June 3, 2024

Never a good sign to show weakness when you claim to be controlling a key commodity market and expect to escape some sort of punishment. But that’s what the OPEC+ group did with its extension of its production caps until well into 2025—down went prices on Monday, thereby making all OPEC members poorer for at […]

There won’t be any confirmation for a year or more, but the South Korean government has suddenly become very, very optimistic that it has identified a potential major oil and gas resource in the East Sea, off the city of Pohang (home to the huge steel group, POSCO). In a briefing widely reported Monday afternoon,

The old “boom, no it’s a bust” mentality among iron ore traders emerged Monday when Singapore prices slid 4% or more on nerves about Chinese demand. It was only a week ago that the same traders were confident China had done something positive with its latest property sector support measures revealed on May 17. Traders

Widespread cheating in the huge Japanese car industry has been exposed by a government investigation, with Toyota, Mazda, Hino, Daihatsu, and Honda caught up and named for breaches of various rules and safety tests. For Toyota, it was especially humbling, being the world’s biggest car maker. On Tuesday of last week, the company’s CEO Koji

Cyclical stocks and those leveraged to manufacturing activity came under pressure during the trading session following the release of soft manufacturing numbers which raised concerns about the strength of the underlying US economy. The Dow was the worst performing index closing down 0.30 per cent. The S&P 500 finished 0.11 per cent higher, while the

In more unwelcome news for the lithium wannabees and actual miners and refiners, BYD, the world’s biggest maker of electrified vehicles, is continuing its push away from concentrating on lithium-gobbling battery-only EVs. BYD is China’s biggest maker of electrified vehicles and is released figures confirming that Mat saw it continue to push deeper into the

The Australian share market began June with strong gains, following a positive trend in US stocks driven by subdued inflation data, prompting confidence in potential future rate cuts by the Federal Reserve. Key sectors like utilities, finance, and real estate performed well, while fluctuations in commodity prices impacted mining stocks.  At the closing bell, the

Australia’s lowest-paid workers will receive an inflation-matching pay rise of 3.75% this year, down from 5.75% last year. The rise equates to $33.10 a week after the Fair Work Commission’s decision was announced on Monday. About 180,000 people will see their hourly rate increase from $23.23 to $24.10 from July 1, as a result of

Dealmaking in the US oil and gas sector has soared to nearly $200 billion over the past year as major producers race to acquire rivals and expand their scale, reshaping the national energy landscape. With the prime drilling acreage quickly being claimed, companies are now broadening their horizons, seeking acquisitions beyond the most coveted oilfields

Qantas (ASX:QAN), Bonza, and Air New Zealand (ASX:AIZ) will miss out, but their global peers are having a great 2024 if the latest earnings upgrade estimate from IATA, the world airline lobby group, is any guide. Air NZ has been hit by an engine problem with Pratt and Whitney engines impacting Airbus planes, which is