North America

Shell's CEO for Brazil told reporters that the conflict between Israel and the United States with Iran presents "enormous opportunities" to attract investment to develop Brazil's oil assets. Cristiano Pinto Da Costa, who is a Brazilian politician, said that Brazil's geopolitical stabilty and its track record as a reliable oil-producer give it a definite 'advantage' over other countries, even though he acknowledged the country had limited capacity to increase production in the short term. Brazil will likely benefit "over the medium to long term", he said, touting the record investments made by the London listed oil major of $12.5 billion...

The majority of Gulf'stock markets fell Tuesday. Qatar's benchmark continued to fall after the country stopped liquefied natural gas production amid a escalating air war in the area, and Egypt also?fell? for a third consecutive day. Israel expanded its campaign by launching new strikes against Iran and Hezbollah. Meanwhile, Iran launched missiles and drones towards Israel, several Gulf States and a British base in Cyprus. QatarEnergy's, a state-owned company in Qatar, whose 82% clients reside in Asia, had planned to declare force majeure for its LNG shipments following Iranian drone attacks against facilities at the sprawling Ras Laffan Complex. Qatar...

The majority of Gulf stock markets fell on Tuesday. The benchmark Qatar index continued to decline after the country stopped?liquefied gas production amid an escalating air conflict in the region. Israel has 'extended' its campaign by launching new attacks on Iran and Hezbollah. Meanwhile, Iran launched missiles and drones at Israel, several Gulf States, and a British base in Cyprus. QatarEnergy's, a state-owned company in Qatar, whose 82% clients reside in Asia, had planned to declare force majeure for its LNG shipments following Iranian drone attacks against facilities at the sprawling Ras Laffan Complex. Qatar's benchmark stock index fell 0.9%,...

Donald Trump, the U.S. president, said that it was "sad" to see the relationship between the United States and Britain "not what it used to be" after Keir Starmer held back on initially committing military support for the strikes against Iran. Trump said that France was more supportive than he expected and that he never anticipated to see these relationships, which were once the "most solid" of all. It's sad to see the relationship has changed from what it was, Trump said in an interview with the Sun on Tuesday. This is his second interview with a British newspaper within...

Analysts say that the average U.S. gasoline price surpassed $3 per gallon on Monday for the first time since November as the conflict in the Middle East intensified. This is a major test of public support for President Donald Trump's decision against?Iran. Tehran's response to U.S.-Israeli strikes on oil production in neighboring nations and ships in Strait of Hormuz has disrupted the global supply of oil. Brent crude has risen by more than 5%, to almost $77 a barrel. Fuel prices are also rising in line with feedstock costs. As Trump and the Republicans prepare for the November midterm elections,...

Donald Trump said he was'very disappointed'?with British Premier?Minister Keir Starmer because he refused to allow the U.S. use of the Diego Garcia Air Base to conduct strikes against Iran, according to an interview with the Daily Telegraph. The?U.S. was initially reportedly denied permission to conduct air strikes from its bases. Starmer said he would accept a request to use its bases for air strikes against Iranian targets. In an interview published Monday, Trump said that Starmer's change of heart took "too much time". He told The Telegraph that "that's probably never happened before" between our countries, and added: "It sounded...

Saudi Arabia closed its largest domestic oil refinery after a 'drone strike' on Monday, according to a source. Across the Middle East, oil and gas facilities were forced to shut down due to?Israeli, U.S. and Iranian retaliation? The wave of attacks in the region lasted a third consecutive day. This led to the suspension of the majority of oil production in Iraqi Kurdistan, as well as at several of the largest Israeli gas fields. Exports to Egypt were also halted. The Saudi Aramco Ras Tanura refinery that produces 550,000 barrels of crude oil per day, was closed as a precaution....

On Monday, oil prices rose 7% and reached their highest level in months as Iran and Israel intensified attacks?in the Middle East. They damaged tankers?and disrupted shipments?from the key producing area. Brent crude futures soared to $82.37 in the first trading session after U.S., Israel and other countries launched attacks on Iran, killing its Supreme Leader Ali Khamenei, on Saturday. Brent futures at 0054 GMT were $78.24 per barrel, an increase of $5.37 or 7.37%. U.S. West Texas Intermediate Crude rose by $4.66 or 6.95% to $71.68 per barrel, after reaching $75.33 earlier. This was the highest since June 2025....

