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It may not be sufficient to wait out the oil crisis. Federal Reserve officials may have to show that they will take action to achieve their inflation targets, just as European counterparts seem to be determined to do. If that happens, it could be a big deal given what Wall Street forecasters are currently thinking. The crude oil futures for the end of year are at their highest levels since the Iran 'war began, with little evidence of a lasting peace agreement. The latest U.S. April inflation data showed that the damage to?already high prices was escalating. The Fed's target...

Kevin Warsh, the new Federal Reserve chairman, is on his way to the Federal Reserve to "clip the wings" of a bank that he believes has strayed into politics. Many countries are afraid that this will only give the 'U.S. Politicians have more freedom to use financial instruments as a weapon. Warsh, who was nominated by U.S. president Donald Trump in January to succeed Jerome Powell at the helm of the board, is expected to be confirmed by the Senate before Powell's?term ends on May 15th. His confirmation hearing delved into his views on?Fed independence? and a controversial preference to...

Prices of oil rose by nearly 1% on Tuesday as the talks to end U.S. - Israel's?war on Iran? appeared fragile. Tehran's response?to a Washington proposal highlighted stark differences which have kept supply concerns alive. Brent crude futures rose 86 cents or 0.8% to $105.07 per barrel. U.S. West Texas Intermediate was up 99 cents or 1% at $99.06 as of 0411 GMT. Both benchmarks rose by nearly 2.8% Monday. U.S. president Donald Trump said on Monday that the ceasefire agreement with Iran is "on life support." He cited disagreements on several demands such as the cessation?of?hostilities across all fronts,...

Reliance Jio Platforms, owned by Indian billionaire Mukesh Ambani, is preparing to apply for regulatory approvals to list in Mumbai. This is expected to be the largest-ever stock offering in India. Jio Platforms is the second largest telecom company in the world by number of users, after China Mobile. TELECOM BUSINESS Reliance Jio Platforms is part of Ambani’s oil-to retail conglomerate,?Reliance Industries. Reliance Jio Infocomm is its most well-known business. It has more than 500,000,000 subscribers and is the largest telecom company in the country. In 2016, when Jio was launched, it offered free voice and data to rivals like...

Compass Gas e Energia SA is set to launch its initial 'public offering' on a Thursday, ending a nearly 5-year IPO stalemate on Brazil’s B3 Stock Exchange due to high interest rates. According to two sources familiar with the transaction, the offering of 89.3 millions shares by the existing shareholders of the gas distributor could generate around 3 billion Brazilian reais (about 600 million dollars). One person said that by early afternoon on Thursday, the orders had nearly tripled the size of the initial?offering. The second source said that despite the high demand, pricing may be at the lower end,...

European shares fell on 'Thursday, after a steep rise?in the prior session. Investors analyzed?progress toward a U.S. Iran peace deal which pushed crude oil prices sharply down. STOXX 600, the pan-European index of stocks, ended up 1.1% lower than it was on Wednesday after gaining more than 2%. The majority of regional bourses in France, Germany, and Britain also declined. European energy stocks fell 2.5% when crude oil dropped below $100 per barrel. Shell fell 2.9%, despite exceeding first-quarter profits estimates and increasing its dividend by 5%. Sources and officials reported that oil prices were under pressure when?the U.S. &...

Early Friday morning, oil prices dropped on the optimism that the Middle East conflict could be coming to an end. A 10-day ceasefire between Israel and Lebanon went into effect after the inauguration of the ceasefire. Moreover, 'President Donald Trump' said the U.S. may hold talks with Iran over the weekend. Brent crude futures fell $1.34 or 1.35% to $98.05 per barrel at 0021 GMT. U.S. West Texas Intermediate Crude Futures declined $1.65 or 1.74% to $93.40 per barrel, reducing gains from the previous day. Trump addressed a major sticking point in talks to end the Iran War, which has...

Analysts and traders say that U.S. crude cargo prices have fallen from recent price spikes, while in Europe and Asia prices continue to reach record highs, seven weeks after the Iran 'war. The war in Iran disrupted the global oil flow with the closure of the Strait of Hormuz - a vital trade route - and caused damage to oil facilities in the entire region. This pushed the price of crude oil in Europe, the Middle East and Asia up to record highs. As the world's largest oil producer, the U.S. has been able, through its refineries, to access the...

