Australian shares gain modestly as commodities support
Australian shares rose on Monday and hovered below the important 8,000-level as commodities fueled a slight recovery in the benchmark index after a selloff in the previous session amid market uncertainty. As of 2341 GMT, the S&P/ASX 200 was up 0.2% to 7963.8. The benchmark index fell 1.8% on Friday to close below 8,000 for the first six-month period, amid uncertainty about global trade.
Bloggers claim that Russian special forces attacked Ukrainian forces at Kursk via a gas pipeline
Pro-Russian bloggers claimed that Russian special forces snuck miles through a large gas pipeline near Sudzha to try to surprise Ukrainian troops as part of a massive offensive to eject Ukrainian soldier from the western Russian region Kursk. In August of last year, thousands of Ukrainian soldiers took over about 1,300 sq km of Russia's Kursk Region in an effort…
Zelenskiy: Ukraine fully committed to constructive dialog with US
The President Volodymyr Zelenskiy stated on Saturday that Ukraine was "fully committed" in having a constructive dialog with U.S. officials next week in Saudi Arabia about ways to end Russia's war. Since taking office as U.S. president Donald Trump in January, he has suspended U.S. military assistance to Ukraine and intelligence sharing with Kyiv. He accused Zelenskiy that he was not serious about reaching an agreement with Russia.
CME Gold stocks reach record levels after recurrent inflows following price swings
CME daily data revealed that gold stocks in COMEX approved warehouses increased by 218,307 to reach a new record of 39,7 million ounces. This was due to residual inflows even after the major disruption had ended. The Comex gold stock has risen 126% since late November when U.S. president Donald Trump announced that he would impose tariffs on Canada, Mexico and other countries.
LNG producer Venture Global raises Plaquemines project cost forecast by $2 billion
Venture Global announced on Thursday that it expects its Plaquemines LNG Plant in Louisiana project costs to be about $2 billion more than its previous estimate due to inflation and various other factors. The LNG producer now expects that the plant will cost between $23.3 and $23.8 billion. Previously, it was expected to be in a price range between $21 billion and $22 billion. The company paid $19.8 billion as of December 31.
The world must adhere to climate goals, despite what the US and UK envoys say
Britain's climate ambassador said that despite the United States pulling out, the world must continue to pursue the reductions in greenhouse gas emissions outlined in Paris Agreement. The UK is also moving forward with its goals. Last month, Donald Trump, the president of the United States, withdrew his country as the second largest emitter in the world from an agreement that seeks to limit global temperatures to below 2 degrees Celsius.
After Trump's tariffs on crude oil, Mexico is seeking Asian and European buyers
Pemex, the Mexican state-owned oil company, is currently in discussions with buyers in Asia and Europe. This is because it's looking for alternative markets to sell its crude oil after U.S. president Donald Trump imposed import tariffs. This week, Trump implemented tariffs of 25% on goods imported from Mexico and Canada. Canadian crude was exempted from the 25% tax, but Mexican crude will be charged at a 10% rate.
After Trump's tariffs on crude oil, Mexico is looking for Asian and European buyers
Pemex, the Mexican state-owned oil company, is currently in discussions with buyers in Asia and Europe. This is because it's looking for alternative markets to sell its crude oil after U.S. president Donald Trump imposed import tariffs. This week, Trump implemented tariffs of 25% on goods imported from Mexico and Canada. Canadian crude was exempted from the 25% tax, but Mexican crude will be charged at a 10% rate.
Canada mentions potash and oil as a possible lever to use in the tariff dispute
Melanie Joly, Canada's Foreign Minister, told Toronto businesspeople on Wednesday that Canada may use its oil and gas exports to negotiate if U.S. import tariffs increase. Canada has announced that it will impose tariffs worth C$155 billion on U.S. imports, but so far has not indicated whether or not it would reduce the exports of important commodities to the United States.
Prices for gas in Europe fall as storage targets are extended and temperatures rise
The Dutch wholesale gas price fell on Wednesday afternnon amid warmer temperatures. In addition, the European Commission announced a two-year extension to winter storage targets. However, it signaled flexibility regarding interim targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 2,15 euros at 41.15 Euros per megawatt hour at 1648 GMT. The Dutch May contract dropped by 0.90 euros to 41.86 Euro/MWh.
Canada cracks down on foreign takeover bids, citing the trade crisis
Canada pledged on Wednesday to restrict foreign companies' ability to conduct "predatory takeover" bids, citing concerns that recent trade turmoil could reduce the value of its domestic firms. The announcement was made by Innovation Minister Francois Philippe Champagne a day after U.S. president Donald Trump began a trade war with Canada and Mexico. According to the Investment Canada Act (IC Act)…
Trump: Japan and South Korea are interested in partnering with the US on Alaska pipeline
Donald Trump, the U.S. In an address to Congress, Trump stated that this pipeline would be the largest of its kind in the world. He said that Japan, South Korea, and other nations wanted to be his partners, with trillions of dollars in investments each. On Tuesday, Ahn Duk Geun, South Korea’s Minister of Industry said that the United States asked South Korea and…
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S.
Palm oil falls due to weaker Dalian oils, and US tariffs
Malaysian palm futures fell on Tuesday due to weaker Dalian oils, and worries about upcoming U.S. trade tariffs against key trading partners. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange fell by 105 ringgit or 2.34% to 4,379 Ringgit ($980.74) per metric ton. The increasing uncertainty on the global vegetable markets has also scared traders, said Paramalingam Supramaniam.
Trump's tariffs threaten Canada's oil and natural gas drillers
Canada's oilfield services and drilling sector has already begun to show signs of slowing down due to the threatened tariffs by U.S. president Donald Trump. This has sparked fears that a rebound in this industry could be halted if these levies are implemented. The Canadian drilling industry lost thousands of jobs between 2014 and 2020 as a result of low oil prices, and the COVID-19 pandemic.
German contracts benefit from rising gas and carbon prices
German power contracts for the year ahead rose Monday in line with higher gas contracts as well as carbon permits. The German power price for the year ahead was up 2.5% to 87 Euros ($90.55). Analysts at Energi Danmark said that the German power market had rebounded sharply after a "massive jump" in gas prices following the Friday meeting between U.S. president Donald Trump and Ukrainian president Volodymyr Zelenskiy…
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT. The Dutch May contract increased by 2.15 euros to 46.80 Euros/MWh.
Report: Brazil may reduce ethanol import taxes as a nod to Trump
The newspaper O Globo, citing reliable sources, reported that the Brazilian government was considering reducing import taxes on ethanol as a means to reduce inflation and appease U.S. president Donald Trump. The report stated that Brazil hopes to try to convince the U.S. Government to make an exemption for the Latin American country in the recently announced 25% tariffs on aluminum and steel imported.
Ambassador to Washington: Philippines-US defense arrangements will remain intact
Manila's ambassador in the United States, who spoke on Monday, said that existing defence agreements between the Philippines and United States would remain intact under Donald Trump. Jose Manuel Romualdez, a reporter at a forum for foreign media in Manila, said that Ferdinand Marcos Jr., the Philippine president, is willing to travel if Trump can meet him. This could happen in the northern spring.
