Latest News
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Retraction: Correction Regarding MT Autan
On November 10, 2025, Offshore Engineer published an article titled “Sources say that India’s HMEL has issued a prompt tender to supply naphtha as Russian supplies are hit.” The article incorrectly stated that the vessel MT Autan was sanctioned by the European Union and the United Kingdom. This statement was inaccurate. Offshore Engineer Energy News hereby retracts that statement and confirms that the MT Autan is not sanctioned by the European Union, the United Kingdom, or any other authority. The article containing the incorrect statement has been removed from our website. We expressly apologize to Autan Shipping Limited for the error. Offshore Engineer/ Energy News Jan 16, 2025
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Israeli soldiers kill a Palestinian teenager in West Bank
The Israeli military confirmed a Palestinian boy, 14, was killed by Israeli soldiers after he hurled a rock at them. Officials from the Palestinian Authority have not made any further comments about the deadly incident that occurred in the village of Al-Mughayyir. The official Palestinian news agency,?WAFA, reported that the teen died during an Israeli military raid which led to confrontations. The Israeli military claimed that its forces were called to the region after receiving reports that Palestinians were 'throwing stones at Israelis, and blocking a highway with burning tires. The military claimed that the soldiers shot warning shots to try and repel the person who ran at them with a stone, then shot him and killed him in order to eliminate the threat. The violence in the West Bank has increased over the past year. Israeli settlers have intensified their attacks on Palestinians, and the military has tightened restrictions for movement in several cities. Palestinians have also attacked Israeli soldiers and civilians in some cases with deadly results.
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S&P 500 and Nasdaq are preparing for higher openings as chipmakers make gains at the end of a choppy week
S&P 500, Nasdaq and Dow Jones are set to open higher on Friday. Chipmakers have taken the lead in a volatile market week which also marked the start of fourth-quarter earnings. Memory chipmakers have led the way, with Micron Western Digital Seagate Technology, and SanDisk up between 3.6% and 5.0%, extending their explosive gains in 2025. The iShares Semiconductor ETF rose 1.8% on the Friday, extending its rally of nearly 12% so far this season, which has easily beaten Nasdaq's 1.2% gain. This shows investor confidence in AI-driven chip demand, even as money is shifting out of heavyweight tech companies into undervalued areas like small caps, industrials and materials stocks. Even after the S&P and Dow closed at new records on Monday, U.S. stock prices were limping towards modest weekly losses. The S&P 500 is hovering about 60 points short of the 7,000-point mark - which analysts have identified as a possible pocket of technical resistance. The fear of the potential fallout from a proposed cap on credit card rates for a year at 10% has weighed down on shares in lenders and the broader markets despite good quarterly results by big U.S. Banks. The financial sector is heading for its worst week in October. "Banks have set up this week to show that consumers are still spending money and there is nothing to worry about." "We will see if this is translating into more consumption," said Jason Barsema. The markets will be closed on Monday in honor of 'Martin Luther King Jr. Day. But the earnings season is set to pick up next week, with Netflix, Johnson & Johnson, and Intel all due to release their results. At 8:36 am. At 8:36 a.m. ET, Dow E Minis were down 8 points or 0.02%. S&P 500 E Minis were down 8.5 points or 0.12%. Nasdaq E Minis were 114 points or 0.44% higher. Concerns about threats to the Federal Reserve’s independence have resurfaced after Jerome Powell announced on Sunday that the Justice Department has opened a criminal probe into him. The Fed's pause in rate hikes was reinforced by a series of economic indicators released this week. LSEG data shows that traders are betting on the Fed to hold rates at this month's rate meeting. They have priced in a quarter point rate cut in July. Linh Tran is a senior analyst at XS.com. She said that the S&P 500 appeared to be sustaining an upward trend, but in a cautious way. "The most plausible scenario is a sideways trend with a cautiously upward bias." Further gains will depend on the growth of corporate earnings. The remarks of Fed Governors Michelle Bowman & Philip Jefferson