Safe haven currencies like the Swiss franc, Japanese yen and the euro strengthened as currency trading returned after the weekend when the United States and Israel launched their most ambitious attack on Iran since decades, killing the Supreme Leader Ayatollah Ali Khamenei. It dropped by 0.34%, to $1.1776, compared to around $1.18 at the end of New York trading on Friday. The euro fell by 0.5% against the Swiss Franc, to 0.9039. This is its lowest level since 2015. The dollar dropped 0.26%, to 155.65yen. However, the greenback gained against sterling and Australian dollars. U.S., Israeli, and Iranian strikes, as...

Barclays stated that Brent crude oil could reach around $80 per barrel in the event a material supply disruption occurs, given that tensions between Iran and the U.S. remain high. The bank stated that "while it is possible that an 'escalation' does not result in a disruption in supply and the risk premium of $3-5/b in oil prices quickly fades, a 1mb/d outage in supply would question the widely anticipated supply glut, and push Brent to $80/b in our opinion." Prices of oil rose by?about 2 percent on Friday as traders prepared for supply disruptions due to the ongoing nuclear...

Chris Wright, the U.S. Energy secretary, said that proceeds from the sale of Venezuelan oil will no longer be routed through an account in Qatar. Instead they are being sent directly to US Treasury Department accounts. The U.S. has taken control of Venezuela's oil exports after Washington and Caracas signed a landmark deal in January. The U.S. has taken control of Venezuela's oil exports as part of a historic deal signed between Washington and Caracas. To protect the money from seizure, it was initially deposited into a Qatari account. Wright, who spoke to reporters in Texas about the?reroute, said that...

The Justice Department announced on Friday that the United States is seeking to forfeit a crude oil cargo of approximately 1.8 millions barrels supplied by Venezuelan PDVSA and an oil tanker, 'Motor.Tanker.Skipper', which was seized by U.S. authorities in December. The Department of Justice filed a complaint in the U.S. The Department of Justice filed a complaint in the District Court for the District of Columbia alleging a conspiracy dating back to 2021 that aimed to facilitate the shipment of petroleum products and their sale to the benefit of the Islamic Revolutionary Guard Corps of?Iran. The Justice Department released a...

Fresnillo, a precious?metals mining company, reported a?81%?surge in its annual profit on Tuesday. However, the shares of this company fell by as much as 5% due to a drop in metal prices. The London-listed firm is benefiting by the global political 'uncertainty' that fuels investment in safe haven assets such as gold. It also continues to?extend its North American presence. Fresnillo is the world's biggest primary silver producer. It reported that its earnings for 2025 before interest, taxes, depreciation and amortization increased to $2.80billion, driven by higher metals prices. It paid out $950 million, or 63% of adjusted profits, in...

Futures for Canada’s main stock index fell on Tuesday as a global stocks slump deepened amid an?intensifying conflict in the Middle East. Meanwhile, prices of precious metals dropped on a stronger U.S. dollar. As of 5:36 a.m., March?futures for the S&P/TSX Composite Index were down 1.93%. ET. Investors became more concerned about inflation as a result of the increase in energy prices due to conflict in the Middle East. U.S.?S&P500 e-minis futures were down by 1.8% and Nasdaq100 E-minis dropped 2.3%. U.S. President Donald Trump sought Monday to justify an open-ended, broad war against?Iran while indicating that the goals and...

Four sources who were involved in quarterly pricing discussions said that global aluminium producers had pulled their initial premium offers for Japanese buyers or let them expire as they feared the threat posed by a escalating Middle East war to cargoes passing through the Strait of Hormuz. Japan is a major importer of metals in Asia, and the premiums it pays for primary metals shipments over the London Metal Exchange cash price each quarter set the benchmark for this region. South32 and Rio Tinto both offered Japanese buyers premiums for April-June shipments of $250 and $220 per metric ton, respectively,...

Rio Tinto announced on Monday that the Government of Canada had conditionally approved a non-repayable?contribution of up to $13,86 million (?C$18.95) for the'miner's gallium metal research and development project. According to the statement of the firm, this follows the C$7M commitment by the Government of Quebec for December 2024. China's crackdown on critical minerals, such as gallium used in semiconductors and defense applications, has prompted the West to build its own domestic supply of the elements. Jerome Pecresse, Rio Tinto's Aluminum & Lithium Chief Executive, said that removing gallium from the existing refining process will create more value and strengthen...

