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Commodities
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China's shipbuilding orders nearly triple, boosted by Iran war
China's shipbuilding orders nearly triple, boosted by Iran war
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U.S. national average retail diesel prices surged to a record high of $6.45 per gallon, with refinery outages in the Midwest exacerbating supply tightness.
The national average retail price for diesel has risen to $6.45 per gallon, a new record high, according to the latest data from the American Automobile Association (AAA). Meanwhile, ExxonMobil's larg
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General Motors delivered the first batch of Patriot missile components to Lockheed Martin in August, completing production in just three weeks.
Lockheed Martin confirmed on Thursday that General Motors delivered the first missile body components for PAC-3 MSE interceptors in August this year. This collaboration marks the entry of the U.S. aut
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Analysis: China's Crude Oil Imports Show Signs of Rebound, Potentially Eroding Global Oil Price Buffer
Analysts point out that China's crude oil imports have shown early signs of recovery after months of subdued purchases due to the US-Israel war with Iran, which could erode the buffer that previously
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EIA: Diesel prices are driven by crude oil, retail margins, distribution costs, taxes, and crack spreads
The U.S. Energy Information Administration (EIA) stated that tight global supplies of distillate fuel oil and elevated crude oil prices have driven diesel prices higher in recent months.
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Houthis control the Bab el-Mandeb Strait, assure the US they will not attack American vessels, and Donald Trump rejects Saudi request for airstrikes.
Al Jazeera reported that after US officials met with Houthi representatives in Muscat, the capital of Oman, over the weekend, the Houthis have taken control of the Bab al-Mandab Strait and assured the
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Black Sea Ports Stalled, Russian Farmers Plan to Reduce Winter Wheat Planting
Russian farmers plan to reduce winter wheat planting due to disruptions in shipping from the country's key Black Sea ports, leading to a domestic supply surplus and signaling a smaller 2027 harvest fo
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Saudi Aramco reportedly cuts European crude allocations for October, extending supply disruptions due to East-West pipeline attack
Saudi Aramco has informed European customers they will receive no crude allocations next month, prolonging supply disruptions caused by the attack on the East-West pipeline. The halt has already promp
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U.S. Energy Secretary Chris Wright says another round of crude loans from the Strategic Petroleum Reserve is a “very real possibility” amid higher oil prices and steep futures backwardation.
The Department of Energy has already loaned over 130 million barrels from the 172 million-barrel drawdown authorized in March, with approximately 38.5 million barrels still available.
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U.S. Stock Futures Rise as Oil Extends Losses, Treasury Yields Climb
All major U.S. indexes were in the green, following the S&P 500 and Nasdaq's best trading days in six weeks during the prior session.
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Brent crude oil fell 2.0% intraday, nearing $97/barrel, Bitcoin rose 1.2% to $77,426, and gold increased by 0.5%.
Brent crude oil prices fell for the third consecutive day, down 2.0% today to $97.92 per barrel. Spot gold rose 0.5% to $4,362.87 per ounce. Bitcoin increased by 1.2% to $77,426.01.
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WTI crude oil is down 6.81% today, currently trading at $94.970.
WTI crude oil is down 6.81% today, currently trading at $94.970.
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Brent crude oil is down 6.54% today, currently trading at $97.970.
Brent crude oil is down 6.54% today, currently trading at $97.970.
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Brent crude oil is down 2.58% today, currently trading at $102.120.
Brent crude oil is down 2.58% today, currently trading at $102.120.
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Gasoline prices in Yemen's Houthi-controlled areas have increased by 10% for the first time in four years, sparking inflation concerns.
Houthi-controlled areas in Yemen announced on Monday a gasoline price hike of approximately 10%, from 4,750 Yemeni rials (approximately $8.90) to 5,250 Yemeni rials (approximately $9.80) per liter. Th
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Iron Ore Set for Weekly Gain Despite Weak China Steel Demand
Iron ore is headed for a weekly gain after recovering from a sharp decline earlier in the week. This comes even as weak steel demand and shrinking mill margins continue to weigh on the outlook for the
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Baidu-backed DeepWay Aims to License E-Truck Tech in Europe
The Chinese electric truck and assisted driving startup hopes to gain an edge by transferring technology to local partners, with a view to eventually manufacturing locally. The company is also targeti
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Copper Heads for Weekly Gain as Chinese Demand Rebounds, Offsetting Fed's Hawkish Stance
Benchmark copper futures were little changed near $14,460 a ton on the London Metal Exchange on Friday, on pace for their 11th weekly advance in the past 12 weeks. The metal had earlier this month rea
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Oil prices fell on Friday, with Brent crude down 0.94% to $103.83 per barrel and WTI crude down 0.88% to $101.01 per barrel.