will provide clues as to what voting members are thinking ahead of the U.S. Central Bank's January 27-28 meeting. J.B. Hunt Transport Services, among other stocks fell nearly 5% following the U.S. trucking company's report of a decline in revenue for its last quarter. PNC Financial rose 4.6% ?after beating fourth-quarter revenue estimates. State Street fell 3% following the announcement of a decline in profit for the fourth quarter. Independent power producers fell after a report stated that U.S. States experiencing a rapid expansion of data center construction would sign an agreement to reduce rising electricity costs with the Trump Administration. Constellation Energy and Vistra both fell by about 4% each. The U.S. Industrial Production data for December will be released later today. Reporting by Medha and Pranav Kashyap from Bengaluru, editing by Shinjini Ganuli and Maju Sam
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A new map shows hidden landscapes beneath Antarctica's ice sheets
Scientists have created the most detailed map of the terrain beneath the vast ice sheets covering Antarctica. They discovered an exuberant landscape with mountains, canyons valleys, and plains. Researchers used high-resolution satellite images and a technique called ice flow perturbation analysis to map the entire continent, including parts that had never been explored before. A better understanding of the subglacial landscape could help forecast the climate-related retreat in Antarctica's Ice Sheet. Research has shown that rough terrain, such as jagged mountaintops and hillsides, can slow the retreat. The study, published in the journal Science, was led by Robert Bingham, a glaciologist at the University of Edinburgh, Scotland. Researchers were able map subglacial terrains with unprecedented accuracy. They identified, for example, more than 30,000 previously unknown hills. These are defined as terrain protuberances that measure at least 50 meters (165 feet). Antarctica is about 40 percent larger than Europe and 50 percent larger than the United States. It also covers roughly half of Africa. In each case, these continents have a variety of landscapes, ranging from high mountain ranges to vast flat plains. Bingham stated that the hidden landscape of Antarctica contains these vast extremes. It isn't boring. The Antarctic Ice Sheet, the largest mass of ice on Earth, holds 70% of the freshwater in the world. The average thickness of the Antarctic Ice Sheet is about 1.3 miles (2 km) with a maximum thickness around 3 miles (4 km). Antarctica was not always covered in ice. The subglacial features were first sculpted by the continent before it acquired its icy cover more than 34 millions years ago, before they were further modified by the Dynamic Ice Sheet. Antarctica was once connected to South America, but it separated because of a plate tectonics process that involves the gradual movement on Earth's surface of continent-sized plates. The map showed a landscape with a variety of topographical features. "Perhaps the type of landscape many people may not be familiar with is 'plateaus divided by deep-carved valleys. This is a familiar landscape for Scots. It is also common in Scandinavia, northern Canada, and Greenland. The fact that our method has revealed a landscape across Antarctica that matches these landscapes so well gives us great confidence in the new map," Bingham explained. Researchers noted that the surface of Mars had been better mapped until now than the subglacial terrain in Antarctica. Scientists traditionally map the subglacial terrain using radar equipment mounted on planes or towed behind snowmobiles. According to Helen Ockenden, glaciologist and lead author at the Institut des Geosciences de l'Environnement, France. Ockenden stated that "these surveys often have gaps of up to 150 miles (93 km) and as much as 5 km (3.1miles) between them." Ockenden stated that the method used in the new study is "really exciting" because it allows us combine the mathematics behind how the ice moves with high-resolution observations of the surface of the ice. This allows us to determine what the landscape under the ice must look like across the entire continent, even in those survey gaps. We can now see how the various landscape features are connected. Researchers hope that the map will inform models used to predict future sea level rise, as well as forecasts made by the IPCC (the U.N. Intergovernmental Panel on Climate Change), which provides data to governments to help shape climate-related policy. Bingham said, "We now can also better identify where Antarctica requires more detailed field surveys and where it doesn't."
