Tackling Microplastics, Safer Nuclear, Massive Battery Recycling Deal
In the latest Current Climate: 🫗Cracking down on microplastics in drinking water ⚛️A cheaper, safer form of nuclear power 🔋A $1.1 billion deal to get nickel and lithium from a “black mass” of recycled battery waste https://www.forbes.com/sites/current-climate/2026/04/06/a-move-to-crack-down-on-microplastics/
Israel Strikes Iran's Asaluyeh Petrochemical Complex, Spares Gas Field
Israel appears to have attacked again the petrochemical plants connected to the South Pars gas project (but not the gas field itself or any of its immediate processing facilities). Israel said its military hit Iran's largest petrochemical facility, located in Asaluyeh.
Q2Metals Announces Cisco Project Exploration Target Range
Last summer, @Q2Metals reported an Exploration Target on its Cisco Project estimating a range of potential mineralization and grade. Alicia Milne spoke with Mining Stock Daily. $QTWO https://t.co/5I8oS5H2dz https://t.co/cCo679mvgP
Crude‑Gold Ratio Hits Historic Peak, Signals 2026 Reversal
Worthy Reversion Spark? Stocks vs. Gold, GDP, Crude Mean reversion can be profound when it's from historical extremes, and the relationship between crude oil and gold may suggest a reverse wealth effect that defines 2026. The roughly 86x January high in...
Commodity Exchanges Distort Prices, Not Discover Them
Is the commodity exchange model broken? When physical markets and paper prices tell completely different stories – in oil, metals and beyond – it raises a fundamental question: are exchanges still discovering prices, or distorting them? In this article I...
Quad3 Cycle Highs Signal Ongoing Bond Yield Breakout
COMMODITIES: New #Quad3 Cycle Highs last week should keep Bond Yields in breakout mode https://t.co/m2QLuLPYDZ
Saudi Raises Arab Light Price to Record Premium
Saudi Arabia has increased its official selling price (OSP) to a record high. The state-owned Saudi oil giant told refineries in Asian it would charge a premium of $19.5 a barrel over the regional benchmark for sales of its flagship...
IEA Calls for Oil‑Style Security Framework for Critical Minerals
The IEA says critical mineral stockpiles need an oil-style security framework to reduce supply disruption risk. https://www.metalnomist.com/2026/04/critical-mineral-stockpiles-need-oil.html
India's Russian Crude Imports Surge 94% in March
🇮🇳India’s Russian crude imports rebound sharply — up nearly 94% in March MoM and 10% YoY. https://t.co/O0zIu8LcIi
Trafigura Secures Major London Victory, Pursues Large Damages
Trafigura won a major London court ruling in its fake nickel cargo fraud case and will seek substantial damages. https://www.metalnomist.com/2026/04/trafigura-nickel-fraud-ruling.html
China Slashes Crude Imports, Doubles Floating Storage
China's crude oil imports declined by about 490 kb/d in March YoY. Floating storage more than doubled. Onshore storage increased by about 66 mb. China knew...
Asian Oil Stocks Plunge, US And
Major drop in crude oil inventories in Japan, followed by India. US and China are up! Make you own conclusions.
Gold Leads US Exports, Offsetting Trade Deficits
The US’ single biggest export in February was “non-monetary gold.” Gold has been the US’ biggest export in 4 out of the past 5 months (it was the 2nd biggest export in the 5th mth.) Trump is partially settling US trade deficits...
Turkish‑operated Tanker Moves 1 M Barrels via Iran’s Corridor
Roughly 1 million barrels of Iraqi Basra Heavy has passed through the Strait of Hormuz using the Iranian-assigned corridor. The vessel, a shadow fleet tanker, is owned and operated by a Turkish company. Map form @Kpler
In Panic, Oil Hoarding Is Inevitable—China Must Act
⭕️When markets are in panic, asking countries not to hoard oil is like asking people in a lifeboat not to ration the food — everyone knows the supplies might run out before rescue arrives, and self-preservation kicks in hard. ⭕️China...
Australia Assures Fuel Supply Ahead of Japan PM Visit
Australia given fuel supply assurances as plans in works for visit by Japan's prime minister https://t.co/C0jQ0t1KjJ via @ABCaustralia
Get Natural Gas Straight From the Permian
Want natural gas? Come to the Permian and just take it. No really, I’m serious.
Russian LNG Vessel Shifts From Arctic to Africa‑Asia Trade
This is a story packed with irony — perfect for the media: An ICE-class LNG carrier, once dedicated to carrying Yamal LNG from Russia’s Arctic, is now transporting LNG from Africa to Asia. The question is: Why is a Russian company shipping...
