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Market Chatter: Citadel Considers Expansion Into US Oil Production

Citadel is weighing a move into US oil production assets as it looks to broaden its presence in physical commodities, Reuters reported Friday, citing five people familiar with the talks.Citadel also bid for WildFire Energy earlier this year after Warburg Pincus and Kayne Anderson put it up for sale; Magnolia Oil & Gas (MGY) won the auction with a $4.06 billion offer. The bid was among a handful of recent engagements Citadel had with private equity firms over oil-focused assets, according to the report.A deal like that would give Citadel producing assets and an established management team to oversee them and future purchases, the report said. Citadel and WildFire did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $26.74, Change: $-0.48, Percent Change: -1.75%

$MGY

Commodities1d ago

UK Reportedly Close to Approving Jackdaw Field; Rosebank Decision to Come Later

The UK government is expected to grant approval to the Jackdaw gas field in the North Sea this month, and may greenlight the Rosebank oil field later this year, media outlets reported Friday, citing sources.Energy Secretary Miatta Fahnbulleh is set to give her go-ahead to the Jackdaw field in Aberdeen as soon as next week, while a formal approval could follow a week later, The Guardian reported.The gas field could start production as early as this winter if the approval is given as expected, the Financial Times said, although this could be opposed by climate and environmental groups.The Rosebank project, which is still under environmental assessment, may also gather opposition if approved. A decision on the UK's largest undeveloped oil field is likely to be given later this year, sources told The Guardian.Environmental campaigners cited by the news agency said operating the fields could produce as much as 336 billion British pounds ($453.94 billion) in carbon pollution damages.Adura, a joint venture between Shell (SHEL) and Equinor (EQNR), is the developer of the Jackdaw and Rosebank fields. It received development consent for the projects in 2022 and 2023, respectively, but had to reapply for authorization following a 2025 court ruling favoring climate activists.The UK's energy department did not immediately respond to' request for comment.Price: $92.54, Change: $+0.21, Percent Change: +0.23%

$EQNR$SHEL

Commodities1d ago

US Natural Gas Update: Futures Edge Higher Amid Warm Temperatures, LNG Feedgas Momentum

US natural gas futures rallied on Friday amid forecasts of warm temperatures and growing LNG export feedgas momentum, which kept prices elevated.The front-month Henry Hub contract and the continuous contract both rose by 1.06% to $2.944 per million British thermal units. US natural gas futures were set to end the week up by 2.14%, according to data from TradingEconomics.Hot weather across the Midwest supported prices, with the National Weather Service issuing an Extreme Heat Warning for Chicago and other parts of the region.The heat is expected to persist more broadly, with above-normal temperatures forecasted across nearly the entire country from September 11 through September 17.Meanwhile, LNG export feedgas demand continued to pick up pace, at 18.3 billion cubic feet per day in early September, compared to 17.2 bcf/d in August, as major export facilities returned to full operations after entering scheduled maintenance in recent months, according to TradingEconomics.The US Energy Information Administration released its weekly gas storage report for the week ended August 28 on Thursday, reporting a net injection of 30 Bcf of working gas into storage, bringing total inventories to 3,214 Bcf.The net build was in line with forecasts at 30 Bcf, but came in below last year's 54 Bcf net injection and the five-year average for this period at 37 Bcf, according to data compiled by Investing.com.Pinebrook Energy Advisors attributed this to persistent heat, which had "slowed storage growth and narrowed the surplus," and expected continued higher temperatures to keep upcoming storage injections relatively small.

Mining & Metals1d ago

QuantumCore Gets Depository Trust Company Eligibility in the US

QuantumCore's (QNCR.CN) shares have received Depository Trust Company eligibility for electronic clearing and settlement in the United States, it said Friday.The company expects the DTC eligibility to simplify the process of trading and enhance liquidity of its shares in the US, QuantumCore added."DTC eligibility removes barriers for U.S. investors, improves access to our shares and supports the next stage of our growth as we continue expanding our quantum infrastructure technology portfolio," said Chief Executive Officer Eugene Profis.Shares of the company were last seen up CA$0.05 at CA$3.25 on the Canadian Securities Exchange.Price: $3.25, Change: $+0.05, Percent Change: +1.56%

$QNCR.CN

Wire1d ago

Market Chatter: Morgan Stanley Advises Advanced Protection Systems on Potential Sale

