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Rubio: US plan for Venezuela includes stability, recovery and transition
Trump warns of more military operations following Maduro's capture Murphy, a Democrat, says that the plan is stealing oil at gunpoint' Rubio: US will make sure oil companies can access Venezuela during the recovery phase. Simon Lewis and Patricia Zengerle WASHINGTON - On Wednesday, Marco Rubio, the Secretary of State, said that the United States had a three-step strategy for Venezuela. The plan will start 'with stabilizing the country, after U.S. troops seized Nicolas Maduro,' then ensure that U.S. companies have access to Venezuela during the recovery phase, and lastly oversee a transition. Donald Trump warned that he would launch more military operations in Venezuela if Maduro's inner-circle members who took over the leadership of the country did not comply with his demands. These demands are largely aimed at obtaining Venezuelan crude oil. Trump said the U.S. will refine and sell 50 million barrels worth of Venezuelan crude as U.S. forces continue to seize oil tankers tied to Venezuela. "The bottom-line is that we now have tremendous control and?leverage?over what these interim authorities are doing," said Rubio. He spoke with?Defense Sec. Pete Hegseth following a?classified briefing given to U.S. Senators about the Trump Administration's plan for Latin America. "But this will be a transition process," Rubio said. It will ultimately be up to Venezuelans to transform their nation. Rubio has not provided any details about the planned transition. DEMOCRATS SAID PLANS ARE EQUAL TO THE STEALING OF OIL Democrats were shocked by the plans. They said that they amounted to oil theft, but lacked specifics. They also questioned why these plans couldn't be discussed at public hearings. Rubio said that the briefing contained operational details which could not be released. However, he added that after Venezuela was stopped from "descending into chaotic chaos," the U.S. will begin a phase of "recovery." This would include "ensuring that American and Western companies, as well as other companies, have fair access to the Venezuelan markets." Rubio continued, "At the same time, we must begin the process of national reconciliation within Venezuela so that the opposition can be released from prisons or brought back into the country and start to rebuild the civil society." "And the third phase will, of course be one of transition." Chris Murphy, a Connecticut Democrat senator, called the plan "a crazy plan". "They're talking about taking the Venezuelan oil under threat of gunfire for an undefined period of time as leverage to micromanage this country." Murphy told reporters that the plan's scope and absurdity was "absolutely stunning". Reporting by Patricia Zengerle and Simon Lewis; Editing by Nia William, Rod Nickel.
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Investors lock in profits as gold falls by more than 1%
Gold prices dropped more than?1% Wednesday, as investors booked profits following a recent rally. However, it did pare some losses after weaker-than expected U.S. job data increased bets on Federal Reserve rate reductions. As of 11:16 am, spot gold fell 1.1%, to $4,445.32 an ounce. ET (1616 GMT). Prices dropped as much as 1,7% to $4,422.89 in the earlier session. U.S. Gold Futures for February Delivery were down 0.9% to $4,456.10. David Meger is the director of metals trading for?High Ridge Futures. He said, "We view today's pullback as a general profit-taking after that recent surge." Meger said that the recent rise in gold prices has been attributed to the Fed's easing. U.S. employment openings declined more than anticipated in November, after increasing marginally in October. Separately, a report from?ADP showed that private payrolls grew less than expected for December. According to data compiled LSEG, the markets expect 61 basis point rate cuts in 2019. Now, the focus is on Friday's nonfarm employment report. Geopolitical uncertainty has persisted since the capture of Venezuelan President Nicolas Maduro over the weekend. U.S. president Donald Trump announced plans to refine and sale Venezuelan crude on Tuesday, while the White House confirmed separate discussions about the acquisition of Greenland, which included potential military involvement. According to official data, China's central bank increased its gold purchases for the 14th consecutive month in December. Meger stated that the data from China continues to show "strong demand from Asia" and is yet another reason for this recent surge to the upside. In low-rate environments, and in times of uncertainty, gold, which is a non-yielding asset, tends benefit. Silver lost?5%, falling to $77.26 an ounce. HSBC increased its average silver price forecast for 2026 to $68.25 citing tight supplies and strong investment demand. However, it warned about volatility if the supply constraints ease. The spot price of platinum fell 6.8% to $2277.75 while palladium dropped 5.6% to $1720.74. (Reporting and editing by Sahal Muhammad and Varun H. K. in Bengaluru.
