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Energy Markets

Fossil Fuels

Fossil Fuels

Oil prices rise as the market looks at US-China trade negotiations and lower US output

Investors focused on U.S. China trade talks and signs that U.S. oil production is declining. Brent crude futures rose 44 cents a bar, or 0.7% to $62,59 a bar by 0400 GMT. U.S. West Texas Intermediate crude gained 50 cents or 0.9% at $59.59 a gallon. The benchmarks fell to a 4-year low after OPEC+ decided to increase output. This fueled fears of an oversupply, at a time that U.S. Tariffs are increasing concerns about demand. Brent crude is trading higher on news that the U.S. will begin trade talks with China this weekend, extending a rally in oil, said...

Fossil Fuels

Financial Times - May 6

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines US coal producer Peadbody has threatened to end deal with Anglo American Eutelsat names a new CEO as Starlink's rival in Europe seeks funding Credit Suisse will pay $511 Million for helping wealthy Americans to hide over $4 Billion Santander earns 7 billion Euros from Poland sales View the full article Peabody Energy has said that if it is not satisfied with the resolution of issues surrounding Anglo American's Moranbah North Mine, then...

Fossil Fuels

Sources say LNG Canada is preparing its plant to begin production in June.

Two people who are familiar with the process said that LNG Canada had completed cooling down its Kitimat liquefied gas plant and was preparing to produce the first LNG at the plant in June. To ensure the production of super-cooled gas, cooling an LNG plant is essential. It's also a crucial step before starting operations. LNG Canada will be the first LNG export facility in Canada. It is expected to export 14 million metric tons per year (MTPA). LNG Canada confirmed on Saturday that the Maran Gas Roxana left the plant after delivering a shipment to the plant on April...

Coal

Peabody may exit Anglo American's assets deal over damaged coal mine

Peabody Energy announced on Monday that if it is not satisfied with the resolution of issues surrounding Anglo American's Moranbah North Mine, then they may terminate their pending agreement to purchase some Australian steelmaking coal assets from this British mining company. Peabody shares rose over 4% at the opening of trading. An underground fire at Anglo American’s Moranbah North Coal Mine, located in Queensland, Australia's Bowen Basin, has caused the suspension of production. The assets agreement signed by the two companies last year includes the mine. Peabody has informed Anglo American that it has sent a Material Adverse Change notice...

Oil & Gas Exploration

Shareholder returns from Big Oil show a split in production strategies

Big Oil's earnings for the first quarter of 2018 show a clear division in how companies are positioning themselves to weather a downturn caused by the drop in oil prices, which reached a four-year-low in April. Investors focused on the question of whether companies would reduce share repurchases because lower crude prices would mean that they would have less cash available to fund these programs. Investors' interest in the oil sector is largely driven by buybacks and dividends. Exxon Mobil, a US oil company, and Shell in the UK kept up their share buybacks. Chevron, a U.S. oil company, and...

Oil & Gas

EnQuest pulls out of Serica contract as market volatility hinders agreement on terms

The companies announced on Friday that North Sea oil producer EnQuest would not make an offering for UK-based Serica Energy as they could not reach an agreement on favorable terms in time due to market volatility. At 1623 GMT, EnQuest shares fell about 5% to 13.14 pence. Serica shares rose 0.3% to 127 pence. Serica announced in March that it was in discussions with EnQuest regarding a potential deal. The termination comes amid an economic wave of uncertainty caused by the sweeping tariffs that U.S. president Donald Trump has imposed around the world. Energy prices have been dragged down by...

Oil & Gas

The UK's FTSE100 marks record winning streak

Investors were encouraged by signs of global trade tensions easing as the blue-chip index of Britain recorded its 15th consecutive day of gains, its longest winning streak ever. The FTSE 100 increased by 1.2% and reached levels not seen since early April, when Donald Trump announced his tariffs. The blue-chip index is just 3% off its March 3 record high, thanks to optimism about trade agreements with major U.S. trading partner countries and an impressive first quarter earnings season. Shell's share price rose 2.2% on the day after it beat analysts' expectations for its first-quarter profit. The oil giant also...

