North America


Energy Markets

Vistra beats fourth-quarter core profit estimates on AI-driven power demand

Vistra Corp, a power producer, beat Wall Street's expectations on Thursday for its fourth-quarter core profit?adjusted? as an?AI driven surge in electricity consumption from data centers?fueled earnings. The U.S. is expected to?increase its power consumption?increase?increasingly this year and next year, due to the rapid expansion in data centers for artificial-intelligence services and cryptocurrency and the switch from gas and oil heating and transportation. The big?tech companies are also looking for long-term contracts with electricity suppliers to power AI-driven services and data centres. Meta Platforms has signed a 20-year contract to purchase power from Vistra's three nuclear plants located in the...



Power Markets

Schneider exceeds expectations in profit as demand for data centers offsets the weak dollar

French industrial group ?Schneider Electric on Thursday reported stronger-than-expected core earnings, driven by robust ?data centre demand, supporting its 2026 outlook despite pressure from a weakening ?dollar. In its data center segment, the group saw a triple-digit growth year-on-year. Quarterly revenues increased organically by 10.7%, to 11,10 billion euros ($13.12billion). The adjusted full-year earnings before interest taxes and amortization (EBITA), totaled 7,52 billion euros. The company polled analysts who expected an average revenue of 10.90 billions for the fourth quarter and a full-year adjusted EBITDA of 7.48 billions. Hilary Maxson, CFO of the company, told the media that while the...


Power Markets

Schneider exceeds expectations in profit as demand for data centers offsets the weak dollar

French industrial group Schneider Electric on Thursday reported stronger-than-expected core earnings, ?driven by robust data centre demand, supporting its ?2026 outlook despite pressure from a weakening dollar. The group saw a triple-digit growth year-on-year in demand for the 'pure' data centre segment, leading to a 10.7% organic increase in total quarterly revenues of 11.10 billion euro ($13.12billion) and adjusted full-year earnings before interest taxes and amortization (EBITA) at 7.52 billion. The company polled analysts who expected an average revenue for the fourth quarter of?10.90 Billions and a full-year adjusted EBITDA of 7.48 Billions. Schneider, once known for its 'industrial components,...




Energy Markets

Fossil Fuels

Fossil Fuels

Russian rouble weakens after government flags budget changes

MOSCOW, February 26. The Russian rouble fell against the U.S. Dollar on Thursday but rebounded against China’s yuan after a swoon the day before when the government announced changes in the current budget because of?falling energy revenues. Finance Minister 'Anton' Siluanov announced on Wednesday that more money would be diverted into the fiscal reserves fund to avoid its depletion. This move implies that the state will reduce the sales of foreign currencies, which has supported the rouble. The?rouble has weakened sharply in the second half on Wednesday. This movement was primarily driven by statements regarding plans to lower cutoff prices...

Fossil Fuels

Travel advisories are being issued by countries in the Middle East as tensions with Iran rise

A number of countries have started to withdraw?dependents and non-essential personnel from certain?locations? in the Middle East or advised citizens not to travel?to Iran?, due to rising tensions between Washington, D.C. and Tehran. Here are some of the moves. AUSTRALIA - The Australian government has advised dependents of Australian diplomatic staff in Israel and Lebanon that they should leave these two countries due to a deteriorating regional security situation. The government also offered voluntary departures for the dependents of Australian diplomats in the United Arab Emirates (UAE), Jordan, and Qatar. It continues to encourage citizens of Israel and Lebanon who...

Oil & Gas

Travel advisories are being issued by countries in the Middle East as tensions with Iran rise

Amid the rising tensions between Washington and Tehran, several countries have started to withdraw dependents of diplomats and 'non-essential personnel from certain locations in?Middle East. Or they advise citizens to postpone travel to Iran. Here are some of the most popular moves: AUSTRALIA - The Australian government has advised dependents of Australian diplomatic staff in Israel and Lebanon that they should leave these two countries due to a deteriorating regional security situation. The government also offered voluntary departures for the?dependents of Australian diplomats in the United Arab Emirates (UAE), Jordan, and Qatar. It continues to encourage?citizens of Israel and Lebanon...

Oil & Gas

Senate Democrats blast Trump over failing to apply sanctions to Russia

Democrats in the Senate Banking Committee criticized President Donald Trump on Tuesday for not stepping up sanctions against Russia to force it to end the four-year war in Ukraine. They noted that the European Union had?designated nearly 900 targets by 2025, compared to only two?for?the?U.S. Democratic staff from the Republican-led panel released an analysis on the fourth anniversary. They identified hundreds of targets that Trump could have sanctioned during his first year as president. The war in Ukraine, Russia’s western neighbor, has caused the deaths of hundreds of thousands of people and ravaged large areas of Ukraine. They said that...

