Latest news with #ExxonMobil
Forbes
4 hours ago
- Business
- Forbes
Hormuz On A Knife‑Edge: Qatar's LNG Warning Sends Insurance And Freight Costs Exploding
Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press ... More conference in Doha on September 1, 2024. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images) Fresh alarm. In a 20 June Reuters exclusive, Doha confirmed that it hauled ExxonMobil, Shell and TotalEnergies into a closed-door meeting two days earlier, warning that one stray missile in the Strait of Hormuz could instantly wipe out one-fifth of global LNG supply. Asian spot prices obeyed the signal—jumping 11 percent to $14/mmBtu before London markets had fully digested the headline. One narrow waterway still moves the world. Hormuz pinches to 21 nautical miles at its choke and carries roughly 20 million barrels of oil—about one-fifth of global seaborne supply—plus a similar share of LNG every day. Close the channel and power stations from Houston to Hong Kong scramble for fuel while tanker queues lengthen by thousands of nautical miles. Chokepoint concentration. The International Energy Agency calculates that only about 6.5 million barrels a day can shift quickly to Fujairah, SUMED or inventories; the balance simply waits. Price-shock amplitude. Additional-war-risk premiums (AWRP) on very-large crude carriers have rocketed from 0.05 percent to 0.25 percent of hull value—roughly a US $225 000 surcharge on each $90 million ship—and forward Brent markets now build in triple-digit scenarios for any prolonged disruption. Policy bandwidth. True spare capacity inside OPEC clocks in near three million barrels a day and sits inside the same blast zone, leaving diplomacy—so far untested in open conflict—to carry most of the burden. Backup pipes replace only a sliver. Saudi Arabia's East-West line and the UAE's Habshan–Fujairah bypass together provide about 2.6 million barrels a day of spare capacity, barely one-eighth of normal Hormuz throughput. Even a coordinated drawdown of strategic storage could not keep two-thirds of Gulf exports moving if the strait closed for a week. Insurance costs shout before oil charts whisper. Since 13 June, tanker underwriters have priced the region as an active war zone. A five-fold jump in AWRP lands before a single barrel is lifted, signalling risk faster than futures curves can. For a refiner, those premiums flow straight into delivered crude costs within days. Freight rates leap in lock-step. Gulf-to-Asia VLCC rates hit $2.14 per barrel on 17 June—60 percent higher in just five days—and charterers now fix ships day-to-day rather than locking in multi-month contracts. The volatility premium migrates down the supply chain, raising break-even prices for refiners, airlines and petrochemicals alike. Qatar's tankers loiter outside the Gulf. QatarEnergy has instructed LNG carriers to remain east of Hormuz until the day before loading. AIS data confirm a multi-year low in Persian-Gulf-bound empty tankers—evidence of growing caution even as contractual volumes continue to flow. Spare capacity sits where missiles can reach it. RBC Capital Markets pegs genuine OPEC spare capacity at roughly three million barrels per day, nearly all within Hormuz's threat ring. Every new headline—whether a cease-fire whisper or another drone strike—moves Brent and insurance quotes long before drilling rigs or pipelines can respond. Economic ripples extend well beyond crude. Higher tanker premiums bleed into LNG freight, lifting electricity costs that keep AI data centres humming. European refiners, already paying roughly €70 per tonne of CO₂, see margins flip negative once reroute costs stack up; Asian importers instead burn through stockpiles that last weeks, not months. Insurance leverage unseen since the late 1980s now shows up in airline ticket prices and industrial power bills. Numbers translate geopolitics into P&L. U.S. energy-agency models suggest each $10 oil shock trims about one-tenth of a percentage point from U.S. GDP. BloombergNEF freight curves add another $1.60 per barrel for a Cape of Good Hope detour plus $0.80 in bunker fuel. War-risk elasticity studies show that 70 percent of an insurance premium embeds into headline freight within a fortnight—effectively turning geopolitical anxiety into everyday costs at the pump. Strategic takeaway remains uncomplicated. Boards cannot micromanage every contingency, but they can widen risk limits, diversify shipping lanes and co-fund a GCC–EU 'Hormuz Alternative Route Task-Force.' The planning bill is trivial next to today's $225 000 voyage surcharge. In the absence of bold collective action, every forward-freight contract will continue to price a toll for geopolitical complacency. Better to pre-empt that charge than pay it in arrears.