Fossil Fuels

FTSE 100 increases with Shell at the helm amid easing China/US tensions

The blue-chip index in Britain advanced on Friday led by Shell as a potential ease in China-U.S. tensions and positive earnings reports generally boosted the market sentiment. By 0955 GMT the FTSE 100 had gained 0.8% and was on course to record its 15th consecutive session of winning - the longest ever recorded. It is also poised to achieve its third consecutive week of gains. Despite recent market turmoil due to U.S. tariffs on imports, the blue chip index is only 3.6% lower than its closing record high reached on March 3, 2025. Shell's share price rose 3.4% despite lower...

Fossil Fuels

MORNING BID EUROPE - Bright signs from Beijing and bad omens for Apple

Ankur Banerjee gives us a look at what the future holds for European and global markets The possibility of a de-escalation in trade tensions between Beijing, Washington and other countries provided a boost to the markets on Friday. It boosted risk sentiment and lifted stocks worldwide just as Apple's earnings reminded investors of the true cost of a trade war. China's Commerce Ministry stated that Beijing is "evaluating" Washington's offer to hold discussions over President Donald Trump's tariffs of 145% and that Beijing's doors are open for discussion. China also said that Washington should show "sincerity in negotiations" and be...

Refined Products

Oil prices increase as China opens up for trade talks with US

The oil prices rose in the early Asian hours of Friday, after China announced that it was open to talks with the United States. This raised hopes for a deescalation of the bitter trade war between two world's largest economies. Brent crude futures increased 38 cents or 0.6% to $62.51 per barrel at 0136 GMT. U.S. West Texas Intermediate Crude futures also rose 38 cents or 0.6% to $59.62 per barrel. China's Commerce Ministry said on Friday that the United States had recently taken steps to start a dialog with Beijing through information being passed along by relevant parties. Oil...

Fossil Fuels

Elche's stadium cleanup act bans sunflower seeds snacks

Elche, a Spanish club, has decided to break tradition and ban the sale and consumption sunflower seeds on their own ground. Cleaning up the shells that fans spit led to higher costs and unhygienic situations. Elche plays its home matches at the 31 388-capacity Estadio Martinez Valero, but the popular Spanish snack known as 'pipas" will no longer available to match-going fans. Elche has described the recent "structural problems" that have resulted from eating sunflower seeds. Elche stated in a press release that "the shells clog pipes and drains, they degrade the seats and damage the paint and finishes on...

Fossil Fuels

Business groups and industry call for Britain and the EU's carbon markets to be linked

Over 50 business groups and companies from across Europe have called for Britain and the EU at a upcoming summit to begin talks on linking their carbon market, which will they claim help reduce costs for consumers. When leaders meet on the 19th of May, Britain will seek enhanced cooperation in security, law enforcement, and removing trade barriers between the EU. As part of a larger effort to reduce emissions and achieve climate targets, the EU and UK Emission Trading Systems charge power plants and industrial entities per ton of CO2 they emit. The letter, signed by Equinor Orsted RWE...

Crude Oil

Crude Oil

Oil prices drop, causing buyers to buy more; concerns about oversupply weigh

The oil price rebounded by over 1% Tuesday, with technical rebounding and dip-buying after a previous session's drop due to OPEC+'s decision to increase output. However, concerns about the outlook for a market surplus persisted. Brent crude futures rose by 92 cents a barrel to $61.15 at 0309 GMT. U.S. West Texas intermediate crude gained 89 cents a barrel to $58.02 The OPEC+ decision to increase oil production for a second month in a row, made over the weekend, pushed both benchmarks down to their lowest levels since February 2021. Yeap Jun Rong is a market analyst at IG. He...

Crude Oil

Oil prices stabilize after dropping to a four-year low in the previous session

The price of oil was stable on Tuesday, after it hit four-year lows the previous session. This was due to a decision by OPEC+ to increase output. This decision stoked fears of an oversupply during a period when U.S. Tariffs are causing concern about demand. Brent crude futures increased 10 cents, to $60.33 per barrel at 0050 GMT. U.S. West Texas intermediate crude also rose 10 cents, to $57.23 per barrel. On Monday, both benchmarks reached their lowest levels since February 2021. OPEC+ decided on Saturday to accelerate oil production increases for a second month in a row, increasing output...