Fossil Fuels

McGeever: Watch out for the oil's disinflationary drag disappearing

Since mid-2024, oil prices have consistently been a disinflationary factor for the U.S. economy and global economy. This may soon change. Brent and West Texas intermediate crude oil futures are at their highest level in almost seven months, fueled by signs of an economic?upturn? at the beginning of the year as well as simmering tensions between the U.S. and Iran that could lead to a military conflict. WTI rose to?above $67 per barrel on Friday, and Brent reached $72, bringing their gains for the year so far?to?around 15%. More importantly, from an inflation-calculation perspective, oil's rise means the year-on-year increase...

Oil & Gas

US Supreme Court will hear Exxon's and Suncor's bid to dismiss Boulder's climate lawsuit

The U.S. Supreme Court has agreed to hear ExxonMobil and Suncor Energy's bid to quash a lawsuit filed by Boulder, Colorado officials who want to hold oil companies responsible for climate change. The Supreme Court heard an appeal from the companies against a ruling of the lower court that allowed the lawsuit to proceed. The lawsuit alleging violations of state law by the companies seeks unspecified damages for "costs incurred" by Boulder in mitigating climate change. Boulder is just one of the dozens of climate-related cases filed by U.S. states against companies that produce, extract, distribute, or sell fossil fuels....

Fossil Fuels

Solar panels from India and Indonesia will be subject to tariffs by the US

The U.S. Commerce Department will announce a preliminary decision Monday on whether to impose antisubsidy duty on solar 'cells and panels' imported from India, Laos, and Indonesia. This announcement is one of two that the agency will make in the next few weeks regarding a trade dispute brought by a small group in the U.S. solar industry. Commerce will 'likely make final decisions later this year. The decision on Monday will examine whether the companies in these three countries have received unfair government subsidies, which make American products less competitive. Commerce will make a decision on a separate issue next...

Fossil Fuels

Goldman raises Q4 oil price outlook on lower OECD stocks

Goldman Sachs has raised their Brent and West Texas 'Intermediate Crude Forecasts for the Fourth Quarter of 2026 by $6 each to $60 and $56, respectively. They cited lower OECD stock levels, while continuing to assume that there will be no 'Iran-related disruption in supply and maintaining a view of a surplus. It now expects Brent oil to average $64, up from $56 before, and WTI oil to average $60. As the U.S. prepared for a third nuclear?talks with Iran, fears of escalating violence were eased. Brent crude futures traded at $71 a bar at?0641 GMT while U.S. WTI futures...

Fossil Fuels

Alberta to hold referendum on immigration control

Alberta will be holding a referendum in the fall to ask its residents if their government should limit "the number of" new international students and temporary foreign workers arriving in this oil-rich Canadian Province. Premier Danielle Smith announced the move in a television address on Thursday night. It was an attempt to take control of this important issue away from the federal government. Ottawa is responsible for the majority of immigration policy in Canada, and not the provinces. Smith is also trying to stop a growing Alberta separatist movement that has threatened Canadian unity, as Mark Carney tries to improve...

Oil & Gas

US lawmakers prepare to vote on Iran war powers as Trump considers strikes

Congress may vote next week on whether to prevent 'President Donald Trump' from striking Iran without the approval of lawmakers. The U.S. Military is preparing for a possible serious conflict with Iran if diplomacy fails. Members of Congress have repeatedly tried to pass resolutions, which would prevent Trump from taking military action without the approval of lawmakers. The Constitution of the United States gives Congress, not the president, the power to send U.S. troops into war. The Constitution gives Congress the power to send U.S. soldiers to war, except for limited strikes to protect national security. Last week, it was...

Fossil Fuels

Berlin can now take control of Rosneft German assets

The European Commission approved a new trusteeship on Friday that will give Berlin long-term control of the German assets owned by the Russian oil group Rosneft. This is part of the efforts to find a structural solution for the company. After the Russian invasion of Ukraine, Germany's long-standing energy relationship with Russia was shaken. It is necessary to renew the trusteeship every six months in order to?preserve energy security'. This creates uncertainty, mainly regarding the PCK Schwedt Refinery which supplies the majority of fuel to Berlin. The current trusteeship ends on March 10, 2019. The transaction that was examined by...

Mining

Anglo American suffers $3.7 billion loss due to De Beers writedown

?Anglo American reported a $3.7billion loss?on Friday, after taking a?writedown?on its diamonds' business. The miner is pushing ahead with its plans to shed its non-core assets as well as complete its merger with Teck Resources. Anglo has wrapped up the mixed reporting season of London-listed mining companies, highlighting the divergent fortunes in this industry. Antofagasta, for example, benefited from rising copper prices, while other diversified groups struggled to cope with weaker markets for iron ore and diamonds. The company declared a $0.23 dividend per share or about $200 million. It booked a $2.3billion pre-tax impairment related to its De Beers...

