North America

Four sources with knowledge of the matter have confirmed that India's Reliance industries Ltd, the operator of the largest refinery in the world, will'receive' sanctions-compliant Russian crude oil between February and March, after a one month pause. Reliance received its last shipment of Russian crude in December, after it secured a U.S. concession allowing it to extend the deadline for ending business with Rosneft (a Russian oil company sanctioned by the U.S. government) beyond November 21. Sources said that Reliance, like other Indian refiners will purchase Russian oil from non sanctioned sellers. They did not elaborate on how many cargoes...

Saudi Arabia's National Infrastructure Fund and Humain - the artificial intelligence company of the Kingdom - announced on Wednesday that they had reached a financing deal of up to $1.2 billion. The agreement is intended to'support the expansion' of AI and digital technology in the country. According to a press release, the agreement sets out non-binding terms of financing for the development up to 250 Megawatts of AI data centre capacity to support Humain’s customers. It was announced in Davos, Switzerland. As part of an 'overall effort' to diversify economic activity and income sources away from hydrocarbons, the world's largest...

Indian refiners have redrawn their crude import strategies in order to move away from top supplier Russia, and increase imports from the Middle East. This could?help New Delhi to clinch a deal with the United States for lower tariffs. India became the largest buyer of discounted Russian crude oil after the outbreak of the Ukraine war in 2022. However, the trade was met with a backlash by Western nations who targeted Russia's energy industry with sanctions. Middle East producers are keeping global markets well-supplied with the help of higher production quotas set by the Organization of the Petroleum Exporting Countries....

BBVA is the only major bank in the world with a significant 'presence' in Venezuela. Its chairperson said that BBVA was well positioned to 'take advantage of the new business opportunities created by the U.S. intervening in the country which has the largest oil reserves in the world. Venezuela has an interim government since the United States captured Nicolas Maduro in early?this?month. The situation presents potential business opportunities for international banks. However, analysts have warned that there will still be many challenges. Carlos Torres, BBVA's Carlos Torres, told Expansion that if greater stability is achieved in the future, they will...

The latest trade war and foreign policy salvos from Donald Trump are upsetting the global markets. But the question is if these ructions escalate or disappear, like they did in the past 12 months. It is more likely that the latter scenario, but it is clear that investors struggle to accurately price the fundamental shifts of the geopolitical plates. The changes that have already occurred in 2026 will be truly astounding. The Trump administration removed Venezuela's leader, and it appears that he is now the de facto ruler of the Latin American nation. The threat of an American response is...

The U.S. must intervene more aggressively to stop a Syrian offensive which has gained key territory from Kurdish militants in the past few days, according to the leader of 'the main kurdish forces. Officials and security sources reported that government troops launched an offensive Saturday in territory controlled by semi-autonomous Kurdish authority for the past decade. They captured towns on both side of the Euphrates as well as the largest oilfield as well as a gas field. Sipan Hamo, commander of the People's Protection Units(YPG), said that a meeting held on Saturday between U.S. envoy Tom Barrack (and Kurdish officials)...

Suzanne Clark, CEO of the U.S. Chamber of Commerce, spoke in a dimly-lit ballroom Thursday. She urged executives to "be fearless" when defending free markets against government control. The U.S. should remain "open to all, to the global exchange of ideas, goods, talent, and innovation." Comments by the president of the largest U.S.-based business lobby could be interpreted as a mild 'pushback' against President Donald Trump who has been more involved in business than any other U.S. leader. He has ordered the U.S. government to invest in tech companies, claimed 'control' over corporate equity structures, imposed tariffs and advanced immigration...

Donald Trump, President of the United States, said that he believed it would be best for Venezuela to stay in the Organization of the Petroleum Exporting Countries (OPEC) but he added he wasn't sure if he thought the United States would benefit from this. In an interview, Trump replied that it would be better for Venezuela to remain in the cartel. Trump continued, "I'm not sure that it's better... but they're a member of OPEC and we've never discussed this with them at all." Venezuela, the founding member of this oil cartel, is home to some of the largest reserves...

