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"Investors covered short positions ahead of the OPEC+ meeting amid worries over supply disruption from Kazakhstan," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. OPEC+ is due to hold an online ministerial meeting on Thursday to discuss 2024 production targets, after delaying the meeting from Nov. 26. The talks will be difficult and a rollover of the previous agreement is possible rather than deeper production cuts, four OPEC+ sources said. Kazakhstan's largest oilfields are cutting combined daily oil output by 56% from Nov. 27, the Kazakh energy ministry said. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, according to market sources citing American Petroleum Institute figures.

Persons: Turar, Hiroyuki Kikukawa, Warren Patterson, Ewa Manthey, Brent, Yuka Obayashi, Muyu Xu, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Brent, . West Texas, of, Petroleum, NS, Nissan Securities, ING, Federal Reserve, American Petroleum Institute, Reuters, Weekly U.S, Thomson Locations: Mangystau, Kazakhstan, Rights TOKYO, SINGAPORE, Russia, OPEC, Kazakh

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Also weighing on prices, U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 600,000 bpd below April levels. The government eased restrictions on Oct. 6, allowing diesel exports by pipeline, but kept measures on gasoline exports.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Nikolai Shulginov, Brent, Stephanie Kelly, Paul Carsten, Muyu Xu, Marguerita Choy, David Gregorio Our Organizations: REUTERS, bbl, YORK, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, Price Futures, Goldman, OPEC, Barclays, Thomson Locations: Loving County , Texas, U.S, Russia, China, Israel, Gaza, Beijing, OPEC, Moscow

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Tempering supply concerns, analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 0.6 million bpd below April levels. In more bullish news for crude prices, OPEC expects the global economy to grow and drive fuel demand despite economic challenges including high inflation and interest rates.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Stephanie Kelly, Paul Carsten, Muyu Xu, David Goodman, David Gregorio Our Organizations: REUTERS, Brent, ING, U.S . Energy Information Administration, EIA, American Petroleum Institute, Price Futures, Goldman, OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China, Israel, Gaza, Beijing

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. They were referring to an easing in tight oil supply conditions. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late Tuesday, citing American Petroleum Institute figures. Crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall, the EIA said on Tuesday. Data in China, the world's biggest crude oil importer, also raised doubts about the demand outlook.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Stephanie Kelly, Muyu Xu, Shri Navaratnam Organizations: REUTERS, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, EIA, Goldman, U.S ., OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsOct 11 (Reuters) - Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26 cents, or 0.3%, to $87.91 a barrel by 0312 GMT. U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.2%, to $86.14 a barrel. Israel produces very little crude oil, but markets are worried that the conflict could escalate and hurt Middle East supply, worsening an expected deficit for the rest of the year.

Persons: Agustin Marcarian, Brent, WTI, Warren Patterson, Ewa Manthey, Washington, Laura Sanicola, Muyu Xu, Leslie Adler Organizations: REUTERS, . West Texas, ING, Israel, U.S, U.S . Federal, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Brent, Gaza, Israel, Iran, Saudi Arabia, U.S ., U.S, Venezuela, Caracas

☆ The world will pay a high price if China cuts off supplies of chipmaking materials
▼ + stars: | 2023-10-11 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, it accounted for 98% of the global production of gallium and 68% of refined germanium production, according to the US Geological Survey (USGS). “Refining technologies and facilities for processing gallium and germanium cannot be built overnight, particularly considering the environmental implications of their extraction and mining,” she wrote in July. Analysts from the think tank said China’s leading position in the aluminum industry has allowed it to establish a dominant share of global gallium production. According to the USGS, Russia, Japan, and Korea produced a combined 1.8% of global gallium in 2022. Last year, the US Defense logistics Agency introduced a program to recycle optical-grade germanium used in weapon systems.

