United States








Energy Markets

Fossil Fuels

Fossil Fuels

Can US Senator Lindsey Graham’s Ukraine initiatives survive his absence?

The sudden death of U.S. Senator Lindsey Graham asks an important and timely question: Will the recent shift in President Donald Trump's administration's favor to Kyiv continue without a close ally? Answer will have a major impact on 'two main issues: legislation to sanction Russia which Graham has pushed for over a year and military aid for Ukraine. Both the momentum and the pressure have shifted in favor of Ukraine as Kyiv has faced intensified Russian attacks, while also being under intense international pressure to put an end to the almost 4-1/2 year-old conflict. Graham and the other senators who...

Oil & Gas Drilling

BP's second-quarter oil results are slightly higher

BP said on Tuesday that it expects to see a slight increase in its oil trading results compared to the first quarter. This is because the oil price surge caused by the Iran War will allow the company to profit again. BP said that it expects its upstream production will fall?into the second quarter between 2.17 and?2.22 million barrels equivalents per day. This is compared to around 2.34 mln boed during the first quarter. It reported that its gas trading results were essentially flat when compared to the first quarter. Net debt is expected to fall between $22 and $23...

Fossil Fuels

Oil prices rise by one month as US and Iran intensify attacks on Strait of Hormuz

Oil prices rose by?nearly 3 percent on Tuesday, reaching their highest level in four weeks. The U.S. reimposed its 'naval blockade of Iran, while both countries intensified attacks in the Strait of Hormuz. This increased uncertainty over energy flows. Brent crude futures rose last $1.50 or 1.8% to $84.80 a barrel at 0330 GMT. U.S. West Texas Intermediate Crude rose $1.70 or 2.2% to $79.84 per barrel. Brent gained?9.6% the day before, which was its largest daily gain since may 2020. The oil prices have reached their highest level since June 17, when the two countries signed a Memorandum of...

Fossil Fuels

Trump notifies Congress that the Iran conflict has resumed

Donald Trump, the U.S. president, has sent a formal notification to Congress that hostilities against Iran resumed on 7 July. His administration interprets this letter as opening up a 60-day window for the use of military forces in the region without the approval of Congress. Trump wrote in a letter dated July 10 that he had taken 'this military action' to protect Americans, the United States and its national security interests. The letter details Trump's actions, including his order of a ceasefire for two weeks on April 7 which was then extended and his administration's attempts to find a diplomatic...

Oil & Gas

Argentina's YPF Electric Energy reveals a revenue increase in its US IPO application

YPF Electric Energy, an Argentinian energy company, announced a '45.8% increase in quarterly revenues in its IPO filing on Monday. It joined a 'wave' of companies from a similar sector that are seeking a New YORK IPO amid improved market sentiment. Investor confidence has increased in Argentina following President Javier Milei’s market-oriented Reforms and renewed interest for the country’s energy sector. Argentinian energy firm Genneia filed for an IPO in the United States earlier this month. Pure-play power company YPF Electric Energy operates 17 thermal power plants and renewable energy sources with a total installed capacity of 3,764 megawatts (MW)....

Fossil Fuels

Gulf markets are in the red as hostilities escalate

The major Gulf stock markets fell on Monday as hostilities increased in the region. Iran also announced that it had closed the Strait of Hormuz - a strategically important waterway - causing oil prices to rise and rekindling global inflation fears. Central Command reports that U.S. forces launched a second wave of strikes on Iran Sunday. They used precision munitions to target dozens of locations in multiple locations. Iran's Revolutionary Guards claimed Monday that they had "retaliated" by attacking U.S. bases in Kuwait, Bahrain and other countries. U.S. president Donald 'Trump' said on Sunday that commercial traffic was still allowed...

Fossil Fuels

Iraqi Prime Minister to Visit Washington on Monday, Oil and Gas Deals Expected

Iraq's Prime Minister will visit Washington, D.C. on Monday to strengthen strategic ties. Oil and gas deals are expected to be signed as part of an broader push towards economic, trade, and investment cooperation. Iraq is trying to maintain a balance between its relations with Iran, its neighbour, and the U.S. Haider al Aboudi, a government spokesperson, said that the agreements will include memorandums?of understanding in the oil and natural gas sector. Iraq is preparing to bring in various U.S. firms to provide a boost to oil production. Al-Aboudi of Iraq's State News Agency said that the planned oil and...