Morgan Stanley (MS) has been appointed to advise Polish anti-drone company Advanced Protection Systems on strategic options that could include a potential sale, Bloomberg reported Friday, citing people familiar with the matter.According to the report, the investment bank has begun contacting potential interested parties. Discussions remain at an early stage, with no guarantee that a transaction will take place, Bloomberg said.APS said it regularly reviews strategic options, including bringing in an investor, pursuing an IPO, forming strategic partnerships or a potential sale, Bloomberg added.Morgan Stanley did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $215.81, Change: $-1.35, Percent Change: -0.62%

$MS

International1d ago

Canada Commodities: Oil And Gold Prices Drop on Middle East Hostilities, US August Jobs Report

Oil prices continued to fluctuate Friday morning as fighting between the US and Iran continued.West Texas Intermediate October crude oil futures, the US benchmark, fell 1.8% to $89.68 per barrel. November Brent oil futures, the international benchmark, was also lower, falling 1.6% to $94.06 a barrel.Comex gold December futures fell 1.7% to $4,461.30 per ounce.US nonfarm payrolls jumped 162,000 in August, following a 21,000 increase in July, the strongest pace of job expansion in five months. "A strong print would reinforce the case for tightening at the next meeting," TD Economics' director and senior economist Thomas Feltmate wrote in a note.In agricultural commodities, December wheat futures fell 1.2% to $7.45 per bushel, while canola futures for November edged down 0.9% to C$821.20 per tonne.

$CXY

Wire1d ago

Market Chatter: Abu Dhabi AI Firm G42 Held Talks to Sell Majority Stake to US Companies

Abu Dhabi's AI firm G42 has held talks over potentially selling a majority stake to US companies, in a bid to secure access to advanced AI chips beyond 2027, Bloomberg reported Friday, quoting unnamed sources familiar with the matter.G42 will be able to buy AI chips without a US license until around April 2027, but it will need to modify its corporate structure to keep buying those chips, Bloomberg reported, adding proposals being considered include selling a majority stake to a US firm or establishing a new vehicle in the US.The report said G42 already counts US companies like Microsoft (MSFT) as investors, alongside Abu Dhabi wealth fund Mubadala Investment.Microsoft said in a blog post in April 2024 that it was investing $1.5 billion in G42 in return for a minority stake and that Vice Chair and President Brad Smith was joining G42's board.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $504.23, Change: $-5.89, Percent Change: -1.15%

$MSFT

Wire1d ago

UBS Adjusts Price Target on Six Flags Entertainment to $27 From $30, Maintains Buy Rating

Six Flags Entertainment (FUN) has an average rating of overweight and mean price target of $21.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $15.28, Change: $+0.25, Percent Change: +1.66%

$FUN

Wire1d ago

Market Chatter: Magnolia Oil & Gas Outbid Citadel for WildFire Acquisition

Magnolia Oil & Gas (MGY) had outbid hedge fund Citadel in its acquisition of oil and gas company WildFire Energy in July, Reuters reported Friday.The bid for WildFire reveals a strategy by Citadel to acquire US oil production assets as part of an expansion of its physical asset holdings, the report said, citing five people familiar with the matter.Citadel declined to comment when asked by, while Magnolia Oil & Gas and WildFire didn't immediately respond to requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $26.79, Change: $-0.43, Percent Change: -1.58%

$MGY

Mining & Metals1d ago

Miivo Holdings Says Audit Confirmed Effectiveness of Security Controls

Miivo Holdings (MIVO.V) has renewed its SOC 2 Type II certification after an independent audit confirmed that the company's security controls remained effective.The SOC 2 Type II certification assures that Miivo's safeguards for protecting customer information operated effectively during a defined period, the AI-powered solutions provider said Friday.

$MIVO.V

Wire1d ago

Update: ByteDance Reportedly Secures $29.6 Billion Loan for AI Financing

(Updates with Citigroup declining to comment in the last paragraph)ByteDance has received a $29.6 billion loan to build its artificial intelligence capabilities, with financing coordinated by JPMorgan Chase (JPM) and Citigroup (C), media outlets recently reported, citing people familiar with the matter.The company was initially seeking a $20 billion facility, but raised the amount after receiving strong commitments from banks, Bloomberg reported Wednesday evening.The loan is Asia's second-largest borrowing this year, the reports added.JPMorgan and Citigroup declined to comment, while ByteDance did not immediately respond to' request for comment on Friday.Price: $136.96, Change: $-1.20, Percent Change: -0.87%

$C$JPM

Wire1d ago

SoundHound AI Completes LivePerson Acquisition; Names John Collins Finance Chief

SoundHound AI (SOUN) said Friday it has completed its acquisition of LivePerson (LPSN) and appointed John Collins as chief financial officer of the combined company.Collins has previously served as founder, CFO, COO and interim CEO at LivePerson.The acquisition combined LivePerson's enterprise digital messaging platform with SoundHound's voice agentic AI technology.SoundHound said the combined company is targeting more than $500 million in future revenue from its existing customer base.Price: $6.66, Change: $-0.08, Percent Change: -1.19%

