The US pricing system for rare earths is set to challenge China’s dominance
Washington's plan to create an independent, higher-priced pricing system has stepped up U.S. efforts in breaking China's dominant position on the rare earths markets and driving investment into its own industry. Low prices in China have made it difficult for the West to compete with China in the rare earths market. The West has long demanded a different pricing system that would help miners compete to supply the 17 rare earth metals required to produce magnets with super-strong magnetic fields of strategic importance. They are used for military applications, such as fighter jets and drones.
The Swiss zero-rate squeeze on banks could lead to a bumpy ride for the borrowers
Analysts say that banks in Switzerland may look for ways to increase the cost of banking services or credit as they are affected by the introduction of zero interest rates. After the Swiss National Bank cut its benchmark interest rate to zero in June, the country's borrowing cost was at the lowest among major economies. It was even lower than the European Central Bank deposit rate of 2.0%. Daniel Geissmann, a banking consultant at zeb, estimates that banks' net interest income could fall by 660 million Swiss Francs ($830m) this year. In 2024, banks will have made around 20 billion Swiss francs.
Britain's FTSE 100 closes record, boosted by miners
Investors ignored the latest U.S. threats of tariffs and focused on negotiations, resulting in a record-breaking FTSE 100 closing on Thursday. The commodity-heavy FTSE 100 climbed 1.2% to 8,975.66, exceeding its previous intraday high hit in March. Susannah Streeter is the head of money markets and Hargreaves Lansdown. The fact that the UK was among the first countries to sign an agreement with the United States also helped boost sentiment. The FTSE 100 has risen 9.8% this year. This is higher than the STOXX 600, a pan-European index that gained 8.9% and the S&P 500, a benchmark in America.
Europe looks to Nordic Space Race to reduce US dependence
Two small spaceports located in the far north of Sweden, Norway and Finland are rushing to launch the very first satellites launched from Europe. The region is looking to reduce its dependence on U.S. companies. The "America First" policies of U.S. president Donald Trump and the conflict in Ukraine has prompted Europe's independent capabilities to be boosted in many areas, including defence operations and space operations. Europe is scrambling to find alternative solutions amid fears that Elon Musk…
Copper futures rise after Trump announces a 50% tariff on imported copper
The President Donald Trump announced that he would announce a 50% copper tariff on Tuesday in order to increase U.S. production. Copper is a critical metal for electric vehicles, military equipment, the power grid, and many consumer products. U.S. Comex Copper Futures jumped over 12%, reaching a new record high, after Trump announced his planned tariffs. The announcement came earlier than expected and at a steeper rate. Trump informed reporters during a cabinet meeting at the White House that he would announce the copper tariff later in the afternoon, but did not specify when it would go into effect.
Trump announces a 50% tariff on imported copper
The President Donald Trump announced on Tuesday that he would announce a 50% duty on copper in the afternoon, with the aim of increasing U.S. production. Copper is a critical metal for electric vehicles, military equipment, the power grid, and many consumer products. Trump's decision imposed copper tariffs shocked the markets. It came earlier and at a greater rate than expected. After the announcement, U.S. Comex Copper futures jumped over 12% to a new record high. Trump informed reporters during a cabinet meeting at the White House that he would announce the copper tariff later in the afternoon…
Clean-energy supporters blast US budget as a setback
Clean energy advocates decried Thursday the House of Representatives' final passage of the President Donald Trump tax cut bill as a reverse in the energy transition. Meanwhile, fossil fuel interests celebrated. The bill now goes to Trump's desk. Trump is expected sign the bill on Friday. The law drastically reduces the 30% tax credit that developers were relying on for their solar and wind projects. This credit was set to last until 2032. Energy Innovation, a research firm, predicted that the bill will result in a decline of 300 gigawatts in U.S.
Venture Global signs 20-year LNG contract with Petronas
Venture Global Inc, a U.S. LNG exporter, announced Thursday that Petronas had agreed to purchase 1 million metric tonnes of LNG from the CP2 Project. This is its first new CP2 client in two years. Venture Global, a startup just three years ago has grown to be the second largest LNG producer in the United States and played a major role in keeping this country stable. According to a person who has knowledge of this matter, Petronas's 20-year deal would supply oil from the first phase of the project.
Trump's budget bill increases fossil fuels and hits renewable energy
The U.S. Senate approved a budget bill on Tuesday, and now the House of Representatives will debate it for final approval. This would slow down the development of solar and wind power, eliminate climate funding, and increase oil, gas, and coal production. The law drastically reduces the access to 30% tax credits for solar and wind energy projects, which were set to last until 2032 and on which developers relied for future projects. For projects to qualify for the subsidy they must either…
Dallas Fed survey: Oil and gas activity decreased in Q2 due to higher US steel tariffs
The Dallas Fed survey released on Wednesday showed that activity in the U.S. Oil and Gas sector in Texas and Louisiana, and New Mexico, decreased slightly in the second half of 2025. This was due to the increase in steel tariffs. The drop in activity comes after U.S. president Donald Trump, who encouraged U.S. manufacturers to "drill baby drill", doubled tariffs for steel and aluminum imports from 25% to 50%. About a quarter (25%) of the steel and aluminum used in America is imported. Investors experienced significant volatility during the second quarter. U.S.
