United Kingdom

The Financial Conduct Authority of Britain fined Wood Group nearly 17?million pounds ($17.39 million) on Wednesday for publishing incorrect information in its financial reports for 2022 and 2023, as well as the first half 2024. Financial watchdog stated that following the poor performance?of certain projects, the company’s accounting judgements were inappropriately affected by a desire to maintain previous financial results. Wood Group's issues became apparent in November 2024. By April 2025, the share price plummeted by 85%. The following month, shares were suspended. Later in the year, Wood Group agreed to be taken over by Dubai-based Sidara for $292 million....

Investors paused on Wednesday to re-energize themselves after a global stock market crash that sent the benchmark index plummeting more than a month ago amid fears of a prolonged and widened conflict in the Middle East. By 0810 GMT, the pan-European STOXX 600 index was up 0.6% to?607.62. Since Friday's record high, the index has lost nearly 5%. The travel and luxury stocks that were at the forefront of this sell-off were each up by more than 1%. The index was boosted by the technology and healthcare sectors. Vistry fell 22% after the UK homebuilder announced that Greg Fitzgerald, its...

?Oil Prices rose 1% on Tuesday as the U.S. and Israeli war against Iran disrupted Middle -East supplies. However, the pace of gains slowed from previous sessions after President Donald 'Trump' raised the possibility of U.S. Navy escorting ships through the Strait of Hormuz. Brent crude oil rose $1.17 or 1.4% to $82.57 per barrel at 0408 GMT after Tuesday's closing price was its highest since Jan 2025. U.S. West Texas Intermediate Crude rose 72 cents or 1% to $75.28 after reaching its highest level since June. Both have risen by 5% or more over the last two sessions. Phillip...

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...

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...

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...

The London High Court ruled that former Yukos investors can enforce arbitration awards against Russia now worth more than $65 billion for the?seizure?of the defunct oil company. Three former Yukos shareholder companies - Hulley Enterprises (formerly Yukos Universal), Veteran Petroleum and Yukos Universal - have been battling to enforce the 2014 award for over a decade, with limited success. They've recovered?only 1.6 million euro ($1.89million) so far. The arbitration tribunal at The Hague awarded the companies just over $50 billion in 2014. The arbitral tribunal found that Russia had carried out "a devious and calculated expropriation of Yukos" after its...

South Africa's Valterra Platinum said that the Zimbabwean government owes it $100 million for 2025 export proceeds. The Zimbabwean government has begun making payments to settle these arrears. Zimbabwe only allows exporters to keep 70% of their foreign currency proceeds, and convert the rest into local currency. According to the Zimbabwean mining chamber, Valterra and other companies in the platinum industry have been delayed payments by the government due to the retention rule. The government has cited cash-flow constraints as the reason for the delays. Zimbabwe's Ministry of Finance and Reserve Bank didn't immediately respond to an inquiry for comment....

Cawthorne crude is similar to Bonny Light and valued for its gasoline and diesel yields Cawthorne export via vessel with a capacity of 2.2 million barrels, increasing production Kpler claims that Nigeria's crude oil and condensate production could reach 1.7 million barrels per day. Seher Dareen and Isaac Anyaogu LONDON, FEB 24 - Nigerian state oil firm NNPC plans to export a new sweet, light crude grade named Cawthorne in March. This will add to the recent increase in production from Africa's largest exporter. This launch is part a broader effort by Nigeria to increase production. It has been hampered...

Investors assessed the risks of a supply disruption after Iran conducted naval exercises near the Strait of Hormuz, just before nuclear talks with the U.S. that day. Donald Trump, the U.S. President, said on Monday that he will be "indirectly involved" in the Geneva talks. He also stated that he believes Tehran is interested in a deal. Trump stated at the weekend that a regime change in Iran would be "the best thing to happen." Brent crude futures fell 0.2% to $68.59 per barrel at 0106 GMT after a 1.3% rise on Monday. U.S. West Texas Intermediate crude oil was...

The Financial Times reported that four EY partners had left the firm because they violated independence rules during their audit of Shell, which led to the termination of the $66 million contract. The report stated that the exits occurred last December, as the accounting firm was rushing to contain the fallout of the 'compliance failures. Shell didn't respond to an immediate?' Shell did not respond immediately to a?'Einenajungiodată conving?zeugnemsprachhneé Ihre EY declined to make sprach EY declines to comment. Shell stated in a July 2025 regulatory filing that EY violated "rules" that require an accounting firm to switch its lead...

The Financial Times reported that four partners had left EY after potential breaches in its audit of Shell, which led to the oil major dropping the accounting firm as its auditor. According to the report, public records and sources familiar with the matter indicate that the partners of one of the "Big Four" accounting and consulting networks left in December. It said that among the four partners who left was a partner who was?ascended to EY's highest ranks only a few months earlier and Gary Donald who led Shell audit. Earlier this month, Shell said it had chosen PricewaterhouseCoopers (PWC)...

