Ghana's Tema Refinery Says RFCC Due Online by May
Ghana's 45,000 b/d Tema Oil Refinery is conducting a major turnaround on its 14,000 b/d residual fluid catalytic cracker (RFCC), which has been offline since the plant’s restart at the end of December. The work is slated to finish by late April or early May, after which the unit could boost domestic gasoline output. Gasoline imports have remained steady at about 48,000 b/d, only slightly lower than a year earlier. TOR also plans to replace its 6,500 b/d catalytic reformer with a 10,000 b/d continuous catalytic reformer and is seeking investors for the upgrade.
Both Gold, Platinum Prices Consolidating in High Ranges
Gold prices have entered a consolidation phase, closing the week of Feb 20 at $5,067 per ounce, while a stronger dollar presents short‑term pressure. Ghana’s gold output rose to 187 t in 2023, positioning it as Africa’s top producer and potentially the...
Market Open: Gas Futures Climb Ahead of March Expiration as Weather Drives Trade
Natural gas futures for March surged early Monday as cold‑weather forecasts sparked heightened demand and a short‑covering rally. Prices tested key resistance levels ahead of the contract's Thursday expiration, prompting analysts to warn of increased volatility. While the immediate upside...
Tungsten Crunch Can Be Fixed Before Prices Spike Further: BMO
BMO Global Commodities Research warns that tungsten prices have surged fivefold in the past year as chronic under‑investment and tightening Chinese supply create a looming shortage. With China providing about 75% of global output, ore‑grade declines, environmental limits and export...
Indian DAP Stocks Fall Again in January
Indian DAP stocks slipped to just under 1.9 million tonnes in January, marking the fourth consecutive monthly draw. Imports plunged to 70,000 t while domestic production held steady at 342,000 t, and sales rose to 535,000 t, outpacing the three‑year average. Despite the short‑term...
Uganda to Link New Railway Line to Tanzania, Opening up New Export Route
Uganda announced plans to connect its new standard gauge railway to Tanzania’s under‑construction rail network. The line would run from the Tanzania border through southwestern Uganda to Mpondwe on the DRC frontier, linking mineral‑rich regions to the port of Dar...
UK Plans to Cut Carbon Costs for Refineries After Closures
The UK government is preparing to incorporate oil refining into its Carbon Border Adjustment Mechanism (CBAM) to shield the remaining domestic refineries from escalating carbon costs. A call for evidence will feed into the Future of Fuels strategy, slated for...
15-Year-Old VLCC Values Jump 57% Year-on-Year as Sinokor Linked to Teekay Exit
Teekay Tankers sold its 15‑year‑old VLCC Singapore Spirit for $84.5 million, a deal widely linked to Korean buyer Sinokor. Recent disposals by CMB.TECH of similar‑aged vessels also point to Sinokor’s aggressive purchasing pattern, with the firm tied to over 40 VLCC...
SPX Skew Steepens to 1Y High as Tariff Uncertainty Rises
The Cboe report shows the S&P 500 1‑month skew surged to a one‑year high, reflecting heightened demand for downside protection as tariff policy uncertainty intensifies. Oil implied volatility spiked to 52% after fears of a US‑Iran conflict, while equity and rates...
Last Week’s Trades Point to Firmer Markets: CGX
Clear Grain Exchange (CGX) reported a more balanced grain demand last week, with wheat and barley each accounting for 34% of trades, a sharp shift from wheat‑dominated activity the week before. Canola represented 15% of transactions while pulses and other...
Lodestar Minerals Reports High-Grade Rare Earths at New US Project
Lodestar Minerals announced that reconnaissance sampling at its newly acquired Virgin Mountain project in Arizona returned exceptionally high rare earth oxide grades, including up to 3.73% total rare earth oxides (TREO) with a heavy rare earth (HRE) dominance. The assays...
Daily Market Wire 23 February 2026
Wheat futures posted a three‑session rally as compressed spreads triggered massive short covering after the VSR observation period ended. Export commitments now cover 92 % of the USDA’s annual target, while Russian strikes have reduced Ukrainian Black Sea export capacity by...