Data from Kpler & LSEG revealed that Europe was experiencing record-breaking inflows of Jet Fuel from the United States. The region is trying to replenish fuel supplies as a result of the Middle East's disruption. Due to the U.S. and Israeli war against?Iran, the Strait of Hormuz has effectively been closed. This has prevented the Middle East from supplying Europe with nearly 75% of their?jet fuel, or about 375,000 barrels a day. According to a document viewed by, this has caused European airlines to call on the European Union (EU)?to take emergency measures including widespread airspace closings. Based on vessels...

Wale Edun is the Nigerian Finance Minister, and the Chair of the G-24 coalition of developing nations. He said that multilateral institutions should do more to help vulnerable countries weather the economic shocks caused by the Middle East war. Edun stated during the briefing for the G-24 at the IMF/World Bank Spring Meetings in Washington that "we would like them do more. We definitely like them provide, especially at this time additional liquidity risk management instruments that lower the cost of funding." The G-24 is a group of countries that coordinates the stances taken by developing nations on issues related...

Shell's notice of the meeting states that it will allow its shareholders to vote on a resolution presented by climate activist investor groups Follow This and recommend a negative vote. This'stands in stark contrast to BP whose board decided 'not to include the Follow This Resolution on its agenda. This prompted some of its shareholders, and influential proxy advisor groups, to recommend a vote against the board. Follow This Resolution calls on Shell to reveal how its strategy will perform in scenarios of declining oil and gas demand. BP said that the resolution is invalid and will be 'ineffective' if...

The British government announced that British Finance Minister Rachel Reeves would tell her international counterparts traveling to Washington this week about the "securonomics", or approach, she uses in dealing with an uncertain world. Reeves will, while in the United States to attend an International Monetary Fund summit, once again promote Britain as "a rare safe haven for Investors" that provides stability amid rising energy prices. After weekend talks to end the war failed, Tehran has threatened to attack the ports of its Gulf neighbours. Britain's dependence on imported gas and stubbornly high inflation has led to a sharper selloff of...

Copper prices rose on Wednesday,?as if to signal that the Iran War was about to end? and as Chile, the top producer of copper, cut its production forecast. Nickel's recent rally also paused while the market awaited more information?on the Indonesian supply outlook. The benchmark three-month copper price on the London Metal Exchange increased 0.6% in open-outcry official trading to $13,490 per metric ton after hitting its lowest level since May 8, at $13,350. LME copper is down from $14,196.50, its highest level in over three months, just a week earlier. Profit-taking, the strong dollar, and concerns about demand in...

Nickel prices increased on Tuesday as concerns about Indonesian supplies resurfaced. China's Tsingshan group asked its Weda Bay Industrial Park smelters to divert their power to aluminum production. Benchmark nickel prices were?up?1.8% at $18,900 per metric ton as of 0946 GMT. The price of nickel hit a two-year high earlier this month at around $20,000, with the buying being sparked by a sulphur scarcity caused by the war in Iran and lower ore quotas. Tsingshan asked producers of nickel-pig iron used to produce stainless steel to "curb" output, according to reports on Monday. The group is now focusing more on...

Anglo American announced on Monday that it would sell its steelmaking mines in Australia for up to 3,88 billion pounds to UK-based Dhilmar. The move is part of Anglo American's strategy to exit the sector and reduce debt, as well as streamline assets, ahead of a planned merger between Teck Resources, Canada, and Anglo American. Anglo, listed in London, is selling the mines located in Queensland's Bowen Basin - the world's leading steel-making coal region - as part of its plan of divesting -or spinning off - non-core assets before completing the merger between Teck Resources and Anglo that will...

India has curbed the imports of silver in nearly all forms, with immediate effect. The government order was issued on Saturday. India, the world's largest consumer of this metal, is trying to reduce shipments to ease the pressure on the rupee. The restrictions are expected to result in a reduction of silver imports, and a tightening of domestic supplies. This could potentially increase premiums on the local market. India's lower demand, which imports more than 80% its total consumption, could have an impact on global prices. The order stated that India had placed imports of 99.9% pure silver bars and...