Crude Oil

Crude Oil

MORNING BID AMERICAS - Nvidia's damp squib

What's important in the U.S. and international markets today by Mike Dolan Editor-at-Large of?Finance and Markets Nvidia beats the street once again, but this time there was no market fireworks. The AI giant's stock soared 3% in a matter of hours after?surpassing analysts' revenue forecasts for the last quarter and the one to come. But, they've since given most of this back. Questions continue to be raised about the narrowness of customer base and rising competition for the chip giant. Below, I'll go into more detail. Check out my most recent column about the main obstacle to deeper EU-China trading...

Oil Storage

Oil prices rise as tensions between the US and Iran keep supply risks front-and-center

The price of oil climbed Thursday as investors hoped that U.S. and Iranian talks would avert a conflict which could disrupt supply. However, gains were capped due to a 'build-up in U.S. crude stocks. Brent futures traded at $71.12 a barrel at 0123 GMT, up 27 cents or 0.3%. WTI futures increased by 23 cents or 0.4% to $65.65. Brent rose 8 cents Wednesday while WTI dropped 21 cents. Brent reached its highest level since July 31, and WTI also rose to the highest level since July 31. Both contracts have remained?near these levels, as Washington has deployed military forces...

Crude Oil

Asia shares surge in relief rally after Nvidia beats street

Asian stocks rose on Thursday, after Nvidia's upbeat results soothed concerns about AI-driven disruptions and rising costs. The yen, however, was weighed down by an uncertain rate outlook in Japan. Oil prices remained high due to lingering concerns about the escalating geopolitical tensions that could arise between the U.S. Nvidia forecasted first-quarter revenues above market expectations on Wednesday, betting that Big Tech would continue to spend on its AI processors. Investors were closely watching the result. It was a relief to see that companies weren't spending as much money on AI. This helped Japan's Nikkei reach a new record early...

Electric Utilities

Mineral Resources

Mineral Resources

Copper prices fall from two-week highs as stocks rise and temper demand optimism

The price of copper fell on Thursday, after reaching a two-week high in the previous session. A stronger dollar and rising inventories dampened expectations about a recovery in demand from China, the top consumer of the metal in the world. In official open outcry, the benchmark?three-month?copper price on the London Metal Exchange fell 0.3% to $13,286 a metric ton. The metal had reached $13,350 during the previous session. This was the highest level since February 11. Shanghai Futures Exchange also saw a similar high overnight. The Chinese have returned to the market since the first day of the Lunar New...

Mineral Resources

Mexico's Cemex will buy US stucco manufacturer Omega in a US building materials push

Mexico's Cemex announced on Thursday that it would?buy U.S. based stucco producer Omega Products?International, as part of a broader push to?offer additional building materials in its largest market. Cemex said that Omega, a privately-held firm with four locations in western U.S. generates approximately $23 million in core earnings a year, but did not reveal the purchase price. The transaction is expected to close during the first quarter. The CEO of Cemex, Jaime Muguiro, said that the purchase was in line with the company's U.S. Growth Strategy. He added that the acquisition would complement Cemex's existing operations because Omega's plants are...

Mining

Sources say that global aluminium producers are seeking premiums between $220 and $250/t from Japan buyers for Q2

Three sources reported on Thursday that global aluminium producers offered Japanese buyers premiums between $220 and $250 per metric tonne for shipments from April to June. This is an increase of?13% - 28% over the current quarter, reflecting higher overseas premiums. Japan is one of the largest Asian importers of metal. The benchmark for the region is the premium it pays for primary metals over the London Metal Exchange's cash price each quarter. Japanese buyers have agreed to pay $195 per ton as a premium for the quarter January-March The increase in sales is due to fears of a tightening...

Mining

Wall Street Journal, February 26,

These are the most popular?stories from the Wall Street Journal. The Wall Street Journal has not?verified?these stories or?guarantee their accuracy. The Washington Post has lost more than $100 million in the last year due to financial problems that led to the decision to reduce staff by 30% at an earlier date this month. BlueScope Steel, a company based in Australia, said that the revised 'A$15 billion (10.69 billion dollars) proposal by the U.S. Steel Dynamics consortium and 'SGH' does not address the valuation concerns of the firm. It added that there are other ways to increase shareholder value. Wayve, a...