ConocoPhillips Explores $2-Billion Sale of Permian Basin Assets
ConocoPhillips is weighing a $2 billion sale of Permian basin assets located in the Delaware basin, assets it acquired through deals with Concho Resources and Shell. The move is part of a broader portfolio streamlining that followed its $17 billion Marathon Oil...
Africa: Africa's Regional Blocs Must Prevent a Silent Scramble for Critical Minerals
A new scramble for Africa's critical minerals—lithium, cobalt, graphite, platinum‑group metals and rare‑earth elements—is driven by global green‑energy supply chains. The article argues that regional blocs such as SADC, ECOWAS and EAC must coordinate policies to move from raw‑material exports...
Coal Demand Set for Uptick on Rising Power Needs
India’s power demand rebounded sharply in December, posting a 6.3% rise, and continued climbing in January as a harsh winter and improving economic activity spurred electricity consumption. The surge is expected to lift coal demand, reversing a period of weakness...
Gold Digger: Why Gold Remains the Market’s ‘Biggest Trade’
Triple Eight Capital’s Roscoe Widdup warns that gold remains the market’s biggest trade, with bullion prices poised to climb above $5,000 per ounce. He highlights that top gold miners are trading at less than 10 times forward cash‑flow, a steep discount...
Invenergy Inks Supply Deal for Three New Natural Gas-Fired Power Plants in Arizona
Invenergy announced a supply agreement with Tallgrass to provide natural‑gas infrastructure for up to three new gas‑fired power plants in Arizona’s Maricopa and Yuma counties. The deal comes as the utility expects electricity demand to surge more than 40% over...
YPF Chief Readies War Chest for Shale Push
YPF SA is committing to keep its $3.5 billion upstream capital spending unchanged, even if oil prices slip to $55 per barrel, to sustain its shale push in the Vaca Muerta basin. CEO Horacio Marin said the company has raised a $1 billion war...
Chariot to Raise $20 Million to Fund Offshore Angola Oil Production Stake
Chariot Plc announced a $20 million equity placing to help finance the acquisition of a producing oil interest offshore Angola. The deal, in partnership with Shell Trading and Etu Energias, targets Blocks 14 and 14K, which currently produce about 8,000 barrels per day....
Trump Threatens 'Global' Tariff on Aluminum Scrap
President Donald Trump signaled a possible 10% tariff on U.S. aluminum scrap imports after the Supreme Court struck down his earlier country‑specific duties. He indicated the executive order would invoke Section 122 of the 1974 Trade Act, which permits duties...
January Milk Production Rises as USDA Reports Four Percent of Dairies Closed
U.S. milk production rose 3.2% in January, reaching nearly 20 billion pounds, while per‑cow output increased by 24 pounds. The dairy herd expanded by 200,000 head to 9.15 million, despite a 4% drop in licensed dairy farms for 2025. Kansas and South Dakota...
U.S. Poultry Production Falls to Start 2026
U.S. poultry production slipped in January 2026, with the USDA reporting 4.49 billion pounds certified wholesome—a 3% year‑over‑year decline. Chicken output fell 3% to 4.081 billion pounds, while turkey production dropped 4% to 398.6 million pounds. The contraction stems from slower processing speeds...
Soybean Growers Applaud Court Ruling, Warn Against New Trump Tariffs
The U.S. Supreme Court ruled that President Trump cannot invoke the International Emergency Economic Powers Act to impose tariffs on agricultural inputs. The decision overturns several IEEPA tariffs on fertilizer and farm equipment, a relief for soybean growers. Despite the...
Closing Grain and Livestock Futures: February 20, 2026
On February 20, 2026, U.S. grain and livestock futures showed mixed movement. Corn edged higher to $4.27, while soybeans slipped to $11.37 and soybean meal rose to $309.80. Livestock prices fell, with live cattle at $242 and feeder cattle at...
Venezuela to Export First Asphalt Since May
Venezuela has begun its first asphalt export since the U.S. revoked sanctions waivers in May 2025, with the 36,681‑dwt vessel The Judge loading at Amuay Bay. The shipment follows new OFAC general licenses issued on Jan 29 that lifted restrictions on...