Oil prices fell on Friday as the market weighed hopes of increased crude supply from Saudi Arabia, offsetting concerns from a new round of attacks between Saudi Arabia and Yemen's Houthi rebels. Repor
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JPMorgan Chase analysts stated that the Middle East conflict makes oil price movements difficult to predict, identifying the September 24 US-China diplomatic meeting as a potential turning point, and estimating the current oil price at $106 with a September fair value of $90.
JPMorgan Chase's report indicates that previously set economic "red lines," such as the $100 oil price, have been breached, and the market is now pricing in an additional 4 million barrels per day (bp
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India on Track for Driest Monsoon Since 2009 Due to El Niño, Threatening Crop Yields and Food Prices
A strengthening El Niño is curbing rainfall, putting India on course for its driest monsoon in 17 years. This development threatens crop yields and raises risks for food prices.
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South Korea's Finance Minister vows diplomatic efforts and import diversification to address energy price volatility
South Korean Finance Minister Koo Yun-cheol stated on Friday that the government will closely monitor energy price volatility and maintain an emergency response system. He made the remarks during a me
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US approves $414 million financing for Canada's Global Atomic uranium project in Niger
The U.S. government has approved up to $414 million in financing for Canadian miner Global Atomic's Dasa uranium project in Niger, the company announced on Wednesday. The project is described by the c
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Oil drops for third straight day as supply concerns ease and traders eye US-Iran diplomacy
Oil dropped for a third day as supply concerns eased and traders looked to the next round of diplomacy that’ll shape the US-Iran war.
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US Retailers Restrict Motor Oil Supply, Prices Soar Fourfold
A U.S. retailer has begun limiting sales of automotive engine oil due to supply shortages, leading to a fourfold price increase.
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Houthis attack Saudi capital and Aramco facilities, US warns of "rapid escalation" of conflict, Saudi Arabia urgently seeks aid from multiple countries.
On September 19, Yemen's Houthi rebels launched a new round of missile and drone attacks targeting "sensitive sites" in the Saudi capital Riyadh and Saudi Aramco facilities in Yanbu. U.S. embassies in
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NVIDIA VP: AI Era Reshapes Hardware Cost Reduction Logic, Chip Evaluation Shifts to "Total Tokens Throughput Per Megawatt"
NVIDIA Vice President Ian Buck stated that in the era of AI factories, the most effective way to reduce token costs is to deliver significantly improved computing performance (10 to 30 times) with eac
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NVIDIA VP: Agentic AI to Boost Computing Power Demand 100-fold, Altering Traditional Scheduling Models
NVIDIA VP Ian Buck stated that the shift from Chat mode to Agentic AI removes the human-in-the-loop buffer, allowing hashrate to operate at seamless, high-frequency full load. In AgentX benchmarks, th
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Hong Kong to expand renminbi-denominated bond, gold and commodity markets, says Financial Secretary Paul Chan
Financial Secretary Paul Chan stated on Sunday that Hong Kong would expand its renminbi-denominated bond market and develop renminbi-denominated gold and commodity markets. This initiative aims to str
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The Strait of Hormuz cargo trade has vanished, forcing businesses to find alternative routes
The Strait of Hormuz, once a transit hub for goods ranging from helium to corn, has seen its cargo trade disappear, prompting businesses to seek alternative shipping routes.
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Global oil shipping costs have surged to historic highs, with supertankers earning over $1.2 million per day. A South Korean shipping magnate is making a massive bet, investing $7 billion, and is set to profit handsomely.
The global supertanker market is experiencing unprecedented supply-demand tightness, with soaring freight rates rendering some long-haul crude oil trades economically unviable and profoundly altering
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Venezuela and TotalEnergies Sign MOU, Paving Way for French Oil Giant's Return
Venezuela and TotalEnergies SE signed a memorandum of understanding on Saturday, setting up the French company for a return to operations in the South American country.
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JPMorgan Chase analysts warn: The biggest impact of El Niño on global agriculture is expected to materialize in Q1 2027.
