Rare Earths Norway has announced the discovery of Europe’s largest proven deposit of rare earth elements, a significant breakthrough that could have far-reaching implications for the region. Unlike many deposits controlled by China, this discovery offers a potential shift in the rare earths market dynamics. The demand for these elements, crucial for the clean energy… Continue reading Norway discovers Europe’s largest deposit of rare earth metals

Honda Motor Company is accelerating its North American EV strategy in 2024 amid a shifting automotive landscape where some legacy carmakers are emphasizing hybrids as a transition to electric vehicles (EVs). The company has announced an $11 billion investment in a Canadian EV hub and is transforming its Ohio operations for EV production. This commitment… Continue reading With EVs, Honda may be North America’s most committed automaker, for the moment

The price of oil futures rose slightly on Monday due to analyst predictions of a summer supply deficit. Analysts at Goldman Sachs expect strong summer demand for transportation fuel and cooling to push the market into a deficit of 1.3 million barrels per day by the third quarter, causing Brent oil prices to rise to… Continue reading Oil prices edge higher after weekly loss as Goldman sees supply deficit on summer fuel demand

Crude oil futures experienced a two-day rally as the European Central Bank cut interest rates for the first time in five years, prompting speculation that the Federal Reserve might also lower rates in September. On Wednesday, oil prices rebounded, closing over 1% higher, breaking a downward trend initiated by OPEC+’s decision to boost supply later… Continue reading Oil prices gain for second day as ECB cuts rates, traders hope for Fed to ease in September

Oil prices experienced significant declines despite the announcement of extended supply cuts by the OPEC+ alliance, with traders attributing the downturn to certain trading strategies and uncertainties in the demand outlook. Abdulaziz Almoqbel, an energy consultant, highlighted a sentiment among traders to reposition their short and long positions, contributing to a technically oversold market pushing… Continue reading Oil market ‘oversold’? Analysts and traders pin crude’s price plunge on demand, trading strategies

Crude oil futures are nearing four-month lows as a result of a recent decision by OPEC+ to boost production, leading to a significant sell-off this week. Both U.S. crude and global benchmark Brent have experienced nearly a 5% decline following the agreement by eight OPEC+ members on Sunday to gradually increase production by 2.2 million… Continue reading Oil prices hover near four-month lows on OPEC+ supply increase later this year

Oil prices continued their downward trend on Tuesday, falling nearly 2% and erasing most of their gains for the year. This decline follows five consecutive sessions of losses, triggered by the recent announcement from OPEC+, a group of major oil-producing countries led by Saudi Arabia and Russia. OPEC+ surprised the market by revealing a plan… Continue reading U.S. crude oil extends losses, falls below $73 per barrel on OPEC+ increasing supply

North Dakota Governor Doug Burgum, considered a potential running mate for former President Donald Trump, has refuted claims that Trump promised oil executives reduced regulations in exchange for campaign funds to support his return to the White House. Reports from the Washington Post suggested that Trump, during a meeting at his Mar-a-Lago club earlier this… Continue reading ‘No quid pro quo’ between Trump and oil execs at Mar-a-Lago, Gov. Burgum says

U.S. crude oil experienced a significant drop of over 3% following an announcement by OPEC+ regarding the gradual elimination of voluntary production cuts totaling 2.2 million barrels per day. Led by Saudi Arabia and Russia, a coalition of eight OPEC+ members revealed their intention to phase out these cuts over a 12-month period, commencing in… Continue reading U.S. crude oil falls more than 3% as OPEC+ plans to phase out voluntary production cuts

NG Energy International Corp. has filed its financial results for the three months ended March 31, 2024. The Company’s consolidated financial statements and management’s discussion and analysis for the three months ended March 31, 2024 are available on the Company’s profile on SEDAR+ (www.sedarplus.ca). Brian Paes-Braga, Co-Chairman and Chief Executive Officer, noted, “Q1 was another… Continue reading NG ENERGY ANNOUNCES FILING OF Q1 2024 FINANCIAL RESULTS

U.S. crude oil experienced minimal change on Thursday but is poised for its most significant monthly decline of the year and a second consecutive monthly loss. With a 3.2% drop in May, marking its worst performance since December, U.S. crude oil prices reflect a struggling market. Similarly, Brent crude has seen a nearly 5% decline… Continue reading U.S. crude oil falls 3.2% in May, on pace for worst month of the year

Saudi Arabia’s state oil company, Aramco, is reportedly planning to launch a fresh sale of its stock, aiming to raise between $10 billion and $20 billion, as per sources familiar with the matter cited by The Wall Street Journal. The majority of Aramco is owned by the Saudi state and its sovereign wealth fund, with… Continue reading Saudi Aramco to reportedly sell $10 billion to $20 billion worth of shares in new offering