Permian Plunge Pressures Natural Gas Forward Curve as Northeast Premiums Fade
Permian’s Waha hub price plunged more than 50 cents per MMBtu, pushing the natural‑gas forward curve into negative territory through mid‑2026. At the same time, Northeast gas premiums retreated despite forecasts of a cold weekend, narrowing the regional price spread. Western...
The Hydrogen Stream: Dutch Agribusiness Installs 1 MW Electrolyzer
Dutch tulip nursery Rainbow Colors has become the first agricultural firm to commission a 1 MW solid‑oxide electrolyzer for on‑site hydrogen generation, integrated with a solar array and battery storage. The system, built with Denmark’s Dynelectro and Ekinetix, can produce hydrogen...
The World’s Largest Lithium Metal Maker Is Now Producing Semi-Solid-State EV Batteries
Ganfeng Lithium, the world’s largest lithium‑metal producer, has begun mass‑producing semi‑solid‑state batteries with energy densities ranging from 400 to 650 Wh/kg. The company secured supply agreements with major OEMs including Tesla, Volkswagen, Hyundai, and BMW for lithium hydroxide and other battery...
First Quantum Pegs Argentina Copper Mine’s Value at $5.9B
First Quantum Minerals announced that its Taca Taca copper‑gold project in northwest Argentina now carries an after‑tax net present value of $5.92 billion and a 19.3% internal rate of return, more than double the 2021 estimate. Updated reserves rose 13%, adding...
Surging Oil Tanker Rates Tipped to Go Even Higher
Oil supertanker charter rates have surged, with VLCC earnings on the Middle East‑to‑China lane reaching $151,208 per day, the highest since 2020. The spike is driven by heightened geopolitical risk from a potential US‑Iran conflict and a tightening supply of available...
USA Crude Oil Stocks Drop 9MM Barrels WoW
U.S. commercial crude inventories fell 9 million barrels in the week to Feb 13, leaving stocks at 419.8 million barrels—about five percent below the five‑year average. Total petroleum stocks also dropped 18.9 million barrels week‑on‑week, though they remain 62.9 million barrels above a year ago....
AngloGold’s Earnings Benefit From Strong Production Growth
AngloGold Ashanti reported record free cash flow of $2.9 billion for 2025, driven by a 16% rise in gold production to 3.1 million ounces and a 45% increase in average gold price to $3,468 per ounce. The company declared an interim dividend...
Correction to Bauxite, CIF China Price on February 20
Fastmarkets announced that the bauxite CIF China price assessment published on February 20 was invalidated due to a procedural error. The pricing database has been corrected, and the next release will occur on February 27, following the Chinese holiday calendar....
BOEM Proposes 3rd GOA Lease Sale
The U.S. Interior Department’s Bureau of Ocean Energy Management (BOEM) announced a proposed notice for Lease Sale Big Beautiful Gulf 3 (BBG3), slated for August 12, 2026. The sale would put roughly 15,066 offshore blocks covering 80.4 million acres on the market, with a...
Commodity Boom Helps to Drive JSE Confidence
South Africa’s commodity surge—gold up 65% and platinum 125%—is fueling a boom on the Johannesburg Stock Exchange, with mining firms delivering double‑digit returns. The JSE’s recent rule changes, cutting shareholder approval thresholds from 75% to 50% and aligning disclosure standards,...
Brazil Imposes Anti-Dumping Duties on Chinese Steel
Brazil’s foreign trade committee approved five‑year anti‑dumping duties on a wide range of Chinese steel products after a 2024 investigation revealed pricing below market levels. The duties range from US$323 to US$670 per ton for cold‑rolled coil and US$285 to...
Navios Lines up $134m Capesize Duo
Navios Maritime Partners announced two long‑term bareboat‑in contracts for Japanese‑built capesize vessels, with purchase options valued at roughly $134.3 million and an effective 6% interest rate. The ships, fitted with scrubbers, are slated to join the fleet in late 2028 and...
GLD: My Second-Largest Portfolio Position, On Path To Become My Largest Holding
GLD remains a buy as its fundamentals stay strong despite recent price swings. The SPDR Gold Shares ETF has generated nearly a ten‑fold return since inception and now manages over $174 billion backed by 1,080 tonnes of gold. Retail physical‑gold sales are...
