September 3, 2024

Demand for oil and key products like gasoline is waning, sending global crude prices to nine-month lows on Tuesday. As U.S. markets reopened after the Labor Day holiday, which marks the end of summer and the return to business as usual, prices plummeted. Labor Day typically signals the end of the “summer driving season,” a […]

Oil prices dropped to their lowest levels this year after reports suggested that Libya might soon resume full production, raising concerns about an oversupply in the market amid weak global demand. Brent crude, the international benchmark, fell by as much as 5% to $73.67 on Tuesday, its lowest point since December and the first time

Shares of Freeport-McMoRan (FCX) and other major copper miners took a hit after Goldman Sachs ended its long-standing recommendation to buy copper and significantly reduced its price forecast for the metal. Goldman Sachs now expects copper to average $10,100 per ton by year-end, down from its previous forecast of $15,000. In a note released Monday,

US stocks took a sharp downturn on Tuesday as technology shares faltered and new economic data reignited concerns about the health of the economy. The Dow Jones Industrial Average fell by 626.15 points, or 1.51 per cent, closing at 40,936.93. The S&P 500 dropped 2.12 per cent to end the day at 5,528.93, while the

Chalice Mining (ASX:CHN) has one of the richest mineral deposits in the world, located just 70 km north of Perth. Yet, not a single global major or investor is interested, except at usurious rates that would destroy its long-term value to both Chalice and Australia. The Gonneville palladium, platinum, gold, copper, and cobalt find, with

Genesis Minerals (ASX:GMD) announced on Tuesday that it has brought forward the restart of its Laverton mill in WA’s Goldfields to take advantage of near-record gold prices, especially in Australian dollars. Genesis informed the ASX that it will restart processing at the mill six months earlier than previously planned, with operations set to commence in

The Australian share market experienced a slight decline on Tuesday, primarily due to losses in consumer-related and mining stocks. This downturn was attributed to a reassessment of the impact of further commodity price decreases. The S&P/ASX 200 index closed 0.1% lower, just below its record high. Several sectors, including consumer-related stocks and mining giants, contributed

The prospective cost for News Corp’s 61%-owned REA Group (ASX:REA) to buy Rightmove in the UK has just risen well above A$11 billion. This follows a surge in Rightmove’s shares, which climbed more than 27% to £5.59 billion, or A$11.01 billion, during trading in London. The property portal had been valued at £4.4 billion on

BYD broke its record for sales in August, while Tesla came close to achieving its best performance in the ultra-competitive Chinese market over the past year as Elon Musk’s EV company regained some momentum. BYD, the world’s largest EV maker, reported a 35% surge in its China passenger vehicle sales in August compared to the

If Australia avoids a recession in today’s (Wednesday) national accounts for the June quarter, it will be due to positive contributions from trade and government financial transactions. Data from the Australian Bureau of Statistics on Tuesday, covering the June quarter current account and government financial dealings for the same period, showed that a surprisingly strong