Tracey Allen, JPMorgan Chase's head of agricultural commodities, stated in a research report published on September 18 that the intensifying El Niño phenomenon, coupled with global diesel and fertiliz
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U.S. retail diesel prices surged to a record high of $6.45 per gallon, as Congress considers legislation to ban exports.
Global diesel supplies remain tight due to the Russia-Ukraine conflict and the situation in the Middle East. U.S. Representative Tim Burchett introduced a bill this week to ban diesel exports, and Sen
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The Saudi-led coalition announced it intercepted a ballistic missile fired by Houthi rebels towards Riyadh, while the Houthis claimed responsibility for attacking sensitive sites in Riyadh and Aramco facilities in Yanbu.
The Saudi-led coalition announced that Iranian-backed Houthi rebels launched a ballistic missile towards the Saudi capital, Riyadh, at dawn on Saturday, but it was successfully intercepted and destroy
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US Commander Says Strait of Hormuz Oil Shipments Hit Six-Month High, Citing Effective US Navy Escorts and Mine Clearance
Oil and liquefied natural gas shipments through the Strait of Hormuz reached a six-month high in the past two weeks, a U.S. regional commander said, indicating that U.S. Navy protection and mine clear
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Russia attacked two merchant ships in the Black Sea, and Poland raised its air defense alert level.
Ukraine's Air Force stated that Russia used dozens of drones and two anti-ship missiles to attack Ukraine overnight. Russia's Ministry of Defense, meanwhile, claimed that its forces used "Geran-4 Seek
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Brent crude oil surged to $132 this week after the Saudi East-West Pipeline was attacked and shut down, forcing Saudi Arabia to rely on high-cost "relay oil transportation" via the Strait of Hormuz.
A drone launched from Iraq by Iranian-backed militants recently struck Saudi Arabia's East-West oil pipeline, forcing its shutdown, the Wall Street Journal reported. The pipeline, previously a critica
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MarketWatch Analysis: Oil Prices and Energy Stocks Would Be Hit by a Sudden End to Iran War, But Company Insiders Are Still Buying
MarketWatch analysis suggests that despite a sudden end to the Iran war potentially leading to a drop in oil prices and energy stocks, company insiders are still buying these related stocks, indicatin
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World faces supertanker shortage, threatening long-haul oil flows as costs soar
The rising cost of global oil transportation is rendering some long-distance crude trades uneconomical, potentially disrupting flows at a time when fuel markets are exceptionally tight.
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Europe's winter power market is flashing its strongest warning since the energy crisis, with German wholesale electricity prices for January soaring over 60% year-on-year.
Bloomberg Markets reports that as Europe enters winter, the electricity market is flashing its strongest warning since the energy crisis. German wholesale electricity prices for January have traded ab
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Barclays: Humanoid robot computing power demand is mainly concentrated in edge AI, with limited but significant incremental growth for data centers.
Barclays Research states that the inference stage for humanoid robots needs to be completed on edge processors within the robots themselves. Data center computing power is primarily used for simulatio
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Riyadh, Saudi Arabia, issues its first air raid alert since Houthi attacks escalated in July.
Saudi civil defense authorities issued air raid alerts in the capital Riyadh and several other regions on Friday evening and Saturday morning local time, following reports of explosions in the capital
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Houthis accuse Saudi Arabia of 26 attacks in 24 hours, EU raises alert level for Red Sea naval mission.
The conflict in Yemen continues to escalate, with Houthi rebels stating that Saudi Arabia launched 26 attacks on their controlled areas in the past 24 hours, totaling 300 over the past week. Meanwhile
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Venezuela's government is sidelining a senior American oil executive from Chevron.
The veteran oil executive, previously responsible for Chevron's strategy in Venezuela amidst years of political turmoil, is currently being sidelined by the Venezuelan government.
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Japan's Sojitz plans chip material transport hub for Tata fab in India
Japanese trading house Sojitz plans to establish a specialized logistics center in India for semiconductor materials. The hub will be located near a chip fabrication plant currently under construction
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Macron to Convene G7 Meeting to Discuss Strategic Oil Reserve Release After European Diesel Retail Prices Exceed $300
French President Emmanuel Macron stated on Friday that he would convene a G7 meeting within weeks to discuss the possibility of releasing strategic petroleum product reserves. This move signals Europe
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A surge of copper is flooding into the U.S., causing a backlog at the Port of New Orleans.
A surge of copper is flooding into the U.S., causing a backlog at the Port of New Orleans.
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