Zawya
7 hours ago
- Business
- Zawya
Qatar holds talks with energy companies on risk of Israel-Iran conflict, sources say
Qatar held crisis talks this week with energy majors after Israeli strikes on Iran's huge gas field, which it shares with Qatar, an industry source and a diplomat in the region told Reuters. Saad Al Kaabi, CEO of state-owned QatarEnergy and the Gulf Arab state's energy minister urged companies to warn the U.S., British and European governments about the risks the conflict poses to gas exports from Qatar and the increasing threat to the global gas supply, they said. An interruption to Qatar's liquefied natural gas (LNG) operation could cut off around 20% of the global supply, which Doha exports from the world's largest gas reservoir. "QatarEnergy is making sure that foreign governments are fully aware of the implications and repercussions the situation and further escalation pose to gas production from Qatar,' said the diplomat, who spoke on the condition of anonymity because of the sensitivity of the situation. QatarEnergy did not immediately respond to a request for comment. Kaabi also met this week in Doha with ambassadors representing countries whose companies are involved in QatarEnergy's North Field expansion project, the diplomat said. U.S. majors ExxonMobil and ConocoPhillips, Britain's Shell, Italy's Eni and France's TotalEnergies all have stakes in the expansion, which is set to boost exports from Qatar by around 82% in the coming years. So far, there have been no disruptions to QatarEnergy's exports and cargo deliveries are on schedule. (Reporting by Andrew Mills and Marwa Rasahd Editing by Tomasz Janowski and Louise Heavens)
Globe and Mail
11 hours ago
- Business
- Globe and Mail
Chevron Is Following ExxonMobil by Entering the Lithium Sector
Oil giants Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) can read the writing on the wall: They can see that fossil fuels will eventually go extinct. That's leading these energy giants to invest in expanding into lower-carbon energy. One area both oil stocks are expanding into is lithium, a key ingredient for making batteries for electric vehicles (EVs). Exxon entered the sector in 2023 by acquiring land in Arkansas' Smackover Formation, which is rich in lithium brine. Chevron is now following in Exxon's footsteps by acquiring land in the region to produce lithium. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Drilling for lithium Chevron has signed two deals to buy leasehold acreage related to the Smackover Formation. It's buying 125,000 net acres across Northeast Texas and Southwest Arkansas from two sellers. The energy company noted that the Smackover Formation underneath this land has high lithium content. The land acquisitions mark Chevron's first step toward establishing a commercial-scale U.S. lithium business. The energy company would utilize a direct lithium extraction (DLE) process to develop the acreage. DLE is a set of advanced technologies that extract lithium from brines produced from subsurface formations like the Smackover. While Chevron doesn't have experience producing lithium, the DLE process would enable the company to leverage its subsurface, drilling, and resource extraction capabilities and strengths. That makes lithium production a strong strategic fit for oil companies like Chevron and Exxon. Following Exxon's blueprint Chevron's move into the Smackover follows Exxon's prior entry into the lithium supply sector. In 2023, the oil giant reportedly paid around $100 million for more than 120,000 total acres in Arkansas above the Smackover Formation. Exxon drilled its first well in the region that year and aims to begin commercially producing lithium by 2027. It set a bold goal of producing enough lithium by 2030 to supply the auto industry with the metal to meet the manufacturing needs of over 1 million EVs per year. That would make it one of the world's top producers in a very short