Fossil Fuels

Iran media reports that the fire at a western Iranian mini refinery has been contained.

The semi-official YJC Iranian news agency, citing a local source, reported that a fire which broke out on Friday?at 'the Oxin Palayesh'mini-refinery' in Iran's western Lorestan Province has been put out. YJC quoted the safety manager at Lorestan Industrial Estates Company as saying that the fire was contained to a 'barrel of waste oil' and 'didn’t spread to refinery facilities or storing tanks. Iranian state media reported earlier that a fire had broken out just after 5 pm local time, sending a thick smoke column over Poldokhtar. Firefighters initially struggled to contain the blaze due to its 'intensity' and presence...

Fossil Fuels

Weekly gain in oil heads as Middle East supply risk persists

The oil price fell on 'Friday, but remained on course for a weekly gain as renewed U.S. - Iran fighting disrupted shipping through the Strait of Hormuz. This stoked concerns about supply disruptions. Brent futures fell 68 cents or 0.9% to $75.62 per barrel at 0817 GMT. U.S. West Texas Intermediate crude (WTI), which is a blend of U.S. and Canadian crudes, fell 64 cents or 0.9% to $71.44. Brent was expected to gain about 5% this week and WTI would increase by about 4%. Vandana Hari, an analyst at Vanda Insights who provides oil market analyses, said that although...

Fossil Fuels

The IEA warns that escalation between the US and Iran could threaten oil surpluses in 2027.

The International Energy Agency said that the recent escalation of hostilities between the U.S., and 'Iran, could change its 'forecast of an 'important oi l market surplus next year. The global oil market received some relief last'month, as a peace deal between the U.S.A. and the 'Iran opened the Strait. Its closure had effectively cut off 'as much as 14 million barrels of crude oil per day during the height of the biggest oil supply crisis ever. The agency reported that global oil production rose by 4.1 mbpd in June but was still 9.4 mbpd lower than pre-war levels. The...

Fossil Fuels

Sources say that Indian BPCL, and Japan's Taiyo Oil purchase US crude through tenders.

According to sources in the trading world, India's Bharat Oil Corp and Japan's Taiyo Oil purchased 'crude' from the United States this week, as refiners sought to diversify their supplies amid the Middle East conflict. Four sources claim that BPCL purchased West Texas Intermediate crude oil from Vitol. The refiner has booked an Aframax Tanker that can?carry up to 600,000.0 barrels of crude oil, according to two of the witnesses. They added that the oil was purchased at a price premium of?around 6 per barrel over dated Brent. A separate trader reported that Taiyo Oil purchased 2 million barrels for...

Refined Products

Oil prices rise after US strikes on Iran

Oil prices rose on Thursday, after the U.S. launched new?strikes in Iran. This dented hopes of an end to the Iran war, and the full reopening of the Strait of Hormuz. The Strait of Hormuz is a chokepoint that supplies one-fifth of the world's oil supply before the war. Brent crude futures were up 78 cents or 1% at $78.8 per barrel as of 0054 GMT. U.S. West Texas Intermediate Crude Futures rose 74 cents or 1.01% to $74.26 per barrel by 0054 GMT. WTI and Brent crude prices rose by more than $1 in the post-settlement trading on Wednesday,...

Crude Oil

Crude Oil

Oil prices rise after Trump's Hormuz levies threat

U.S. Stock Futures traded in choppy trade on Tuesday, after President Donald Trump announced that the U.S. was reinstating its ban on Iranian shipping. Investors also 'picked through' the earnings reports from Wall Street’s largest banks. The U.S. Military carried out strikes against Iran overnight. President Donald Trump reinstated the blockade of Iranian ships and proposed charging a fee of 20% to guard Strait of Hormuz. S&P futures were 0.1% lower during early European trading, while Nasdaq's futures remained 0.5% higher. Brent crude futures rose around $2.80 to $86.19 per barrel, the highest since mid-June. U.S. Crude Futures rose $1.60...

Crude Oil

Joachim Klement: Why NATO should ask Ukraine for assistance

Western governments are re-arming, but may be spending billions on the wrong arsenals. Drones and algorithms are just as important as tanks and missiles. Ukraine could be in a good position to show what the West needs today. Last week, at the NATO summit held in Ankara (Turkey),?U.S. The President Donald Trump, Secretary of State Marco Rubio, and others noted that Ukraine was able to use drone technology to strike Russian energy infrastructure. They called this an "escalation," which they believed could lead to the resolution of the conflict. The European Union is looking to rearm itself, due to the...

