Nasdaq fell, but was dragged lower by the choppy trades among megacap technology companies. Apple fell 5.3%....

Oil & Gas

Sources: Russian refinery NORSI shut down after drone attack

NORSI, Russia’s fourth largest oil refinery, and the second largest gasoline producer, suspended operations after an?Ukrainian?drone attack on Wednesday. This move is likely to worsen fuel shortages across the country, according to?two sources in industry? on Thursday. Ukraine has said that its campaign of drone strikes against Russian energy installations is aimed at reducing a major source of funding for war and bringing the conflict closer to Russians. The President of Russia, Vladimir Putin, has stated that such attacks on civil infrastructure are meant to create a rift among the populace. Sources said that the attack at NORSI damaged CDU-5,...

Fossil Fuels

Wall Street Journal, June 25,

These are the most popular?stories from the Wall Street Journal. The Wall Street Journal has not verified these stories and cannot vouch for their accuracy. Donald Trump has ordered the Department of Justice (DOJ) to investigate oil companies that have not reduced gasoline prices in line with the falling crude cost, accusing them of "gouging". The Pentagon has awarded Lockheed Martin a contract for up to 35 billion dollars worth of Thaad interceptors?to replenish U.S. stocks after the 'Iran War. SK Hynix, a memory-chip giant, plans to raise more than $29 billion via a Nasdaq IPO to fund its expansion...

Crude Oil

Asian stocks soar as Micron earnings soothe AI fears

Asian stocks surged on Thursday, after Micron and Qualcomm reported strong earnings. This helped to ease some of the concerns about the AI rally which has driven global stock prices to new highs. Micron announced that its customers have committed $22 billion to its memory chips. Qualcomm expects $15 billion of sales in its data center business by 2029. MSCI's broadest Asia-Pacific share index outside Japan rose 1.3% in early trading. Japan's Nikkei gained over 2%, while South Korea's KOSPI gained 5.5%. Futures on the S&P 500 index rose by 0.5%, while Nasdaq futures increased by?1.8%. Tony Sycamore is a...

Crude Oil

Stocks fall as dollar hits an all-time high

The stock market fell on Wednesday. Wall Street's gains were erased, and European shares were little changed. Valuation worries continued to weigh on the sentiment. Meanwhile, the dollar rose to a new high. The technology stocks that were hard hit on Tuesday reversed their early gains and continued to fall ahead of the earnings report from Micron, whose chips are a key component in driving AI. Investors have been hesitant as they priced in at minimum one rate increase from the Federal Reserve for this year. The Dow Jones Industrial Average was higher on Wall Street while the S&P 500,...

Crude Oil

Oil prices continue to fall on the back of expectations for smoother crude flow via Hormuz

On Wednesday, oil prices dropped more than 1%, continuing this week's losses and trading at near four-month highs. This is on signs that more oil tanks stranded in the Gulf will be moving out of the Strait of Hormuz. Brent crude futures were down 78 cents or 1.0% at $76.30 per barrel as of 3:50 GMT. U.S. West Texas Intermediate fell 78 cents or 1.1% to $72.43 a barrel. On Tuesday, both benchmarks fell by around 1% and reached their lowest levels since March. Positive signals from the Persian Gulf are fueling optimism regarding oil flow through the Strait of...

Crude Oil

Asian stocks wobble following tech-led saledown, volatility risks highlighted

Analysts warned about the possibility of a new bout of volatility after the?day-long global selloff? in technology and semiconductor stocks. MSCI's broadest Asia-Pacific share index outside Japan fell 0.02%. South Korean shares, that plunged 10% in one day, their biggest drop since March, rose 2.2%. Japan's Nikkei fluctuated between gains and losses. It was last down 0.8%. Michael McCarthy, a market analyst with Moomoo Securities Australia, said that the price action on markets in the past seven days was alarming. Not only when it fell, but also when it rose. When markets are moving so quickly, either in one direction...

Crude Oil

Oil prices continue to decline as oil flows through Hormuz are expected to be smoother

On Wednesday, oil prices continued to fall, and traded 'near the four-month lows reached in the previous session. This was on the back of signs that more oil tankers stuck in the Gulf after the Iran war were set to leave the Strait of Hormuz. Brent crude futures fell 37 cents or 0.5% to $76.71 per barrel at 0043 GMT. U.S. West Texas Intermediate dropped 36 cents or 0.5% to $72.85 per barrel. Both benchmarks fell nearly 1% Tuesday, reaching their lowest levels since March. The price of oil has been under pressure since this week, after Washington gave Tehran...

Crude Oil

Stocks drop as chipmakers, tech and other stocks slump due to rate bets

Global stocks fell on Monday, with a selloff of technology and semiconductors shares leading the way. Investors were bracing for a more aggressive Federal Reserve response to inflation. Wall Street saw the Nasdaq, a tech-heavy index, lead losses. Semiconductors?and?some megacaps were also under pressure. Nvidia shares fell 3%, Tesla shares dropped 5%. Shares of SpaceX recovered from their initial declines and traded up 1.6%. Chip stocks fell 7%. The Dow Jones Industrial Average rose 0.06%. The S&P 500 dropped 1%. And the Nasdaq Composite fell by 1.6%. Amanda Agati is the chief investment officer of PNC Asset Management Group. The...