period. Exxon has already started signing lithium supply deals with potential customers for its branded product, Mobil Lithium. Last year, it inked a nonbinding agreement with battery parts maker LG Chem to potentially supply 100,000 metric tons of lithium carbonate over several years. LG Chem would use it at its cathode plant in Tennessee, which it expects to complete this year. The oil giant is also looking into other potential lithium projects worldwide. It's reportedly working with oilfield services giant SLB on potential lithium investment opportunities in Chile. An all-of-the-above approach Energy giants Chevron and Exxon are taking methodical approaches to the transition to lower-carbon energy. Both companies continue investing heavily in oil and gas to meet the world's near-term needs for fossil fuels. For example, Exxon is investing $140 billion in major projects and in developing the Permian basin through 2030. This investment level will add 1.2 million oil-equivalent barrels per day (BOE/d) to its output, which it expects will reach 5.4 million BOE/d by 2030. However, the energy companies are also steadily ramping up their investments in lower-carbon energy. They're taking a broad approach by investing in industries adjacent to the fossil fuel sector, such as hydrogen, biofuels, carbon capture and storage, and lithium. Exxon aims to invest up to $30 billion into lower carbon energy opportunities through 2030, while Chevron is currently allocating about 10% of its $15 billion annual capex budget to lower carbon energy opportunities. The oil companies want to methodically build profitable lower-carbon energy businesses that generate high investment returns to complement their oil and gas operations. Building the future of energy Chevron and Exxon know that the world wants to switch to lower-carbon energy sources. That's leading the energy giants to expand into new areas like lithium. They want to leverage their extensive expertise to build profitable businesses that can grow shareholder value over the long term. It's a smart approach that could pay off for investors in the future. Should you invest $1,000 in Chevron right now? Before you buy stock in Chevron, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Chevron wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor 's total average return is995% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
News.com.au
a day ago
- Business
- News.com.au
High Voltage: Chevron jumps on the DLE bandwagon in the USA
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium. Chevron has jumped on the direct lithium extraction bandwagon in the USA's Smackover Formation in Texas and Arkansas, picking up two leasehold acreage positions comprising ~125,000 net acres in the lithium-brine rich region. The oil major joins the likes of ExxonMobil who are looking to extract battery grade lithium from brines, leveraging its experience in subsurface, drilling, and resource extraction into Direct Lithium Extraction (DLE). The tech has similarities to conventional oil production, and instead of relying on traditional evaporation methods, extracts lithium from the brine and injects the remaining water back into the reservoir. It's also faster and has a smaller environmental footprint than evaporation ponds. 'This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies,' said Jeff Gustavson, president of Chevron New Energies president Jeff Gustavson said. 'Establishing domestic and resilient lithium supply chains is essential not only to maintaining U.S. energy leadership but also to meeting the growing demand from customers. 