Persons: Hong Kong CNN —, ”, Xiaomeng Lu, Marina Zhang, Zhang, Ewa Manthey, haven’t, Chris Miller, Gregory Allen, Nyrstar, ” Lu, Manthey Organizations: Hong Kong CNN, geotechnology, Eurasia Group, China, Geological Survey, University of Technology, “, ING Group, Center for Strategic, International Studies, Washington, Analysts, Corporation, CNN, Global, Wadhwani Center, AI, Technologies, CSIS, Rostec, Reuters, US Defense, Agency, Commerce Ministry Locations: China, Hong Kong, Beijing, United States, Europe, Japan, University of Technology Sydney, Kazakhstan, Hungary, Germany, Russia, Korea, Teck, American, Netherlands, Australia, ” Lu, Eurasia, Canada

☆ China is restricting the export of two little-known metals crucial to the semiconductor industry. It shows Beijing still holds important chips in its tech war with the West.
▼ + stars: | 2023-07-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China will restrict the exports of gallium and germanium — metals vital to chipmaking — from August 1. The export curb is seen as a retaliatory move by Beijing amid a chip war with the West. A recent move by China to restrict the export of two little-known metals has again sent the semiconductor industry into a tailspin. Exporters can apply for export licenses if they want to continue shipping the products out of China, per the notice. China accounts for about 80% and 60% of global gallium and germanium production, respectively, according to Critical Raw Materials Alliance, a European industry association.

Persons: —, Biden, Janet Yellen, haven't, Ewa Manthey, Europe — Organizations: Authorities, Morning, West, Wall Street, Eurasia Group, US, Industry, Reuters, Alliance, ING Locations: China, Beijing, Netherlands, United States, Japan, European, North America, Europe

☆ Oil set to close higher in 2022, a turbulent year marked by tight supplies
▼ + stars: | 2022-12-30 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. U.S. West Intermediate crude was at $78.88 a barrel, up 48 cents, or 0.6%, after closing 0.7% lower on Thursday. Brent is set to close 2022 with a 5.76% gain after rising 50.2% in 2021. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes at the world’s No. Looking ahead on supplies, western sanctions will push Russia to divert more crude and refined products exports from Europe to Asia.

☆ Oil set to end turbulent 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. “Next year is set to be another year of uncertainty, with plenty of volatility.”On Friday, Brent crude was up 32 cents, or 0.4%, to $83.78 a barrel by 0915 GMT. So I think oil prices may fall to $60 next year,” he said. Oil’s fall in the second half of 2022 came as central banks hiked interest rates to fight inflation, boosting the U.S. dollar. 2 consumer in 2022 posted its first drop in oil demand for years.

☆ Oil set to end volatile 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana MeelCrude surged in March with international benchmark Brent reaching $139.13 a barrel, the highest since 2008, after Russia’s invasion of Ukraine upended global crude flows. U.S. crude was set to rise about 5% in 2022, following last year’s gain of 55%. “So I think oil prices may fall to $60 next year..Oil’s decline in the second half of 2022, largely on rising interest rates to fight inflation, boosted the U.S. dollar. The world’s top oil importer and second biggest consumer in 2022 posted its first drop in oil demand for years.

☆ Oil set to end turbulent 2022 modestly higher
▼ + stars: | 2022-12-30 | by ( Florence Tan | Emily Chow | ) www.reuters.com time to read: +3 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. Brent looked set to end the year with a 7.6% gain, after jumping 50.2% in 2021. So I think oil prices may fall to $60 next year,” he said. Oil prices cooled quickly in the second half this year as central banks across the world hiked interest rates to fight inflation, boosting the U.S. dollar. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes for the world’s No.

☆ Days after the EU's $60/barrel price cap kicked in, oil prices slump to pre-Ukraine war levels over economic uncertainty
▼ + stars: | 2022-12-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Oil futures slumped Tuesday to levels not seen before Russia invaded Ukraine. They reduced their net long positions in Brent oil by about one-third in the week to last Tuesday. In early Asian trade on Wednesday, US WTI oil futures were down 0.3% at $74.05 a barrel, while international Brent crude oil futures were 0.1% lower at $79.29 a barrel. Oil market sentiment has been on a roller-coaster ride lately. However, the price cap on Russian crude continues to spark uncertainty in the oil markets.

☆ Another OPEC? Indonesia wants to create a cartel for battery metals
▼ + stars: | 2022-12-05 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

The nickel market is also structured very differently than the market for crude oil, with private firms rather than national companies running the show. The country now accounts for more than 38% of global refined nickel supply, according to data from market intelligence firm CRU Group. People who track the nickel market are skeptical such an arrangement is workable. But other countries that have direct access to battery metals and other important minerals also want a say. “The metals market and its importance to the energy transition is something we’re all waking up to and adapting to how it’s going to work in practice,” Bronze said.

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