Goldman Sachs stated Monday that the greatest risks for 'aluminium' stem from possible disruptions in export routes and raw material access through the Strait of Hormuz. They noted that the price impact should be minimal if the shipping disruptions last only a short time. The benchmark aluminium price on the London Metal Exchange has risen to its highest level in over a month after the U.S.-Israeli?strikes against Iran. Around 150 ships have been stranded in the Strait of Hormuz - the main shipping artery connecting Asia to Europe - after the commander for the Iranian Revolutionary Guards said on state...

Since the emergence of a?U.S. President Donald Trump has repeatedly threatened to annex Greenland, according to a senior Greenlandic government official. Naaja H. Nathielsen, Greenland’s Minister for Business and Mineral Resources, stated that the UK, Canada, and European Union countries have shown the most interest. She said, "On the investor's side, we saw an increase in interest in investing." She said that although Trump expressed an interest in purchasing?Greenland many years ago, it has been "hectic" over the last two months. The Arctic island is a strategically located, mineral-rich autonomous?territory. Trump has 'intensified his rhetoric about gaining control of Greenland...

REalloys, a rare earths company, has received a U.S. Department of Defense Contract worth up to $1.7 Million to fund the design of a metal processing facility used to?make magnets and electronic components for weapons. The Ohio-based firm received the contract from Defense Logistics Agency. It aims to process 300 metric tonnes?per annum of heavy rare earths, samarium, and gadolinium to metal form. This would make the company one of the largest U.S. suppliers of these metals. Rare earths are first converted into metals before they can be used in?magnets. China has placed export restrictions on rare earths, critical minerals...

The war between the U.S. & Iran is likely to cause a prolonged disruption in Middle East aluminium imports, which will hit European and U.S. consumers the hardest. This is because they are heavily reliant on this region for supply. The U.S.,?Israel and other countries attacked Iran on Saturday in a move which could result in the closure of Strait of Hormuz. This important trade route was disrupted due to Iranian attacks against U.S. military base. The impact of sustained disarray will be significant According to BNP Paribas commodities analyst David Wilson, the Arabian Gulf has around 7 million tons...

Gold as a safe-haven asset gained on Monday due to escalating fears of a prolonged conflict in the Middle East following?U.S. Israeli and U.S. strikes against Iran have boosted the price of safe-haven gold. Gold spot gained 2%, to $5,384.41 per ounce, by 1406 GMT, after reaching a session-high of $5,418.50. Prices reached a record high of $5,594.82 in January. U.S. Gold Futures increased 2.9% to $5.397.40 per ounce. David Meger is the director of metals trading for High Ridge Futures. "I believe that it is the uncertainty that will more than likely'support prices. The U.S. and Israeli air war...

Gold prices rose by more than 2% on Monday as U.S. and Israel strikes against Iran continued - with no end in sight. This stoked fears of a wider geopolitical & economic uncertainty, which sparked a flight into safe havens. Gold spot prices rose 2.1% at 1255 GMT to $5,388.59 per ounce, after reaching a four-week high in the previous session. The metal reached a high of $5,594.82 in January. U.S. Gold Futures increased 3%, to $5404.20 an ounce. Ricardo Evangelista, ActivTrades analyst, said: "We're seeing an increase in'safe-haven assets. This is reflected both in the gains of gold as...

Hudbay Minerals announced on Monday that it would 'buy the shares in Arizona Sonoran Copper Company it doesn't already own for $1.48 Billion. The?Canadian mining company is expanding?its footprint?to?capitalize?on?the increasing demand for?the red metal. Hudbay Minerals shares listed in the U.S. fell by 1% before market. Copper, an important metal used in the construction and power industries, will benefit from a surge in demand due to electric vehicles and AI infrastructure. As countries around the world increase their efforts to reduce reliance on China, miners are consolidating. Anglo American announced a merger with?Teck Resources worth $53 billion in stock last...

Geoff Gilmore, Worthington Steel's chief executive officer, said that the U.S. company would have a 'decent number of other acquisition targets if a $2.4 Billion deal to buy German metals distribution?Kloeckner & Co falls through. Worthington must secure at least 66% of Kloeckner shares by March 12 to seal the deal. Worthington is looking at around 10 targets, including Kloeckner, a German company, that Gilmore has said he's "highly confident" he can achieve. He already secured?53% of Kloeckner from Swoctem, Kloeckner’s largest shareholder, and other tenders. Gilmore said, "We felt that Kloeckner was the best choice for us in terms...