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Sheinbaum: Mexico hasn't increased oil shipments from Cuba to Venezuela
MEXICO CITY. Jan. 7 - Mexican president Claudia Sheinbaum stated on Wednesday that Mexico was not sending more crude oil to Cuba than in the past, but that amidst recent events in Venezuela Mexico had become an "important" supplier of crude oil to Cuba. Sheinbaum's comments were made during her morning press conference, in response to the question of whether Mexico was now the primary oil supplier for Cuba following the United States blockade of oil exports from Venezuela since mid-December. "We are not sending more oil than we have historically." She said. "Ofcourse, with the current Venezuelan situation, Mexico has become an important supply, before it was Venezuela." He added that Mexico has been providing oil to Cuba for many years, and this is done in different ways, including as humanitarian assistance, under contract or sometimes as part of a contract. She replied that it was part of a contract, and part of aid provided in the past. Trump on Tuesday Unveiling a plan The U.S. has blocked Venezuelan oil exports, which could amount to up to 50,000,000 barrels.
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J.P. Morgan expects STOXX to upgrade Greek equity, with a potential inflow of nearly $1 billion.
Wall Street brokerage J.P. Morgan anticipates that European index provider STOXX will upgrade Greece from an 'emerging' market to a 'developed' market later this year. This would allow Greek stocks to be eligible for inclusion in Europe's leading equity indexes. STOXX is expected to complete its classification of countries in the first quarter, and announce an upgrade in April. J.P. Morgan, Athens shares will be eligible to join STOXX 600 & Euro STOXX Indexes. STOXX did not respond immediately to a comment request. J.P. Morgan expects that the passive?inflow of $962 million into Greek equity will come from banks such as National Bank of Greece and Eurobank. Alpha Bank, Piraeus Bank, and Eurobank are expected to receive the majority of these inflows. J.P. Morgan also expects Hellenic Telecom and Greece's largest utility, Public Power, to be included. In September, other index providers FTSE Russell S&P Dow Jones will also include Greek equities into their developed market indices. MSCI's most recent review stated that Greece did meet the economic development criteria but "did not satisfy the size and liquidity persistency requirements". J.P. Morgan anticipates that MSCI will add Greece to their watch list for an upgrade during the 2026 market classification review. Greece is recovering steadily from its debt crisis that began in 2009. It almost left the Eurozone before an international bailout. As a'sign of its comeback', the Greek government is repaying bailout loans and debts ahead of schedule. Some of the banks that had to be bailed-out during the financial crisis are now?fully privateised and have started paying dividends. The Athens Stock Index has risen more than 160% in the past 20 years. Reporting by Shashwat Chanhan and Johann M Cherian from Bengaluru, editing by Maju Sam
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Trump official: Venezuelan oil sales will begin immediately and continue indefinitely.
A senior Trump administration official said on Wednesday that Venezuelan oil exports to the United States will begin immediately, with an initial shipment of 30 to 50 million barrels. Trump announced a plan on Tuesday to refine and sell 50 million barrels (or more) of Venezuelan crude oil that had been?stuck in Venezuela due to the U.S. ban. Officials said that sanctions against Venezuela will be selectively eased to help facilitate?the supply and trade of Venezuelan crude oil and oil products on global markets. The sanctions against Venezuela will be eased selectively to facilitate the?supply and trade of Venezuelan crude oil and oil products on global markets. CNBC, the first to report the news, said that such?oil exported to the United States would have been routed to China before. Energy Secretary Chris Wright stated on Wednesday that the U.S. is looking to restore Venezuelan oil flow, deposit money in U.S. controlled?accounts, and create conditions to allow U.S. companies to enter Venezuela. Trump said over the weekend that the U.S. will "take control" after U.S. troops oust Venezuelan President Nicolas Maduro. This could allow U.S. companies to access the vast oil reserves of Venezuela. Venezuela produced as much as 3,5 million bpd during the 1970s. Mismanagement and limited foreign investment have led to a massive drop in production. It averaged around 1.1 million bpd per year last year. Reporting by Nilutpal Timsina, Kanjyik ghosh and Alistair Bell. Editing by Tomasz Janowski.