'This opportunity builds on many of Chevron's strengths including subsurface resource development and value chain integration.' Here's what Chevron envisages the process will look like. Cute. ASX listed US lithium hopefuls Anson Resources (ASX:ASN) Anson was an early mover in the movement to extract lithium rich brines from oil and gas reservoirs with its Paradox lithium project in Southern Utah. Boasting a +1Mt lithium carbonate equivalent resource, the company has moved to expand its footprint via the Green River lithium project in Utah, where Anson just announced a resource estimate or 103,000t, including 19,000t in the indicated category. The resource is based on drilling of the Bosydaba #1 well, which only represents around 24% of the property area, leaving room for significant exploration upside. Recent testwork also showed a >99% average rejection rate of impurities including sodium, calcium, magnesium and potassium. Rejecting more than 99% of impurities paves the way for a higher purity lithium carbonate product for use in electric vehicle batteries, which translates to low purification costs. US industrial giant Koch was brought on board for that industry leading pilot program. Over at Paradox, Anson recently received approval from the US Department of the Interior, Bureau of Land Management to begin western expansion resource drilling, with the plan to enter the Mineral Canyon Fed 1-3 and Sunburst 1 wells. The wells are located approximately 1km from historic lithium-rich assayed brines previously sampled from several historic oil and gas wells in the 'Big Flat' area. Jindalee Lithium (ASX:JLL) Jindalee owns the McDermitt Lithium Project in Oregon, which earlier this year was placed on the FAST-41 list by the Trump Administration. Listed as a Transparency Project on the register after an April 18 executive order from President Donald Trump, the listing could lead to faster permitting for the project, one of 10 identified by the US Government as its first wave of critical minerals projects supported by a previous March 20 exec order to increase domestic mineral production. The project, located near the site of America's first new lithium mine to hit FID in years, Thacker Pass, hosts an ore reserve of 251Mt at 1751ppm for 2.34Mt of lithium carbonate equivalent material. A PFS last year suggested it would produce 47,500tpa of lithium carbonate in the first 10 years of the 40 year operation at a C1 unit cost of US$8080/t. The company's Exploration Plan of Operations (EPO) is currently in the final stages of National Environmental Policy Act (NEPA) review with an Environmental Assessment recently published for public comment. Chariot Corporation (ASX:CC9) Chariot has stakes in both hard rock and clay-hosted lithium assets in Wyoming, Nevada and Oregon. The company is focused on its Black Mountain project, where it is exploring for a large-scale resource and testing the viability of a pilot mine. It also holds the Resurgent project in Nevada, a claystone project in the style of Thacker Pass and McDermitt. The Black Mountain pilot's proposed modular plant design would reduce upfront costs, offer flexibility to scale up rapidly, and provide short-term cash flow. A second phase RC drilling program kicked off back in November with the objective of defining a small-scale lithium resource that may support the establishment of the pilot mine. ioneer (ASX:INR) INR owns the Rhyolite Ridge lithium-boron project in Nevada and secured approval from the US Bureau of Land Management on the Final Environmental Impact Statement (EIS) last year, marking the final hurdle in the federal permitting process. In a record-setting deal for an Australian company, ioneer received a $US996m ($1.6b) 20-year loan from the US Department of Energy to develop an on-site processing facility at the project. The company lifted resources at the asset by 45% in March to 510Mt containing 3.97Mt of lithium carbonate equivalent and 14.66Mt of boric acid equivalent. If it can be developed ahead of Thacker Pass it would be the first new lithium mine in the US in almost 60 years and the first new boron mine in almost 100. INR also recently announced a ~US$16 Million (~A$25 Million) placement at 10 cents per share (Aussie) to complete a strategic partnering