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Record-high freight costs are changing the behavior of Asian buyers who are increasingly using smaller tankers and ships under long-term charter deals to pick crude oil supply, refining and trading sources tell Reuters. The costs of shipping crude oil have soared to record highs in recent weeks as the Iran war reshuffled trade routes and patterns and tied up more supertankers in inefficient and…
Phoenix Tailings to build $375-million rare earths facility in New York state
The acceleration of plans for alternative routes to ship oil out of the Middle East could make the Strait of Hormuz “redundant” in five years, Georges Elhedery, chief executive of banking giant HSBC Group, said at the HSBC Future Forum 2026 in Dubai on Tuesday. “Of course, we do wish and hope to see a resolution to the conflict,” the executive said, as carried by Reuters. “But Hormuz, probably in…
Grain futures rise after hitting multi-week lows on Tuesday
Thermal coal prices in Asia are expected to stay elevated in the coming months as demand is strengthening in the ongoing gas-to-coal switch, while supply from China and Indonesia is falling, Fitch Ratings said in a report. Coal prices in China, for example, have hit a three-year high in recent weeks as supply from key exporter Indonesia remains restricted due to government policies and strong El…
European natural gas prices top €90 per MWh for first time since 2022
Morning Bid: Rain from the neocloud
Iran prolongs talks in stalemate to influence US midterms, officials say
Could disillusioned Kansas voters send their first Democrat to the US Senate in 94 years?
Saudi Aramco sells more fuel oil cargoes for November loading
Europe gas trades at 2022 highs as Houthi strikes trigger supply fears
Liquefied natural gas prices on the Asian spot market topped $30 per million British thermal units for the first time since December 2022, Bloomberg reported earlier today. The price jump follows a report about a strike on an LNG tanker in the Gulf of Aden, off the Yemeni coast. The UK Maritime Trade Operations outlet reported an LNG carrier coming under attack in the Red Sea, from a small boat,…
As France erupts, Europe’s far right gains from fuel-price anger ahead of elections
Crude oil prices extended their climb today, with Brent topping $110 per barrel again earlier in the day, and WTI back at over $100, as traders turn increasingly pessimistic about the resumption of normal oil flows out of the Persian Gulf. At the time of writing, Brent crude was trading at $109.68 per barrel, with West Texas Intermediate at $98.55 per barrel. Brent crude is trading at its highest…
How safe havens stack up as tech, energy and France fears grip markets
Gold dips as oil prices fuel inflation fears, Fed outlook in focus
US to launch $8 billion support program for farmers to offset diesel costs, Trump says
Oil holds near five-month high as Hormuz attacks threaten supply recovery
Oil eases as markets assess potential waiver on Russian energy, Middle East supply risks
Last year, China started requiring export licenses for rare earth magnets. Within weeks, Elon Musk was telling investors that production of Tesla's Optimus robot had been affected. That's because every humanoid robot needs up to 4.5 kilos of rare earth magnets to move, and China makes more than 90% of the world's supply. It's exactly the problem REalloys (NASDAQ: ALOY) has been building to help…
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