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Source: US offers nuclear waste hosting deals to states
The?U.S. The Department of Energy is seeking interest from U.S. States as early as this week on the storage of nuclear waste as a reward for incentives to build reactors. The Trump administration wants to quadruple the U.S. nuclear capacity to 400 gigawatts in 2050, as electricity demand increases for the first decade due to data centers and cryptocurrency. The new strategy represents a major shift in policy aimed at solving an old problem that has plagued the U.S. Nuclear Industry for decades: how to dispose of its radioactive waste. The administration believes that overcoming local opposition to waste disposal is crucial to reaching its ambitious nuclear expansion goals. Trump said at the World Economic Forum of Davos that nuclear power could be developed for "good prices" while still being safe, despite his previous reservations. The Energy Department didn't immediately respond to an inquiry for comments on the plan. Details could change. In recent years, local concerns over radioactive and toxic nuclear wastes have slowed down the development of nuclear energy. Waste is stored at nuclear power stations, initially in spent fuel pools, and then in concrete or steel casks. In exchange for incentives to build nuclear power plants, states could host deep-underground waste storage facilities. This would be a departure from the long-standing plan of storing waste beneath Nevada's Yucca Mountain. In 1987, the department devoted all its efforts to Yucca as "a single repository" for all U.S. nuclear waste. However, due to opposition by state legislators, former President Barack Obama halted the project. Over several administrations, the U.S. spent at least 15 billion dollars on Yucca. The Department has focused its efforts on locating nuclear waste sites based on consent. There are no plans at this time for a permanent site. Source: The Energy Department is going to invite states' interest in deals that will also include?incentives on nuclear waste reprocessing, uranium enrichment and nuclear waste reprocessing. The source stated that the plan was 'non-binding' and that states did not have to accept all elements. The former President Ronald Reagan lifted the moratorium on the reprocessing or recycling of nuclear waste. However, companies in the United States have not developed this technique commercially due to the costs. Reprocessing is opposed by many non-proliferation activists, who say that its supply chain can be used as a target by militants looking to steal materials to use in crude nuclear weapons. Politico reported the plan for the first time on Wednesday. (Reporting and editing by Lisa Shumaker; reporting by Timothy Gardner)
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Gold gains are reduced as Trump relaxes his tariff rhetoric on Greenland
Gold prices fell on Wednesday after President Donald Trump's remarks. Back down Some of his most stern threats against Greenland. By 3:10 pm, spot gold had risen 0.3% to $4,778.51 an ounce. ET (2010 GMT), having reached an all-time peak of $4,887.82 in the earlier session. U.S. Gold Futures for February Delivery settled 1.5% higher, at $4.837.50 an ounce. The equity markets recovered after Trump retracted?a threat of imposing tariffs on several nations because of their stance towards Greenland. He said he had reached an outline of a deal on the future of the island with NATO. Bob Haberkorn, senior market strategist at RJO Futures, said: "So the announcement on the European tariffs then sent the stock markets higher. It erased most gains and put pressure on metals." You had a liquidation here, just based on the headline. It doesn't reverse the trend in any way. Gold prices, which are seen as a safe investment during times of economic and political uncertainty, have risen 64% since 2025, and 11% in the first half of 2026. Both conservative and liberal U.S. Supreme Court Justices Signal Scepticism towards Trump's attempt to fire Federal Reserve governor Lisa Cook, in a case?with independence of the central bank at stake. According to the majority of economists surveyed by,the Fed will likely hold its key rate for this quarter or possibly until Chair Jerome Powell's term ends in May. Gold that does not yield is a good investment. Silver spot fell by 3.6%, to $91.17 per ounce. It had previously reached a record of $95.87 on Tuesday. Silver's rise into the three-digit range is possible, given the current price momentum. But it won't be a one way move. Soni Kumari said that there could be a 'correction in prices, and volatility may be higher. Spot platinum fell 0.1%, to $2460.20 an ounce, after reaching a record of $2,543.99 per ounce earlier in the day. Palladium dropped 2.1% to $1.825.85.
