U.S. firm KoBold Metals, whose backers include billionaires Bill Gates and Jeff Bezos, is seeking to develop a huge hard rock lithium deposit in the Democratic Republic of Congo as the African country, which also has large cobalt, gold, and cobalt resources, is seeking a minerals partnership with the United States. KoBold Metals has set sights on taking over a mining license for an area, the Manono project, which promises large lithium deposits. The U.S. firm “would welcome the opportunity to develop the asset,” Sandy Alexander, the…

U.S. firm KoBold Metals, whose backers include billionaires Bill Gates and Jeff Bezos, is seeking to develop a huge hard rock lithium deposit in the Democratic Republic of Congo as the African country, which also has large cobalt, gold, and cobalt resources, is seeking a minerals partnership with the United States. KoBold Metals has set sights on taking over a mining license for an area, the Manono project, which promises large lithium deposits. The U.S. firm “would welcome the opportunity to develop the asset,” Sandy Alexander, the…

Elliott Management, the activist investor pushing for changes at BP, has discussed with other large shareholders in the supermajor potential additional moves to boost the company’s performance including more cost reductions and leadership reshuffles, two shareholders have told Reuters. BP’s stock has been underperforming its UK-based peer, Shell, and other major international oil firms in recent years. The BP board has been under increased pressure to seek fundamental changes to the business to reward shareholders more. The pressure…

India’s dependence on crude oil imports is on track to set a record high in the fiscal year ending March 31, 2025, as Indian fuel demand continues to grow while domestic crude production remains flat. India imported 88.2% of the crude it consumed in the April 2024-February 2025 period, according to oil ministry data reported by The Indian Express. The import dependence has increased from 87.7% in the same period of the 2023/2024 fiscal year, the data showed. The Indian import dependence in the full 2023/2024 fiscal year averaged 87.8%. As…

India’s dependence on crude oil imports is on track to set a record high in the fiscal year ending March 31, 2025, as Indian fuel demand continues to grow while domestic crude production remains flat. India imported 88.2% of the crude it consumed in the April 2024-February 2025 period, according to oil ministry data reported by The Indian Express. The import dependence has increased from 87.7% in the same period of the 2023/2024 fiscal year, the data showed. The Indian import dependence in the full 2023/2024 fiscal year averaged 87.8%. As…

India’s dependence on crude oil imports is on track to set a record high in the fiscal year ending March 31, 2025, as Indian fuel demand continues to grow while domestic crude production remains flat. India imported 88.2% of the crude it consumed in the April 2024-February 2025 period, according to oil ministry data reported by The Indian Express. The import dependence has increased from 87.7% in the same period of the 2023/2024 fiscal year, the data showed. The Indian import dependence in the full 2023/2024 fiscal year averaged 87.8%. As…

Crude oil traders faced a volatile week as prices reacted to a combination of geopolitical tensions, supply-side shifts, and macroeconomic signals. While Middle East conflicts and fresh sanctions on Iran provided bullish catalysts, downside risks emerged from Russian supply prospects, U.S. tariffs, and uncertain Chinese demand. With the market caught between these forces, traders need to assess whether the next move favors an upside breakout or a renewed selloff. Middle East Conflicts and Sanctions Create Bullish Setups Geopolitical tensions in…

Politics, Geopolitics & Conflict In Turkey, Erdogan has returned to authoritarian moves in order to secure his future power, this time by arresting a key rival, Istanbul Mayor Ekrem Imamo?lu, on charges of alleged corruption and ties to terrorism, along with the detention of other prominent figures, including two district mayors. The opposition CHP party is demanding justice over this politically motivated move designed to keep the Istanbul mayor from running in elections.  The balance of force in the Russia-Ukraine war remains unclear…

Israel has resumed ground operations in Gaza, abandoning the ceasefire deal and killing some 100 people in the first round, with the next phase of war less likely to contribute as much to oil price volatility, which is now centered more on tariffs and real fundamentals. Hamas was set to arrive in Cairo on Thursday to attempt to revive ceasefire talks, but we are not optimistic. Netanyahu’s coalition would likely not survive without the Gaza war, which will continue unabated until that is secured. It will have nothing to do with DC directly.…

Germany has seized an oil tanker of the Russian shadow fleet that was found adrift in the Baltic Sea in January, German magazine Spiegel reported on Friday, quoting security sources. The tanker, Eventin, was traveling under the flag of Panama when German authorities said in January that the vessel, belonging to the Russian shadow fleet, was stuck in German waters in the Baltic Sea. The tanker had lost power and steering and was found adrift in the sea, north of the German island of Rügen. Germany secured the vessel and blamed Russia for the…

