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Crude Oil

Crude Oil

Oil edges up, investors eye Trump statement on Russia

Oil prices increased on Monday adding to the gains of over 2% made on Friday as investors regarded further U.S. Sanctions on Russia, which may have an impact on global supplies. However, a surge in Saudi production and tariff uncertainty restrained gains. Brent crude futures increased 8 cents, to $70.44 per barrel at 0011 GMT. This extends a gain of 2.51% on Friday. U.S. West Texas Intermediate Crude Futures rose to $68.50 up 5 cents after closing 2.82% higher the previous session. Donald Trump, the U.S. president, said Sunday he would send Patriot missiles for air defence to Ukraine. He...

Fossil Fuels

EU envoys close to agreement on lower Russian crude oil price cap

Four EU sources told reporters that after a meeting on Sunday, EU envoys were on the verge to agree on an 18th package against Russia in response to its full-scale invasion into Ukraine. The sanctions would include a lower cap on Russian crude oil prices. Sources said that all elements of the package have been agreed upon, but one member state has still a technical reservation about the new cap. Sources - who spoke on condition of anonymity in order to discuss confidential discussions - stated that they expected to reach a complete agreement on Monday ahead of the foreign...

Fossil Fuels

Energy ministry: Saudi Arabia has fully met its voluntary OPEC+ targets

Saudi Arabia's Energy Ministry said Friday that the Kingdom had fully complied with its voluntary OPEC+ production target. It added that Saudi marketed crude supplies in June were 9.352 millions barrels per daily, in accordance with the agreed quota. This statement comes after a report by the International Energy Agency this month, which stated that Saudi Arabia had exceeded its oil production target for June by 4,300.000 barrels and reached 9,8 million barrels compared to the implied OPEC+ goal of 9.37 millions bpd. Saudi Arabia, the driving force behind this decision, decided that OPEC+ would stop using IEA statistics in...

Crude Oil

Gold and stocks rise after Trump imposes tariffs on Canada

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 move into safe havens like gold. The Canadian dollar dropped after Trump sent a late-night letter on Thursday stating that a 35% tax rate would be applied to all imports coming from Canada starting August 1. A letter was expected to be sent by Friday to the European Union. The U.S. President, whose global tariff wave has disrupted businesses and policymaking, proposed a 15% or 20% blanket tariff rate for other countries. This...

Crude Oil

Gold gains and stocks fall after Trump tariffs on Canada

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...

Crude Oil

The oil price has recovered slightly, but US tariffs and OPEC's downgrade are still weighing.

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...

Crude Oil

Brazilian real surges, stocks edge higher as investors weigh Trump’s latest tariffs

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...

Crude Oil

As investors digest Trump's latest trade tariffs, stocks edge higher and the Brazilian real rises.

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 for goods coming from Brazil. 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 Wednesday, the Brazilian real's volatility gauges reached their highest level since late April and the real fell as much as 2,3%. The dollar fell by 0.4% last Thursday against the real while Brazilian stocks dropped about 0.7%. Brazilian...

Crude Oil

Investors unfazed with Trump's tariff moves, Asian shares are up on Nvidia.

Asian stocks rose on Thursday on the back of optimism following Nvidia's rise to a record $4 trillion valuation. Investors also shrugged off President Donald Trump's recent tariffs. U.S. Copper Futures increased their premium over the London benchmark overnight, after Trump announced his plans to impose 50% tariffs on copper. Later, on Wednesday, he said that the tariffs would be in effect from August 1. Trump's trade anger also turned against Brazil on Wednesday, as he issued notices of tariffs and threatened a 50% punitive tariff on Brazilian exports to the U.S. The recent moves have not caused much of...

Crude Oil

Nvidia helps Asia shares to a high, as investors are unfazed with Trump's tariff moves

Asian stocks rose on Thursday on the back of optimism following Nvidia's rise to a record $4 trillion valuation. Investors also shrugged off President Donald Trump's recent tariffs. U.S. Copper Futures increased their premium over the London benchmark overnight, after Trump announced his plans to impose 50% tariffs on copper. Later, on Wednesday, he said that the tariffs would be in effect from August 1. Trump's trade anger also erupted against Brazil on Wednesday, as he issued notices of tariffs and threatened to impose a 50% penalty on Brazilian exports. The recent moves have not caused much of a stir...

Crude Oil

Russian rouble barely changed despite U.S. sanction threat

The Russian rouble fluctuated little in relation to the dollar on Tuesday, despite President Donald Trump's harsh criticism of Russian president Vladimir Putin and threats of new U.S. According to LSEG, based on quotes over the counter, by 0925 GMT the rouble had risen 0.4%, or 78.15 dollars per rouble. Since the beginning of the year, the Russian currency has gained 45% versus the dollar. Trump, who has been frustrated with Russian President Vladimir Putin for some time, said Tuesday that he approved the sending of defensive arms from the United States to Ukraine and is considering additional sanctions against...