process and move on to a final investment decision for the project. Battery Metals Winners and Losers Here's how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese and vanadium is performing >>> Code Company Price % Week % Month % Six Month % Year Market Cap XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272 ADD Adavale Resource Ltd 0.002 100% 33% 0% -60% $4,574,558 PVT Pivotal Metals Ltd 0.012 71% 71% 50% -29% $10,886,711 VR8 Vanadium Resources 0.021 62% 50% -30% -67% $11,850,129 SRL Sunrise 0.745 51% 64% 239% 91% $77,144,511 IXR Ionic Rare Earths 0.012 50% 50% 100% 9% $63,209,109 ENT Enterprise Metals 0.003 50% 50% -25% -25% $2,953,293 LU7 Lithium Universe Ltd 0.009 50% 80% 0% -40% $7,859,796 YAR Yari Minerals Ltd 0.013 44% 86% 333% 225% $7,211,249 GCM Green Critical Min 0.025 43% 79% 317% 733% $61,360,707 DTM Dart Mining NL 0.004 33% 0% -60% -78% $3,594,167 MTM MTM Critical Metals 0.665 30% 171% 343% 1915% $311,733,850 LOT Lotus Resources Ltd 0.2025 27% 13% 9% -45% $485,793,226 EVR Ev Resources Ltd 0.0075 25% 50% 275% 49% $11,915,020 BCA Black Canyon Limited 0.1 25% 69% 52% 11% $12,446,467 A11 Atlantic Lithium 0.15 25% 11% -43% -62% $107,437,834 EUR European Lithium Ltd 0.051 24% -2% 46% -2% $92,491,614 WSR Westar Resources 0.006 20% 20% -14% -33% $1,993,624 ATM Aneka Tambang 0.995 20% 2% 6% -7% $1,297,131 KAI Kairos Minerals Ltd 0.031 19% 11% 138% 244% $81,558,278 CNB Carnaby Resource Ltd 0.37 17% 19% 4% -27% $86,787,766 ESR Estrella Res Ltd 0.052 17% 37% 154% 1056% $106,701,757 REE Rarex Limited 0.021 17% -13% 133% 50% $19,323,444 AX8 Accelerate Resources 0.007 17% -22% 0% -84% $5,580,321 M24 Mamba Exploration 0.014 17% 0% 17% -18% $4,132,319 OM1 Omnia Metals Group 0.014 17% 56% -82% -82% $2,822,192 SRI Sipa Resources Ltd 0.015 15% 25% 7% 0% $6,245,975 RAS Ragusa Minerals Ltd 0.015 15% -12% 25% -17% $1,996,383 GBR Greatbould Resources 0.071 15% 4% 58% 15% $54,775,639 VRC Volt Resources Ltd 0.0045 13% -10% 13% -10% $23,423,890 SGQ St George Min Ltd 0.0315 13% 21% 26% 21% $85,530,318 LML Lincoln Minerals 0.0045 13% 13% -18% -25% $8,410,279 LCY Legacy Iron Ore 0.009 13% 0% 13% -33% $87,858,383 HAW Hawthorn Resources 0.055 12% 0% 34% -21% $18,425,859 BUR Burleyminerals 0.046 12% -12% -24% -56% $8,333,696 JLL Jindalee Lithium Ltd 0.425 12% -11% 107% 32% $31,768,445 ITM Itech Minerals Ltd 0.03 11% -14% -41% -52% $5,295,897 LYC Lynas Rare Earths 9.46 10% 23% 44% 57% $8,933,517,628 E25 Element 25 Ltd 0.23 10% 7% -13% -6% $51,437,790 CHN Chalice Mining Ltd 1.585 9% 40% 42% 17% $601,046,387 DLI Delta Lithium 0.185 9% -10% 9% -16% $136,142,940 NWC New World Resources 0.052 8% 73% 174% 63% $185,810,650 IPT Impact Minerals 0.0065 8% 8% -31% -60% $25,709,645 G88 Golden Mile Res Ltd 0.013 8% -7% 44% 18% $7,075,222 L1M Lightning Minerals 0.065 8% 7% -10% -6% $7,026,326 EV1 Evolutionenergy 0.014 8% 40% -42% -58% $5,077,107 TLG Talga Group Ltd 0.43 8% -9% -1% -24% $200,020,931 PSC Prospect Res Ltd 0.16 7% 14% 88% 7% $115,327,180 REC Rechargemetals 0.016 7% 7% -16% -54% $3,854,850 PGD Peregrine Gold 0.165 6% 14% 32% -20% $13,575,639 STM Sunstone Metals Ltd 0.017 6% 31% 183% 70% $103,070,554 DVP Develop Global Ltd 4.805 6% 31% 114% 115% $1,325,284,105 FBM Future Battery 0.019 6% -5% 0% -49% $13,463,221 TKM Trek Metals Ltd 0.077 5% 28% 250% 157% $45,177,660 LPM Lithium Plus 0.064 5% 7% -30% -61% $8,501,760 RAG Ragnar Metals Ltd 0.022 5% 22% 10% 29% $9,479,720 IPX Iperionx Limited 4.45 5% 39% -3% 123% $1,461,757,426 MHC Manhattan Corp Ltd 0.023 5% 5% 5% -31% $5,402,675 BC8 Black Cat Syndicate 0.8675 5% 6% 43% 234% $633,214,718 DRE Dreadnought Resources Ltd 0.0125 4% -4% 25% -40% $60,954,000 TOR Torque Met 0.13 4% 35% 160% -13% $64,854,956 IG6 Internationalgraphit 0.054 4% 6% 20% -31% $9,484,358 PFE Pantera Lithium 0.0135 4% 4% -25% -63% $6,396,080 PEK Peak Rare Earths Ltd 0.28 4% 0% 166% 56% $98,592,651 PEK Peak Rare Earths Ltd 0.28 4% 0% 166% 56% $98,592,651 GL1 Globallith 0.15 3% -9% -17% -47% $36,642,497 EMC Everest Metals Corp 0.15 3% 0% 11% 20% $33,619,688 COB Cobalt Blue Ltd 0.061 3% 9% -12% -20% $26,245,492 NTU Northern Min Ltd 0.031 3% 15% 48% -11% $267,428,986 EG1 Evergreenlithium 0.031 3% -14% -56% -39% $6,806,927 TVN Tivan Limited 0.099 3% -6% 14% 43% $217,121,138 OCN Oceanalithiumlimited 0.068 3% 106% 172% 71% $11,455,850 FRS Forrestaniaresources 0.072 3% 16% 454% 38% $22,668,137 PNN Power Minerals Ltd 0.06 3% 0% -34% -48% $7,387,039 JMS Jupiter Mines. 