$LPSN$SOUN

Wire1d ago

Update: Bilibili Prices $700 Million Convertible Senior Notes Offering

(Updates with pricing in headline and first paragraph, and adds repurchase details in later paragraphs.)Bilibili (BILI) has priced a $700 million offering of convertible senior notes due 2031 to non-U.S. qualified institutional buyers, the company said Friday.Tencent Holdings has agreed to subscribe for $200 million of the notes through a subsidiary, Bilibili said. The Tencent subscription and Bilibili's planned repurchase of Tencent-held shares are subject to conditions, including shareholder approval.Proceeds will be used to fund planned concurrent share repurchases, artificial intelligence growth, and general corporate purposes, the company said. The board authorized a separate special repurchase program of up to $300 million for the concurrent repurchases.Bilibili also priced a concurrent equity placement of about 7.0 million Class Z ordinary shares at 115.38 Hong Kong dollars ($14.85) each, while Tencent sold about 26.4 million Class Z shares at the same price.Price: $15.85, Change: $+0.35, Percent Change: +2.26%

$BILI

Wire1d ago

Update: BlackRock Private Credit Fund Appoints Jason Mehring as CEO, Chair

(Updates to include BlackRock TCP Capital's ticker in the first paragraph and BlackRock stock move in the last.)Jason Mehring was appointed as chief executive and chair of BlackRock (BLK) Private Credit Fund, BlackRock Direct Lending and BlackRock TCP Capital (TCPC), starting Sept. 2, following the resignation of Philip Tseng from the posts on Aug. 31, according to a regulatory filing Friday.Mehring previously served as president of the direct lending division and TCP Capital, according to the filing.In addition, Dan Worrell was appointed as president of the private credit fund after previously serving as co-chief investment officer, the filing said.Shares of BlackRock were down more than 1% in early Friday trading.Price: $1113.00, Change: $-13.25, Percent Change: -1.18%

$BLK$TCPC

Equities1d ago

Union Jack Oil's New Board to Reevaluate Reabold Resources' Takeover Offer

Union Jack Oil's (UJO.L) newly appointed board started a detailed review of the company's position and alternatives with respect to Reabold Resources' (RBD.L) all-share offer for the company, according to a Friday filing.The review, which also covers Union Jack's assets, liabilities, and strategic and financial position, follows the oil and gas company's requisitioned general meeting on Aug. 24, where shareholders voted to replace certain board members. The new board expects to release its view and independent financial advice during the week of Sept. 7.In July, Union Jack said its old board had agreed to oil and gas-focused investor Reabold's offer of 0.051 new Reabold share for every Union Jack share held, valuing the target's share capital at 6.1 million pounds sterling on a fully diluted basis.

$RBD.L$UJO.L

Wire1d ago

BofA Securities Adjusts Price Target on Lululemon Athletica to $122 From $140, Maintains Neutral Rating

Lululemon Athletica (LULU) has an average rating of hold and mean price target of $106.74, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $101.45, Change: $-20.32, Percent Change: -16.69%

$LULU

Oil & Energy1d ago

US Oil Update: Oil benchmarks Ease from Over 1-Month High

Crude prices eased from a more than one-month peak on Friday as profit-taking kicked in while focus shifts to the upcoming OPEC+ ministerial meeting on Sunday.Both contracts hit their highest in more than a month on Thursday.Front-month West Texas Intermediate futures were down 1.5% to $90.09 per barrel, while Brent futures declined 1% to $94.48/bbl, with both benchmarks headed for weekly gains.Market participants are increasingly concerned that the recent recovery in oil transit through the Strait of Hormuz could reverse.Commercial vessel traffic through the critical chokepoint remained subdued following a confirmed attack on a Saudi oil tanker during the preceding 48-hour reporting period by the UK Maritime Trade Operations.ANZ analysts warned that while the market had largely priced in a peak in conflict disruptions, an extended crisis will keep flows constrained and threaten to extinguish recent upward price momentum.Meanwhile, ahead of the upcoming OPEC+ ministerial gathering, Saudi Aramco announced it will hold its October official selling price for flagship Arab Light crude to Asia flat at a $2 per barrel discount to the Oman/Dubai average.While Arab Light pricing remained unchanged, October OSPs for Arab Medium and Arab Heavy destined for Asia were each raised by $1 a barrel, whereas pricing for Northwest Europe and the Mediterranean was left untouched.Tit-for-tat military exchanges escalated on the geopolitical front after reports indicated Iranian strikes targeted US bases in Kuwait and the UAE, prompting defensive interceptions by Kuwaiti authorities.