On Wednesday, copper prices recovered from two sessions of losses due to better than expected private factory data from China, the top metals consumer. The aluminium price rose to its highest level in more than a month, on the back of supply concerns resulting from the escalating conflict in the Middle East. This region is a major producer of this metal. The benchmark three-month copper price on the London Metal Exchange rose 1.5%, to $13,150 per metric ton at 1030 GMT. LME copper has fallen 3% in the last two sessions due to fears that the Mideast conflict will hinder...

Aluminum prices rose Tuesday, as traders were 'alert' to the supply risks in the Middle East due to the U.S.-Israeli air war on Iran that spilled over into neighboring countries. Benchmark Aluminium on the London Metal Exchange rose 2.1% to $3,260 per metric tonne in open-outcry official trading, after reaching a month-high of $3,315. Middle East exports aluminium via the Strait of Hormuz, which accounts for 8 percent of global capacity. Iran threatened to attack any ship that tried to cross the Strait on Monday. Aluminium producers have halted premium offers for Japanese buyers in the second quarter. Norsk Hydro...

Aluminum?prices jumped to their highest level?in over a month?on Monday, after U.S.-Israeli strikes in Iran fueled concerns about a prolonged conflict in the Middle East. Iran is a major producer. Benchmark aluminium prices on the London Metal Exchange were up 3.1% to $3,236 per metric ton by 1050 GMT, after reaching $3,254 at its highest level since January 29. Investors closely monitor developments in the Strait o'Hormuz. This important trade route for commodities was disrupted when Iran attacked U.S. bases in the region. Neil Welsh, Britannia Global Markets said: "Base metals have risen this morning on the back of concerns...

Prices of copper hit a 4-week high on Friday and are on course for a 7th consecutive monthly gain. Demand optimism has outweighed worries about stocks piling up in warehouses registered at major exchanges. The benchmark three-month copper price on the 'London Metal Exchange' rose by 1.3% in open-outcry official trading to $13,482 per metric ton after reaching $13,527, its highest level since January 30. After a wave speculative purchases, the metal used for power and construction reached a record high on January 29, reaching $14,527.50. One metals trader stated that base metals were also supported by the?investment need for...

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...

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...

China's dominance in critical mineral supply chain is not as absolute it might appear. Cobalt is a good example. According to the International Energy Agency, China will account for 78% global refined production of battery metal by 2024. It lacks significant mining capacity and is therefore highly dependent on imported raw materials. The export controls of the Democratic Republic of Congo have exposed this vulnerability. This is the biggest source of cobalt 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...

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...

Prices of copper fell on Monday as inventories continued to rise. Investors were also unsure about the future of U.S. Tariffs and Chinese Trading ahead of reopening following a holiday. Benchmark three-month Copper on the London Metal Exchange fell 0.9% to $12,843 per metric tonne by 1700 GMT. It had earlier reached a session high of more than $13,050. LME copper is up about 3% in the last four sessions but still far below its record high of $14,57.50 on January 29, which was reached. The fact that there is more inventory outside the U.S. may be a little dampener...

The price of rare Earths has risen sharply, pushing the market price above the minimum price guaranteed by the U.S. government in its groundbreaking deal with domestic producer MP Materials. The good news is that the U.S. government will not be subsidizing MP Materials' production of neodymium, praseodymium or NdPr as long as the price remains above the critical threshold at $110 per kilogram. Since signing the agreement with the Department of Defense in July last year, the innovative 'floor-price' mechanism has protected the U.S. National champion from low prices. DoD earns 30% on the price increase. The problem is...

The prices of copper, aluminium, and other base metals rose on Friday as the U.S. Supreme Court overturned sweeping tariffs that were imposed by President Donald Trump in accordance with a law meant to address national emergencies. London?Metal Exchange benchmark 3-month copper increased 0.8% to $12,917 per metric ton at 1720 GMT. It had previously reached $12,985.50, its highest level in a week. Aluminium also rose 1.2% to $3103.50. The ruling is "constructive" for base metals, as it reduces the near-term risk to global trade flows and demand. The upside will likely be limited, however, given that some sector-specific duties...

Anglo American reported a $3.7billion loss on Friday, after another writedown of its diamonds business. The miner is pushing ahead with plans to shed its non-core assets as well as complete its merger with?Teck Resources. Anglo has wrapped up an uneven reporting season for London listed mining groups. This highlights the divergent fortunes of the industry as Antofagasta benefitted from rising copper prices, while other diversified peers suffered due to weaker markets in iron ore and diamonds. The company recorded a $2.3bn pre-tax impairment on its De Beers division, reducing carrying value from over $4bn to $2.3bn. Analysts' estimates of...