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“For Commodity traders, it’s become textbook,” says GSC. “Buy the panic, ride the rally, sell into the reversal – and reload ahead of the next headline.” Inflation Is Back – And Commodities Could Be the Big Winner By design, tariffs drive up costs. With Trump threatening to impose duties as high as 70%, average import prices could spike dramatically – fuelling inflation across everything from metals and energy to food. In a world where central banks are already cautious about cutting rates too soon, this sets up a Stagflationary scenario: slower growth, stickier inflation and rising input costs. It’s a…

Oil rose as Saudi Arabia surprised customers in Asia by hiking prices for its main crude grade, a vote of confidence that the market can absorb extra OPEC barrels. West Texas Intermediate crude advanced more than 1% to settle just below $68 a barrel, erasing earlier losses, while Brent settled above $69 a barrel. Saudi state producer Aramco will raise the price for Arab Light crude, its flagship grade, by $1 a barrel to $2.20 a barrel more than the regional benchmark for Asian customers in August, according to a sheet from the company seen by Bloomberg. The pricing move…

A Greek-operated bulk carrier was attacked in the Red Sea on Monday in the second Houthi strike on commercial shipping in less than 24 hours, stoking fears of a renewed escalation in one of the world’s most critical oil transit corridors, Arab and Israel media report.The Eternity C, a Liberia-flagged vessel managed by Athens-based Cosmoship, was hit off Yemen’s Hodeidah coast using a combination of sea drones, rocket-propelled grenades, and small arms. Two seafarers were seriously injured and two more are missing, according to shipping intelligence sources cited by media. The vessel was reportedly en route to Iran with a…

Iraq’s Dhi Qar Oil Company has raised oil production by a combined 80,000 barrels per day across three strategic southern fields, Nasiriyah, Gharraf, and Saba, IraqiNews reported on Monday, marking one of the country’s most significant boosts this year as OPEC+ opens the door to higher member output.According to IraqiNews, seven new wells were drilled at the Nasiriyah field alone, lifting production from 52,000 bpd to 70,000 bpd. Additional volumes from Gharraf and Saba rounded out the total increase, though specific site figures were not disclosed.The announcement follows OPEC+’s decision last month to unwind 2.2 million bpd of voluntary cuts…

Draeger Marine & Offshore (DMO) has supplied equipment to support the UK’s first carbon dioxide (CO2) injection test for carbon capture and storage (CCS). The gas monitoring equipment is being used to ensure safe operations aboard Petrodec’s ERDA rig during its trailblazing project in the North Sea.  Draeger’s X-zone gas detection technology Perenco recently announced the completion of the tests at the depleted Leman natural gas reservoir in the Southern North Sea using Petrodec’s ERDA rig, the first rig in the UK to have achieved an approved safety case for supporting CCS operations. As well as marking a…

Americans may need to download a new version of CapCut to keep using its video-editing tools.The app’s owner, ByteDance, has laid out plans to split US users into a new version of CapCut called “CapCut US,” according to documentation viewed by Business Insider. Setting up a US-specific app could be part of a broader plan to comply with a 2024 law that required ByteDance to separate from TikTok and its other US assets or essentially cease operating in the country.ByteDance is similarly planning to create a separate US version of TikTok, The Information reported on Sunday. The plan to split…

(BOE Report)– OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab Emirates’ move to a larger quota, five sources said. The group, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain market share and as U.S. President Donald Trump demanded the group pump more to help keep gasoline prices lower. OPEC+ began to unwind cuts of 2.17 million barrels per…

Valaris Limited has been awarded a 940-day contract extension for drillship VALARIS DS-16, starting in June 2026, and a new 914-day contract for drillship VALARIS DS-18, the company announced Monday. The contract is expected to start in mid-fourth quarter 2026, with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, in the Gulf of America/Gulf of Mexico. The combined addition to contracted revenue backlog is approximately $760 million. “We’ve secured approximately $1.9 billion in new contract backlog so far this year, reflecting solid execution of our commercial strategy and our ability to deliver safe and efficient operations for our customers,” said…

Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.BP has appointed a former chief financial officer of rival Shell to its board as the energy major seeks to bolster the oil and gas experience among its non-executive directors in response to investor pressure.Simon Henry, who held the role at Shell from 2009 until 2017, will join BP’s board from September, the company said on Monday.Since leaving Shell after a 35-year career, Henry has served as a non-executive director at Lloyds Banking Group, PetroChina and North Sea-focused oil producer…

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