Goldman: Gold to Grind Higher to $5,400/Oz by End-2026 on Strong Demand
Goldman Sachs projects gold prices to climb to $5,400 per ounce by the end of 2026, driven primarily by renewed central‑bank buying and modest private‑investor inflows linked to Federal Reserve rate cuts. The forecast assumes a conservative base case with...
How Do You Modernise Mango Farming?
India produces roughly 23 million tonnes of mangoes annually, yet climate‑driven season shifts and rising input costs are eroding yields. Researchers at ICAR have sequenced the mango genome, accelerating breeding of temperature‑resilient and pest‑tolerant varieties. Farmers like Upendra Singh and Neeti...
Anglogold Ashanti PLC (AU) Q4 2025 Earnings Call Transcript
Centerra Gold reported nearly $100 million of free cash flow in the quarter, driven by strong production at Öksüt and elevated metal prices. Gold output reached almost 82,000 ounces and copper 13.4 million pounds, while all‑in sustaining costs rose to $1,652 per...
Civil War-Torn Sudan Sits On Unexplored Mineral Riches Worth Billions
Sudan, despite a civil war that began in 2023, is courting foreign investors to develop its largely untapped mineral portfolio that includes gold, copper, uranium and rare‑earth elements. Gold production set a new record of 70 tonnes in 2025, generating...
Market Watch: Nymex Dips Below $3 Amid Mild March Outlook
Nymex natural gas futures for March slipped 1.5 cents to $2.996 per MMBtu on Thursday. This marks the first time the prompt‑month contract has settled below the $3 threshold since mid‑October. Despite short‑term expectations of cooler weather early next week, analysts...
Spot Cash Electricity Prices, Feb. 19, 2026
On February 19, 2026, the U.S. spot cash electricity market posted a 3.2% increase in average price, reaching $58.4 per megawatt‑hour. The rise reflected higher natural‑gas forward curves and a dip in wind generation across the Midwest. Day‑ahead trading volumes...
Tongaat Hulett Collapse Looms
Tongaat Hulett, South Africa's leading sugar producer, is heading for provisional liquidation after its business rescue plan collapsed. The Vision Group's acquisition of lender claims and a debt‑to‑equity swap failed, leaving the rescue unimplementable. Cosatu warns the collapse will trigger...
SB Energy Tapped for Proposed 9.2‑GW Ohio Gas Power Plant in First Tranche of $550B U.S.–Japan Deal: What We Know
The Trump administration announced that SoftBank’s U.S. affiliate SB Energy will develop a proposed 9.2‑GW, $33 billion natural‑gas power complex near Portsmouth, Ohio. The project is the flagship of a $36 billion first tranche of a $550 billion U.S.–Japan strategic investment framework that...
Ausenco to Lead Feasibility Study at Ikkari Project
Rupert Resources has engaged Auscenco Engineering to head the feasibility study for the Ikkari gold project in northern Finland, a multi‑million‑ounce development slated for completion by mid‑2027. The study builds on recent optimisation work that delivered over 95% gold recoveries...
MoneyTalks: Rare Earths Disconnect Creates Opportunity in Small Caps
Rare earth prices have surged about 42% year‑to‑date, yet most junior stocks remain flat, creating a valuation disconnect. Acorn Capital’s Rick Squire sees this inefficiency as a buying opportunity for ASX‑listed explorers focused on low‑capex, fast‑track projects. He highlights ionic‑clay...
Delayed Publication of Taiwan Steel Scrap
Fastmarkets announced a delayed release of the MB-STE-0464 price for HMS 1&2 steel scrap (80:20 mix) imported to Taiwan. The price reflects US material imports, CFR main port Taiwan, and is part of Fastmarkets' scrap package. The notice invites market participants...
Canada Not a ‘Dumping Ground or Transshipment Hub;’ Section 232 Tariffs Unjustified: CSPA
The Canadian Steel Producers Association (CSPA) argues that the U.S. Section 232 steel tariffs are unjustified, noting Canada is not a dumping ground or transshipment hub. Since the tariffs took effect, Canada has lost roughly 2 million metric tons of steel...