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Kazakhstan CPC oil exports may remain restricted despite the steady Urals differential
The differential between Urals and Kazakhstan crude oil was stable on Wednesday. However, the CPC oil exports of Kazakhstan could be restricted as maintenance is completed on its main oil export route. CPC announced on Wednesday that maintenance work on Single Point Mooring-3 at its Russian Black Sea terminal was nearing completion. The shutdown of Tengiz?field - the main source of CPC Blend - may continue to restrict shipments. Three sources in the refining industry said that Indian refiners are reducing their 'Russian oil purchases' following discussions held at a government meeting to help speed up a U.S. India trade deal. Four sources with knowledge of the matter have confirmed that India's Reliance Industry Ltd, operator the world's biggest refining facility, will receive sanctions-compliant Russian oil in February and?March after an one-month break. PLATTS WINDOW * There were no bids or offers made for Urals, Azeri BTC, and CPC Blend on Wednesday, traders said. Due to bottlenecks, oil from Kazakhstan's vast Kashagan field was diverted for the first time to the domestic market. (Reporting and Editing by Nia William)
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The top cases in the US Supreme Court docket
The U.S. Supreme Court has a number of important cases on its docket during the current term. These include issues like presidential powers, tariffs and birthright citizenship. Other topics are race, transgender sportspeople, campaign finance laws, voting rights, LGBT “conversion therapy”, religious rights and capital penalty. The term began in October, and will run through June. Separately, the court has also acted in emergency cases in several cases that challenge President Donald Trump's policy. TRUMP'S FIRE OF FED OFFICIAL Justices expressed skepticism about Trump's attempt to fire Federal Reserve Governor Lisa Cook, a move that could threaten the independence of the central bank. The justices said they would not grant Trump's request for a judge to overturn a decision that prevented him from firing Cook immediately while her legal case played out. Congress created the Fed by passing a law, the Federal Reserve Act, that contained provisions to protect the central bank against political interference. The law stipulated that governors could only be fired "for cause" by the president, though it did not define this term or establish procedures for its removal. Trump claimed that Cook's firing was due to unproven allegations of mortgage fraud, which she has denied. Cook, who is still in her post, said that the allegations were a pretext for firing her because of monetary policy disagreements, as Trump pressures the Fed to reduce interest rates. The ruling is expected to be made by the end June. TRUMP TARIFFS During arguments on the 5th of November, the justices raised questions about the legality Trump's sweeping Tariffs. This case?with implications for global economic?marks a major test to Trump's power. Both conservative and liberal justices questioned the lawyer for Trump's administration on whether or not a 1977 law intended to be used during national emergencies had given Trump the authority he claimed to impose a tariff, or if the president infringed upon the powers of Congress. Some conservative justices emphasized the inherent power of presidents when dealing with foreign nations, indicating that the court may be divided on the outcome. Lower courts ruled Trump had overreached by invoking the 1977 International Emergency Economic Powers Act in order to impose tariffs. This was challenged by 12 U.S. States and various businesses. The ruling is expected to be made by the end June. Birthright Citizenship The court agreed to rule on the legality Trump's directive restricting birthright citizenship. This is a controversial part of Trump’s efforts to curb immigration, and would change the way a 19th-century constitutional provision was long understood. The lower court ruled against Trump's executive orders that instructed U.S. agencies to not recognize citizenship for children born in the U.S. when neither parent was an American citizen, or a legal permanent resident (also known as a "green-card" holder). The court found that Trump's directive violated the 14th Amendment of the U.S. Constitution and federal law codifying the birthright citizenship rights. This was in response to a class action lawsuit filed by parents and their children who felt threatened by this directive. Arguments in the case have not been scheduled. LOUISIANA ELECTORAL DISTRECTS The conservative justices of the court signaled on October 15, their willingness to undermine another key section in the Voting Right Act, the landmark 1965 legislation enacted by Congress in order to prevent racial bias in voting. This was during the arguments in a significant?case involving Louisiana's electoral districts. The case centers on Section 2 of the Voting Rights Act, which prohibits voting maps that dilute the power of minorities without proof of racism. The lower court found that