Crude Oil

Asian stocks fall as oil prices rise after Trump's Hormuz levies threat

Oil hit a new one-month high on Tuesday in Asian trading after President Donald Trump announced that the U.S. would reintroduce its blockade of Iranian ships and collect a?20%?fee for cargo crossing the Strait of Hormuz. After a volatile session MSCI's broadest Asia-Pacific share index outside Japan gained 0.2% as gains in Taiwan were offset by gains for South Korean stocks. S&P 500 futures e-mini edged up 0.1%. The CSI 300, which tracks Chinese stocks, rose 2% as export and import figures for June were released on Tuesday. These data exceeded economists' predictions. ING analysts reported in a research note...

Mining

Mineral Resources

Mineral Resources

Gold gains over 2% after soft US inflation data

Gold rose more than 2% Tuesday, after inflation data that was softer than expected boosted expectations of the U.S. Federal Reserve taking a less hawkish position. Gold spot rose 2.1%, to $4.083.99 an ounce at 8:49 am EDT (1249 GMT), having fallen to its lowest price since July 1, earlier in the day. U.S. Gold Futures rose 2.2% to $4091,80. Other currency holders can now afford greenback-priced gold because the U.S. Dollar has fallen by 0.6%. "Gold gallops higher on a subdued CPI that saw headlines dive lower, but more importantly core unchanged?versus 0.2%. "This should reduce expectations for rate...

Mineral Resources

Markets await US inflation data as gold bounces back from a two-week low

Gold gained a little?on?Tuesday, reversing its course after?hitting a?two-week low earlier... in?the session. The focus was on the U.S. Consumer Price Index and Federal Reserve chair Kevin Warsh's testimonies for clues about monetary policy outlook. Spot gold increased 0.5% at $4,021.38 an ounce to 1100 GMT after dropping to its lowest level in the session since July 1. U.S. Gold Futures for August Delivery gained 0.6% to $ 4,029.20. Ricardo Evangelista, ActivTrades analyst, said that gold prices were edging up a bit today. This was due to a pause on the recent rally of the U.S. Dollar. Dollar-priced gold is...

Mineral Resources

Copper reaches three-week high due to China's tightening and supply concerns over Iran attacks

On Tuesday, copper 'prices' rose to their highest level in three weeks due to signs of a firmer China demand and shortages. The benchmark three-month copper price on the London Metal Exchange rose 0.4% by 0930 GMT to $13,601 per metric ton, its highest level since June 23. Ewa Mnthey, commodities analyst at ING, said that copper is being supported by a combination of strong Chinese data and tighter physical market conditions. Exports from the top metals consumer, China, surged in June. This was their best performance for four months. The Shanghai Futures Exchange's most traded copper contract rose by...

Mineral Resources

London copper prices slip on Hormuz concerns as a gloomy demand offsets supply-chain woes

The price of copper in London fell slightly on Tuesday, amid the latest escalation of the Middle East conflict. However, this was offset by concerns over a possible supply chain crisis. Benchmark 'three-month' copper prices on the London Metal Exchange dropped 0.18% to $13,516 per metric tonne by 0300 GMT. After an increase in LME copper prices overnight, the most-traded contract for copper on the Shanghai Futures Exchange increased by 0.64%. It now stands at 103950 yuan a ton. Donald Trump, the U.S. president, and Iran announced that they would both blockade the Strait of Hormuz. The U.S. has renewed...

Mineral Resources

ReElement Technologies receives $25 million from the Pentagon

The U.S. Department of Defense announced?on Monday that it would invest $25,000,000?in the rare earths startup ReElement Technologies. This is part of an?overall push by the 'Trump administration? to bolster domestic supplies of vital minerals and challenge China’s dominance of this sector. ReElement plans to refine rare Earths and other essential?minerals in its commercial facility planned for Marion, Indiana. Rare?earths will be used to make magnets for a variety of military equipment including fighter jets missiles and subs. The $25 million investment was not immediately clear whether it is a loan, grant or other funding mechanism. Pentagon and ReElement representatives...

