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Energy Markets

Fossil Fuels

Fossil Fuels

After Israel-Iran truce, UK midcaps are lifted by travel stocks

Travel stocks led the UK's midcaps on Tuesday as investors were encouraged by signs of eased tensions in Middle East, and a positive forecast from Carnival Cruise Lines. The domestically oriented FTSE 250 rose 1%, reaching a record high of more than a week. Carnival's UK listed shares rose 11.8%, outpacing gains in the midcap index. raised Its annual profit forecast was higher than expected and it beat the second-quarter earnings estimate. The FTSE 350 Travel & Leisure index rose 3.6% after U.S. president Donald Trump announced Israel and Iran reached a 12-day-old ceasefire. Both sides accuse each other Violations...

Environment

Eni unveils plant to recycle plastic waste chemically

Versalis is the chemical division of the Italian energy company Eni. On Thursday, Versalis unveiled a new demonstration plant for the chemical recycling mixed plastic waste based on its proprietary technology. The technology, called 'Hoop,' allows for the conversion of mixed plastic waste to a material which can be used in order to create new plastic materials that are suitable for any application, including packaging intended to come into contact with food and pharmaceutical packaging. The move is part a larger strategy by the state-controlled company to revamp its losing chemical business. The high cost of energy and raw materials,...

Fossil Fuels

World Bank cuts global growth forecast due to trade tensions

The World Bank lowered its forecast of global growth for 2025 on Tuesday by 0.4 percentage points to 2.3%. It said that increased tariffs and uncertainty were a "significant" headwind for almost all economies. The bank's twice-yearly Global Economic Prospects Report shows that it has lowered its predictions for almost 70% of the world's economies, including the United States and China, Europe, and six emerging markets regions. This is a significant drop from its projections six months earlier, before Donald Trump became president. Trump has upended the global trade system with a series on-again-off-again tariff increases that have raised the...

Fossil Fuels

Europe's auto part suppliers suspend production due to China's restrictions on rare earths

As concerns grow about the impact of China's new restrictions on mineral exports, some European auto part plants have suspended production. BMW has also warned that its supply network is affected by a shortage of rare earths. China's April decision to suspend the export of rare earths, magnets, and other related products has disrupted supply chains for automakers, aerospace companies, semiconductor firms, and military contractors all over the world. China is using this move to demonstrate its dominance in the mineral industry that is key to green energy and as leverage against the U.S. president Donald Trump. China produces 90%...

Fossil Fuels

Dutch car-sharing firm adds Renault electric vehicles capable of powering the local grid

This week, MyWheels, a Dutch car-sharing company will add the first 500 Renault EVs that are grid-connected to its fleet. The technology is gaining traction in Europe and the number of cars capable of strengthening power grids has increased. The Vehicle-to Grid technology (V2G) allows electric cars to store energy and deliver it to the grid during times of high demand. It has been around for several years, but it was only recently that the technology became commercially viable. This was due to smart charging and batteries capable of sustaining intensive use. MyWheels' roll-out will be the biggest V2G car...

Electric Utilities

NextDecade: JERA signs 20-year LNG Supply Deal

NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had signed a deal for supplying Japan's largest power generator JERA 2 million tonnes of LNG per year from the fifth liquefaction plant in its Rio Grande Project. Early trading saw NextDecade shares up 5.5% to $8.11. The United States will be the largest LNG exporter in the world in 2024. It is expected to ship 11.9 billion cubic foot per day. This has been boosted by President Donald Trump lifting a moratorium in January on new export licenses. NextDecade’s deal with JERA - Japan's largest LNG buyer...

Oil & Gas

EU to lower price cap on Russian Oil to $50 Per Barrel

Valdis Dombrovskis, European Economic Commission Commissioner, said that the EU will propose this week to the G7 Finance Ministers a reduction of the current $60 per barrel cap on Russian oil seaborne as part the new sanctions against Moscow. Dombrovskis didn't mention the level at which the European Union wants the price cap to be lowered. However, EU officials who were briefed about the discussions stated that the EU would suggest $50 per barrel. When asked by reporters if the G7 Finance Ministers meeting in Canada next week would include a proposal to lower this cap, he replied: "Yes." The...