Crude Oil

Oil falls, Taiwan's Dollar surges as central banks pack the week

Oil prices fell over 2% Monday, after the oil-producing group OPEC+ decided to increase oil production. Meanwhile, Taiwan's dollar surged up to nearly three-year-highs as world markets began a week of central banks. European shares were just below Friday’s one-month highs, while U.S. Equity Futures fell and overall trading was subdued due to public holidays in Japan China and Britain. Brent crude and U.S. West Texas Crude futures each fell by more than $1 after a decision made by OPEC over the weekend to increase oil production. This decision fueled concerns about an influx of more supply into a market...

Mining

Mineral Resources

Mineral Resources

US and Britain to announce tariff agreement on Thursday

Thursday is expected to see the United States and Britain announce an agreement to lower tariffs for some goods. This will be the first such deal since U.S. president Donald Trump began imposing levies to countries all over the world. Trump announced on Truth Social on Thursday that he will hold a news conference in the Oval Office at 10:00 a.m. ET (1400 GMT), to discuss a "major deal" with representatives of an important and highly respected country. A spokesperson for the British government said that Prime Minister Keir starmer will give an update about U.S.-UK trading talks later on...

Mineral Resources

Gold prices rise as Fed warns of economic uncertainty

Gold rose on Thursday, after the Federal Reserve warned that rising inflation and labor-market risks were fueling economic uncertainty. Investors awaited this weekend's outcome of U.S. China trade talks. As of 0223 GMT, spot gold increased 1.4% to $3409.76 per ounce. U.S. Gold Futures rose 0.7% to $3416.70. Kyle Rodda, a financial market analyst at Capital.com, said: "I think the main reason is a slight drop in the front-end yields after the Fed. The "wait and watch" language has been good enough so far and Trump's hotter rhetoric about trade negotiations with China." It taps into the two main themes...

Mineral Resources

London metals mixed before US-China trade talks

Investors in London reacted to the Federal Reserve's warning about the potential impact of rising inflation and labor market risks on economic uncertainty by varying the metal prices they paid for. As of 0139 GMT, the benchmark copper price on London Metal Exchange (LME), rose by 0.1% to $9432.5 per metric ton. The Fed maintained interest rates on Wednesday. They acknowledged that the risks of inflation and unemployment were higher, which further clouded the U.S. economy outlook, especially in light of the tariffs imposed by President Donald Trump. Fed Chair Jerome Powell stated that it's not clear whether the economy...

Mineral Resources

British Steel under UK government control to increase output and hire staff

British Steel announced on Wednesday that it will hire more than 180 new employees as it prepares for a production increase following the British Government's operation seizure of British Steel from its Chinese owners back in April. British Steel operates two of the last remaining blast furnaces for England in Scunthorpe. The two blast furnaces in Scunthorpe, eastern England are operating at a loss. Owners China's Jingye Group announced plans to close them down back in March. British Steel announced on Wednesday that it will "significantly" increase its iron and steel production over the next few months, following the government...

Mineral Resources

London metals drop amid caution before US-China trade talks

Metal prices dropped in London on Wednesday, as investors were more cautious about the outcome of a meeting between U.S. trade officials and Chinese counterparts. This was due to investors' concerns over the economic stimulus measures taken by Beijing. As of 0342 GMT, the benchmark copper price on London Metal Exchange (LME), was down by 0.7% at $9,469.5 per metric ton. The plan was to The meeting between U.S. officials and Chinese officials in Switzerland this weekend comes after months of increasing tensions, which have seen the duties on trade between two of the largest economies of the world soar...

Mineral Resources

Gold falls on US-China Trade Talk Hopes; traders focus on Fed policy

The gold price fell on Wednesday, as investors awaited the Federal Reserve policy meeting that would be held later in the afternoon. As of 0225 GMT, spot gold was down by 1.2% to $3,388.67 per ounce. The metal rose by nearly 3% the previous session. U.S. Gold Futures dropped 0.7% to $3 397.70. "Gold is pulling back amid broad-based "risk-on" movement across markets... This pro-cyclical setup could echo optimism amid signs that the U.S. has begun real trade negotiations with China," said Ilya SPivak, Tastylive's head of global macro. This weekend, U.S. Treasury secretary Scott Bessent will be in Switzerland...