Diesel Prices Poised to Surge Toward $11/Gal
We warned in the Daily Energy Report and the Weekly US Data Report about a month ago that diesel prices will skyrocket and inventories might decline to record levels. Will it go to $11/g?
U.S. Supplies Half Global NGLs; Hormuz Crisis Cuts 19% Shipments
⭕️The United States is not only the world's largest producer of natural gas liquids (NGLs), but it accounts for roughly half of global production. ⭕️ The Hormuz crisis blocked the shipmnets of about 19% of seaborn tarded NGLs. https://t.co/PeoruA92IE
EU's Own Sanctions Undermine
The irony is: the EU reduced its dependence on Russia to improve "energy security"! Slovak PM says EU should drop sanctions on Russian oil and gas to boost energy security https://t.co/FmUhPkAcgE
US Supports 5N Plus Germanium Refinery Expansion in Utah
US backs 5N Plus to expand germanium refining in Utah and strengthen strategic domestic supply. https://www.metalnomist.com/2026/04/us-germanium-refining-expansion-gains.html
Implats Keeps 1H26 PGM Output Flat, Zimbabwe Offsets SA Decline
Implats held PGM output nearly flat in 1H26 as Zimbabwe growth offset weaker South African mine performance. https://www.metalnomist.com/2026/04/implats-pgm-output-holds-steady-as.html
Tariffs and Middle East Conflict Drive Aluminum Prices Sky‑High
Aluminum prices are up over 83% YoY. First, Trump’s tariffs strained supply. Now war in Iran is cutting Gulf imports that supply 20% of US aluminum imports. TRUMP’S TARIFFS + TRUMP’S WAR = A BIG BILL FOR AMERICANS. https://t.co/M0EPxDjZSN
IRGC Lets Iraqi Oil Ships Through, yet Attacks Fields
So… the Iranian IRGC exempts ships carrying Iraqi oil and allows them to sail through the Hormuz Strait, but drone attacks on Iraqi oil fields continue. https://t.co/PoAWXPyVEz
One‑Third of Global Helium Locked Away, Raising Supply Risks
A Third of the World’s Helium Is Trapped. Here’s What That Means. https://t.co/3nC0gUclwq via @hedgeye
India Resumes Iranian Oil Imports After Sanctions Eased
New Delhi confirms its buying oil from Iran (after US eased sanctions): “… Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports…”
Copper's Resilience Signals Structural Demand, Build Positions Now
The remarkable resilience of copper prices given what we’re seeing across markets cannot be ignored. It’s striking how the metal is evolving from a traditional cyclical gauge of economic activity to one increasingly driven by structural demand and a tightening supply...
US and Israel Strike Iran's Major Khuzestan Petrochemical Complexes
According to Iranian media, the US and Israel have attacked several large petrochemical sites in the Khuzestan province near the border with Iraq. The area between Mahshahr and Bandar Imam Khomeini are home to some of the Iranian largest petrochemical complexes.
Sixth Week of Hormuz War Sparks Oil Demand Destruction
The Third Gulf War (aka, the ‘Hormuz War’) is entering into its 6th week, at the very end of the initial White House guidance of a 4-6 week campaign. For the oil market, we are into demand destruction territory, although...
Indonesia's Weda Bay Achieves On‑Spec MHP Production
BSE produced on-spec MHP at Weda Bay, marking a key HPAL commissioning step in Indonesia’s nickel battery chain. https://www.metalnomist.com/2026/04/bse-on-spec-mhp-output-marks-new-step.html
Liontown Lithium Sales Surge 38% on Kathleen Ramp
Liontown lithium sales rose 38pc in 4Q 2025 as Kathleen Valley ramped up and auction pricing added upside. https://www.metalnomist.com/2026/04/liontown-lithium-sales-jump-as-kathleen.html
Strait of Hormuz Now Central as Vulnerabilities Rise
“They've demonstrated to the Gulf states how vulnerable they are and how vulnerable the global economy is,” said a European official briefed on diplomatic efforts to end the war. “So the price has gone up. The Strait of Hormuz never...
