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US Oil Update: Crude Rises Over $100 as Trump Orders Naval Blockade of Iranian Ports

Global energy markets jumped above $100 per barrel on Monday as the US Navy began blockading Iranian ports following failed negotiations in Pakistan.The Brent futures contract gained about 7% to $101.92 per barrel. The front-month West Texas Intermediate crude contract surged 7.4% at $103.68 per barrel."Oil markets rallied sharply on Monday after US-Iran talks collapsed over the weekend," ING analysts said.Traders are bracing for long-term disruptions in the world's most vital energy artery as geopolitical tensions reach a breaking point.The blockade, coming on the heels of failed peace talks, has intensified concerns that a vital global energy artery could remain choked for the foreseeable future."In response, the US military plans to implement a blockade of all maritime traffic entering and exiting Iranian ports from 10:00am Monday Washington time, while allowing vessels not calling at Iranian ports to continue transiting Hormuz," ING said.After 21 hours of marathon talks between Vice President JD Vance and Iranian officials, the sides failed to reach a deal regarding Iran's nuclear program and regional conflicts.President Trump acknowledged the domestic impact on Sunday, noting that gasoline and oil prices are likely to remain elevated through the November midterm elections.Iranian officials have warned that they maintain full control of the waterway, raising the specter of direct naval confrontations.

Wire66d ago

GoPro Collaborates With Marsh's Oliver Wyman to Explore Defense, Aerospace Opportunities

GoPro (GPRO) said Monday that it is collaborating with Marsh's (MRSH) Oliver Wyman business to explore opportunities in the defense and aerospace sectors.The project will focus on evaluating addressable segments, product and technology synergies, and go-to-market strategies, GoPro said. Both companies will also work closely with defense, government, and aerospace stakeholders to ensure any services meet regulatory standards, GoPro added.Financial details of the collaboration were not provided.Shares of GoPro and Marsh rose 12% and 1.4%, respectively, in the session.Price: $0.86, Change: $+0.09, Percent Change: +12.02%

$GPRO$MRSH

Wire66d ago

Citigroup Adjusts International Flavors & Fragrances Price Target to $90 From $100, Maintains Buy Rating

International Flavors & Fragrances (IFF) has an average rating of overweight and mean price target of $90.69, 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://www..com/contact-us)Price: $70.97, Change: $-1.55, Percent Change: -2.14%

$IFF

Wire66d ago

Gordon Haskett Adjusts Price Target on Airbnb to $136 From $135, Maintains Hold Rating

Airbnb (ABNB) has an average rating of overweight and mean price target of $146.97, 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://www..com/contact-us)Price: $129.62, Change: $+0.66, Percent Change: +0.51%

$ABNB

Treasury66d ago

SocGen's EU Governments Weekly Bond Positioning Report

The weekly analysis of flows into eurozone government bonds shows that for the week ended last Friday, investors were net buyers of Germany's Bunds, Italy's BTPs, and Spain's SPGBs, and net sellers of France's OATs, said Societe Generale.-- Bunds saw net buying over the week, continuing the trend of the previous seven weeks and driven by both domestic and non-domestic investors. Domestic investors were net buyers, extending an 11-week buying streak, with activity concentrated in the 2-5y and 20y+ sectors, where asset managers and banks were the most active participants. Non-domestic investors were also net buyers for the eighth consecutive week, primarily in the 5-10y sector, led by banks and hedge funds.-- OATs experienced net selling, reversing the trend observed over the previous seven weeks and driven primarily by non-domestic investors. Domestic investors were net buyers for the 12th consecutive week, with activity concentrated in the 10-20y and 20y+ segments, led mainly by asset managers and insurers. Meanwhile, non-domestic investors turned net sellers after seven consecutive weeks of net buying, driven by banks and insurers, with activity focused mainly in the 10-20y and 20y+ maturities.-- BTPs saw net buying, reversing the selling trend from the previous week and driven by both domestic and non-domestic investors. Domestic investors were net buyers, extending the five-week buying trend, with activity concentrated mainly in the 5-10y segment and led by banks. Non-domestic investors also turned net buyers, reversing last week's selling trend, driven primarily by insurers and hedge funds in the 20y+ segment.-- SPGBs saw net buying, reversing the selling trend of the previous four weeks and driven by both domestic and non-domestic investors. Domestic investors were net buyers, extending the five-week buying trend, with activity concentrated in the 10-20y and 20y+ sectors and driven primarily by banks and insurers. Non-domestic investors also turned net buyers for the week, after being net sellers in the previous week, with activity focused mainly in the 20y+ and 10-20y categories and driven largely by insurers and banks.