Fossil Fuels

Asian petrochemical producers chase ethane gains as margins dwindle

As they struggle with thin margins and a global oversupply of petrochemicals, executives from several Asian companies said that they plan to reconfigure crackers in order to process more Ethane. This will reduce costs and allow them to take advantage of the rising U.S. supply. SP Chemicals, a Chinese company, and YNCC in South Korea are two of the largest cracker operators. Mitsui Chemicals in Japan is researching the use of ethanol to fuel existing crackers. This change will enable operators to maintain flexibility in their feedstocks, with U.S. exports of ethane expected to increase by about 7% by 2025....

Natural Gas

GAIL (India's) quarterly profit drops more than expected due to lower gas margins and cost pressures

Gas distributor GAIL India posted a larger-than-expected drop in quarterly profits on Tuesday. This was mainly due to lower gas marketing margins, and higher costs. GAIL, India’s largest natural gas distributor based on market share, reported a net profit after taxes of 20.49 billion Rupees ($240.1 millions) for the three-month period ended March 31, a decline of 5.9%. According to data compiled and analyzed by LSEG, analysts had predicted that profit would fall on average 3.1%, to 21.13 billion Rupees. Gas marketing, which accounts for the majority of revenue generated by the company through wholesale trading and distribution of natural...

Fossil Fuels

Sources say that the Saudi oil export to China is expected to remain at a record high of one year in June.

Trade sources reported on Tuesday that Saudi Arabia's crude supply to China would remain the same in June, after reaching its highest level in over a year the month before. This follows OPEC+'s decision to increase production. Saudi Aramco, the state oil company, will ship 48 million barrels of crude oil to China in June. This is the same amount as May and the highest since at least 2024. Aramco has not responded to the request for comment regarding its June allocations. Sources say that Sinochem, a Chinese state-owned refiner, and private refiners such as Rongsheng Petrochemical, Hengli Petrochemical, and...

Oil & Gas

Nikkei reported that Japan's NTT planned to purchase remaining NTT Data Shares for up to $20,9 billion.

The Nikkei reported that the Japanese telecoms giant Nippon Telegraph and Telephone Corp. plans to launch an offer up to 3 trillion Japanese yen (20.92 billion dollars) to purchase the remaining shares of NTT Data. NTT Data is owned by 57.7%, NTT being the largest telco in Japan. NTT Data provides IT services, and its market capitalisation was $29.5 billion as of Wednesday's closing. Nikkei reported that under the tender offer which could be announced by Thursday, NTT will buy out all remaining shares of NTT Data for a premium between 30% and 40%. NTT Data and NTT could not...

Oil & Gas

Port Sudan shook by explosions, army claims to have intercepted drones

Sudan's army claimed that its anti-aircraft system intercepted drones on Wednesday, which were targeting the largest naval base of the country in Port Sudan, the country's wartime capital. There were explosions heard in the city. It was not immediately known if they were near Flamingo's base. Port Sudan was the target of days of attacks, including drone strikes reported by Sudan's paramilitary Rapid Support Forces. These assaults have destroyed the country's largest fuel depots as well as its main humanitarian aid gateway. Port Sudan has enjoyed relative peace since the outbreak of the civil war in April 2023 between the...

Crude Oil

Crude Oil

Stocks extend record run despite Fed pressures as dollar falls to 3-year low

The dollar fell to its lowest level in three years, while the world stock market reached its second record high within three days after a report that Donald Trump planned to select the next Federal Reserve Chief early fueled fresh bets about U.S. interest rate cuts. Dollar selling continued as U.S. trade picked up after Wall Street Journal reported that the U.S. President - who had been urging Fed to reduce rates faster – was toying with idea of choosing Chair Jerome Powell’s successor in the next few month before his formal departure in May. The greenback was down by...