Caterpillar Forecasts Robust 2026 Demand From Backlog, Energy, Mining
Caterpillar sees strong 2026 demand backed by a record order backlog, energy growth, and firmer mining equipment demand. https://www.metalnomist.com/2026/04/caterpillar-2026-demand-outlook-turns.html
US Interior Forms Marine Minerals Administration for Offshore Resources
The US Interior Department said it’s merging two oversight agencies to create a Marine Minerals Administration and move toward a “more modern, coordinated approach” to managing offshore resources, including critical minerals https://t.co/93zG6cCxNI
Half Global Sulfur Flows Through Hormuz, Fueling Industry
John Dizard nailed this one in The Institutional Risk Analyst w/ @rcwhalen: "Most, around half, of sulfur in the world goes through the Strait of Hormuz. You need sulfuric acid in order to produce copper, steel, nickel...you really need it to...
Copper Cheap vs Gold; Need Eight New Escondidas by 2030
Copper is up over the last decade but trading at an almost four-decade relative low against hard money gold. Chile's Escondida mine in the Atacama desert is the world's biggest copper mine. The world needs eight new Escondidas by 2030. https://t.co/ogTy5RdE0y
Soybean Prices Capped at $12 Amid Record Brazil Output
Soybean's $12 Ceiling Alongside $120 Crude Oil It may take some combination of WTI crude oil staying above $100 a barrel, a poor Brazilian crop and a Corn Belt drought for soybeans to stay above $12 a bushel. Alongside crude's spike...
Oil Futures Curve Contradicts White House’s Iran Disruption Claim
White House top economic adviser Kevin Hassett says the oil futures market agrees Iran is a short-term disruption. Apparently he means the shape of the oil futures curve, which is massively backwardated (or inverted, if you prefer that terminology). Now, who’s...
China's Shadow Firm Challenges BHP's Iron Ore Pricing Power
A standoff with BHP shows how China is using a powerful but opaque entity to challenge the pricing clout of the world’s top iron ore producers https://t.co/HCF3mt12DC
Oil Analysts' Warnings Ignored Until Supply Shocks Hit
Oil experts are an interesting breed of people. They are sorta like gold bugs. For long periods they sit in a distant corner of the financial markets. We pass by their desks and they nod at us...
Gasoline Stays Cheap While Oil Shock Fuels Politics
In any oil shock, the most politically charged part of the barrel is gasoline. Ironically in this crisis, gasoline is the least affected. (That doesn’t reduce the economic impact of sky high oil prices via diesel, jet fuel and fuel oil....
Trump's 25% Metal Tariff Reshapes Supply
Trump’s new metal tariff policy applies a 25pc flat rate on many derivative imports and reshapes downstream costs. https://www.metalnomist.com/2026/04/trump-metal-tariff-policy-reshapes.html
Copper Turns Macro Hedge, Volatility Outpaces Fundamentals
Copper is increasingly trading like a macro hedge, raising volatility far beyond what near-term fundamentals imply. https://www.metalnomist.com/2026/04/copper-as-macro-hedge-is-rewriting.html
Glencore's 2025 Copper, Nickel Output Drops Amid Disruptions
Glencore’s 2025 copper and nickel output fell as lower grades, mine sequencing, and operational disruptions hit key assets. https://www.metalnomist.com/2026/04/glencore-copper-and-nickel-output.html
India’s First Iranian Oil Shipment Rerouted to China
🇮🇳While the media highlighted India's first Iranian oil shipment in recent years, Kpler tracking now shows the vessel has been redirected to China. Will get an update tomorrow. Map form @Kpler
Record Hormuz Outflow: 4 Million Barrels, War‑Era Peak
Everything suggests that at least ~4 million barrels of crude exited the Strait of Hormuz today. Largest outflow since the 1st day of the Third Gulf War. (... And yes, that's a fraction of the 20 million barrels a day...
US Hits Record Petroleum, Naphtha, LNG Exports Post‑Hormuz
Most recent interview.... Note: New record highs for the US after the closure of Hormuz: 🎯Export of petroleum products 🎯Exports of Naphtha 🎯Exports of LNG
Oil Prices Surge, Other Energy Markets Remain Flat
Third Gulf War — energy impact (week-on-week; Fri-to-Thu because Easter): Dated Brent oil: ⏫ +17.5% (note physical, not futures) WTI crude oil: ⏫ +12.2% Newcastle coal: ↔️ +1.5% EU nat gas TTF ⏬ -7.6% German power:...
Geopolitics Drive Record US Oil Exports and Price Surge
🎯 Following the Hormuz Crisis, U.S. exports of petroleum products surged to a record high last month as Europe suffers for high diesel and jet fuel prices, while Venezuela’s crude oil exports reached their highest level in six years. 🎯Following Trump's...