Environment

Climate Change

French city dwellers switch from stifling apartment to cool hotel rooms

The heatwave in France this week was one of the worst ever recorded. Many city dwellers sought any refuge they could find. They checked into hotels for air conditioning and pools. On Wednesday, temperatures in 'Paris' reached a record of?40.9° Celsius (105.62° Fahrenheit), a day after France had its hottest recorded day since records began. Few private apartments, especially in the capital with its dense population, have air conditioning. Around three-quarters (75%) of Paris roofs are made of sheets of zinc. This material is a heat-absorber and conductor. This has caused a rush for hotels in both cities and outside....

Climate Change

France urges World Bank to keep climate targets

The French development minister made an 11th-hour appeal to the World Bank, Thursday. He urged?it not to give in to pressure from the United States, its largest shareholder, and to stick to the climate finance target that is due to expire at the end this month. The U.S. administration of President Donald Trump has asked the World Bank to abandon its target to dedicate 45% to climate-related lending and instead focus on core development, including a returning to fossil fuels projects. Climate Change Action Plan (CCAP) has been extended for an additional year, but it is likely to expire without...

Environment

EU Wheat Slides with Chicago, Maize Holds Near Highs During Heatwave

Euronext Wheat fell on Friday, in line with Chicago. Falling crude oil prices and the advancing harvests in the Northern Hemisphere distracted attention from a severe heatwave that ravaged Western Europe. Maize remained near contract highs. September wheat?on?Paris-based Euronext?was down 1.6% to EUR202.75 ($231.24) per metric ton, at 1603 GMT. This was a further retreat from the four-week-high of EUR210.75 on Wednesday. Chicago wheat has also fallen by about 1.5%. As a result of increased traffic in the Strait of Hormuz, crude oil prices fell by around 4%. The de-escalation of the Iran conflict has also allowed fertilizer shipments to...

Mining

Mineral Resources

Mineral Resources

Gold set for a fourth-week loss due to Fed's hawkish bets

Gold fell on Friday for a fourth consecutive week, due to the resilient dollar and expectations that U.S. interest rates will be raised faster in order to curb inflation. By 0441 GMT, spot gold had fallen 0.6% to $4.002.77 an ounce. U.S. Gold Futures for August Delivery fell 0.7% to $4017.30. Bullion is on course for a 3.8% loss this week after slipping below $4,000 on Wednesday, the lowest level since November 2025. The rapid repricing by the hawkish Fed created a strong bullish movement in the U.S. Dollar, which led to the significant decline in gold prices, said Kelvin...

Mineral Resources

Gold prices rise as dollar yields fall due to inflation data

Gold prices reversed course and edged up on Thursday, after a U.S. reading of inflation?came in largely line with expectations. This eased some concerns about upcoming Federal Reserve rate increases and pushed the dollar and Treasury yields down. As of 11:12 am EDT (1512 GMT), spot gold rose 0.2% to $4,007.65 per ounce after dropping as much as 1% in earlier sessions. U.S. Gold Futures for August Delivery rose?0.3%, to $4.021.00 an oz. "PCE data appears to have been in line with expectations. David Meger is director of metals at High Ridge Futures. He said that it's a big reason...

Mineral Resources

Dollar surges as Fed raises bets on dollar, causing gold to fall.

Gold dropped for a third straight session on Friday, remaining near the more than seven-month high it reached the previous session as the dollar rose on expectations of a rate hike in the United States. Spot gold dropped 0.5%, to $3.982.49 per ounce at 1054 GMT. ?U.S. Gold futures for August deliveries edged down 0.3% to $3.997.60 an oz. The U.S. Dollar hit its strongest level in over 13 months on Thursday. This made greenback-priced metals more expensive for holders of other currencies. CME FedWatch data shows that 66% of the markets believe that the U.S. Federal Reserve is likely...

Mineral Resources

Gold prices remain near seven-month lows as US rate hike prospects weigh

Gold prices are steady?on Friday?but remain near the seven-month low reached in the previous session as the expectation of interest rate increases in the U.S. weighs on the precious metal. As of 0843 GMT, spot gold remained at $3,999.33 an ounce. U.S. gold futures for August delivery slipped 0.2% to $4,014.90/oz. CME FedWatch data showed that the markets currently believe there is a 66% probability?that rates will be raised by the U.S. Federal Reserve in September. Nikos Tzabouras is a senior market analyst at Jefferies' Tradu.com. ETF outflows and the rotation to equities fueled by the AI boom, are factors...

Mineral Resources

Bankers claim that Vedanta Resources returns to the dollar bond market in order to purchase high-cost notes.

