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The death toll from the fire on a Chevron operated oil platform off Angola has now reached three. Government and company officials confirmed this late Tuesday. Officials said that two workers had been transferred to South African hospitals with specialist units, and the body of the third worker was still to be recovered from the ocean. The fire that broke out at the Benguela Belize Lobito (BBLT), a deep-water platform, in the early hours of the morning on May 20, injured seventeen people, including four who were seriously hurt. According to a government source, the accident happened in the week...

Three sources familiar with the decision confirmed on Tuesday that the Trump administration had granted a limited authorization to U.S. oil company Chevron, allowing it to retain assets in Venezuela. This included its stakes in joint ventures for oil with PDVSA. In recent weeks, Chevron and other European companies had been in discussions with Washington officials to get authorizations for their assets and stakes in Venezuela due to President Donald Trump’s restrictive policies. The guidelines were issued as the administration let the Chevron's license to operate in Venezuela expire Tuesday. Joe Biden, the former U.S. president, had granted that license...

Clariant was one of four companies that received a claim for damages of approximately 1 billion euros ($1.14billion) from Austrian Energy Company OMV, the company said on Tuesday. The claim is related to alleged violations of competition law on the market of ethylene purchases. The Swiss chemicals company clariant said: "Clariant rejects this allegation firmly and will vigorously defend its case in any proceedings." OMV confirmed that it filed a lawsuit against Clariant, but stated it couldn't comment on the ongoing legal proceedings. Clariant didn't name any of the other companies. OMV also did not name them. Clariant stated that...

The Dutch and British wholesale prices of gas were not much different on Tuesday morning, as the warmer weather helped to reduce demand and offset a weaker Norwegian supply due to maintenance at Troll gas fields. LSEG data shows that the benchmark Dutch front-month contract was 36.84 euros per Megawatt Hour (MWh) or $12.25/mmBtu at 0818 GMT. This is a decrease of 0.31 euros. The Dutch July contract increased by 0.06 Euros to 36.88 euros/MWh. The British day-ahead contracts rose 0.35 pence, to 87.60p/therm. In a daily research report, LSEG analyst Saku Jusli stated that "demand is slowly decreasing with...

The oil prices were little altered on Tuesday, as the expectation that members of OPEC+ (Organisation of Petroleum Exporting Countries plus their Allies) will decide to raise their production at a later meeting this week increased. Brent crude futures rose 11 cents or 0.2% to $64.85 per barrel at 0640 GMT. U.S. West Texas Intermediate crude (WTI), however, gained 6 cents or 0.1% to $61.59 per barrel. WTI did not settle Monday due to the U.S. Memorial Day Holiday. Daniel Hynes said that the crude oil price fell as the market pondered the prospect of a rising OPEC production. OPEC+...

Oil prices fell for a second time on Tuesday, as expectations grew that members of the Organisation of Petroleum Exporting Countries (OPEC+) and their allies would decide to raise their production at a meeting this week. Brent crude futures fell 24 cents or 0.4% to $64.50 per barrel at 0507 GMT. U.S. West Texas Intermediate crude (WTI crude) was down 29 cents or 0.5% at $61.24 per barrel. WTI did not settle Monday due to the U.S. Memorial Day Holiday. Daniel Hynes is a senior commodity strategist with ANZ. He said that crude oil prices fell as traders pondered the...

The oil prices fell on Tuesday, as participants weighed up the possibility that OPEC+ would decide to increase crude oil production at a meeting scheduled for later this week. Brent crude futures fell 12 cents or 0.19% to $64.62 per barrel at 0022 GMT. U.S. West Texas Intermediate was down 15 cents or 0.24% at $61.38 per barrel. Daniel Hynes is a senior commodity strategist with ANZ. He said that crude oil was edging lower as the market considered the prospect of rising OPEC supplies. Three sources in the group said that eight OPEC+ member countries who had pledged to...

The CEO of the Pirelli group told Corriere della sera that the Italian tyre manufacturer is in a dangerous situation because its Chinese major shareholder Sinochem has rejected the company's proposal to resolve governance issues which could hamper its expansion in the United States. Pirelli, and its second largest shareholder, Italy's Camfin have stated that Sinochem's stake in the company poses a risk to Pirelli's ambitions of expanding into the U.S. where some legislators are against approving projects supported by Chinese companies. Pirelli's Chinese shareholders rejected the company's proposal earlier this month, despite it not being detailed. In an interview...

