Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions By Charles Kennedy of OilPrice.com Kuwait has declared force majeure on shipments of crude oil and refined products after disruptions at the Strait of Hormuz prevented some vessels from entering the Persian Gulf. The move comes as tensions in the Strait escalated again following the U.S. seizure of an Iranian-flagged ca...
Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions By Charles Kennedy of OilPrice.com Kuwait has declared force majeure on shipments of crude oil and refined products after disruptions at the Strait of Hormuz prevented some vessels from entering the Persian Gulf. The move comes as tensions in the Strait escalated again following the U.S. seizure of an Iranian-flagged cargo vessel in the waterway. According to Reuters , Kuwait Petroleum Corporation has notified customers that it is invoking contractual clauses allowing it to withhold certain scheduled deliveries after the blockade hindered access to the Gulf. The measure is not expected to result in a complete halt to supply. The latest escalation follows a volatile weekend in which the Strait briefly reopened before closing again after Iran linked the reopening of the shipping lane to the lifting of the U.S. naval blockade targeting its oil exports. Iran’s foreign ministry said it has no plans for a new round of talks following the U.S. seizure of the vessel. U.S. President Donald Trump said a delegation led by Vice President JD Vance is heading to Islamabad for talks. Pakistan has tightened security in the capital ahead of the potential negotiations. Iran has warned that it cannot guarantee safe passage through the Strait of Hormuz if its oil exports continue to be restricted, saying that security for shipping in the waterway cannot be separated from pressure on its own crude flows. Shipping activity in and around the Strait has been disrupted again, with vessels altering routes and operators reassessing transit risks through one of the world’s most important oil shipping lanes. After plunging late last week, oil prices rebounded in early trading as markets reacted to the renewed disruption and the risk of further constraints on flows through the Strait of Hormuz. The renewed pressure also comes as Iran-aligned Houthis have threatened to target the Bab el-Mandeb Strait, raising concerns ...
May NY world sugar #11 (SBK26 ) on Monday closed up +0.16 (+1.20%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +5.30 (+1.29%). Sugar prices moved higher on Monday amid signs of a smaller global sugar surplus. Sugar trader Czarnikow cut its 2026/27 global sugar surplus estimate...
May NY world sugar #11 (SBK26 ) on Monday closed up +0.16 (+1.20%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +5.30 (+1.29%). Sugar prices moved higher on Monday amid signs of a smaller global sugar surplus. Sugar trader Czarnikow cut its 2026/27 global sugar surplus estimate...
monsitj/iStock via Getty Images Gold and silver futures fell Monday as the dollar and oil prices rose following Iran's threat of retaliation in response to the seizure of an Iranian cargo vessel by U.S. forces, dimming hopes of a breakthrough in efforts to end the Middle East war. Iran wavered on whether to send diplomats to Pakistan for a second round of peace talks after the U.S. seized the sh...
monsitj/iStock via Getty Images Gold and silver futures fell Monday as the dollar and oil prices rose following Iran's threat of retaliation in response to the seizure of an Iranian cargo vessel by U.S. forces, dimming hopes of a breakthrough in efforts to end the Middle East war. Iran wavered on whether to send diplomats to Pakistan for a second round of peace talks after the U.S. seized the ship and maintained its blockade of the Strait of Hormuz. The U.S. dollar rose to its highest level in a week before paring gains to trade up 0.1%, and benchmark 10-year U.S. Treasury yields gained, increasing the opportunity cost of holding non-yielding bullion. "The latest weakness has been driven by renewed dollar strength and fresh concerns about energy-led inflation," Saxo Bank analysts said in a note. "Gold and silver remain highly sensitive to developments in the Middle East given the knock-on impact on the dollar, bond yields, and U.S. rate expectations." Meanwhile, gold demand during one of India's key buying festivals remained subdued on Sunday as record prices curbed jewelry purchases, offsetting a modest uptick in investment demand. Front-month Comex gold ( XAUUSD:CUR ) for April delivery closed 1% lower at $4,806.60/oz, and front-month Comex April silver ( XAGUSD:CUR ) settled down 2.2% to $79.951/oz. ETFs: ( GLD ), ( GDX ), ( GDXJ ), ( IAU ), ( NUGT ), ( PHYS ), ( GLDM ), ( AAAU ), ( SGOL ), ( DUST ), ( RING ), ( BAR ), ( OUNZ ), ( SLV ), ( PSLV ), ( SIVR ), ( SIL ), ( SILJ ) More on gold and silver SPX Options Positioning Reverses As FOMO Sets In India Gold Market Update: Mixed Reading Macro Insights: The 'Spoils Of The Iran War' Hidden In The Market
USA Rare Earth (NASDAQ:USAR) , a U.S. rare-earth and critical minerals supplier, closed Monday at $22.58, up 13.18%. The stock is rallying after announcing a $2.8 billion acquisition of Serra Verde that expands its mine-to-magnet footprint. Investors are watching for execution on the company’s enlarged rare-earth portfolio and its targeted 2030 EBITDA of $1.8 billion. Trading volume reached 42.7 m...
USA Rare Earth (NASDAQ:USAR) , a U.S. rare-earth and critical minerals supplier, closed Monday at $22.58, up 13.18%. The stock is rallying after announcing a $2.8 billion acquisition of Serra Verde that expands its mine-to-magnet footprint. Investors are watching for execution on the company’s enlarged rare-earth portfolio and its targeted 2030 EBITDA of $1.8 billion. Trading volume reached 42.7 million shares, about 118% above its three-month average of 19.6 million shares. USA Rare Earth IPO'd in 2025 and has grown 22% since going public. The S&P 500 slipped 0.22% to finish Monday at 7,110, while the Nasdaq Composite declined 0.26% to close at 24,404. Among other industrial metals & mining names, industry peers MP Materials closed at $66.23, up 8.59%, and Lithium Americas finished at $4.98, up 2.89%, as rare-earth supply-chain themes drew interest. USA Rare Earth acquired Serra Verde today for $300 million in cash and roughly $2.5 billion in stock, and the market loved the news. USAR management stated that the deal “accelerates USAR’s fully-integrated mine-to-magnet value chain, creating a global leader with best-in-class capabilities across mining, processing, separation, metallization, and magnet making.” Continue reading
Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company’s market value soar by more than US$3.6 trillion during an iPhone-fuelled era of prosperity. Cook, 65, will turn the CEO duties over to Apple’s head of hardware engineering, John Ternus, on September 1 while remaining involved with the Cupertino, Californi...
Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company’s market value soar by more than US$3.6 trillion during an iPhone-fuelled era of prosperity. Cook, 65, will turn the CEO duties over to Apple’s head of hardware engineering, John Ternus, on September 1 while remaining involved with the Cupertino, California, company as executive chairman. That is similar to the transitions made by Amazon’s Jeff Bezos and...
Magna Mining press release ( MGMNF ): Q4 Non-GAAP EPS of -C$0.03. Revenue of C$24.81M. More on Magna Mining Inc. Historical earnings data for Magna Mining Inc. Financial information for Magna Mining Inc.
Magna Mining press release ( MGMNF ): Q4 Non-GAAP EPS of -C$0.03. Revenue of C$24.81M. More on Magna Mining Inc. Historical earnings data for Magna Mining Inc. Financial information for Magna Mining Inc.