Commodities
IsoEnergy, Kineepik Métis Local sign uranium exploration pact
The five-year agreement outlines engagement, employment and capacity-building opportunities for the Métis community in Saskatchewan's Athabasca Basin. IsoEnergy will advance its Larocque East project under the framework.
TotalEnergies to invest in Abu Dhabi oil pipeline expansion amid Middle East transit risks
French energy major TotalEnergies will co-fund the doubling of the Fujairah pipeline in Abu Dhabi, citing the need to secure alternative export routes as Strait of Hormuz disruptions threaten global oil flows.
Norwegian oil firms Equinor, Aker BP, Vaar Energi launch frontier exploration venture
Three major Norwegian energy companies will jointly explore 20-25 frontier prospects on the Norwegian continental shelf, targeting five high-impact wells annually over the next four to five years.
Solstice Gold expands Strathy project with Leckie Zone acquisition
The deal adds 24 hectares of patented claims and 9.4 km² of non-patented claims to the Strathy Gold Project, bringing total holdings to 57 km². Consideration includes $600,000 cash and 2 million shares.
Gold rallies to multi-month highs as dollar shows tentative bottoming signals
Bullion hits $4,650 as DXY nears potential reversal zone; technicals remain bullish but rising dollar risks could pressure gains ahead of U.S. data.
India denies sugar shortage ahead of festive season
Indian Sugar Mills Association head says supply remains 'fundamentally solid' with sufficient stocks to meet demand despite seasonal consumption surge.
Iran blacklists 45 tankers, threatens fines and seizures in Hormuz escalation
Tehran’s new maritime authority imposes restrictions on 45 vessels for alleged rule violations, escalating tensions in a key oil transit chokepoint handling over 8 million bpd.
Gold surges to 14-month high on dollar weakness, Bessent remarks
The yellow metal hit its highest level since June 2023 after a sharp drop in the U.S. dollar, with support from a Treasury debt buyback announcement. Analysts warn the rally may be overextended.
Exxon to automate half of Permian drilling fleet by 2028 in output push
Oil major targets 2.5 million boepd in Permian by 2030 as robotic rigs cut costs and injuries. Automated fleet expansion follows early success with two robotic rigs.
Global steel output falls 0.3% in July as China decline outweighs gains elsewhere
World crude steel production dipped last month, with China's 3.6% year-over-year drop more than offsetting gains in India, the U.S. and Europe. Morgan Stanley cites further weakness in Chinese mills.
Six months of war reshapes global markets, policy focus at Jackson Hole
Geopolitical tensions and energy disruptions drive inflation and policy shifts as central banks convene. Nvidia earnings and South Korea’s rate decision add to the week’s key events.
Diesel crisis deepens as refining outages strain global supply
European diesel prices surge 70% since war began while U.S. cracks hit record highs. Tight refining capacity and shrinking inventories risk prolonging price spikes into winter.
Tanker traffic through Strait of Hormuz weakens amid U.S.-Iran tensions
Weekend transits fell to single digits as threats of oil export bans and economic sanctions escalated. Data shows tanker volumes down roughly 90% from pre-conflict baselines.
Ray Dalio urges 15% gold allocation as US debt policy sparks dollar, yield fears
Gold hits three-month high above $4,640/oz as Treasury yields fall and dollar weakens on surprise U.S. debt-buyback expansion. Dalio flags debt crisis hedge.
European natural gas prices dip 0.8% ahead of U.S. sanctions on Iran
Dutch and British wholesale gas contracts slipped as oil benchmarks pulled back, while markets await Washington’s new economic penalties targeting Tehran’s energy trade partners.
Iran warns of fines, detention for ships violating Hormuz Strait rules
Tehran’s new maritime authority says vessels breaching Gulf traffic regulations face penalties; U.S. prepares fresh sanctions targeting Iran’s financial partners.
Gold approaches double-top pattern as Iran sanctions loom
Technical resistance builds near prior peaks as geopolitical risks and new U.S. sanctions on Iran drive haven demand. Monday’s announcement could reinforce the uptrend or trigger a deeper pullback.
Gold hits three-month high as technical breakout targets $4,895
Technical analysis points to further upside after gold surged past $4,690, with projected weekly resistance levels at $4,788 and $4,895. Central-bank demand and U.S. Treasury actions underpin the move.
Gold options surge as fiscal risks fuel hedge demand, analysis suggests
Renewed interest in gold call options reflects mounting U.S. fiscal concerns and Treasury intervention, with dealers potentially amplifying price moves near key strike levels. Analysis highlights a $4,700–$5,000 'convexity zone' where hedging flows could intensify.
Gold tests key resistance as U.S. sanctions on Iran loom
Iran warns of retaliation as Washington prepares to unveil sweeping new sanctions, while gold faces technical resistance at 73. Treasury Secretary Bessent to detail measures Monday.
Industrial metals outlook: Copper, aluminum and steel forecasts through 2026
J.P. Morgan projects copper at $14,800/mt by Q4 2025, while aluminum targets $3,800/mt in Q3 2026 amid Middle East supply risks. Steel prices diverge by region due to tariffs and China’s property slump.
Six EU countries push for September talks on taxing oil firms' windfall profits
Germany, Spain, Italy and three others urge EU finance ministers to address surging energy costs with a targeted windfall tax framework ahead of September meeting in Dublin.
Iofina installs second brine source at IO11, lifts iodine output by 50%
Completion of brine water source at IO11 facility raises annual iodine production to 45-65 metric tonnes. IO12 plant on track for Q3 2026 start-up with 170-220 metric tonnes capacity.
Fed’s Warsh speech, Iran sanctions weigh on markets ahead of Nvidia earnings
Nasdaq 100 futures slip 0.6% as investors assess geopolitical risks and await Nvidia’s earnings report. Brent crude falls 1.5% to $93.16 amid Iran sanctions outlook.