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Nestle recalls infant formula in Africa, Americas and Asia
Nestle has expanded its recall of certain batches of infant nutrition products beyond Europe. It now includes Africa, Americas, and Asia. Nestle recalled batches of SMA formula, BEBA formula, NAN formula, and Alfamino formulation because they may have been contaminated with cereulide. This toxin can cause nausea and vomiting. Health warnings have been issued in 37 countries including the majority of European states, Australia, Brazil and China. The recall puts more pressure on KitKat, Nescafe and its new CEO Philipp Navratil who is trying to restore growth with a portfolio review following management changes. Nestle shares are down 5.7% this week. The Brazilian health ministry stated?on Tuesday that the Nestle recall was a preventative action after the toxin was detected in products from the Netherlands. Nestle Australia stated that the batches it recalled were manufactured in Switzerland. Nestle China, on the other hand, said it was recalling formula batches imported to Europe. According to a notice issued by the National Consumer Commission of South Africa, the NAN?infant formulation being recalled is a product that was manufactured in June 2025. It has a shelf life of approximately 18 months. The commission also said that the product was exported to Namibia and Eswatini. Austria's Health Ministry said on Tuesday that Nestle had recalled 800 products or more from "more than 10 factories" and this was the largest recall in its history. Nestle's spokesperson was unable to confirm this. Nestle announced on Tuesday that they had tested the arachidonic oil and oil mixtures used to produce their potentially affected infant nutrition after a problem was found in an ingredient supplied by a major supplier. The company is ramping up its production and activating other suppliers to ensure a steady supply. Reporting by Alexander Marrow, Igor Sodre and Sfundo Parakozov in Sao Paulo. Editing by Alexander Smith & David Goodwin.
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US ETF provider launches first Venezuelan-focused fund following turmoil
A?U.S. A?U.S. ETF provider is seeking approval to launch?the first-ever?exchange-traded funds tracking companies exposed Venezuela. The U.S. capture over the weekend of President Nicolas Maduro sparked an asset rally. Teucrium, a Vermont-based company, filed a filing with the U.S. Securities and Exchange Commission for the launch on Teucrium Venezuela exposure?ETF. The ETF will track the stocks and depositary receipts for companies classified as Venezuelan, or that derive at least 50% revenue from this South American country or are based in major trading partners with significant exports into Venezuela. Teucrium's spokesperson said the company was working on the ETF "prior to recent events." According to VettaFi, the firm manages more than $518 millions?in assets, mostly in commodities and crypto. Since Monday, the local Bursatil index has risen more than 90% on a dollar basis. This is a continuation of the gains made since the end of 2025. The hope was that a post Maduro Venezuela would pave the path for potential debt restructurings and investments into its vast?reserves'of oil and minerals. Romain Bordenave is the emerging market debt and foreign exchange portfolio manager at Edmond de Rothschild Asset Management. "The recent move of local equities appears to be more of a sentiment trade, 'until clarity is achieved on macro policy and institutional credibility, as well as sanctions." Investors avoided Venezuelan assets in 2017 as the resource-rich country defaulted on its external debt due to severe U.S. sanction pressure. The popularity of ETFs has increased, particularly among retail traders. This is due to the availability of no-cost brokerages like Interactive Brokers and Robinhood, which make it cheaper and easier for them to trade. Reporting by Johann M Cherian in Bengaluru and Shashwat Chanhan; editing by Sriraj Kalluvila
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Nickel price could be at risk if Indonesian quotas are changed.