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The world shares are nearing record highs due to geopolitical tensions and AI optimism
As international tensions simmered on Friday, global stocks hovered around record highs. The?dollar also held close to a six-week peak as traders reduced bets about Federal Reserve interest rate reductions. Gold, the safe-haven, was little changed. Oil prices, however, rebounded after a previous decline, as U.S. president Donald Trump, who had earlier threatened intervention, adopted a "wait-and-see" attitude toward Iran. Since the beginning of the year, the markets have been focusing on international politics following Trump's actions in Venezuela and threats to takeover Greenland. Michael Brown, Senior Research Strategist at Pepperstone said: "Although we seem to have dialled down the likelihood of U.S. Intervention in the Middle East, I don't believe we can completely rule it out." US PUBLIC HOLIDAY CURBS MARKET ACTIVITY Brown stated that market participants might lack confidence ahead of Monday's Martin Luther King Jr. Day U.S. holiday. He said: "I would not be confident if I were running a long-risk book or short-crude for a three-day holiday with Middle East tensions this high." After reaching a record-high on Thursday, the pan-European Stoxx 600 Index was down 0.1%. The Stoxx 600 index is on track to finish the fifth week in a row in 'positive territory,' extending gains from the end of the year 2025 into this new year. The CAC 40 in France was down 0.7%, lagging behind regional peers due to political uncertainty. French government postponed Friday talks on its budget for 2026 because lawmakers failed to reach an agreement. U.S. Stock Futures point to a strong start on Wall Street. A week of earnings will conclude with State Street's results. In 'Asia', indexes dominated by tech in Taiwan and South 'Korea reached all-time highs as stellar results from Taiwanese semiconductor maker TSMC revived AI trade. U.S.-Taiwan trade agreement signed on Thursday reduces tariffs for many semiconductor exports and directs investment towards U.S. tech industry. It could also anger China. Tony Sycamore is a market analyst for IG. He said, "I think with the TSMC's report yesterday sounding pretty solid and optimistic, it provided a much needed shot in the arms for those AI names that have struggled on Wall Street over the past few months." The U.S. premarket Trading showed that semiconductor stocks were on course to extend their AI fueled rally, as Intel and Nvidia began to edge up. TRADERS WATCH FOR YEN INTERVENTION The yen has been the focus of attention on the currency markets since Japanese Finance Minister Satsuki Catayama stated that Tokyo would not exclude any options for countering excessive volatility in foreign exchange, including coordinated intervention with the United States. Her comments boosted the yen a little. After a report that stated some Bank of Japan policymakers are open to raising interest rates earlier than the markets expected, April is a possibility. Dollar was down by 0.3% last time at around 158yen. Investors are betting that a snap Japanese election could be held as early as next month. This would lead to a fiscal stimulus by Prime Minister Sanae Takaichi. Dollar hovers 'near a 6-week high following U.S. Economic releases this week, including data showing that the number of Americans who filed new unemployment benefit applications unexpectedly dropped last week. The dollar was at 99.21 against a basket currency, which is close to its peak of 99.493 on Thursday, its highest level since early December. The markets have priced in 20% of a Fed rate reduction in March. This is down from 50% about a month earlier. Prices on the oil market rose slightly, as supply risk remained a focus despite the decreasing likelihood of an American military strike against Iran. Brent crude and U.S. West Texas Intermediate traded at roughly 1.2% higher. Gold spot was stable at $4,611 per ounce and recouped some of its earlier losses. (Reporting from Sophie Kiderlin and Rae Wee, in London; editing by Dhara Ranasinghe & Andrew Heavens).
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What is the current status of Iran's nuclear facilities?
