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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...

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...

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...

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)....

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...

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...

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...

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...

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...

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...

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,...

The International Monetary Fund lowered its forecast for global growth in 2026 to a slow 3.0% on Wednesday, warning about the ongoing risks associated with the Middle East war, trade fragmentation, and possible corrections to market expectations in AI. The 'global lender' said that the world economy avoided a sharper decline, as demand for AI and technology helped to offset the sharp fall in energy supplies due to the war. The growth rate should return to 3,4% by 2027. However, this is still lower than the 3.5% average seen between 2024 and 2025. The IMF forecasted 3.1% growth in April....

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...

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...

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...

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...

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...

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...

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...

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...

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...

Gold was down on Friday and set to lose a 'weekly loss' as concerns about the Federal Reserve tightening monetary policy were fueled by rising crude oil prices and tensions between Iran and the United States. By 1106 GMT, spot gold had fallen 0.4% to $4105.97 an ounce, a decline of about 1.6% over the past week. U.S. Gold Futures for August Delivery fell 0.6% to $4114.80 an ounce. Han Tan, Bybit's chief market analyst, said that spot prices "may again test $4,000 per ounce as a psychological support level should tensions escalate and oil prices extend their recovery." The...

Gold?edged down on Friday - and was on course for a 'weekly drop, on fears that escalating U.S. - Iran tensions would fuel inflation. This could keep the Federal Reserve hawkish in its monetary policy. Gold spot fell by 0.2%, to $4.113.02 an ounce at 0735 GMT. It was on track for a weekly drop of 1.5%. U.S. Gold Futures for August?delivery fell 0.4% to $4121.90. Tim Waterer is the chief analyst at KCM Trade. He said that gold was in consolidation mode after yesterday's gains. Traders were hesitant to commit to further upward movement due to the uncertainty surrounding...

Gold prices rose on Friday as the dollar weakened, but were on course for a weekly decline on fears that the escalating tensions between the U.S. and Iran could fuel inflation. This would keep the U.S. Federal Reserve in a hawkish policy direction. As of 0303 GMT spot gold was up by 0.2%, at $4,128,92 per ounce. It is heading for a weekly decline of over 1%. U.S. Gold Futures for August Delivery were unchanged at $4,139.50. Dollars were at their lowest level in a week, which made greenbacks priced bullion more accessible to holders of other currencies. Tim Waterer...