Mineral Resources

As rising Middle East tensions fuel interest rate hikes, gold prices drop by nearly 3%

Gold prices dropped nearly 3% Monday after U.S. president Donald 'Trump' said he would reinstate a naval blockade against Iran. This would boost oil markets and reignite inflation fears, as well as raise the prospect of longer-term higher U.S. rates. By 10:38 am EDT (1438 GMT), spot gold had fallen 2.8%, to $4.005.59 an ounce. This was the lowest price since July 1. Prices fell for a second consecutive session. U.S. Gold Futures fell 2.4% to $4013.40. The Middle East conflict is causing oil prices to rise, and the Federal Reserve could tighten policy. This is bad for gold and...

Mineral Resources

As rate hike fears increase due to rising Middle East tensions, gold drops by more than 1%

Gold prices dropped more than 1% on Sunday as fresh strikes in the Middle East sparked inflation fears, raising the prospect of longer-term interest rates in the United States. By 9:08 am EDT (1304 GMT), spot gold had fallen 1.4%, to $4.064.02 an ounce. Prices fell for a second consecutive session. U.S. Gold Futures fell 1% to $4 071,80. "I'm not bullish on gold for the short term." The Middle East conflict is causing oil prices to rise, and the Federal Reserve could tighten policy. This is bad for assets that yield nothing, like gold", said?Fawad Rasaqzada at Forex.com. He...

Mineral Resources

India's trade secretary reports that the India-US talks are progressing well.

India's trade minister said that the talks between India and America are "progressing well" and New Delhi does not see any obstacles to a successful conclusion of a deal. The framework agreement is complete. The framework deal will be signed when the time is right, said Rajesh Agrawal, trade secretary, at a June press conference, as he presented monthly data on exports and imports. In February, both sides agreed on a?18% tariff on Indian goods as a trade-off for New Delhi to lower its trade barriers and buy more American goods. The U.S. Supreme Court's ruling invalidating President Donald Trump’s...

Mineral Resources

Gold prices continue to decline as Middle East tensions support a higher-for longer rate view

Gold prices fell for a second session in a row on Monday, as renewed?hostilities? in the Middle East fueled inflationary fears and raised expectations that the U.S. Federal Reserve would keep interest rates high for longer. By 1100 GMT, spot gold had fallen 1.4%, to $4.061.64, while U.S. Gold Futures for August Delivery were down by 1.1%, to $4.069.60. U.S. forces and Iranian drones have exchanged heavy attacks, including missiles and drones. Tehran has also hinted at the closing of the Strait of Hormuz. On hearing the news, oil prices rose by over 3%. "Renewed hostilities (in the Gulf) rekindle...

Mineral Resources

Gold prices continue to decline as Middle East tensions support a higher-for longer rate view

Gold prices fell for a second session in a row on Monday, as renewed 'hostilities' in the Middle East fueled inflationary fears and raised expectations that the U.S. Federal Reserve would keep interest rates high for longer. Spot gold fell 1.2% at $4,072.49 an ounce as of 0847 GMT. U.S. Gold futures for August were down 0.8% at $4,081.30. U.S. forces and 'Iranian forces have exchanged heavy drone and missile assaults. Tehran has targeted U.S. facilities in states on the other side of the 'Gulf, and hinted at the closing of the Strait of Hormuz. On hearing the news, oil...

Mineral Resources

Wall Street Journal, July 13,

These are the most popular?stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. Regis Resources has said that it will not match Genesis Minerals' bid of US$3.9 billion for Vault Minerals, because a planned merger between the two gold-mining firms would no longer meet their thresholds in terms of value and return. Shein, the fast-fashion retailer, has cleared a major hurdle in its long-awaited Hong Kong initial public offer. The listing could be valued at over $40 billion according to people who are familiar with this matter. According to sources familiar...

Nuclear Power

Holtec Nuclear Corporation files for US IPO amid surging power demand

Holtec Nuclear Corporation, an energy company in the United States, filed for an initial public offer. Holtec Nuclear Corporation filed for an initial public offering in the United States on Friday. After a few years with muted issuances the U.S. IPO has experienced a resurgence. Larger deals and AI-linked listing have driven dollar volumes to record levels even though the number of offerings remain?far below previous boom-era peaks. The government's?drive to quadruple U.S. nucleonic capacity by 2050 in order to meet the rising demand for power from?data centres, electric vehicles, and cryptocurrency mining has also benefited energy sector IPOs. Holtec...