Crude Oil

European stocks ignore tariff news as US copper soars

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...

Environment

Environment

UK Government to reduce red tape for businesses that want to reduce emissions

In a speech to the financial sector this week, British Finance Minister Rachel Reeves is expected to ask regulators to lower barriers for businesses that want to reduce their emissions. A government source confirmed on Monday. The Financial Conduct Authority of Britain, the Bank of England, and the Green Finance Institute (partly government-backed) will conduct a pilot to identify regulatory and other obstacles to projects that aim to enable businesses with high levels of carbon emissions to reduce them. Reeves will make the announcement during her annual Mansion House address to London's Financial Sector on Tuesday. She will be speaking...

Environment

Trump threatens Rosie O'Donnell's U.S. Citizenship

The U.S. president Donald Trump said on Saturday that he may revoke the citizenship of talk show host Rosie O'Donnell after she criticised his administration's handling weather forecasting agencies following the Texas floods. This is the latest salvo of a long-running feud between the two over social media. Trump said on his Truth Social page that he was seriously considering removing Rosie O'Donnell's citizenship because she is not serving the interests of America. He cited a rationale for deportation the administration used to try to remove foreign born protesters from the United States. "She is a threat to humanity and...

Environment

Spanish court orders cleanup in Galician pig farms pollution

A court document released on Friday revealed that the top court of Spain's Galicia region in northwestern Spain has ordered authorities to eliminate pollution associated with intensive pig farming. This is a landmark case which highlights decades-long mismanagement in environmental management. Spain, Europe's biggest pork producer, has about a third its pig farms located in Galicia. The court found the right of 20,000 residents in the A Limia region to live in a healthy, clean environment violated. According to environmental groups ClientEarth, and Friends of the Earth Spain who supported the case, the ruling condemns both state and local authorities...

Mining

Mineral Resources

Mineral Resources

Copper prices are soaring amid US trade negotiations and a 50% metal tariff

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) were volatile on Monday, as investors assessed trade talks between the U.S. with its major trading partners and a tariff of 50% on copper imports. The LME's three-month copper rose 0.07%, to $9,667.5 a metric ton, by 0104 GMT. Meanwhile, the SHFE's most traded copper contract fell 0.37%, to 78240 yuan (10,915.03). Donald Trump, the U.S. president, announced on Saturday that he will impose a tariff of 30% on imports from Mexico and the EU from August 1. He also issued similar warnings to other countries. They have less than...

Mineral Resources

Berlin gains influence over TKMS, a warship-builder as part of a planned spinoff

Documents from the company showed that Berlin had reached a preliminary deal with Thyssenkrupp in order to gain influence over its defence division TKMS. This is ahead of a planned spinoff and separate listing for later this year. Amid a robust defence technology market, the German industrial group is planning to sell 49% of TKMS in the fall, pending approval by an extraordinary general assembly on August 8. Documents show that the German government was aiming to reach a security agreement with TKMS. TKMS manufactures frigates, subs, and underwater mine-sweeping technologies. A first term sheet in this regard was signed...

Mineral Resources

Gold prices rise 1% as Trump introduces new tariffs

Gold prices rose 1% on Friday to a new one-week-high as investors sought safe-haven assets following the announcement by U.S. president Donald Trump of new tariffs. By 9:38 am EDT (1338 GMT), spot gold had risen 1% to $3355.89 an ounce, its highest price in over a week. U.S. Gold Futures rose 1.3% to $3369.00. Global stocks dropped after Trump intensified his tariff attack on Canada. He said the U.S. planned to impose tariffs of up to 35% on imports in January and that he would also impose tariffs blankets of 15% or 20 % on many other trading partners....

Mineral Resources

BMW CEO hopes for a'manageable deal' on US auto import duties

BMW's CEO stated on Friday that he is optimistic about the European Union and United States reaching a "manageable agreement" on auto import tariffs. This could include a mechanism for offsetting imports with exports. Oliver Zipse made his comments as Europe awaited a letter by the U.S. Administration under Donald Trump. The letter could outline the framework for a trade agreement and clarify the tariff levels on European automobile exports. Trump said that the EU may receive a tariff letter by Friday. Zipse, speaking to journalists on Friday at an event for his company in Munich, said: "I am optimistic...