the Louisiana electoral map, which divided the six U.S. House of Representatives district into two districts with a majority of Black people instead of one before, violated the Constitution promise of equal treatment. The ruling is expected to be made by the end June. Federal Trade Commission Firing The conservative justices of the court have indicated that they will uphold Trump's legality in firing a Federal Trade Commission Member and also give a "historic boost" to presidential power, while also putting at risk a 90-year old legal precedent. On December 8, the court heard arguments in the Justice Department appeal of the lower court's ruling that the Republican President exceeded his authority by dismissing Democratic FTC member Rebecca Slaughter before the term she was due to finish. The conservative justices seemed sympathetic to the Trump Administration's argument that tenure protections granted by Congress to independent agency heads unlawfully infringed on presidential powers under the U.S. Constitution. Trump was allowed to remove Slaughter until the case concluded. The court is expected to make a decision by the end June. TRANSGENDER SPORTS PARTIcipation The conservative justices seemed ready to uphold the state laws that ban transgender athletes to female sports teams, amid an escalating nationwide effort to restrict transgender rights. On January 13, the court heard arguments from Idaho and West Virginia in appeals of lower court decisions siding with transgender student who challenged the bans as being in violation of the U.S. Constitution, and a federal antidiscrimination act. 25 other states also have laws similar to Idaho's. The conservative justices expressed concerns over imposing a uniform law on the whole country, amid a sharp disagreement and uncertainty about whether medications such as puberty-blocking hormones or gender affirming hormones remove male physiological advantages in sport. The ruling is expected to be made by the end June. LGBT 'CONVERSION THERAPEUTY' During arguments on October 7, the conservatives of the?court appeared to be ready to support a challenge to a Colorado statute that prohibits psychotherapists from performing "conversion therapy", which aims to change minors' sexual orientation or gender identities. A Christian licensed counsellor challenged the law based on the First Amendment's protections from government abridgment. Colorado said that it regulates professional conduct and not speech and has the legal power to prohibit a healthcare practice they deem unsafe and ineffective. A lower court upheld this law. A decision is expected to be made by the end June. HAWAII GUNS LAW The conservative Justices expressed skepticism about a Hawaii gun law which restricts the carry of handguns on private property that is open to the public, as are most businesses. They appeared ready to expand the right to own a firearm again. On January 20, the court heard arguments in an appeal filed by opponents of the law, backed by Trump's administration. The challengers were appealing a ruling by a judge that Hawaii's Democratic backed measure probably complied with the U.S. Constitution’s Second Amendment right. Hawaii's law demands that a property owner "expressly authorize" the bringing of a handgun on private property. Four other states in the United States have laws similar to Hawaii's. The ruling is expected to be made by the end June. Drug Users and Guns On March 2, the justices will hear arguments from the Trump administration in a Texas case that involves a dual American/Pakistani national to defend a federal gun law which prohibits users of illegal drugs. Hunter Biden, son of former president Joe Biden, was charged under this law in 2023. The Justice Department appealed a lower court ruling which found that the gun restrictions were in violation of the Second Amendment rights to "keep and carry arms" guaranteed by the U.S. Constitution. The Gun Control Act, which was passed in 1968, prohibited gun ownership by drug users. CAMPAIGN-FINANCE On December 9, the court heard arguments in a Republican led bid to overturn federal spending limits by political parties coordinated with candidates. The case involved Vice President JDVance. The conservative justices seemed to be sympathetic towards the challenge. However, the three liberal members of the court appeared inclined to maintain the spending limits. The debate centers around whether federal limits on campaign spending coordinated with candidates' input violate First Amendment protections against government abridgment. Vance and Republican challengers have appealed the ruling of a lower court that upheld restrictions regarding the amount of money political parties can spend in campaigns, with input from candidates who they support. This type of spending is called coordinated party expenses. The ruling is expected to be made by the end of June. MAIL-IN-BALLOTS The Mississippi state court will hear the defense of a law that Republicans are challenging. This law allows for a five-day period to count mail-in votes received after Election Day. This case could lead to stricter voting laws in other states. A lower