0.2 3% 8% 48% -33% $392,208,352 KZR Kalamazoo Resources 0.088 2% -3% 10% 6% $19,306,629 CWX Carawine Resources 0.095 2% -5% -2% -5% $22,431,918 BM8 Battery Age Minerals 0.055 2% 4% -48% -67% $6,704,050 MLX Metals X Limited 0.56 2% 4% 40% 44% $514,107,092 RNU Renascor Res Ltd 0.06 2% -24% 7% -29% $155,130,046 ARN Aldoro Resources 0.31 2% -3% 3% 370% $56,386,965 BNR Bulletin Res Ltd 0.062 2% -17% 63% 59% $18,204,026 ARU Arafura Rare Earths 0.1675 2% -7% 46% 2% $418,935,877 FTL Firetail Resources 0.08 1% 33% -2% 3% $30,782,266 RXL Rox Resources 0.2875 1% -3% 60% 113% $212,438,162 WA1 Wa1Resourcesltd 14.61 0% 9% 7% -10% $988,650,330 PVW PVW Res Ltd 0.012 0% -8% -25% -48% $2,386,857 FLG Flagship Min Ltd 0.049 0% -39% -11% -69% $10,960,159 QXR Qx Resources Limited 0.003 0% -25% -25% -63% $3,930,987 RIL Redivium Limited 0.004 0% 0% 0% 33% $13,609,422 LPD Lepidico Ltd 0.002 0% 0% 0% -33% $17,178,371 MRD Mount Ridley Mines 0.002 0% 0% -33% -80% $1,556,978 CZN Corazon Ltd 0.002 0% 0% 0% -67% $2,369,145 MAN Mandrake Res Ltd 0.019 0% 6% -14% -41% $11,917,938 RLC Reedy Lagoon Corp. 0.0015 0% 0% -25% -50% $1,165,060 STK Strickland Metals 0.135 0% 17% 59% 23% $305,418,573 CLA Celsius Resource Ltd 0.007 0% 17% -30% -36% $21,948,419 MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922 BKT Black Rock Mining 0.028 0% 0% -18% -46% $38,205,437 SBR Sabre Resources 0.009 0% 13% -10% -47% $3,550,157 ADV Ardiden Ltd 0.145 0% 0% 7% 7% $9,377,626 AAJ Aruma Resources Ltd 0.01 0% 0% -17% -38% $2,775,727 JRV Jervois Global Ltd 0.011 0% 0% -8% -39% $29,730,402 VML Vital Metals Limited 0.002 0% 0% 0% -43% $11,790,134 CHR Charger Metals 0.042 0% -16% -33% -40% $3,329,071 ALY Alchemy Resource Ltd 0.005 0% -17% -29% -38% $5,890,381 LEL Lithenergy 0.37 0% 0% 0% -4% $41,440,581 MRC Mineral Commodities 0.026 0% 0% 0% 18% $25,596,288 MOH Moho Resources 0.004 0% -43% -11% 14% $2,981,656 WKT Walkabout Resources 0.095 0% 0% 0% -17% $63,769,838 CNJ Conico Ltd 0.007 0% 0% -42% -30% $1,905,017 BOA BOA Resources Ltd 0.02 0% 5% 0% -5% $2,467,057 SLZ Sultan Resources Ltd 0.005 0% -29% -17% -50% $1,157,350 MQR Marquee Resource Ltd 0.009 0% 13% -40% -25% $5,024,723 EFE Eastern Resources 0.031 0% 15% -6% -48% $3,656,608 EMS Eastern Metals 0.01 0% 0% 0% -67% $1,394,262 FG1 Flynngold 0.033 0% 38% 18% 43% $12,913,444 GSM Golden State Mining 0.007 0% -22% -13% -26% $1,955,594 OB1 Orbminco Limited 0.001 0% 0% -40% -60% $3,197,568 LMG Latrobe Magnesium 0.009 0% -31% -57% -80% $24,952,605 KOR Korab Resources 0.008 0% 0% 0% 33% $2,936,400 CMX Chemxmaterials 0.026 0% 0% 0% -50% $3,354,580 NC1 Nicoresourceslimited 0.1 0% 33% 11% -23% $11,110,552 GRE Greentechmetals 0.043 0% -10% -41% -71% $4,485,699 CMO Cosmometalslimited 0.016 0% 0% 13% -59% $5,154,170 OMH OM Holdings Limited 0.3 0% -12% -18% -31% $222,214,472 CRR Critical Resources 0.0035 0% 0% -30% -61% $9,149,774 SCN Scorpion Minerals 0.019 0% 6% 46% 19% $9,957,068 RBX Resource B 0.025 0% -11% -31% -29% $2,879,612 AKN Auking Mining Ltd 0.008 0% 14% 60% -62% $4,598,230 RR1 Reach Resources Ltd 0.008 0% -27% 14% -53% $6,995,451 EMT Emetals Limited 0.003 0% 0% -40% -40% $2,550,000 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% $1,610,000 NWM Norwest Minerals 0.013 0% 30% -24% -39% $11,620,303 ASO Aston Minerals Ltd 0.022 0% 29% 144% 69% $28,491,414 THR Thor Energy PLC 0.01 0% 0% -17% -38% $7,107,898 ODE Odessa Minerals Ltd 0.006 0% 20% 0% 100% $9,597,195 LNR Lanthanein Resources 0.001 0% -33% -67% -71% $4,215,272 CLZ Classic