Mineral Resources

BlueScope's revised $10.7 billion bid is not enough but they are willing to negotiate with buyers

BlueScope Steel shares in Australia fell almost 5% on Thursday, after the company said that a re-evaluated A$15 billion bid ($10.7billion) from SGH and U.S. based Steel Dynamics was not enough to win its approval. BlueScope said that it "remains" open to engaging with consortium in order to come up with a bid which reflects the "fair value of BlueScope", as opposed the the revised A$34 offer per share. After a $1 special dividend announced in January, and BlueScope’s A$0.65 interim dividend per share, the value of this bid has been reduced to A$32.35. BlueScope said that it plans to...

Mining

Ghana targets 127 tonnes of artisanal Gold annually under reforms

Ghana's Finance Minister said that the country plans to transfer 127 metric tonnes of gold per year from small-scale artisanal mining to official trade as part of revised sector reforms. This will boost foreign exchange earnings and reduce smuggling losses. African countries suffer from major gold leakage due to ASM. They lose billions of dollars in revenue every year, as undeclared and smuggled gold is transported through porous border crossings into global hubs like Dubai. According to Swissaid, Ghana's non-profit foundation, it is the continent's largest gold producer, Ghana has lost about $11.4 billion between 2019-2023. ARTISANAL SILVER TO RECOVER...

Power Markets

Eagle Nuclear Energy, a uranium-explorer, begins trading after the SPAC merger

Eagle Nuclear Energy shares rose 14.6% on Wednesday afternoon after it began trading on the Nasdaq. This was following the merger of the blank-check firm, Spring Valley Acquisition Corp II. This listing comes at a time when nuclear energy is gaining traction in the U.S. after decades of stagnation. The surge in electricity demand for power-hungry centers has been a major factor. Eagle Nuclear's flagship Aurora project is one of the U.S.'s largest undeveloped uranium reserves, located along the border between Oregon and Nevada. Mark Mukhija, CEO of the project, said that there are no 'offtake agreements' yet, but it...

Mineral Resources

Copper reaches two-week high after US tariffs strike down

The copper price rose to a two-week high on Wednesday, as growth and demand optimism dominated. This was after the U.S. Supreme Court ruled that President Donald Trump could not impose sweeping'reciprocal tariffs. At 1706 GMT, benchmark copper on the London Metal Exchange was?up 1.1% to $13,318 per metric ton after reaching $13,335 in the previous session. This is the highest level since February 11. The U.S. Supreme Court struck down last week tariffs that Trump imposed under a law intended for use during?national emergency'. David Wilson, BNP Paribas commodities analyst, said that the Asian markets benefitted from the Supreme...

Mining

Andy Home: Cobalt limits in the Congo expose China's weakness with critical metals

China's dominance in critical mineral supply chain is not as absolute as it might appear. Cobalt is an example. According to the International Energy Agency, China will account for 78% global refined output of battery metal by 2024. It lacks significant mining capacity at home, making it heavily dependent on imports. The export controls of the Democratic Republic of Congo have exposed this vulnerability. This is the biggest?source of cobalt intermediate products? for Chinese processors. Congo suspended exports of cobalt in February and implemented a quota-based system in October. The fourth quarter of the year saw a near-standstill in shipments...

Mineral Resources

As China returns from its holiday, copper prices hit their highest in over a week

The copper price rose on Tuesday to its highest level in more than a month, fueled by a positive mood and a stronger demand from China, the world's largest metal consumer, after markets reopened following a holiday. Benchmark?copper for three months on the London Metal Exchange?had gained 2.4% by 1700 GMT to $13,182 per metric ton after reaching its highest price of $13,196 since February 12. LME copper fell 0.7% on Sunday, but has gained 22.5% over the last three months. However, it is still well below its record high of $14,527.50, set on January 29. Alastair Munro is a...

Mining

Aluminium manufacturer Alcoa wants to sell 10 data centres

Alcoa Corp, a U.S. aluminum company, is planning to sell 10 of its sites that have been closed or reduced to a minimum to the data center industry. The first sale will be completed by the end of June, according to its CEO. The data centres that are consuming more electricity than aluminium producers will be a fierce competitor for their supplies. But the surge in demand for energy also presents an opportunity to sell stakes at some sites selected because they are close to "plentiful" energy sources. Century Aluminum, Alcoa's rival, sold its unused Hawesville smelting plant to a...

Mining

EU Trade Chief: EU will face a transition period after Trump's tariffs move

The European Union faces a "transitional phase" of a few weeks in its relations with the United States. Maros SEFCIOC, European Trade Commissioner, said that President Donald Trump’s new “import surcharge” threatens to undermine a trade agreement the two sides reached last year. The EU's trade chief said at a hearing before the European Parliament, that his counterparts in the United States, Trade Representative Jamieson Greer, and Commerce Secretary Howard Lutnick had assured him that they were committed to last year’s agreement. He said that the surcharge would be in effect for 150 days and there was a deadline of...