The U.S. Justice Department announced on Wednesday that it filed a lawsuit to 'block' a California law which requires oil and gas drilling to be kept away from schools, homes and hospital by buffer zones greater than half a kilometer (1 km). The Justice Department has said that it will be seeking a preliminary injunction to stop the?enforcement of the law in the next few days. California Senate Bill 1137 prohibits the drilling of new oil and natural gas wells in a radius of 3,200 feet (975 metres) from community spaces. It also imposes stricter health and safety standards on...

This week, Venezuelan crude was offered to the?U.S. Gulf Coast refiners are getting barrels from Canada at a premium, according to two traders. A trader said that Venezuelan Merey-16 crude oil was being offered at a discount around $6 to Brent futures for U.S. Gulf Coast deliveries earlier this week. West Canadian Select settled at Houston on Tuesday at a discount of approximately $12.50 to Brent. Last week, global commodities?traders Vitol & Trafigura reached agreements with the U.S. government to help sell Venezuelan oil that was stranded. This came after the interim Venezuelan government agreed to export 50 million barrels...

A person with knowledge of the matter said that Brazilian billionaire Joesley Batista had met with Venezuela's interim president Delcy Rodriguez before and after he met with U.S. government officials. He reassured them, according to a source familiar with the situation, that she seemed ready to allow investment in her country's oil and natural gas industry. Source: The Batista's family energy firm Fluxus is evaluating Venezuelan business opportunities. They have consolidated South American assets ever since they acquired it in 2023. Fluxus, Batista and the holding company J&F have declined to comment. The billionaire's?shuttle diplomatics, whose meatpacker JBS is a...

The market is apprehensive about the possibility of Iranian supply disruptions after deadly unrest in this major Middle Eastern producer. Brent futures traded 9 cents lower or 0.14% at $65.38 per barrel at 0207 GMT. U.S. West Texas Intermediate Crude was down 12 Cents, or 0.2%, at $61.03 per barrel. Brent futures ended 2.5% higher Tuesday, while WTI rose 2.8%. Prices for both contracts have risen 9.2% in the last four trading sessions due to the?increasing protests against the fourth largest OPEC producer. U.S. president Donald Trump on Monday urged Iranians to continue protesting, and that help would soon be...

Gold reached $4,800 per ounce on Wednesday for the first time as geopolitical tensions, including U.S. president Donald 'Trump's bid to control Greenland, drove demand for safe havens. By 9:30 am, spot gold had risen 2.1% to $4,865 an ounce. ET (1430 GMT), the price of gold had risen to $4,887.82 in earlier sessions. U.S. Gold Futures for February Delivery climbed almost 2% to $4.856.3 per ounce. Bob Haberkorn, senior market strategist at RJO Futures, said that there is a 'fear' of missing out. Given the geopolitical climate in 'the world' it's an ideal storm for higher prices of gold...

The Trump administration will push ahead with its effort on Wednesday to encourage U.S. deep sea exploration by speeding up?permitting companies that are hunting for vital minerals in international waters. This move is likely to raise environmental and legal concerns. This effort could 'help?spark?a U.S. led scramble to find resources on the deep seabed, before global standards for the relatively new techniques of mining are in place. The National Oceanic and Atmospheric Administration has finalized a rule that follows an executive order signed by U.S. president Donald Trump. This executive order was intended to bolster the deep-sea?mining?industry in a bid...

As escalating geopolitical conflicts boosted demand for safe havens, gold reached a new record high of $4,700 per ounce on Tuesday. Silver also broke through $95 an ounce for the first. By 11:34 am, spot gold had gained 1.6% and was at $4,741.96 an ounce. After reaching a record-high of $4,750.49 in the morning ET (16:34 GMT), gold prices fell to $4,741.96 per ounce by 11:34 a.m. U.S. Gold Futures for February Delivery climbed 3.3%, to $4.747.60/oz. Fawad Rasaqzada is a market analyst for FOREX.com and City Index. He said that gold has surged?deeper in uncharted waters as investors hedged...

As escalating geopolitical tensions increased demand for safe havens, gold reached a new'record high' on Tuesday. Silver also surpassed $95 an ounce for the first. Spot gold rose 1.5%, to $4.737.18 an ounce at 09:49 am. After reaching a record-high of $4,750.49 in the morning ET (14.49 GMT), gold prices fell to $4,737.18 per ounce by 09:49 a.m. U.S. Gold Futures for February Delivery climbed 3.2%, to $4.742.70/oz. Fawad Rasaqzada is a market analyst for FOREX.com and City Index. He said that gold has surged?deeper than ever before as investors protect themselves against the rising political risks. A softer dollar...