Min Ltd 0.001 0% 0% 0% -67% $2,790,942 OD6 Od6Metalsltd 0.026 0% 4% -13% -47% $4,172,167 ETM Energy Transition 0.047 0% -2% 38% 88% $69,813,391 M2R Miramar 0.003 0% 0% -25% -65% $2,990,470 TAR Taruga Minerals 0.009 0% 0% -10% 29% $6,423,787 RR1 Reach Resources Ltd 0.008 0% -27% 14% -53% $6,995,451 AOA Ausmon Resorces 0.002 0% 33% 0% -33% $2,622,427 DM1 Desert Metals 0.022 0% 16% -4% 0% $9,288,018 LNR Lanthanein Resources 0.001 0% -33% -67% -71% $4,215,272 KNI Kunikolimited 0.12 0% -17% -40% -27% $10,430,912 LLM Loyal Metals Ltd 0.13 0% 53% 30% -33% $13,095,298 LLL Leolithiumlimited 0.332997 0% 0% 0% 0% $401,204,047 SRN Surefire Rescs NL 0.0015 0% -40% -55% -78% $3,729,668 SLM Solismineralsltd 0.091 0% 15% 25% -4% $11,812,221 ASR Asra Minerals Ltd 0.002 0% -20% -33% -50% $7,983,396 NIC Nickel Industries 0.7075 -1% 7% -14% -16% $3,124,753,830 VTM Victory Metals Ltd 0.815 -1% -12% 99% 196% $94,168,554 FRB Firebird Metals 0.078 -1% 4% -10% -55% $11,104,189 IDA Indiana Resources 0.076 -1% -4% 27% 74% $49,490,399 NVA Nova Minerals Ltd 0.35 -1% 8% 27% 75% $114,664,083 1AE Auroraenergymetals 0.059 -2% -24% 28% -8% $10,743,824 PTR Petratherm Ltd 0.285 -2% 0% -2% 1681% $98,500,209 ARL Ardea Resources Ltd 0.395 -2% -1% 20% -23% $84,165,166 KFM Kingfisher Mining 0.05 -2% 0% 22% -21% $2,470,890 MHK Metalhawk. 0.485 -2% 3% 73% 833% $53,522,728 CXO Core Lithium 0.089 -2% -10% 9% -1% $195,014,415 ILU Iluka Resources 3.685 -2% -10% -28% -42% $1,619,825,940 NVX Novonix Limited 0.405 -2% -27% -33% -40% $254,448,618 BUX Buxton Resources Ltd 0.038 -3% 9% -5% -48% $13,006,734 ZNC Zenith Minerals Ltd 0.038 -3% -17% -7% -45% $12,353,962 SYR Syrah Resources 0.2775 -3% -31% 54% -29% $270,983,652 SYR Syrah Resources 0.2775 -3% -31% 54% -29% $270,983,652 CTM Centaurus Metals Ltd 0.36 -3% -3% -3% -19% $178,812,437 KOB Kobaresourceslimited 0.035 -3% -16% -56% -75% $6,132,990 BMM Bayanminingandmin 0.034 -3% 17% -33% -39% $3,500,484 A8G Australasian Metals 0.067 -3% -3% -13% -12% $3,878,612 PLL Piedmont Lithium Inc 0.091 -3% -13% -41% -41% $51,110,378 WR1 Winsome Resources 0.135 -4% -18% -67% -83% $33,535,350 FGR First Graphene Ltd 0.026 -4% -33% -7% -52% $19,469,152 AXE Archer Materials 0.26 -4% 4% -33% -29% $66,260,223 WC8 Wildcat Resources 0.13 -4% -26% -35% -63% $181,516,739 LM1 Leeuwin Metals Ltd 0.13 -4% -7% 117% 141% $13,104,830 S32 South32 Limited 2.945 -4% -1% -13% -19% $13,431,657,421 DEV Devex Resources Ltd 0.075 -4% -10% -16% -77% $33,126,800 GW1 Greenwing Resources 0.025 -4% -17% -38% -39% $7,224,358 VMC Venus Metals Cor Ltd 0.115 -4% 10% 74% 51% $22,554,799 AZI Altamin Limited 0.023 -4% 0% 5% -35% $13,213,567 GED Golden Deeps 0.022 -4% 22% -12% -46% $3,896,765 ABX ABX Group Limited 0.041 -5% -9% 17% -18% $10,288,257 MEK Meeka Metals Limited 0.1525 -5% 22% 91% 362% $440,248,405 WC1 Westcobarmetals 0.02 -5% 25% 54% -48% $4,375,969 KNG Kingsland Minerals 0.08 -5% -24% -47% -57% $5,804,873 AVL Aust Vanadium Ltd 0.0095 -5% -21% -21% -37% $86,346,581 QPM QPM Energy Limited 0.037 -5% -14% -30% 12% $95,961,021 AUZ Australian Mines Ltd 0.009 -5% -10% -14% 13% $12,586,609 ARR American Rare Earths 0.26 -5% 4% -2% 8% $137,004,291 1MC Morella Corporation 0.017 -6% -6% -43% -73% $6,196,617 MLS Metals Australia 0.017 -6% -6% -19% -15% $12,388,232 DYM Dynamicmetalslimited 0.255 -6% -9% -4% 70% $12,516,506 ASN Anson Resources Ltd 0.047 -6% -15% -16% -53% $65,176,617 CY5 Cygnus Metals Ltd 0.094 -6% 31% -18% 81% $80,006,377 KM1 Kalimetalslimited 0.078 -6% -9% -35% -74% $6,462,102 GLN Galan Lithium Ltd 0.091 -6% -13% -21% -48% $91,007,948 LKE Lake Resources 0.029 -6% -15% -29% -42% $52,291,344 BHP BHP Group Limited 36.45 -7% -8% -9% -15% $187,101,073,782 AGY Argosy Minerals Ltd 0.014 -7% -26% -51% -84% $21,838,814 PNT Panthermetalsltd 0.014 -7% 8% 27% -31% $5,115,377 CDT Castle Minerals 0.083 -7% -2% 38% -57% $9,280,766 IGO IGO Limited 4.075 -7% -5% -19% -33% $3,119,943,390 HAS Hastings Tech Met 0.27 -7% -21% -16% 0% $50,993,856 