News
Important Only
RPT-ROI-Two things OPEC+ can't control. Trump and China imports: Russell
Reuters Open Interest (ROI) is your essential source for global financial commentary. By Clyde Russell SYDNEY, Feb 2 (Reuters) - There are two factors that are largely beyond the control of OPEC+ and they are likely to determine the price of crude oil in the coming weeks.The first is whether U.S....Reuters
Mon, Feb 2
Eldorado Gold to buy Foran Mining in $2.8 billion deal to deepen copper exposure
Feb 2 (Reuters) - Eldorado Gold ELD.TO will acquire Canada's Foran Mining FOM.TO in a deal valuing the copper-focused developer at about C$3.8 billion ($2.79 billion), adding a second near-term growth project and increasing its exposure to copper.The deal, announced by the companies on Monday, e...Reuters
Mon, Feb 2
Venture Global taps Worley to expand LNG export terminal in Louisiana
Feb 2 (Reuters) - U.S.-based LNG company Venture Global VG.N has entered into an engineering, procurement and construction contract with Worley Field Services to build the second phase of its CP2 export facility in Louisiana, according to a regulatory filing on Monday.Commercial activity has picked ...Reuters
Mon, Feb 2
Union neither accepts nor rejects last Marathon offer on US refinery pact, sources say
HOUSTON, Feb 2 (Reuters) - The United Steelworkers union (USW) has neither accepted nor rejected the last offer from Marathon Petroleum MPC.N for a new 4-year labor agreement for U.S. refineries and chemical plants, people familiar with the talks said on Monday.The offer, made in negotiations on Sun...Reuters
Mon, Feb 2
Gold Price Forecast: XAU/USD bounces towards $4,800, remains bearish on the day
Gold (XAU/USD) is trimming some losses on Monday after the sharp bearish correction witnessed on Friday and Monday’s Asian session. The precious metal has returned to levels near $4,800, trading at $4,766 at the time of writing, but still about 15% below Thursday's highs above $5,600.
Fxstreet
Mon, Feb 2
Gold stabilises after sharp correction as dip buying emerges
Gold (XAU/USD) stabilises on Monday with dip-buying interest emerging after a sharp correction from last week’s surge to fresh all-time highs near $5,600. At the time of writing, XAU/USD trades around $4,770, recovering after an intraday slide of nearly 10% to over three-week lows near $4,402.Fxstreet
Mon, Feb 2
Trump launches $12 billion minerals stockpile to counter China, Bloomberg News reports
Feb 2 (Reuters) - U.S. President Donald Trump is set to launch a strategic critical-minerals stockpile with $12 billion in seed money, Bloomberg News reported on Monday, citing people familiar with the matter.Reuters
Mon, Feb 2
PRECIOUS-Gold, silver fall further as CME margin hike stokes selling
Gold down over 3% after Friday's more than 9% fallSilver down over 3% after Friday's 27% plungeGold down about $900 from record highs on ThursdayBy Noel John Feb 2 (Reuters) - Gold and silver prices dropped on Monday as increased CME CME.O margin requirements added to the selling pressure...Reuters
Mon, Feb 2
Tyson Foods beats quarterly profit estimates on chicken demand
CHICAGO, Feb 2 (Reuters) - U.S. meatpacker Tyson Foods TSN.N reported bigger-than-expected quarterly earnings on Monday, as strong demand for its chicken products overshadowed hefty losses in its beef business.Beef prices have climbed as ranchers slashed the size of the U.S. cattle herd following a ...Reuters
Mon, Feb 2
US shale producers Devon and Coterra to merge in a $58 billion deal
Feb 2 (Reuters) - U.S. shale producers Devon Energy DVN.N and Coterra Energy CTRA.N are set to merge in an $58 billion all-stock deal to create one of the largest independent shale producers in the country, the companies said on Monday.Reuters
Mon, Feb 2
US judge to consider last project challenge to Trump offshore wind pause
Feb 2 (Reuters) - A U.S. judge on Monday will consider a request from Danish energy company Orsted ORSTED.CO to block the Trump administration's halt on its Sunrise Wind project off the coast of New York.The preliminary injunction request is the fifth brought by an offshore wind developer since ...Reuters
Mon, Feb 2
UK firm signs deal with Mitsui to make iron ore pellets from Pilbara material
By Eric Onstad LONDON, Feb 2 (Reuters) - British firm Binding Solutions has signed an agreement with a unit of Japanese trading house Mitsui & Co 8031.T to turn iron ore in Western Australia's huge Pilbara region into low-carbon pellets, Binding Solutions said on Monday.The privately held...Reuters
Mon, Feb 2
EU Commission: data do not suggest EU's over-reliance on US LNG imports
BRUSSELS, Feb 2 (Reuters) - Current figures do not suggest the European Union is over reliant on imports of Liquefied Natural Gas (LNG) from the United States, the EU Commission's spokesperson Anna-Kaisa Itkonen said on Monday.The reliance on LNG imports from a specific country cannot be compare...Reuters
Mon, Feb 2
FACTBOX-J.P. Morgan expects gold prices to reach $6,300/oz by end of 2026
Feb 2 (Reuters) - J.P. Morgan expects gold prices to reach $6,300 per ounce by the end of 2026, as demand from central banks and investors continues, it said in a note on Monday. The brokerage now forecasts central-bank gold purchases at 800 tons in 2026, citing an ongoing, unexhausted trend of...Reuters
Mon, Feb 2
Venture Global taps Worley for Louisiana LNG project expansion
Feb 2 (Reuters) - U.S.-based LNG company Venture Global VG.N said it has entered into an engineering, procurement and construction contract with Worley Field Services for the construction of Phase 2 of its CP2 project in Louisiana, according to a regulatory filing on Monday.Reuters
Mon, Feb 2
Investors flock to gold, gold miner ETFs in January in bid for safety
By Gaurav DograFeb 2 (Reuters) - Investors flocked to exchange-traded funds of gold, other precious metals and gold miners in January, seeking safety amid geopolitical uncertainty, expectations of further dollar weakness, and growing bets on U.S. interest rate cuts.According to LSEG Lipper data, ETF...Reuters
Mon, Feb 2
China's teapots buy Iranian oil to replace Venezuelan supply, sources say
Teapots draw on Iranian oil stocks in tanks, shipsIranian oil cheapest among Venezuelan replacements, sources sayVenezuelan crude in floating storage in Asia nearly halves in January, Kpler data showsBy Siyi Liu SINGAPORE, Feb 2 (Reuters) - Chinese independent refiners are buying discounted Irani...Reuters
Mon, Feb 2
Gold: $6,000 target remains intact – Deutsche Bank
Deutsche Bank Research Analyst Michael Hsueh reiterates its bullish outlook on Gold, maintaining a target price of $6,000 per ounce. The report emphasizes that recent price corrections do not indicate a fundamental shift in investor sentiment.Fxstreet
Mon, Feb 2
RPT-ROI-How soon before Trump dubs Kevin Warsh 'clueless'?: Mike Dolan
By Mike Dolan LONDON, Feb 2 (Reuters) - In many ways President Donald Trump's decision to pick former Federal Reserve governor Kevin Warsh to head the central bank is a relatively orthodox choice. To many, he is not the ardent interest rate slasher the U.S. president seemed to want. But maybe...Reuters
Mon, Feb 2