The White House reported that regional fears about a U.S. strike on Iran were eased when President Donald Trump stated that Tehran assured him protesters wouldn't be executed. However, he still has "all his options" on the table. Israel and the United States carried out their last major strike on Iran in June, targeting mainly key nuclear facilities. Which nuclear sites were hit? The three uranium enrichment plants in Iran - two at Natanz, and one hidden inside a mountain near Fordow – as well as the sprawling Isfahan complex that includes a number of?facilities?that are part of the nuclear energy cycle?and an underground storage area where diplomats claim much of Iran’s enriched Uranium is stored. How bad was the damage? Since the bombing of Natanz and Fordow, the U.N. Nuclear Watchdog has been denied access to these facilities. It was responsible for regular inspections. The exact condition of those facilities which were damaged is still unknown. In its quarterly report for Iran, published in November, the International Atomic Energy Agency stated that seven of the declared nuclear installations were "affected" by the'military attack' and thirteen were not. These reports don't elaborate on the damages. IAEA announced shortly after the bombings that the Pilot Fuel Enrichment Plant?at Natanz was destroyed. IAEA said that it is likely that the underground facilities at Natanz or Fordow have been at least severely damaged. The extent to which Iran's nuclear program has been weakened is a matter of debate. Trump has repeatedly claimed that Iran's nuclear facility was destroyed, but IAEA Director General Rafael Grossi stated in June that Iran can start enriching uranium on a smaller scale again within months. WHAT HAPPENED TO IRAN'S ENRICHED URANIUM? It's not clear. Iran is yet to report to the IAEA what happened to its destroyed facilities and enriched uranium stock despite the agency saying that it was urgent and long overdue. Only after that can the IAEA confirm it. "I think there's a general consensus that the material, in its entirety, is still there. It is important to verify the material. Grossi said in September that some could have been misplaced. Diplomats claim that little has changed since then. Grossi said, "We have no indications which would lead us into believing that there was a major movement of materials." Iran had been enriching uranium up to 60% purity. This was a small step away from the 90% weapons grade. According to the IAEA, Iran had 440.9kg of uranium at that level when bombing began. According to IAEA standards, that is enough uranium in theory for 10 nuclear bombs, if further refined. The uranium is also enriched at lower levels. The IAEA doesn't report where Iran stores this material. Diplomats report that the damage to one key underground storage facility at Isfahan is limited to strikes to the tunnel leading to it. WHAT CONCERNS REMAINS? The United States and Israel cited the fact that Iran was too close to producing a nuclear bomb as a reason for their bombings. Uranium, when enriched to weapons grade can be used as the core for a nuclear weapon. The uranium can be used as fuel for nuclear power plants, depending on the level of enrichment. Western powers claim that there is no civil justification to justify Iran's enrichment?to a fissile-level so high, and IAEA says it is a serious concern. No other country in the world has ever done this without producing nuclear weapons. Before the attacks, the IAEA had said that it did not have any credible evidence of a coordinated programme for nuclear weapons in Iran. There was also much discussion about the time it would take Iran to build a nuclear bomb if they chose to. Tehran denies ever seeking nuclear weapons. It has the right, as a signatory to the Nuclear Non-Proliferation Treaty (NPT), to enrich for research or nuclear power, so long as the process is not weaponised. Unknown numbers of centrifuges, machines that enrich uranium, are stored in unknown locations by Iran. Iran's enriched uranium is now unaccounted for. This could lead to the country secretly combining it with weapons-grade uranium in violation of NPT obligations. It appears that the cat-and-mouse game of hunting for Iran's stockpile of enriched uranium will likely continue for some time. Mark Heinrich edited this article.
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Gold prices fall as US data and easing geopolitical tensions dampen momentum
Gold prices extended losses ?from the previous session on Friday, as stronger-than-expected U.S. economic data and ?easing ?geopolitical tensions in Iran hampered bullion's bullish momentum. By 1217 GMT, spot gold had fallen 0.1% to $4610.86 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 Wednesday. U.S. Gold futures for delivery in February edged down 0.2% to $4,615. Carsten Menke, Julius Baer analyst, said: "There used to be a lot of momentum in the gold market. It seems that it has waned a bit at the moment ....the recent economic news out of the U.S. is creating more headwinds than tailwinds, and this can be seen?in the slightly stronger U.S. Dollar." The U.S. Dollar hovered at a six-week peak on the back of positive economic news on Thursday. Initial jobless claims fell 9,000 to 198,000 seasonally adjusted last week, which was below economists' expectations of 215,000. The greenback price of bullion is more expensive to overseas buyers due to the stronger dollar. Geopolitically, Iranians contacted by the media on Wednesday and Friday said that protests had abated since Monday. Gold is a safe-haven during periods of economic and geopolitical uncertainty. Gold demand in India was muted this week, as prices reached record highs, reducing the appeal of retail purchases. In China, bullion trades at a premium as demand remains steady ahead of the Lunar New Year. Spot silver fell 1.6% to $90.82 an ounce. However, it was on track for a weekly increase of more than 13% following its all-time high price of $93.57 the previous session. "The silver price seemed to be 'determined to reach $100 per ounce before slipping back down ....speculative traders are keeping an eye out for that level, even though it wouldn't be sustainable on a medium- to long-term basis," Menke said. Spot platinum fell 3.2% to $2.332.70 an ounce and was expected to rise more than 2.7% this week. Palladium fell 2.6%, to $1,754.35 an ounce. It had hit a low of more than a week earlier. The metal was heading for a loss of around 3.5% on a weekly basis.