Bloomberg News reported that the U.S. administration of President Donald Trump is about to issue Chevron a license which will allow it to maintain essential operations in Venezuela with minimal effort. According to the report, which cited people with knowledge of the issue, the U.S. Treasury Department intends to grant the waiver, allowing Chevron only to perform safety and maintenance functions in Venezuela. Chevron and the U.S. State Department as well as Treasury Department have not responded to immediate requests for comments. The U.S. business license in South America is due to be renewed. Expiration Date Most partners of Venezuelan...

Anfield Energy’s proposed Velvet Wood uranium mining project in Utah was approved by the Trump administration on Friday following a rapid environmental review of 14 days. This is part of a process designed to speed up permitting for energy and mining projects. These studies can take many years to complete due to the potential environmental impact of uranium mining. The Canadian project is the first to be approved under an emergency process Interior Department must permit energy installations on federal land. The new procedures were created in response to the national energy emergency declared by President Donald Trump on his...

Erlan Akkenzhenov, the Energy Minister, was quoted saying that Kazakhstan's oil production will probably exceed its original plans of 96.2 millions tons for 2024 due to expansion in the Chevron-led Tengiz Field, despite pressure from OPEC+. Kazakhstan has cited the rising production at Tengiz as the reason it has consistently exceeded quotas established by OPEC+. OPEC+ is made up of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Kazakhstan and Russia. The Russian state-run news agency TASS reported that Akkenzhenov said in a podcast on Thursday night that the expansion of Tengiz was brought forward earlier...

Afghanistan's acting Commerce Minister said that the Taliban administration has advanced discussions with Russia to allow banks from both sanction-hit economies, Russia and Afghanistan, to settle trade transactions in local currency worth hundreds of millions in dollars. Haji Nooruddin, Azizi's minister, said on Thursday that the Afghan government had made similar offers to China. He said that discussions had taken place with the Chinese Embassy in Kabul. Azizi stated that technical teams in both countries were working on the proposal with Russia. As Moscow looks to use national currencies as a way to move away from the dollar, and Afghanistan...

The industrial metals market was subdued Wednesday due to a stronger dollar. However, the improved risk appetite on financial markets after President Donald Trump’s latest tariff relief offered some support. The London Metal Exchange reported that the price of three-month copper was $9,585 per ton at 0704 GMT. This is a 0.1% decline. The Shanghai Futures Exchange's (SHFE) most-traded contract for copper fell 0.1% to 78.200 yuan per ton ($10,868.36). Dollar-denominated investments are now more expensive for holders of currencies other than the dollar. In its latest monthly bulletin, the International Copper Study Group reported that the global refined copper...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Elon Musk launched SpaceX's starship rocket in space on Tuesday. The vehicle failed to meet several goals after SpaceX lost control, causing flights to be temporarily halted in some Caribbean areas. Mark Carney, Canadian Prime Minister, said that officials in Ottawa are in intense negotiations with Washington on a bilateral economic and security agreement. It is neither in the interest of Donald Trump nor his government to continue talks through the fall. General Motors announced that it...

The gold price rose on Wednesday as investors bought at the bottom. However, gains were capped due to easing U.S. - EU trade tensions. Now, the market is awaiting the upcoming U.S. Personal Consumption Expenditures Report for clues on interest rates. As of 0237 GMT spot gold rose 0.3% to $3,308.99 per ounce. This was a slight recovery from the 1% drop in the previous session. U.S. Gold Futures increased 0.2% to $3.308.00. Donald Trump, the U.S. president, has backed off his threat to impose a 50% tariff on the European Union. He will now delay its implementation until the...

The rand of South Africa fell against the dollar Tuesday as risk sentiment increased following Donald Trump's decision not to impose tariffs on Europe. At 1510 GMT the commodity-backed currency of the country traded at 17,8900 per dollar, down about 0.2% from its previous closing. The Top-40 index on the stock exchange was flat, with mining companies facing pressure due to the drop in gold prices of more than 1%. Gold Fields, AngloGold Ashanti, and Sibanye Stillwater are all South African mining companies that traded lower for most of the trading session on Tuesday. Shares of Harmony Gold fell even...