Mineral Resources

Metals prices remain tight as the market waits for US-China summit

Investors were waiting for a weekend meeting in Switzerland between U.S.-China trade officials to see if they could bring down the trade war. As of 1400 GMT, the benchmark copper price on London Metal Exchange (LME), was down by 0.1% at $9,533.5 per metric ton. Scott Bessent, U.S. Treasury secretary, told Fox News that he believes the goal is to de-escalate tensions. China's central banking governor announced Wednesday that, to support the economy in the midst of a long-running trade war with the U.S. the bank would, for the very first time, reduce the required reserve ratio for banks by...

Mineral Resources

Copper boosted by weaker dollar and focus on tariff tensions

The dollar eased on Tuesday, but the impact of a slowdown in global demand and growth due to U.S. tariffs on imports and the trade war between China & the United States weighed on sentiment. At 1053 GMT, the benchmark copper price on London Metal Exchange was up by 0.7% to $9,436 per metric tonne. Tom Price, Panmure Liberum's analyst, said: "We are neutral for now and bearish in the second half of the calendar year due to seasonality and policy changes." Tariffs will hurt this year's trade once they have a full impact. The focus is now on whether...

Mineral Resources

Gold reaches two-week high due to demand for safe-haven assets; Fed decision looms

On Tuesday, gold prices reached a two week high as investors remained focused on the Federal Reserve's upcoming policy meeting. They were also concerned about President Donald Trump’s tariff plans. As of 0224 GMT the spot gold price was up 1.4% to $3,380.92 per ounce after reaching its highest level since earlier in session. U.S. Gold Futures rose 2% to $3389.90. "Gold prices are on a strong rise this week as investors return to the safe haven asset in order to hedge portfolio volatility due to renewed tariff worries from U.S. president Donald Trump," said IG's market strategist Yeap Jun-Rong....

Mineral Resources

Copper rises on US-China dialogue hopes

Prices of copper edged up on Tuesday, as positive signs about U.S.-China talks boosted sentiment. However, lingering worries about the broader impact of trade disputes on the economy limited gains. As of 1300 GMT, the benchmark copper price on London Metal Exchange (LME), was up 0.7%, to $9,431 per metric ton. U.S. Treasury secretary Scott Bessent defended Trump's trade tariffs on Monday, pointing out that his larger agenda, including tax cuts, would lead to long-term growth. China's Commerce Ministry announced on Friday that Beijing was "evaluating" Washington's offer to hold discussions over President Donald Trump's tariffs of 145%. The Commerce...

Mineral Resources

Copper heads for a weekly gain in hopes of US-China Trade Talks

Copper prices increased on Friday, and are expected to make modest gains for the week as U.S. trade talks with China's top consumer eased concerns about trade. As of 0704 GMT, the London Metal Exchange reported that three-month copper was up 1.9% at $9,378 a metric ton. This week, it has gained a total of 0.1%. ANZ reported that "copper edged up amid signs of progress in trade deals between the U.S. China's Commerce Ministry announced on Friday that Beijing was "evaluating" Washington's offer to hold discussions over President Donald Trump's crippling trade tariffs. This could signal a possible de-escalation...

Mineral Resources

Copper Heads for Weekly Gain on Hopes of US-China Trade Talks

Copper prices increased on Friday, and are expected to make modest gains for the week as possible U.S. trade talks with China's top consumer eased concerns about trade. As of 0438 GMT, the London Metal Exchange's three-month copper was up 2%, to $9,389 a metric ton. This week, it has gained 0.1%. ANZ reported that "copper edged up amid signs of progress in trade deals between the U.S. China's Commerce Ministry announced that the United States had approached China for talks about President Donald Trump's tariffs of 145% and Beijing was open to discussions. This could signal a possible de-escalation...