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Mali's gold production plunges by 23% after Barrick halts operations and tougher rules are implemented
Mali's industrial?gold?output declined 22.9% in the year 2025 due to the long?suspension? of Barrick Mining operations because of a dispute about tougher mining regulations, according to preliminary figures released by the West African nation's Mines Ministry. Mali is one of Africa's biggest gold producers. It has been pushing for reforms to increase the value of this sector. This was enshrined into a mining code that was introduced in 2023. The government announced in December that a sweeping audit had led to the recovery by mining companies of arrears amounting to 761 billion CFA francs (US$1.2 billion). The tougher rules ruffled some miners, which led to a two-year standoff between Barrick and its massive Loulo Gounkoto 'complex.' A deal was finally struck late last year after the Canadian company placed Loulo Gounkoto under temporary administration. The two-year standoff affected the sector's sentiment and disrupted production across the industry. This offset gains from new entrants to the mining industry and the expansion of small-scale industrial miners, according the data seen on late Thursday. The data shows that industrial production dropped to 42.2 tons from 54.8 tons when updated in 2024. Mali's industrial output of gold peaked at 66.48 tonnes in 2023. Mali's largest gold producer, Loulo-Gounkoto, reopened under an appointed state administrator in July. However, persistent logistical problems limited output to just 5.5 tonnes in 2025. This is down from 22.5 tons the year before. B2Gold surpassed Barrick as Mali's top gold producer by 2025. Allied Gold, boosted 'by its new large mine Korali-Sud along with its Sadiola Mine, ranked second, followed by Barrick -with 5.5 tons. The artisanal gold production remained at six tons in 2020. Total national production in 2025 was 48.2 tonnes, which is 22.7% less than the original 54-ton government forecast.
Sources say that the premium on Japan Q1 aluminum has more than doubled to $195/T due to fears about a shortage.
Five sources involved in the price talks confirmed that the premium for aluminum shipments to "Japanese" buyers for the period January to March is $195 per ton. This represents a 127% increase from the previous quarter and reflects fears about a tight supply.
Early December saw the latest round of quarterly price negotiations between Japanese buyers, Rio Tinto and South32. Normally, talks end before the beginning of the next quarter. However, this round lasted into the new calendar year because there was a large gap between the buyers and sellers.
The premium paid for the January-March quarter is significantly higher than the $86/ton paid during the October-December period and represents?the first increase in a calendar year. The premium was below the second-round producers' offers?of $210 to 225 per ton but above some initial offers?of $190 to 203 per ton.
Japan is the largest Asian importer for premiums and light metals
Sources said that the premium increase reflects the concern over a tighter supply. This is especially true after South32 decided to mothball Mozal Aluminium Smelter in Mozambique, in March. They had failed to reach an agreement on power supply with the government.
A source from a trading firm said that despite the weak demand in Japan spot premiums had risen due to supply concerns to $170 per ton.
We said that we would not be able to ship metal into Asia until premiums were increased. This was after hearing about the Mozal production stop.
The source said that "buyers resisted the prices of $200, so we settled on $190s to avoid lengthy negotiations."
Sources declined to identify themselves due to the sensitive nature of the issue. (Reporting and editing by Joe Bavier, Susan Fenton and Yuka Obayashi)
(source: Reuters)