$CXY

Oil & Energy66d ago

US Natural Gas Update: Futures Rise 2% Amid Fresh Escalation in the Middle East Conflict

US natural gas futures rose over 2% on Monday after peace talks between the US and Iran failed, prompting US President Donald Trump to announce a naval blockade against Tehran.The front-month Henry Hub natural gas contract, along with the continuous contract, traded up 2.04% to $2.70 per million British thermal units.In a Truth Social post on Sunday, Trump said that the US Navy would begin the blockade against Iran by preventing vessels from entering or leaving Iranian ports.On Sunday, the US Central Command, in a post on X, said it will begin the blockade on Monday at 10 AM ET, noting that it will not impede freedom of navigation for other vessels transiting through the Strait "to and from non-Iranian ports."All of these developments have created new uncertainties for global energy markets, including US natural gas and LNG exports.On the domestic front, total natural gas production was flat last week, averaging 107.3 billion cubic feet per day, while imports from Canada declined 6.0 Bcf per day to 5.0 Bcf per day, according to NRG Energy.Natural gas demand declined sharply, from 90 Bcf per day to 75 Bcf per day over the past week, owing to warmer temperatures across the country.Weather forecasts continued to remain bearish, with most parts of the country expected to experience above-normal temperatures from April 20 to April 26, according to the National Weather Service, which further weighs on domestic natural gas demand.

Wire66d ago

Citigroup Adjusts Ecolab Price Target to $330 From $345, Maintains Buy Rating

Ecolab (ECL) has an average rating of overweight and mean price target of $320.25, 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://www..com/contact-us)Price: $270.88, Change: $-2.42, Percent Change: -0.88%

$ECL

Wire66d ago

Citigroup Adjusts Las Vegas Sands Price Target to $78.50 From $76.75, Maintains Buy Rating

Las Vegas Sands (LVS) has an average rating of overweight and mean price target of $70.09, 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://www..com/contact-us)Price: $54.03, Change: $+0.58, Percent Change: +1.09%

$LVS

Wire66d ago

Jefferies Trims Price Target on Masco to $73 From $74, Maintains Hold Rating

Masco (MAS) has an average rating of overweight and mean price target of $78.17, 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://www..com/contact-us)Price: $62.49, Change: $-0.48, Percent Change: -0.76%

$MAS

Wire66d ago

Jefferies Adjusts Price Target on Domino's Pizza to $400 From $450, Maintains Hold Rating

Domino's Pizza (DPZ) has an average rating of overweight and mean price target of $475.97, 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://www..com/contact-us)Price: $362.55, Change: $-3.40, Percent Change: -0.93%