court declared illegal a state law that allows mail-in votes sent by certain voters be counted even if the postmark was made on or before Election Day, but they are received up to 5 business days after an election. Arguments in this case have not been scheduled. U.S. ASYLUM - PROCESSING - The court accepted to hear the Trump Administration's defense to the U.S. Government's authority to restrict the processing of asylum requests at ports of entry on the U.S. - Mexico border. The Trump administration appealed the lower court's ruling that the "metering policy" - which allowed U.S. Immigration officials to stop asylum seekers and refuse to process their claims at the border - violated federal laws. Former President Joe Biden rescinded the policy, but Trump has said that he would be open to resuming its use. Arguments in the case have not been scheduled. HUMAN RIGHTS ABUSES ABROAD HUMAN RIGHTS ABUSES ABROAD HUMAN RIGHTS ABUSES ABROAD - The Court heard an appeal from Cisco Systems, in which both the company and Trump administration asked the court to limit the scope of a federal statute that was used to hold companies liable for abuses committed by corporations abroad. Cisco appealed the 2023 ruling which gave new life to a lawsuit filed in 2011 accusing the California-based firm of developing technology allowing China's government surveillance and persecution of members of the FalunGong spiritual movement. The Alien Tort Statute was the basis of the lawsuit. This 1789 law had lain dormant in U.S. courtrooms for almost two centuries, before attorneys began to use it in the 1980s in international human rights cases. Arguments in the case have not been scheduled. CRISIS PRGNANCY CENTERS In a dispute arising from an investigation by the New Jersey Attorney General into whether or not these facilities engaged in deceptive practice, the court seems to be inclined to side with the Christian faith-based "crisis pregnancies centers" that are anti-abortion. During the December 2 arguments, a'majority' of the justices appeared to be inclined to revive a lawsuit filed by First Choice Women's Resource Centers against Democratic Attorney General Matthew Platkin's subpoena 2023 seeking information about the organization's doctors and donors. First Choice's facilities are designed to discourage women from getting abortions. The decision is expected to be made by the end June. RASTAFARIAN INMATE The conservative justices seemed inclined to reject the Rastafarian inmate's attempt to sue Louisiana state prison officials after they shaved him bald, in violation of religious beliefs. The case was argued in front of the court on 10 November under a federal statute protecting incarcerated persons from religious discrimination. Plaintiff Damon Landor's religion requires that he let his hair grow. He appealed the decision of a lower court to dismiss his lawsuit, because they found that he could not sue officials individually for monetary damages under the statute in question. The ruling is expected to be made by the end June. DEATH ROW INMATE The court heard arguments in December in an attempt by Alabama officials in order to pursue the execution. An inmate who was convicted of a murder in 1997 had been found to be intellectually handicapped and therefore ineligible for the death penalty. The Republican-led state has appealed a lower court ruling that Joseph Clifton Smith was intellectually disabled based upon his intelligence quotient (IQ), test scores, and expert testimony. In a 2002 Supreme Court decision, the court ruled that executing a person intellectually challenged violated the Eighth Amendment of U.S. Constitution prohibiting cruel and unusual punishment. The Supreme Court is expected to rule by the end June. FCC FINES FOR WIRELESS CARRIER The Justices will hear the dispute over fines levied by the Federal Communications Commission against major U.S. carriers who shared customer location data with other companies without their consent. This is the latest case that has reached the Supreme Court challenging the authority of an American regulatory agency. The case concerns the FCC's efforts to impose tens-of-millions-of-dollars in fines on carriers like Verizon Communications and AT&T before they had a chance in court. Arguments in the case have not been scheduled. COX COPYRIGHT DISSERT The court heard arguments in December in an attempt by Cox Communications, a provider of internet services, to avoid financial responsibility in a major copyright lawsuit brought by record labels who accused Cox of allowing its customers to piracy thousands of songs. Justices appeared to be skeptical about Cox's claim that mere knowledge of user piracy was not enough for it to be held liable for copyright violations. A lower court ordered that a new trial be held to determine the amount of money Cox owes Sony Music Group, Warner Music Group Universal Music Group, and other labels in relation to contributory copyright violations. Cox, which is the largest division of privately-owned Cox Enterprises said that the retrial may result in a verdict of up to $1.5 billion against it. The ruling is expected to be made by the end June.