Nickel is not in short supply, according to inventories Nickel is used to make EV batteries, stainless steel and other products. Quotas set by the government a year earlier could not be maintained By Pratima Desai LONDON, JANUARY 7 - Indonesian plans to reduce nickel mining quotas in order to increase revenues have succeeded in "pushing nickel close to 19-month-highs" but analysts believe that pressure to revert policy will likely mean the rally is short-lived. Indonesia, the world's largest nickel producer, accounts for 70% of global production. This was estimated to be around 3.8 millions metric tons in 2013. Nickel prices have steadily risen by more than 30% since December when the government announced mining restrictions. This week they reached $18,800 per ton, the highest price since June 2024. Last trading was near $18,000. The rally's duration will depend on how long the government is able to keep lower quotas. Similar efforts a year earlier had limited success: the government announced in January 2025 that it would set aside quotas of around 200 million metric tons wet for 2025 but approved permits for almost 300 million?tons. Analysts predict industry pressure There will be pressure on them not to give in. Macquarie analyst Jim Lennon said that "a lot of projects are coming online?this" year. Cutting quotas is like telling Chinese companies that have built these factories, they cannot operate them. This would put a stop to any future investments. According to nickel industry sources, many new projects are expected to be completed in the second half. Indonesia may limit the RKABs (quotas) only for the first half of this year. They said that when production increases, the miners can reapply to higher quotas, and the government may grant more licenses. The owners of these nickel companies have always been close to the government. Tom Price, Panmure Liberum analyst, said that the government would backflip if they lobbyed like it did last year. Last year, nickel, which is used in electric vehicle batteries and the production of steel, made up about 12% Indonesia's exports. The industry directly and indirectly employs thousands and Chinese companies are still investing millions to increase their capacity. THE MARKET IS AMPLY SUPPLIED The market is not short of nickel, so traders do not expect the prices to rise despite Indonesian quotas. The stock of London Metal Exchange approved warehouses has increased by more than 300%, to 275.634 tons Since the beginning of 2025. The level of nickel off-warrant, or that which could be delivered to LME at 112,028 tonnes, is almost double what it was at the end October last year. (Reporting and editing by Barbara Lewis; Pratima Deai)
Morgan Stanley predicts that gold will reach $4,800 in the fourth quarter of 2026
Morgan Stanley predicted gold would reach $4,800 an ounce in the fourth quarter, surpassing last year's records. They cited falling interest rates, the change of leadership at the Federal Reserve and central bank and fund purchases. Morgan Stanley also stated in a note dated January 5 that the events of Venezuela over the weekend would likely attract buyers who are looking for a safe place to store their money. However, it did not mention this as one reason why its forecast was $4,800/oz.
Bullion reached a record-high of $4,499.71/oz in December and ended 2025 at a gain 64%. This was its best performance for the year since 1979.
SAFE HAVENS IN TIMES of UPHEAVOR Traders see gold as a store of 'value in times of economic and political turmoil. It also performs well when interest rates are low, because its non-yielding properties?are less of a financial disadvantage.
The bank stated that the peak silver deficit would be in 2025. It also added that China's export licence requirements which came into effect at the beginning of this year have increased the "upside risks for silver".
Silver's annual gains in 2025 were the highest ever, soaring 147% on the back of a growing industrial and investor appetite, and a structural deficit.
The bank stated that it preferred aluminum and copper in the base metals sector, as both are facing supply issues and increased demand.
The note stated that "Aluminium supplies are constrained everywhere but Indonesia while the increasing?Midwest premium suggests some U.S. purchasing may be returning."
The report also stated that copper supply disruptions in 2025 would continue into 2026, despite the fact that U.S. imports of copper have increased.
The London Metal Exchange's benchmark 3-month copper reached a high of $13,387.50 Tuesday. The bank also highlighted the strength of?nickel, which is driven primarily by the risk of supply disruption in Indonesia. However, it noted that much of this can be priced into the market.
Nickel rose 5.8% on Tuesday to $17.980 per ton, its highest level since October 8, 2024. (Reporting by Anjana Anil in Bengaluru; editing by Barbara Lewis)
(source: Reuters)