$DPZ

Oil & Energy66d ago

EMEA Oil Update: Crude Surges on Trump's Hormuz Blockade Order

Oil prices surged 7% on Monday as global markets reacted to President Trump's order for a naval blockade on Iranian cargoes in the Strait of Hormuz, sparking fears of a long-term supply crunch.The Brent futures contract gained about 7.4% to $102.22 per barrel. The front-month Murban crude contract surged 6% at $104.04 per barrel."This morning, the Brent June contract is up 7.4% again to $102.2/b as the negotiations this weekend yielded no results, while the US has also announced a blockade of the Strait of Hormuz. Now clarified to affect only Iranian cargoes," SEB analysts noted.The primary driver for the price surge is the total collapse of high-level negotiations in Islamabad, Pakistan.After 21 hours of marathon talks between Vice President JD Vance and Iranian officials, the sides failed to reach a deal regarding Iran's nuclear program and regional conflicts.In response, President Donald Trump announced a significant escalation via social media.The US Navy has been instructed to interdict any ships attempting to enter or leave the Strait of Hormuz that are carrying Iranian cargoes.US forces will begin destroying naval mines allegedly laid by Iran in the shipping lanes.It also includes seeking out vessels in international waters that have paid transit "tolls" to Iran, which the US has labeled illegal.President Trump acknowledged the domestic impact on Sunday, noting that gasoline and oil prices are likely to remain elevated through the November midterm elections.Iranian officials have warned that they maintain full control of the waterway, raising the specter of direct naval confrontations.

Mining & Metals66d ago

Bullion Gold Resources Appoints Simon Britt As President And Chief Executive Officer

Bullion Gold Resources (BGD.V) Monday announced the appointment of Simon Britt as president and chief executive officer, effective immediately.The company said that Britt succeeds Guy Morissette, who has chosen to step down from the day-to-day management and administration of the company as part of a planned transition with the board of directors.The company also said that Morissette will "remain active" within Bullion as a strategic advisor and member of the Technical Committee.The company further said that Britt is a "seasoned executive" with over 25 years of experience in finance, capital markets, and project development in the natural resources and energy sectors.It added that, prior to joining Bullion, Britt held senior management positions with public and private mining companies and served as a strategic advisor to Indigenous organizations and companies in the mining and energy sectors."I thank Guy for his dedication and expertise in contributing to and developing Bullion's various mining projects," said Gilles Laverdiere, Chairman of the Board. "Simon's arrival marks a significant milestone for the Company. His strong financing expertise, strategic discipline, and ability to create value in complex environments will be major assets in accelerating the development of our projects."The company's shares were last seen unchanged at $0.10 on the TSX Venture Exchange.

$BGD.V

Wire66d ago

Market Chatter: JPMorgan Chase, Morgan Stanley Working on Leo Pharma's Potential IPO in Denmark

JPMorgan Chase (JPM), Morgan Stanley (MS), and Danske Bank are working on Leo Pharma's potential initial public offering in Denmark, Bloomberg reported Monday, citing sources familiar with the matter.Sources told Bloomberg that the IPO could happen this year and Leo Pharma could hire more banks for the sale. Plans remain subject to change as no final decision has been made, according to the report.Bloomberg said Leo Pharma was valued at about 3 billion euros ($3.51 billion), including debt, in 2021.JPMorgan Chase, Morgan Stanley, Danske Bank, and Leo Pharma did not immediately respond to' requests for comments.(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: $307.98, Change: $-1.89, Percent Change: -0.61%

$JPM$MS

Wire66d ago

Market Chatter: Dutch Regulator to Seek Approval for Tesla's Full-Self Driving System in EU

Dutch vehicle regulator RDW has notified the European Commission of its intention to seek approval for Tesla's (TSLA) Full-Self Driving system across the European Union, Reuters reported Monday, citing a statement from Bernd van Nieuwenhoven, general manager of type approvals at RDW.Tesla and the RDW did not immediately respond to requests for comment from.(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: $351.11, Change: $+2.11, Percent Change: +0.61%

$TSLA

Wire66d ago

Citigroup Adjusts Sandisk Price Target to $980 From $875, Maintains Buy Rating

Sandisk Corporation (SNDK) has an average rating of overweight and mean price target of $872.30, 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://www..com/contact-us)Price: $903.31, Change: $+51.54, Percent Change: +6.05%

$SNDK

Wire66d ago

Wedbush Adjusts Price Target on IDEAYA Biosciences to $58 From $52, Maintains Outperform Rating

IDEAYA Biosciences (IDYA) has an average rating of buy and mean price target of $50.38, 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://www..com/contact-us)Price: $36.59, Change: $+6.09, Percent Change: +19.97%