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Chilean miners warn of risks associated with dual oversight by the economy and mining ministries
Chile's mining sector expressed concern on Wednesday, after President-elect Jose Antonio Kast appointed one minister to oversee mining and the entire economy. Kast appointed businessman Daniel Mas as the new Minister of Mining and Ministry of?Economy, Development and Tourism on Tuesday. Mas is the vice president of Confederation of Production and Commerce and has private sector experience in real estate, financial services and construction. However, he lacks mining expertise. The mining industry is the mainstay of Chilean economy, and it's a major source of tax revenue and exports. Kast was expected to appoint Santiago Montt as the new mining minister. Montt is the CEO of Los Andes Copper, and a former executive with global?miner BHP. Chile is the second largest lithium and copper producer in the world. Mining groups have questioned the decision to combine leadership of the two ministries. SONAMI (Chile's National Mining Society) said that it "didn't agree" with this decision, given the scale of unresolved issues in the mining sector. However, it expressed its hope that the incoming administration will ensure effective management of the portfolio. Manuel?Viera said that the appointment showed a lack in prioritization. Viera stated that this was an opportunity for a mining professional to be appointed to the position of portfolio leader. Today, mining is not given the respect it deserves, despite the fact that it is our national symbol and contributes to the public purse the most. Former President Sebastian Pinera combined the mining and energy ministries. Los Andes Copper had announced earlier that Montt would be nominated, and observers speculated this may have led to a surprise change. Arturo Squella of Kast’s Republican Party told a local station that the statement made by the company was "imprudent", and had probably influenced events. Chile's copper industry is facing declining ore grades, investment delays and a complicated?permitting system. Meanwhile, the debate over lithium investment and state-owned mining companies continues. Andres González, an analyst with?consultancy Plusmining said that Mas would likely focus on improving investment conditions and accelerating permits. "Mas has no direct mining experience," Gonzalez said. His dual role and business background will probably make him prioritize accelerating project approvals. This is something the new government views as crucial. (Reporter Fabian Cambero, editing by Cassandra Garrison, Paul Simao.)
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Copper prices rise due to tight supplies and increased demand
Prices of copper?rose? on Wednesday, after a sharp drop in the previous session. Traders and investors questioned the sustainability of demand, but investors focused on the tight inventory outside the U.S. As of 1700 GMT on Wednesday, the benchmark three-month copper price on London Metal Exchange had risen 0.4% to $12,796 a metric tonne, following a 1.6% drop on Tuesday. Metal prices reached a record of $13,407 a week ago. Neil Welsh, Britannia Global Markets' head of metals, stated in a recent note that "while the base metals complex is volatile, structural tightness will continue to underpin prices." The premium of the LME cash copper contract for the three-month ahead On Tuesday, the price of metal spiked above $100 per ton, signaling strong demand. However, on Wednesday, this spread was reduced to $23.50 per ton. DOUBS OVER WHETHER THE?RALLY WILL ENDURE Dan Smith said that markets were nervous about the global geopolitical situation after U.S. president Donald Trump threatened to impose a tariff on European allies who opposed his goal to gain control of Greenland. Smith, after copper rose by as much as 1,6% in the morning's trade, said: "I am a little dubious about this rebound." He added that his algorithm now gave him a buy signal. It suggests that any sort of strength will be temporary. China is the largest consumer of metals in the world. Yangshan copper's premium The gauge for Chinese demand for copper fell to $22 per ton. This is the lowest level in almost 18 months. Smith said that "China macro appears to be strong but copper prices can weaken the demand if not watched carefully." China exported 96,000 tonnes of refined copper to the world in December. This is a drop of around one-third compared to November's record shipments, but it was still five times more than a year ago. Tin gained the most on the LME. It increased by 3.9%, to $51,000 per ton, as Indonesia cracked down on illegal mining. Nickel jumped up 2.3%, to $17.995. Lead fell 0.2% and aluminium rose 0.5%. Zinc gained 0.2%, to $3.178.50, while lead dropped 0.5%, to $2.024. (Reporting and additional reporting by Lewis Jackson, Dylan Duan and Barbara Lewis; editing by Paul Simao, Barbara Lewis and Barbara Lewis).