Two merchant bankers confirmed on Thursday that Vedanta's wholly owned subsidiary is returning to the dollar bond market in nine months with a three tranche issuance. The issuance will primarily be used to fund Vedanta's buyback of high yielding notes. The bankers said that Vedanta Resource Finance II will raise money through bonds with a coupon of 7.25, 7.6250%, and 8.0%. The company didn't respond to an email asking for comment. They asked to remain anonymous because they aren't authorised to talk to the media. The bonds will be guaranteed by the parent company as well as its subsidiaries Twin...

Mineral Resources

Gold drops below $4,000/oz due to strong dollar and hawkish Fed signals

On Wednesday, spot gold prices fell below the psychologically important?level? of $4,000 an ounce for the first time since 2025. This was due to a stronger U.S. dollar and growing expectations that interest rates would remain high. Dollar-priced gold is now more expensive to holders of other currencies. After the U.S. Central Bank struck a hawkish tone at its most recent policy meeting, traders have increased their bets that interest rates will rise in the U.S. this year. They also continue to worry about inflationary pressures due to the Iran War. Tai Wong, an independently-owned metals trader said that the...

Mineral Resources

EU strengthens Europol to combat digital and cross-border crime

The European Commission announced on Wednesday a series of'measures' to help Europol, the EU law enforcement agency, respond more quickly and effectively to cross-border crime. Europol warned in 2017 that organized crime groups were using AI scams to target their victims. Many governments continue to make it a priority to combat smuggler gangs who illegally transport migrants across Europe. * The Commission stated that 'Europol will create a?shared data space? and a sovereign cloud to enable investigators to more easily collaborate on joint cases. The Commission announced that the agency would also open support offices in EU member states, which...

Mineral Resources

Dollar gains as Fed hikes rates and gold falls to a two-week low

Investors weighed conflicting signals about U.S. peace talks with Iran as they assessed the varying signals from U.S. and Iran. Gold spot fell 0.7%, to $4,081.24 an ounce, at 0751 GMT. It had earlier fallen to its lowest level since June 11. U.S. Gold Futures for August Delivery declined by 1.2% to $4.098.70. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections in "infinity" while Tehran claimed it had not made such a concession during negotiations. This raises questions about whether their fragile peace agreement will survive. Both sides disagreed over the details of a...

Mineral Resources

Dollar gains as Fed hikes rates and gold falls to a two-week low

Investors weighed conflicting signals about the U.S. - Iran peace talks as they assessed rising bets that U.S. interest rates would rise. Gold spot fell 0.5% at 0609 GMT to $4,088.97 an ounce, after hitting its lowest level since June 11. U.S. gold for August delivery fell 1% to $4106.30. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections indefinitely. However Tehran claimed it had not made any such concessions during negotiations. This raises questions about their fragile peace agreement. Both sides disagreed on the specifics of a provision which would give Iran access to...

Mineral Resources

Dollar gains as Fed hikes rates and gold falls to a two-week low

Gold fell on Wednesday, reaching its lowest level for 'almost two months, as the dollar rose amid rising bets that the U.S. would raise interest rates, and investors analyzed conflicting signals regarding the U.S. Iran peace talks. Gold spot fell 1%, to $4,067.51 an ounce, at 0236 GMT. It had earlier fallen to its lowest level since the 11th of June. U.S. gold contracts for August delivery fell 1.6% to $4.083.90. Donald Trump, the U.S. president, said that Iran agreed to nuclear inspections in "infinity" on Tuesday. Tehran denied this and said they had not made such a concession during...

Mineral Resources

Gold drops as rate-hike betting boosts dollar to an all-time high

The?U.S. dollar?hit a one-year high on Tuesday, outweighing support from lower oil prices amid progress in U.S.-Iran talks. Dollar?hit a year-high on expectations of a Federal Reserve interest rate hike. This outweighed support from lower oil prices in light of progress in U.S. Iran talks. By 11:45 am, spot gold had fallen by 1.2% to $4138.79 an ounce. ET (1545 GMT). U.S. Gold Futures for August Delivery fell by 1.1% to $4156.40 an ounce. The U.S. Dollar rose to its highest levels in over a year, making gold more expensive for foreign buyers. Right now, gold and silver don't look...

Mineral Resources

Gold drops 2% as rate hike bets push dollar to an all-time high

?Gold prices fell on?Tuesday as the U.S. Dollar hit a year-high on expectations of a Federal Reserve rate hike, which outweighed support from softer prices for oil amid progress in U.S.Iran negotiations. By 9:26 am, spot gold had fallen 1.7% to $4118.73 an ounce. ET (1326 GMT). U.S. Gold Futures for August Delivery?fell by 1.6% to $4135.60 an ounce. The U.S. Dollar rose to its highest levels in over a year, Tuesday. This made gold more expensive for buyers from abroad. "At the moment, gold and silver aren't looking at the Middle East." Bob Haberkorn is a senior market analyst...