$IDYA

Wire66d ago

Jefferies Adjusts Price Target on RTX to $210 From $225, Maintains Hold Rating

RTX (RTX) has an average rating of overweight and mean price target of $219, 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://www..com/contact-us)Price: $201.92, Change: $+0.35, Percent Change: +0.18%

$RTX

Mining & Metals66d ago

RZOLV Technologies Partners With EMEW Clean Technologies To Advance Integrated Recovery Of Precious And Critical Metals

RZOLV Technologies (RZL.V) announced Monday a strategic partnership with EMEW Clean Technologies Pty Ltd. to jointly pursue the development and commercialization of integrated process solutions for the extraction and recovery of precious and critical metals from primary and secondary concentrates."This partnership brings together RZOLV's upstream non-cyanide extraction chemistry and EMEW's downstream high-purity metal recovery systems to create an integrated platform for higher-value, cleaner recovery of precious and critical metals from difficult primary and secondary feedstocks," said the company in a statement.The company said EMEW provides a global base of clients and marketing channels to accelerate this initiative, with offices and facilities in Australia, Canada, India, Ireland, Dubai, and Mexico. Based on the terms of the March 30 agreement, the companies expect the partnership to focus initially on evaluating opportunities in precious-metal concentrates, mining solutions, tailings reprocessing and select secondary feedstocks, including recycling streams where RZOLV's extraction capabilities and EMEW's metal-recovery technologies "may be particularly complementary."Shares of the company were last seen down 2% at $0.48 on the TSX Venture Exchange.

$RZL.V

Wire66d ago

Voyager Technologies Doubles Satellite Propulsion Production Capacity

Voyager Technologies (VOYG) said Monday it has doubled production capacity at its Denver-area facility from a year earlier to meet growing demand for commercial and national security satellite constellations.The company is now scaling production further to quadruple capacity from year-ago levels, according to a statement.Each satellite propulsion module is capable of precise orbital maneuvering, threat avoidance and sustained mission effectiveness, the company said.Price: $29.97, Change: $+0.18, Percent Change: +0.62%

$VOYG

US Markets66d ago

GFL Environmental to Buy TSX-Listed Secure Waste for $4.62 Billion

GFL Environmental (GFL) agreed to acquire Secure Waste Infrastructure in a 6.4 billion-Canadian-dollar ($4.63 billion) deal that is expected to boost its waste management operations in Western Canada.GFL will buy the shares of Secure, which operates a waste management platform in Western Canada and North Dakota, at CA$24.75 per share, the companies said Monday. The purchase represents a 23% premium to Secure's average price for 60 trading days through Friday.GFL will pay 20% of the consideration in cash and the remaining in subordinate voting shares.The transaction, which requires Secure shareholders' consent as well as court and regulatory approvals, is anticipated to complete in the second half of this year, according to the joint statement."The acquisition of Secure will provide us with a highly complementary network of permitted waste processing and disposal assets that will densify our footprint in Western Canada, significantly enhance our scale and expand our ability to offer customers a full suite of waste management services," GFL Chief Executive Patrick Dovigi said.Secure's shareholders are expected to own 16% of the combined company, Secure Chairman Mick Dilger said.The company's stock will be delisted from the Toronto Stock Exchange upon completion of the transaction, according to the joint statement. The deal is expected to be immediately accretive to GFL's adjusted free cash flow per share by 12% to 15%, Dovigi said."The transaction increases GFL's float weighted market capitalization which provides greater liquidity and enhances potential for broader future equity index inclusion," Dovigi said.Shares of GFL were down 6.5% in Monday trade."The transaction will combine Secure's hard to replicate infrastructure network with GFL's broader platform, strengthening GFL's ability to capture more waste streams across the value chain," Secure CEO Allen Gransch said.Price: $40.03, Change: $-3.03, Percent Change: -7.04%

$GFL

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Treasury66d ago

SocGen's EU Governments Weekly Bond Positioning Report

$CXY