Two senior Congolese officials confirmed that the Democratic Republic of Congo sent Washington a list of state-owned assets, including gold, manganese, copper, cobalt and lithium projects, for U.S. investment as part of a mineral partnership. Sources said that the list Washington presented to officials in the United States last week represents its most tangible progress towards converting investment and peace deals with Congo into a sway over the critical minerals supply chain of the country. U.S. agencies are stepping up efforts to secure strategic materials since President Donald Trump brokered an agreement between Congo and Rwanda in order to ease...

The price of copper dropped on Tuesday as industrial consumers began to resist paying high prices for inventory levels that are multi-year highs. Benchmark -three-month copper at the London Metal Exchange fell?0.8%?to $12,868 per metric ton by 1045 GMT. The previous session saw a 1.3% rebound. LME copper prices have risen by 30% in the last six months. Last week they reached a record high of $13,407, driven by speculation on the backs of fears that disruptions at mines would lead to shortages. Ole Hansen is the head of commodity strategy for Saxo Bank, Copenhagen. He said: "Copper can't run...

A source familiar with the situation said that Canada was considering sending a small contingent of troops to Greenland in order to take part in NATO exercises. The first to report the news were CBC News and Globe and Mail. Source: Military officials have "presented" plans for the operation to government, and are "awaiting a decision by Prime Minister Mark Carney," said the source. The source requested anonymity due to the sensitive nature of the issue. Carney's office declined to comment. Carney is challenged by the threats of U.S. president Donald Trump to annex Canada. He wants to be on...

Donald Trump, the U.S. president, has linked his desire to seize control of Greenland with his failure to receive the Nobel Peace Prize. He said he was no longer thinking "purely of Peace", as the row on the Arctic island threatened to reignite the trade war between Europe and the U.S. Trump is intensifying his efforts to take over Greenland, which belongs to NATO member Denmark. He has threatened punitive tariffs against countries that stand in his path and prompted the European Union (EU) to consider retaliatory measures. The dispute threatens to bring down the NATO alliance, which has been...

The copper price rebounded Monday, thanks to a lower dollar and better-than-expected data from China, the world's largest metals consumer. After two consecutive sessions of declines, the benchmark three-month 'copper price on London Metal Exchange rose 0.6% to $12,885 per metric ton at 1030 GMT. LME copper fell to a low of one week on Friday due to profit-taking, and worries about weak Chinese demand. It had fallen from its record high of $13,407 on Wednesday. The price of coal has risen 31% in the last six months on fears that shortages may occur this year due to mine disruptions....

In a letter, U.S. president Donald Trump told Norway's Prime Minister that he did not feel obligated to "think purely of Peace", because he hadn't?been?awarded the Nobel Peace Prize. He also reiterated his demand for Greenland. Stoere said in a press release that the letter was written in response to a short message sent by Norway's Premier Jonas Gahr Stoere to Trump opposing his decision imposing tariffs on European allies for refusing to allow the U.S. to take control of Greenland. Trump's letter stated that he no longer felt obligated to only think of Peace. Although it will always be...

Syrah, an Australian company that supplies graphite to Tesla, announced on Monday that it had agreed to extend a deadline for a third time to resolve a dispute over a supposed breach of the agreement. The 2021 agreement, which will supply?8,000 metric tons of graphite per year for four years, is crucial to Syrah Vidalia's Louisiana operations as well as the company's plan to become the United States' first non-Chinese major supplier of this metal. Tesla, headquartered in Texas, issued the first default notice to Syrah in July 2025. The company claimed that Syrah failed to deliver active anode samples...

On Saturday, protesters in Denmark and Greenland called for the island to be allowed to decide its own fate and criticized President Donald Trump's demand that it be ceded. Trump has said that Greenland's strategic location and its large mineral deposits are vital for U.S. national security. He has also not ruled out the use of force to seize it. The European nations sent military personnel this week to the island on Denmark's request. MARCHING FOR GREENLAND AT NUUK AND COPENHAGEN Demonstrators in Copenhagen chanted, "Greenland's not for sale", and carried slogans like "No means No", and "Hands Off Greenland",...