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On August 24th, according to foreign media reports, ExxonMobil stated in a statement that a fire in the laundry room of a floating vessel off the coast of Guyana forced the company to temporarily suspend operations at the facility. The statement said the fire on the Liza Unity floating production storage and offloading (FPSO) unit was quickly extinguished. An ExxonMobil Guyana spokesperson said that crude oil unloading operations were affected due to the temporary shutdown. The Liza oil field is key to Guyanas transformation into a major crude oil producer, and the Liza Unity FPSO is responsible for producing approximately 250,000 barrels of crude oil per day of the more than 900,000 barrels per day in the Stabrok block.According to Al Jazeera: Israeli airstrikes near a hospital in Gaza have injured several people.1. Hugging Face reportedly attracts at least $13 billion in acquisition interest. 2. The second World Humanoid Robot Games will hold multiple events. 3. Nvidia reportedly notified customers of a price increase of over 15% for AI-related products. 4. Alibaba plans to place HK$80 billion in new shares, with all proceeds going towards AI. 5. The Change 7 mission does not meet launch requirements and cannot be carried out within the scheduled launch window this year. 6. Trump: Communities that refuse to plan and build data centers are making a mistake. On August 24th, according to Axios, US President Trump defended the expansion of data centers in an interview broadcast on Sunday. He stated that data centers do not draw power from the grid. Trump said, "People are building their own power plants, the most beautiful power plants youve ever seen." He added, "Communities that arent building data centers are making a mistake," because data centers create "a lot of jobs and economic benefits." His remarks came as the Texas governor stated that data center companies are "digging their own graves" and instructed state regulators to require data centers to fully bear the construction costs of their required power infrastructure; meanwhile, the Pennsylvania governor introduced related restrictions, and the New York governor ordered a one-year halt to the construction of hyperscale data centers. Meanwhile, the Trump administration has taken steps to relax some environmental requirements for data centers while urging technology companies to bear more of the electricity costs associated with artificial intelligence construction.According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) continued to rise in the week ending August 21, 2026, with the benchmark December contract closing 0.9% higher. This reflected soaring crude oil prices, declining soybean oil inventories, and disruptions to Black Sea vegetable oil exports. However, Midwest surveys showed that soybean yield potential was higher than government expectations, unlocking oil-meal arbitrage opportunities and limiting the upside potential of the soybean oil market. International crude oil prices surged, reaching their highest closing price in a month, due to US President Trumps threat to impose economic sanctions on Irans trading partners, raising market expectations of tighter supplies in the coming weeks. Stronger crude oil prices typically boost demand for biofuels, and soybean oil is a key raw material for biofuel production. Meanwhile, the escalating conflict between Russia and Ukraine disrupted exports from Black Sea ports, interrupting sunflower oil exports from the region and forcing buyers to turn to other edible oils such as soybean oil, also supporting the Chicago soybean oil market.

Copper Is Bullish As Gold Hovers Around $1,880 Before U.S. CPI News

Skylar Williams

Jan 12, 2023 11:23

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On Thursday, gold prices hovered near an eight-month high as markets prepared for U.S. inflation data expected to fall further, while copper prices rose to a seven-month high due to rising optimism about China.


The U.S. consumer price index inflation numbers released later in the day are expected to show that inflation declined more in December than in November, requiring the Federal Reserve to take fewer hawkish actions after a rapid interest rate increase through 2022.


As high interest rates on non-yielding assets ease, bullion prices should rise. Lower inflation may force the Fed to suspend rate hikes, according to markets.


At 19:06 E.T., spot gold was constant at $1,876.41, while gold futures were muted at $1,879.50. (00:06 GMT). After a strong start, both assets traded at eight-month highs.


Gold prices rose due to fears of a recession and bets that the currency had peaked.


Gold has risen since 2022, but U.S. interest rates are at their highest since the 2008 financial crisis. This and the volatility of U.S. interest rate peaks will limit gold's near-term price appreciation.


December inflation is expected to drop but remain over the Fed's yearly target. Fed policymakers worry that interest rates may stay high for a long time, pressuring metal prices.


On Thursday, industrial metals like copper fell below their mid-June highs. Due to confidence about China's economic revival, the red metal has risen almost 10% this year.


Early Asian copper prices fell 0.1% to $4.1730 per pound. As Peru, the second-largest copper producer in the world, confronts greater political instability, the metal is expected to benefit from tighter supply.


China, the world's largest copper importer, reopened its borders this week after three years. COVID-19 instances have skyrocketed, clouding the nation's economic outlook.

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