Crude Oil

Stocks extend record run despite Fed pressures as dollar falls to 3-year low

On Thursday, the dollar fell to its lowest level in three years while global stocks reached their second record high within three days as new bets were placed on rate cuts by the U.S. The Wall Street Journal reported that the U.S. President, who has been pressing the Fed to lower rates more quickly, was considering the possibility of replacing Chair Jerome Powell in the coming months before his departure in May of next year. The greenback is down by more than 10% this year. If the greenback continues to fall in the next few days, it will be the...

Crude Oil

Dollar steady, stocks up as ceasefire boosts confidence

On Wednesday, stocks rose and crude oil remained close to multi-week lows as investors viewed a ceasefire agreement between Israel and Iran and reinvested in riskier assets. They also brushed aside any immediate concerns about an energy crisis. Lower oil prices lowered the inflation risk for bonds. Israel has said it will take strong action against Iranian missile attacks that followed after U.S. president Donald Trump declared an end to hostilities. According to an initial U.S. Intelligence Assessment, the U.S. airstrikes didn't destroy Iran's nucleonic capability, but only pushed it back a few months. This contradicts Trump's previous comments that...

Mining

Mineral Resources

Mineral Resources

Siemens Gamesa, Chinese magnet suppliers discuss European production, COO says

Siemens Gamesa, a wind turbine manufacturer, is in discussions with Chinese suppliers about bringing production in Europe. This would reduce the region's dependence on imports following China's restrictions on supply. The delays in the issuance of Chinese export permits for rare earths have forced European automakers and their suppliers into a scramble to find alternatives on a market dominated by China, the world's second largest economy. The production of rare earths across Europe could be affected by the No. 2 economy in the world. Wind sector is also dependent on rare earths produced in China. Most notably, neodymium which is...

Mineral Resources

Tesla's European Sales Slump for Fifth Month

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region jumped by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids grew the most, followed by cars using alternative fuels. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share...

Mineral Resources

Japan's Nikkei closes at a 4-month high, as shares of chip makers follow US peers higher

The Nikkei share index ended Wednesday at a record high of more than four months, as stocks related to chips followed the overnight gains made by their U.S. counterparts. After a flitting back and forth between modest gains, the Nikkei closed at 38,942.07 - its highest level since February 19. The Topix index as a whole rose 0.03% to 2,782.24 Shigetoshi kamada is the general manager of the research department at Tachibana Securities. He said that the Nikkei fluctuated between gains and losses as investors sought to profit from gains made in the previous session. Investors want to cover short...

Mineral Resources

Trump's role in the Nippon Steel acquisition of U.S. Steel is significant

The companies confirmed that Nippon Steel completed its $14.9 billion purchase of U.S. Steel on Wednesday. This confirms the unusual power of the Trump administration, after 18 months of struggle by the Japanese company to complete the acquisition. Nippon purchased 100% of U.S. Steel's shares for $55 each, just as it had stated in its initial offer to buy the well-known, struggling steelmaker back in December 2023. The filing reveals details of an agreement signed with the Trump Administration, giving President Donald Trump authority to name board members and a non-economic share. Eiji Hashimoto thanked Trump and said that Nippon...

Mineral Resources

Mitsubishi increases prices on new US cars by an average of 2.1%

Mitsubishi Motors announced on Tuesday that it would be increasing the prices of U.S. cars by an average 2.1%. This is the latest automaker who has passed on cost increases to the consumers due to the Trump Administration's tariffs. In April, President Donald Trump imposed tariffs of 25% on imports of cars from Japan and almost all other countries. This prompted Mitsubishi to suspend its deliveries to U.S. dealerships. The Japanese automaker said that it resumed these deliveries last week. Mitsubishi explained that the 2.1% increase in average weighted prices, effective on Wednesday, "is a result of our ongoing and...

Mineral Resources

Trump claims that the EU is not offering a fair trade deal and Japan is also 'tough.'