Gold prices fell for the second session in a row on Tuesday as risk sentiment improved after U.S. president Donald Trump announced that he would postpone tariffs against the European Union. After a nearly 5% rise last week, spot gold dropped 1.4% to $3296.79 per ounce at 0901 ET (1301 GMT). U.S. Gold Futures fell 2.1% to $3.296.10. Gold prices are volatile as the tariff situation is constantly changing. Bart Melek is the head of commodity strategy at TD Securities. He said that the market is currently under the impression there is a good deal and this is pushing gold...

Nippon Steel may offer a "golden share" in U.S. Steel in order to complete its long-sought purchase of the iconic American company, the Nikkei reported in Japan on Tuesday. Kyodo, a Japanese news agency, also reported that Washington was debating the idea. This would allow Washington to veto important managerial matters. The information was not attributed to any sources. Nippon Steel refused to comment and the White House was not immediately available for comment. The secretive Committee on Foreign Investments in the United States has been reviewing the deal twice for national security by Japan's largest steelmaker. Donald Trump signaled...

Gold prices fell more than 1% Tuesday, as the dollar's return to higher trading added to the pressure placed on the safe haven asset after U.S. president Donald Trump's less aggressive stance on trade with the European Union. As of 0833 GMT, spot gold was down by 1.2% to $3304.34 per ounce. U.S. Gold Futures dropped 1.9% to $3.303.40. Prices also softened Monday after Trump, who had threatened to impose tariffs against the European Union in July, reversed his decision on Sunday. He instead reinstated a deadline of 9th July for trade negotiations. "Gold trades down for a second consecutive...

Gold was close to its two-week high Tuesday due to the weaker dollar, and investors were waiting for further U.S. data on interest rates. As of 0228 GMT, spot gold had not changed much from $3,339.99 per ounce. The U.S. markets and London's were closed for the holiday on Monday. U.S. Gold Futures dropped 0.8% to $3339.80. At this point, gold prices are consolidating. The market is waiting for the next catalyst, said Kelvin Woong, senior analyst at OANDA, Asia Pacific. Market participants are worried about the growing U.S. deficit, which is driving down dollar strength and supporting gold prices....

NATO Secretary General Mark Rutte stated on Monday that, he believes the alliance will agree to an overall defence spending target at 5% of their gross domestic product when they meet in The Hague for a summit next month. Rutte, speaking at the NATO Parliamentary Assembly meeting in Dayton, said: "I expect that we will reach an agreement in The Hague on a target for a high defense spending of 5%." He added: "Let's assume that 5% of the total hard spending is a target. I won't say how it breaks down, but the amount will be north of 3%....

Gold prices dropped nearly 1% Monday, after U.S. president Donald Trump dropped his threats to impose tariffs of 50% on goods imported from the European Union starting June 1. This reduced demand for this safe-haven investment. By 1250 GMT, spot gold was down 0.8% to $3,332.04 per ounce. U.S. Gold Futures dropped 1% to $3331.90. The UBS analyst Giovanni Staunovo said, "I'd call it a range trading day." He attributed the modest decline in prices to Trump delaying the imposition higher tariffs against the EU. The activity today is likely to be lower due to Memorial Day in the United...

Volvo Cars, based in Sweden, announced on Monday that it would cut 3,000 jobs - mostly white collar - as part of the restructuring announced last week. The company is struggling with high costs and a slowdown in demand for electric vehicles as well as uncertainty about trade tariffs. Volvo Cars is owned by China's Geely Holding and announced a program to cut costs by 18 billion Swedish crowns (US$1.9 billion). The company also warned that layoffs were inevitable. According to the earnings report, 43,500 employees worked full time for the automaker and 3,000 were employed by staffing agencies. Volvo...

Gold prices dropped on Monday as U.S. president Donald Trump reversed his threat to impose tariffs of 50% on goods imported from the European Union starting June 1. This reduced demand for this safe-haven investment. As of 0848 GMT, spot gold was down by 0.7%, at $3,334.53 per ounce. U.S. Gold Futures dropped 1% to $3333.40. The UBS analyst Giovanni Staunovo said, "I'd call it a range trading day." He attributed the modest decline in prices to Trump delaying the imposition higher tariffs against the EU. The activity today is likely to be lower due to Memorial Day in the...