Posts Tagged ‘Stockpile’
Australia consults on critical minerals stockpile ahead of Albanese-Trump meeting
[MELBOURNE] Australia is formulating a plan for its critical minerals reserve that will focus on sales of future production, limiting the need for a physical stockpile, industry sources said, as Australian and US leaders prepare to meet next week. Australia’s critical minerals task force hosted a call last week with miners and project developers across…
Read MoreOil prices surge 3% to 7-week high as surprise US stockpile draw adds to supply worries
[NEW YORK] Oil prices climbed about 3 per cent to a seven-week high on Wednesday as a surprise drop in US weekly crude inventories added to a sense in the market of tightening supplies amid export issues in Iraq, Venezuela and Russia. Brent futures rose US$1.68, or 2.5 per cent, to settle at US$69.31 a barrel,…
Read MoreDid Iran Shift Its Uranium Stockpile Before Attack? Satellite Images Show Trucks Near Fordow Nuclear Site Ahead of US Airstrike
Satellite images that emerged on Monday morning appear to show dozens of trucks gathered at Iran’s Fordow nuclear site just days ahead of the U.S.’s major airstrikes, fueling speculation that Tehran may have shifted its uranium stockpiles before the attack. The images, provided by American defense contractor Maxar Technologies, showed more than a dozen cargo…
Read MoreAustralia To Stockpile Critical Minerals In Strategic Reserve
Australia will stockpile critical minerals in a new strategic reserve, Prime Minister Anthony Albanese said Thursday, as nations scramble to source rare earths and coveted metals outside China. Mining superpower Australia sits on bulging deposits of lithium, nickel and cobalt — metals used in everything from smartphones to electric vehicles. But most of this boon…
Read MoreOil prices settle down as US stockpile grows, tariffs still in focus
OIL prices fell on Wednesday (Jan 29), with the US benchmark settling at its lowest year to date, after domestic crude stockpiles in the world’s top petroleum producer and consumer rose more than expected last week. Brent crude futures settled down 91 US cents, or 1.2 per cent, at US$76.58 a barrel. US crude futures…
Read MoreGiant metal stockpile in Singapore sparks rare warehouse battle
METAL stockpiles are surging in Singapore, and slowing global demand is only part of the reason. Refined zinc and lead have been pouring into Singapore since the middle of last year, making one of the smallest countries in the world a critical vault for companies including Trafigura Group and Glencore. The combined inventories of…
Read MoreDonald Trump cites China competition in vowing to create Bitcoin ‘stockpile’
REPUBLICAN presidential candidate Donald Trump told a Bitcoin conference on Saturday (Jul 27) that the US must dominate the sector or China would, his latest move to court advocates of cryptocurrency, which Beijing has restricted and which he once dismissed as a “scam”. Speaking at the Bitcoin 2024 convention in Nashville, Trump positioned himself as…
Read MoreOil posts weekly gain as hurricane, stockpile drop extend rally
OIL posted its fourth straight weekly advance, with declining US stockpiles and Hurricane Beryl extending crude’s early-summer rally. West Texas Intermediate fell to settle near US$83 a barrel on Friday (Jul 5), but still cemented a 2 per cent weekly advance. The American benchmark hasn’t risen for four consecutive weeks since August 2023. The storm…
Read MoreUS Oil Stockpile To Be Refilled This Year: Energy Secretary
US Energy Secretary Jennifer Granholm speaks during the CERAWeek oil summit in Houston, Texas AFP The United States plans to refill its strategic oil reserve by the end of 2024 after the stockpiles reached historic lows last year, Energy Secretary Jennifer Granholm said Monday. Following the Russian invasion of Ukraine, US President Joe Biden announced…
Read MoreChina Boosts Nuclear Stockpile, Has 410 Warheads Currently, Says SIPRI
Chin is increasing the number of its nuclear warheads at a fast pace, the Stockholm International Peace Research Institute (SIPRI) has said in its latest report. China has as many as 350 warheads at the start of 2022, and this has increased to 410 warheads at the start of 2023, the SIPRI report said. The…
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