The European Commission is considering a plan under which Ukraine would boost natural gas imports from Greece and Turkey, store the gas, and send it in the winter via Slovakia to other EU countries, POLITICO reports, as the EU is seeking to resolve a Slovakia-Ukraine dispute over gas transit and lost fees. Slovakia’s Prime Minister Robert Fico has defied the EU and met with Putin in Moscow at the end of December to discuss Russian gas supply to Slovakia ahead of the halt to deliveries via Ukraine. On December 31, the supply deal…

Rising supply and potentially weaker-than-expected demand are set to keep oil prices in check this year, with the price likely to average in the low $70s, analysts and investment banks say. With the U.S. new administration, experts expect the average price to be lower compared to last year amid concerns about demand as economic uncertainty spiked with the start of the trade and tariff wars. On the supply side, OPEC+ early this month confirmed it would begin adding barrels to the market as early as next month. Of course, OPEC+ left the door open…

Oil prices rallied on Wednesday after U.S. government data showed a draw in fuel inventories. Brent crude for May delivery gained 1.6% to trade at $71.98 per barrel at 12.30 pm ET while the comparable WTI contract climbed 1.8% to change hands at  for U.S. government data showed that crude stocks rose by 1.7 million barrels last week to 437 million barrels, significantly higher than the Wall Street consensus of a 512,000-barrel build. However, distillate inventories, including diesel and heating oil, fell by 2.8 million barrels to 114.8 million…

The United States last year added the most pipeline takeaway capacity from natural gas-producing regions since 2021. This year, more gas pipelines could be announced or revived, with the support of the Trump Administration, in what could be a shot in the arm for U.S. natural gas producers and a step toward reducing energy costs for consumers, especially in the Northeast. Five completed pipelines to deliver natural gas from the producing regions to demand centers in the mid-Atlantic and along the U.S. Gulf Coast, another five projects to boost feedgas…

Donald Trump’s second presidency has unquestionably upended the energy world—and the energy investment world. With the IRA in deep freeze and rollbacks of various climate change-related regulation, some of the biggest players in financial markets are feeling the heat. Hedge funds with a focus on energy have found themselves in a juggling act on a tightrope. Bloomberg wrote this week that a lot of money managers were scrambling to strike the right balance between investors who were still insistent that emission-cutting commitments were…

Via Metal Miner The Aluminum Monthly Metals Index (MMI) remained sideways with an upward bias. Overall, the index rose 1.16% from February to March, supported by modest increases in global aluminum prices. Midwest Premium Futures Stall after Aluminum Tariffs The aluminum market has started to settle following a sharp uptrend in U.S. premiums that began late last year. Since the start of Q4 2024, the aluminum Midwest premium and its three-month futures contract rose by 107% and 90%, respectively. The premiums’ bull trend came as markets began…

Chinese EVs like Great Wall, BYD, Chery, and SAIC are flooding the streets in places other than the U.S., according to a new report from Bloomberg. While the U.S., Canada, and the EU impose tariffs to protect domestic automakers, emerging markets are embracing Chinese vehicles, creating fresh competition for global carmakers. Places like "Bangkok to Johannesburg to Sao Paulo" are being dominated by the new low cost, sleek EVs that China has been churning out en masse over the last half decade.  Bloomberg writes that China now leads global…

Europe’s oil and gas giants are increasingly scaling back their climate goals as they struggle to deliver on their ambitious clean energy pledges. Back in 2022, Norway's state-controlled energy giant Equinor ASA (NYSE:EQNR) laid out its roadmap to achieving net zero emissions. However, In February Equinor scrapped a pledge to devote more than 50% of its gross capital expenditure to renewables and low-carbon solutions by 2030. Equinor has also abandoned plans to invest in Vietnam's offshore wind sector, dealing a significant blow to the country's…

Europe’s oil and gas giants are increasingly scaling back their climate goals as they struggle to deliver on their ambitious clean energy pledges. Back in 2022, Norway's state-controlled energy giant Equinor ASA (NYSE:EQNR) laid out its roadmap to achieving net zero emissions. However, In February Equinor scrapped a pledge to devote more than 50% of its gross capital expenditure to renewables and low-carbon solutions by 2030. Equinor has also abandoned plans to invest in Vietnam's offshore wind sector, dealing a significant blow to the country's…

European Union leaders are pledging to continue to support Ukraine militarily despite Russia's push to stop Western arms deliveries to Kyiv in the ongoing cease-fire talks. The bloc's leaders are gathering in Brussels on March 20-21 and are expected to adopt summit conclusions stating that "the European Union maintains its 'peace through strength' approach, which requires Ukraine to be in the strongest possible position, with its own robust military and defense capabilities as an essential component." The text, seen by RFE/RL, also notes that the…