Shares of major aluminium producers rallied on Monday after Iranian airstrikes damaged key production facilities in the Middle East, fuelling concerns of a global supply shock and driving metal prices sharply higher. US-listed Alcoa rose nearly 10%, while Century Aluminum surged about 11%. Kaiser Aluminum also gained 4.7%, as investors reacted to tightening supply conditions.
As Brent crude prices soar amid escalating tensions in the Gulf, the oil trading landscape faces unprecedented challenges, according to Baron Lamarre, co-founder of International Digital Exchange, an expert in energy markets and former trader at Petronas and Shell. In an interview with Invezz, Lamarre highlighted how traditional oil trading is being stress-tested at its weakest
Saudi Arabia lifted crude exports from Yanbu to around 4.6 million barrels per day (bpd) last week, approaching the port’s 5 million bpd limit, as shipments were rerouted away from the Strait of Hormuz amid the US-Israeli war with Iran, according to data from Kpler and LSEG cited by Reuters. Saudi Aramco, the world’s largest
Nvidia shares were volatile on Monday, even as reports suggested continued spending from artificial intelligence-focused customers. The stock was down 0.5% to $166.09 in early trading. The AI darling is down around 10% for the year. The moves come amid fresh announcements from key players investing heavily in AI infrastructure, reinforcing demand for Nvidia’s chips
Blockage of the all-important Strait of Hormuz has caused the largest disruption in the oil market, and gold price is feeling the heat. While the long-term outlook remains bullish, investors are keen on how the Fed and other major central banks will respond to the uncertainties. Besides, hopes of a ceasefire in the Middle East
The social media landscape shifted violently this week as a wave of selling wiped billions in market value. The catalyst? A landmark legal blow; a California jury found Google and Meta Platforms negligent in a high-profile “social media addiction” trial, sparking fears of a costly regulatory overhaul. Amidst the carnage, however, a senior Wells Fargo
The global video-game industry is entering a period of recalibration after Sony raised prices of its flagship PlayStation 5 consoles for the second time in less than a year, underscoring mounting cost pressures tied to memory chip shortages and supply-chain strain. The move, which lifts US prices by as much as $100 starting April 2,
Bitcoin price remains in a technical bear market this week after falling by double digits from the all-time high. BTC was trading at $66,800 on Sunday, and its fundamentals and technicals suggest that it has more downside to go in the foreseeable future. Bitcoin price technical analysis points to a steep crash The three-day timeframe
Despite enduring a rollercoaster ride since late February, the global oil market’s price reaction to the largest supply disruption in history has been remarkably muted. This calm, initially attributable to existing market buffers, is now precarious as the system that stabilised prices for four weeks has fundamentally changed. The oil market absorbed the disruption in
The S&P 500 Index continued its strong downward trend last week as the Iran war continued, pushing crude oil and natural gas prices higher. The SPX index fell to $6,368, its lowest level since August last year. It has fallen in the last five consecutive weeks. S&P 500 Index in focus as Iran war takes