Engie buys DNO's Norwegian gas production for four years
The Norwegian company DNO announced on Wednesday that it had sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie at an undisclosed price. The deal was facilitated by an American bank loan, as U.S. banks are increasing funding for the fossil fuel sector. It also said that it is in talks over a similar agreement and financing facility related to its North Sea oil production. The agreement will take effect on October 1, and it covers DNO’s increased gas production following its March acquisition of assets from Sval Energi.
Engie buys DNO's Norwegian gas production for four years
DNO sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie, for an undisclosed amount. It said that a U.S. loan facilitated the deal, as U.S. banks increase funding for the fossil fuel sector. The company also stated that it is in talks over a similar agreement of offtake and financing facility related to its North Sea oil production. DNO announced in a press release that the offtake agreement will take effect on October 1. It covers DNO’s increased production of gas following its March acquisition of assets from Sval Energi.
Zelestra, a Spanish renewable energy company, has received an additional $280 million for financing.
Leo Moreno, chief executive of Spain's Zelestra, said that the company has received a loan increase in the amount of 235 million euros ($277 millions) to help develop renewable energy projects across Europe, America and other countries. Zelestra, owned by the Swedish investment firm EQT (formerly known as Solarpack), has expanded beyond solar energy to include wind power and storage assets. The sustainability-linked financing, provided by a pool of 11 banks, dates back to 2023. The loan value has increased by 770 millions euros. This is the second time the loan was raised after a previous one.
US LNG Exports Fall in June Amidst Maintenance

U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country's largest export facilities hurt output, according to preliminary data from financial firm LSEG.The United States, the world's top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 MT in May and well below April's record of 9.3 MT, LSEG data showed.The reduction in LNG exports was primarily due to seasonal maintenance…
Q&A: Is Venezuela on the verge of losing its prized foreign asset, Citgo?
After at least three consortia revised their bids in June and a U.S. Court completed the second round of bidding in an auction of shares of Citgo Petroleum, owned by Venezuela, creditors are hopeful that they will receive payment for some outstanding Venezuelan debt. The auction of the seventh largest U.S. refiner was organized by a court in response to a case Crystallex, based out of Canada, brought eight years ago against Venezuela. Citgo Holding's parent company, PDV Holding was found liable by the federal court for Venezuela's past expropriations and debts.
Canada exports first LNG cargo from Pacific Coast
A spokesperson for Shell-led LNG Canada confirmed on Monday that Canada's first LNG export cargo was shipped from its Pacific Coast to Asia. The cargo was loaded on the tanker Gaslog Glasgow at LNG Canada's Kitimat site, British Columbia. This happened just over a weeks after the facility had confirmed its first production. It became the first large commercial LNG operation of the country. LNG Canada is North America's first major LNG plant with direct access to Pacific Coast. The project…
Orlen Will No Longer Purchase Russian Oil Starting July

Polish refiner Orlen will not buy Russian oil for its Czech refinery after June 30, Chief Executive Ireneusz Fafara said on Monday.The contract with Rosneft for Russian oil to be supplied to the Litvinov refinery in the Czech Republic was the last one linking Orlen to Russian oil, it said in a statement."We freed Central Europe from Russian oil today," Fafara told a news conference.The Czech Republic had said in April that it had become fully independent of Russian oil supplies for the first time in its history following the completion of capacity upgrades on the TAL pipeline coming from the west.Since
Investors flock to Europe due to the stability of the bloc, compared with US concerns
Peter Roessner feels both sides of Donald Trump’s trade war. Investor interest in European projects has increased despite the fact that tariff risks have forced H2Apex, a Luxembourg-based firm specializing in hydrogen, to stop relying on U.S. manufacturers for a project worth more than 200 millions euros ($235 million). He said that investors in the hydrogen industry are now more focused on the European market because of the uncertainty and insecurity surrounding the planning process in the USA. This included both U.S. and local players.
SLB predicts flat revenue and profit for the quarter amid weaker activity across Saudi Arabia and Latin America
Olivier Le Peuch, CEO of oilfield services firm SLB, said that the company expects the second-quarter revenue to be similar to the first quarter because drilling activity is weaker in Saudi Arabia and Latin America. Speaking at the J.P. Morgan Energy, Power & Renewables Conference, the CEO said that the company's Saudi Arabian activity had decreased more than expected, as several rigs were demobilized, and operations at the Jafurah unconventional gas field have been paused. The company also reported that short-cycle work was down in Latin America…
US energy company EQT settles lawsuit for $167.5 Million
According to a filing made by plaintiffs in federal court on Thursday, U.S. Energy Company EQT has agreed to pay $167.5 Million to settle a lawsuit brought by investors who alleged that EQT had overstated its benefits from its $6.7 Billion merger with Rice Energy. Officials from EQT did not respond to a request for comment immediately. The case includes the Eastern Atlantic States Carpenters Annuity Fund (the plaintiff), the Eastern Atlantic States Carpenters Pension Fund (the defendant) and the Cambridge Retirement System.