Mineral Resources

Ford accepts voluntary redundancies at troubled eCar site in Cologne

Ford and German employee representatives announced on Friday that the company has agreed to an employment protection plan at its Cologne factory, which will cover over 10,000 employees. Voluntary redundancies are planned as a response to the slow uptake of electric vehicles. Ford has undergone a painful restructuring process in Europe. Cologne - Cuts in Cologne Then, there is the Closure is imminent Saarlouis, a new blow to Germany's reputation as a hub for car manufacturing. Ford announced in a press release that the framework is valid until 2032 and includes the 2,900 job reductions announced by the company last...

Mineral Resources

Gold prices rise on demand for safe-havens as Trump escalates his trade war

Gold prices rose on Friday for a third consecutive session, after U.S. president Donald Trump announced new tariffs against Canada and threatened broader tariffs against other trading partners. As of 0755 GMT, spot gold rose 0.5% to $3339.99 an ounce. U.S. Gold Futures rose 0.8% to $3351. We're seeing a growing demand for gold, as a safe haven. Investors are looking for a safe asset, despite the stock market's highs. Any dip in gold will be seen as an opportunity to buy now," said Carlo Alberto De Casa. Trump announced on Thursday that the U.S. will impose a tariff of...

Mineral Resources

Gold prices rise on Trump's tariffs but dollar firmness caps gains

Gold prices rose Friday, after U.S. president Donald Trump announced new tariffs against Canadian imports as well as broader threats of tariffs to other trading partners. However, gains were limited by the stronger dollar in light of mounting signs that global trade is experiencing turmoil. As of 0245 GMT, spot gold increased 0.3% to $3333.67 an ounce. U.S. Gold Futures rose 0.6% to $3345.10. Trump announced on Thursday that the U.S. will impose a tariff of 35% on imports coming from Canada, and plans to impose blanket duty rates of 15% or 20 % on all other trading partners. The...

Mineral Resources

As markets digest US tariffs, copper prices are on the rise

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) saw copper prices range-bound on Friday. After an initial shock from the U.S. announcement that a 50% tariff on imports would be effective on August 1, the market was waiting for more details. As of 0101 GMT, the LME's three-month copper was down by 0.18%, at $9,683.5 a metric ton. The contract is down 1.73% this week and could be heading for a second consecutive weekly decline. The Shanghai Futures Exchange's most traded copper contract edged up 0.18% to 78.530 yuan (10,943.12) but is still on course to finish the...

Mineral Resources

US copper prices rise after Trump announces a date for tariffs, but remain below their peak

The price of U.S. Copper rose on Thursday, after U.S. president Donald Trump announced a 50% tariff that would begin on August 1. However, the prices remained below their previous record high due to an oversupply of metal in the country as well as uncertainty about details. Trump announced on Tuesday that new tariffs would be imposed on copper. He announced Wednesday the date and confirmed it. The COMEX copper contract that was most active at 0945 GMT rose 2.1% to $5.60 per lb, down from the record high of $5.90 reached on Tuesday. Ole Hansen is the head of...

Mineral Resources

SHFE copper drops as US tariffs are seen to be hitting China harder

The Shanghai Futures Exchange saw copper prices fall more than in London, as analysts say that China is likely to bear the brunt from the United States' decision imposing a 50% tariff on imported copper. By 0708 GMT, the most traded copper contract on the SHFE had fallen for the fifth consecutive day, down 0.39% to 78,600 Yuan ($10,952.87 per metric tonne). On Thursday, it touched 78.190 yuan ($10,952.87), the lowest level since June 23. On the other hand, copper for three months on the LME recovered on Thursday, after five consecutive days of losses. It was up 0.36% to...

Mineral Resources

MORNING BID EUROPE - Markets not shaken by Trump's tariffs

Rae Wee gives us a look at what the European and global markets will be like tomorrow. The price movement of stocks in recent days has shown that investors have become less interested in Donald Trump's tariffs. Asia shares rose on Thursday, riding the wave of Nvidia's quick rise to $4 trillion in valuation. Futures indicated similar gains for Europe in the afternoon. On Wednesday, the U.S. president launched his tariff attack into overdrive. He announced a new tariff of 50% on U.S. imports of copper and a duty 50% on Brazilian goods. Both duties will begin on August 1....

Mineral Resources

Prices of copper in London and China are near their 3-week-lows due to the looming US tariff of 50%

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) saw copper prices drop on Thursday. They were near their lowest level in three weeks, due to President Donald Trump’s plan to impose a 50% tariff on imported copper starting August 1. Trump announced a 50% tariff for copper on Wednesday, stating on social media the tariff would take effect on August 1, and that it was a decision made following a national assessment. The LME's three-month copper rose 0.19%, to $9,649 a metric ton, by 0111 GMT. Meanwhile, the SHFE's most traded copper contract fell 0.75%, to 78.320 yuan....