A joint report by the government and civil society revealed that Nigeria is losing vast amounts of mineral revenue to illegal trading networks, which are dominated by shell companies, foreign buyers, and armed criminals groups. This highlights the extent of illicit activity. The report was produced by Nigeria's extractive industry watchdog NEITI and Africa Network for Environment and Economic Justice with UK government funding. It found that illicit financial flow in the mining sector occurs through commercial manipulation, corrupt officials, and cross-border smuggling. Nigeria's mining industry contributed only 0.72% of GDP in 2023, 0.28% of revenue, and 0.75% % of...

The zinc price surged on Thursday to its highest level in nearly four years after another incident at a metal smelter increased supply concerns. Copper was poised to break an eight-day streak of gains, but held above $14,000. As of 0930 GMT, the benchmark three-month zinc at London Metal Exchange had risen 2.3% to $3,610 per metric tonne. The metal used for galvanizing steel reached $3,616.50, its highest level since August 2022. Nexa Resources announced on Wednesday that operations at the 344,400-ton Cajamarquilla Zinc Smelter, which is the largest zinc smelter of Latin America and has the highest production rate...

Due to 'bullish technical indicators and the outperforming of prices in the U.S. The benchmark three-month 'copper' on the London Metal Exchange rose 0.8% to $14138 per metric ton, in open-outcry official trading, following a record-breaking close on Tuesday. The LME index of six base-metals contracts closed on a record on Tuesday, with copper moving closer to the intraday record of $14,527.50 that was set on January 29. Prices for the entire complex were also strong. Bets on the future growth of demand for copper are a good way to support the price. Recent strong factory data is also a...

Australian shares fell on Wednesday as investors sold Commonwealth Bank and other lending institutions. The?top?bank's missed profit heightened fears that Canberra's proposed curbs to tax incentives for property-investors could slow down mortgage demand. The S&P/ASX 200 closed 0.5% lower, at 8,630.40. This brings its overall decline to 2.8% in the last four sessions. Australia's biggest mortgage lender Commonwealth Bank plunged 10.4%, posting its weakest ever session. The bank erased a market value of?A$29.93 billion ($21.66billion) after an earnings missed and new Middle East-related provisions bleakened the outlook for the banking industry. The financials index is down 4% at a five-month...

Maxime Vandersmissen, Arctial's chief commercial officer, said on Tuesday that the smelter, owned by Rio Tinto, in Finland could help boost production in Europe and produce hot metal in the second half 2029. The project is still three years from production, but it is already in the spotlight, as the Iran War has made aluminium more scarce in Europe, which is heavily dependent on imports. Vandersmissen, speaking at the CRU World Aluminium Conference in London said that the project aims to produce 610,000 metric tonnes of aluminium per year. Vandersmissen stated that this would increase the European production level by...

Michael Meding is the vice president and general manager of McEwen Copper. Michael Meding is McEwen Copper’s vice president and manager general. He said that the loan was part of the $4 billion total financing package for the McEwen Copper project. He refused to identify the lender, but said that an announcement will be made shortly. In a recent interview, the executive stated that he had already signed a?agreement? with a company that handled the entire debt package with international export agencies. The project is located in the Andean Province of San Juan. Los Azules is located 3,500 meters above...

On 'Monday', copper prices rose to their highest level in over three months as fears of supply shortages outweighed worries about lower demand because of the stalemate during the 'Iran War. In open-outcry official trading, benchmark three-month copper at the?London Metal Exchange rose 1.1% to $13,715 per metric ton. This is its highest since January 29. The stock was on course to post its sixth consecutive session of gains. This is the longest bullish streak since December. It has gained 10% this year but is still well below its peak of $14,527.50 in January. Ole Hansen is the head of...

Palliser Capital, an activist?investor, has acquired a 2% share in Britain's Autotrader Group. A?source with knowledge of the matter said on Thursday. This comes at a time where artificial intelligence is putting pressure on the automotive market. Autotrader shares rose 4.2% to 521.2 pence each at 0921 GMT. This outperformed the benchmark FTSE-100, which fell 0.7%. Source: The fund manager's stake will likely be between 1% to 2%. According to a calculation based on Autotrader's closing stock price, the stake could be worth as much as 81.2 million pounds (110.6 million dollars). Palliser had previously called for change at several...