Mining & Metals1d ago

Urbana to Renew Normal Course Issuer Bid

Urbana (URB.TO) reported the Toronto Stock Exchange's acceptance of its plan to renew its normal course issuer bid.Under the bid, Urbana can purchase up to about 3.1 million of its non-voting class A shares, or 10% of its public float, from Sept. 9, 2026, to Sept. 8, 2027, or earlier.Price: $9.12, Change: $-0.07, Percent Change: -0.76%

$URB.TO

Oil & Energy1d ago

EMEA Natural Gas Update: Futures Slide Despite Lingering Middle East, Hormuz Uncertainties

European natural gas futures edged lower on Friday despite lingering uncertainties in the Middle East and the strategically crucial Strait of Hormuz.Front-month Dutch TTF futures fell 1.25% to 70.915 euros ($82.34) per megawatt-hour, while UK NBP futures declined 0.97% to 176.270 British pence ($2.38) per therm. Both Dutch TTF and UK Gas were set to end the week up by 6.24% and 7.19%, respectively, according to TradingEconomics.On Thursday, US Vice President JD Vance declined to offer a prospective timeline for ending the conflict between the US and Iran, which has been raging for over seven months.Vance said that all options were still on the table against Iran, even as he ruled out talks with the country until Tehran stops attacks against commercial shipping along the Hormuz, according to a report by Al Jazeera.Meanwhile, Iran's First Vice President Mohammad Reza Aref has warned that the country's response to US attacks will be "asymmetrical" and "multi-layered" going forward.Traffic along the Strait of Hormuz, which accounted for one-fifth of global LNG flows, dipped to just 9 total transits on Thursday, according to data from ShipFinder.Daniel Hynes, a senior commodity strategist at ANZ, noted that Qatar, the largest LNG exporter in the world, hadn't sent an LNG tanker through the strait since July, when one of its ships was hit by an Iranian missile, leading its Asian customers to look elsewhere for supplies.This comes at a time when Europe continues to struggle with low inventories at 65.85% of capacity, compared to 78.29% during the corresponding period a year ago, according to Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 82.5%, according to the Swiss Federal Office of Energy.However, the European Union's Gas Coordination Group noted on Thursday that there was "no immediate risk" to the region's gas supply security, even as it acknowledged that the situation remained "exceptional" and warranted "close monitoring."Weather forecasts have also offered much-needed respite for the region, with a severe El Nino effect expected to result in a relatively mild winter across much of Europe, with less snow than normal across most lowland and mid-elevation areas, according to a report by Severe-Weather EU.This is expected to ease demand for heating gas during the oncoming Winter, which remains constrained due to the ongoing conflict in the Middle East.

Oil & Energy1d ago

EMEA Oil Update: Crude Mixed Ahead of OPEC+ Sunday Meeting

(We now track Dubai First Line (Platts) energy futures as Adnoc phases out Murban.)Crude benchmarks were mixed on Friday as military exchanges in the Persian Gulf threatened a fragile recovery in shipping traffic through the Strait of Hormuz ahead of Sunday's OPEC+ ministerial meeting.Brent crude futures fell 0.9% at $94.63 per barrel, while Dubai First Line Futures (Platts) were steady at $84.11/bbl, with both benchmarks headed for a weekly gain."Oil prices are still holding most of their recent gains, but those could prove fragile. If Strait of Hormuz flows continue uninterrupted despite the latest escalation, the upward pressure on prices may begin to fade," ING analysts said.On the geopolitical front, Iran's military reportedly stated it targeted US bases in Kuwait and the UAE, prompting Kuwaiti authorities to report responses to incoming missile and drone threats."The tit-for-tat exchange of strikes is raising concerns of a reversal of the recent recovery in oil flowing through the Strait of Hormuz," ANZ analysts said.Commercial vessel traffic through the Strait of Hormuz was subdued on Thursday amid continued disruption at one of the world's key energy chokepoints.UK Maritime Trade Operations reported one confirmed attack during the 48-hour reporting period, involving a Saudi oil tanker."The oil market has been operating under the assumption that the impact of the conflict on oil flows has peaked and that a peace deal would eventually see exports back to normal before the year's end. The prospect of an extended conflict will keep the oil flow constrained for the foreseeable future," ANZ analysts added.Meanwhile, Saudi Aramco kept its October official selling price for flagship Arab Light crude unchanged at a $2 per barrel discount to the Oman/Dubai average.

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Oil & Energy1d ago