U.S. president Donald Trump said that Treasury Secretary Scott Bessent stayed in Canada for the G7 summit, and suggested Japan is being "tough' in trade negotiations and the European Union has not yet offered him what he considered to be a fair deal. Trump left early from the G7 to deal with the developments in the Middle East. The president told reporters that the EU has been very tough with the United States over the years. Trump said, "We are talking but I do not feel they have offered a fair offer yet." "They will either make a fair deal,...

Mineral Resources

U.S. Steel shares rise after golden share details unveiled

U.S. Steel shares rose 5% Monday as the bid of Nippon Steel for the well-known American company neared the finish line. Details of the U.S. Government's golden stake were also revealed over the weekend. U.S. Steel's shares reached $54.86, just shy of the $55 Nippon Steel bid, after the Trump Administration gave the green light on the merger via an executive agreement and a signed order to ease national security concerns. This culminated a turbulent 18-month process. Questions arose about the "golden shares" that President Donald Trump suggested would give the American people 51% of the struggling U.S. company as...

Mineral Resources

Nippon Steel shares rise after Trump approves $14.9 billion US Steel bid

Nippon Steel's shares rose Monday after U.S. president Donald Trump approved the $14.9 billion offer for U.S. Steel. This cleared a major hurdle in their 18-month pursuit, and secured access to a crucial market for their growth strategy. The approval culminated a turbulent process that was marked by two reviews of national security and union opposition. Nippon shares, the fourth largest steelmaker in the world, rose 3% by midday to 2,915yen after they were untraded earlier due to a surplus of buy orders. The shares outperformed the benchmark Nikkei 225 Index in Tokyo, which rose about 1%. Trump signed an...

Mineral Resources

Nikkei shares rise in Japan as yen weakens, boosting exports

Japan's Nikkei average rose Monday, despite the continuing conflict between Israel and Iran. A weaker yen was a major factor in this rise. The Nikkei rose 0.9% to 38,164.07 at 0155 GMT. Meanwhile, the Topix rose by 0.54%, reaching 2,772.46. Kentaro Hayashi is a senior strategist at Daiwa Securities. He said that investors were less concerned about geopolitical tensions. The market did not see the need for further sell-offs. He added that there is optimism about the end of the conflict with the United States and Russia taking action. Nikkei dropped on Friday, after Israel launched attacks against Iran. Wall...

Mineral Resources

Andy Home: Demand destruction could help China break its rare earths shackles

Beijing's export restrictions have exposed the West's dependence on Chinese supplies of esoteric materials and permanent magnets. It's not like we've never been in this situation before. China did the exact same thing in 2010. Western automakers chose to ignore historical precedents and double down on a techniqe that is almost completely beholden Beijing's export whims. Many of them have now entered a panic mode and several have already been forced to stop production lines. This shows the huge economic impact that niche metals like dysprosium (used in neodymium iron boron (NdFeB), magnets) can make. China's willingness weaponise its dominant...

Mineral Resources

Source: RPT-Hyundai Motors has a stockpile of rare earths that can last for about a year.

A person who attended an investor call for Hyundai Motor said that the company has a stockpile of rare earths which can last up to a year. It does not anticipate any short-term impacts from disruptions in global supply chains caused by China’s export restrictions. China's decision to limit exports of rare earths, magnets, and other materials in April has disrupted supply chains for automakers, aerospace companies, semiconductor firms, and military contractors. Hyundai, along with Kia Corp., the third largest automaker in the world, is better positioned than most competitors to withstand the restrictions that have already affected production and...

Mineral Resources

Indian dealers offer steeper discounts on ASIA GOLD as price rally dampens demand

The gold discounts in India reached their highest level in over a month this week, due to a rise in prices that were near record highs. Meanwhile, the rising rates in other major Asian cities also dampened demand. On Friday, domestic gold prices traded at around 98.300 rupees for 10 grams, having rebounded from a monthly low of 90.890 rupees and approaching the all-time record of 99.358 rupees. Indian dealers were forced to offer discounts due to the price spike Up to $56 per ounce less than official domestic prices. This includes a 6% duty on imports and a 3%...