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Gold prices rise above $4,800/oz amid geopolitical tensions
Gold reached $4,800 per ounce for the very first time Wednesday due to geopolitical tensions including U.S. president Donald Trump's bid for control of Greenland. By 11:30 am, spot gold had risen 1.6% to $4,838.91 an ounce. ET (1630 GMT), having risen as high as $4,887.82 in earlier sessions. U.S. Gold Futures for February Delivery climbed 1.7%, to $4.844.20 an ounce. Bob Haberkorn, senior market strategist at RJO Futures, said: "There is a fear that people will miss out on this opportunity. I believe given the geopolitical climate in the world right now it's an ideal storm for higher gold prices and higher silver prices." Investors digested Trump’s speech at?Davos in which he said Europe was heading in the wrong directions but denied using force to take over Greenland. The U.S. Supreme Court has heard appeals against Trump's unprecedented move to fire Federal Reserve governor Lisa Cook. This case tests the independence of the central bank. According to the majority of economists surveyed by,the Fed will likely?hold its interest rate throughout this quarter and perhaps until Chair Jerome Powell ends his tenure in May. Gold that does not yield is a good investment. Silver spot?fell from a record high price of $95.87 an ounce on Tuesday to $93.5. Silver's rise into the three-digit range is "looking very possible" given the current price momentum, but it won't be a one way move. Soni Kumari said that there could be a correction in the price and that volatility may increase. Spot platinum rose 2.5%, to $2,524.75 an ounce, after reaching a record of $2,543.99 per ounce earlier in the day. Palladium fell 0.3% to $1,859.50 after reaching its highest level in a week.
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Saudi Arabian crude oil exports rose to a record high of more than 2.5 years in November
Data from the Joint Organizations?Data Initiative revealed that Saudi Arabian crude oil exports reached their highest level for more than two and a half years in November. Crude oil exports from the world's biggest oil exporter rose to 7.378 millions barrels per day in November, a higher level than the 7.100 million barrels bpd recorded in October, and their highest level since March of 2023. Saudi Arabian crude production reached a record high of?about 10.50 million bpd during November. This is the highest level since April?2023. In October, the output was 10.002 millions bpd. Saudi Arabia and OPEC members provide monthly export data to JODI which then publishes it on its platform. JODI data show that the refinery crude throughput fell to 2.560 million barrels per day (bpd) in November. This is a 5.6% drop from October's figure of 2.712 millions bpd. Direct crude burning also decreased by 76,000 to 317,000 bpd. OPEC published data earlier this month indicating a near-balance in supply and demand for 2026. This is in contrast to other?forecasts that a major glut was expected. OPEC+ pumped a total of 42.83 millions bpd during December 2025. This is a decrease of 238,000 bpd compared to November. The reductions were attributed to Kazakhstan, Russia, and Venezuela. The report predicted that demand for OPEC+ oil will average 43 millions bpd by 2026. (Reporting by Anjana Anil in Bengaluru; Editing by Nia Williams)
Investors assess Trump's Greenland push and TSX gains as a result
Canada's major?stock index bounced back on Wednesday from the previous session's sharp drop, as investors digested new comments by U.S. president Donald Trump, who said in Davos that he wouldn't use force to take over Greenland.
As of 10:25 a.m., the S&P/TSX composite index was up by 0.4% to 32,880.61. ET.
The benchmark recorded its largest?decline on Tuesday since November 20, when global markets fell after Trump threatened to impose?tariffs?on?eight European countries if U.S. wasn't allowed to takeover Greenland. The comments revived the "Sell America," narrative that was last seen in April of last year after Trump's sweeping Liberation Day levies, and raised fears?over an U.S.-European trade war. The U.S.?president spoke at the World Economic Forum on Wednesday in?Davos.
Energy index led the gains on TSX. After losing 1% Tuesday, it jumped 2.9% to a high of nearly 12 years. Industrial stocks gained 0.6%, and the heavyweight index of financials added 0.5%.
The TSX, which is heavily weighted in resources and precious metals, has benefited from the surging prices of precious metals so far this season. However the Greenland standoff as well as Tuesday's sharp fall highlight that Canadian equities may not be immune to a risk-off global environment.
Angelo Kourkafas is a senior investment strategist with Edward Jones.
"Volatility is likely to be higher than in the previous?three-month period." It is encouraging, but also comforting to know that the basis for this bull-market remains solid. Individual stocks like Teck Resources rose 6.4%, after the copper mining company reaffirmed their production outlook for 2026.
Eldorado Gold gained a further 4.9% following the announcement that the gold miner had exceeded its production guidance for the prior year. (Reporting and editing by Jonathan Ananda; Utkarsh T. Hathi)
(source: Reuters)