HRE Heavy Rare Earths 0.037 -8% 23% 16% 47% $7,697,254 LTR Liontown Resources 0.66 -8% -19% 20% -35% $1,627,701,337 SMX Strata Minerals 0.012 -8% -14% -40% -52% $2,938,226 LRV Larvottoresources 0.59 -8% -11% 27% 490% $255,633,730 LIN Lindian Resources 0.115 -8% -4% 39% 5% $139,610,668 AZL Arizona Lithium Ltd 0.0055 -8% -39% -54% -74% $31,621,887 BSX Blackstone Ltd 0.088 -8% 19% 226% 96% $63,138,355 AQD Ausquest Limited 0.055 -8% 2% 511% 337% $76,524,445 KTA Krakatoa Resources 0.011 -8% 22% 10% -8% $6,821,474 VHM Vhmlimited 0.22 -8% -6% -53% -41% $55,785,389 AR3 Austrare 0.053 -9% -15% -47% -40% $11,447,318 EGR Ecograf Limited 0.3 -9% -9% 237% 122% $131,698,228 SRZ Stellar Resources 0.015 -9% -12% 0% -17% $33,276,009 WCN White Cliff Min Ltd 0.02 -9% -31% 18% 43% $50,681,109 PAT Patriot Resourcesltd 0.059 -9% -3% 16% 5% $9,601,347 S2R S2 Resources 0.068 -9% -25% 1% -35% $33,523,788 PLS Pilbara Min Ltd 1.29 -9% -17% -41% -60% $4,183,309,008 ASL Andean Silver 1.05 -9% 24% 14% 46% $168,300,180 QEM QEM Limited 0.038 -10% -31% 15% -71% $8,983,213 WIN WIN Metals 0.019 -10% -17% 0% -32% $10,451,104 LIT Livium Ltd 0.009 -10% -10% -47% -50% $15,214,564 RMX Red Mount Min Ltd 0.009 -10% 13% 0% -10% $4,184,620 MRR Minrex Resources Ltd 0.009 -10% 6% 13% -10% $9,763,808 IMI Infinitymining 0.009 -10% 0% -31% -67% $3,807,142 GRL Godolphin Resources 0.009 -10% 0% -40% -53% $4,039,860 EMH European Metals Hldg 0.17 -11% -24% 6% -39% $36,302,823 INR Ioneer Ltd 0.1025 -11% -24% -32% -29% $260,817,252 AXN Alliance Nickel Ltd 0.032 -11% -3% -18% -16% $23,226,868 PMT Patriotbatterymetals 0.235 -11% -6% -25% -64% $134,826,735 SUM Summitminerals 0.031 -11% -11% -76% -94% $2,745,858 RVT Richmond Vanadium 0.115 -12% -21% -48% -62% $24,097,161 MEI Meteoric Resources 0.115 -12% 5% 40% -32% $280,423,534 SYA Sayona Mining Ltd 0.015 -12% -6% -40% -57% $173,149,440 GAL Galileo Mining Ltd 0.11 -12% -12% 0% -52% $21,738,742 TMB Tambourahmetals 0.022 -12% -8% -8% -66% $3,235,981 NMT Neometals Ltd 0.073 -12% -9% 0% -27% $56,168,031 ENV Enova Mining Limited 0.007 -13% -13% 17% -53% $10,203,200 ANX Anax Metals Ltd 0.007 -13% -13% -36% -77% $6,179,653 MIN Mineral Resources. 22.47 -13% -15% -35% -63% $4,439,355,264 PGM Platina Resources 0.02 -13% -5% 5% -9% $12,463,607 NH3 Nh3Cleanenergyltd 0.031 -14% 15% 72% 182% $16,938,144 AS2 Askarimetalslimited 0.006 -14% -33% -54% -89% $2,425,024 LSR Lodestar Minerals 0.006 -14% -14% -63% -80% $1,910,543 RON Roninresourcesltd 0.165 -15% -18% 0% 32% $6,661,877 VUL Vulcan Energy 3.49 -15% -24% -41% -16% $785,035,632 CRI Criticalim 0.016 -16% -6% 33% -41% $43,159,178 PUR Pursuit Minerals 0.037 -16% -16% -66% -75% $3,740,024 CAE Cannindah Resources 0.026 -16% -41% -38% -55% $18,930,079 INF Infinity Lithium 0.015 -17% -32% -40% -71% $7,088,881 EVG Evion Group NL 0.015 -17% -17% -35% -17% $6,523,800 TON Triton Min Ltd 0.005 -17% -17% -38% -58% $7,841,944 AM7 Arcadia Minerals 0.015 -17% -25% -17% -70% $1,760,751 GT1 Greentechnology 0.02 -17% -20% -65% -73% $9,028,231 WMG Western Mines 0.145 -17% -33% 0% -58% $14,518,252 EMN Euromanganese 0.19 -17% -10% 0% -46% $12,357,768 ASM Ausstratmaterials 0.585 -18% 8% 23% -25% $112,431,223 PBL Parabellumresources 0.045 -18% 0% -13% 13% $2,803,500 BYH Bryah Resources Ltd 0.012 -20% 200% 300% 71% $10,439,442 RGL Riversgold 0.004 -20% 0% 33% -33% $7,576,707 TMX Terrain Minerals 0.002 -20% -33% -33% -43% $4,497,113 FIN FIN Resources Ltd 0.004 -20% -33% -20% -56% $2,779,554 KGD Kula Gold Limited 0.007 -22% -13% 6% -38% $6,448,776 ICL Iceni Gold 0.061 -24% 5% -8% -10% $19,876,355 LEG Legend Mining 0.006 -25% -25% -40% -54% $17,468,863 CTN Catalina Resources 0.003 -25% 50% 7% 7% $7,278,057 TEM Tempest Minerals 0.003 -25% -40% -40% -67% $3,072,310 TKL Traka Resources 0.001 -33% -33% 0% -33% $3,188,685 XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272 ADD Adavale Resource Ltd 0.002 100% 33% 0% -60% $4,574,558 PVT Pivotal Metals Ltd 0.012 71% 71% 50% -29% $10,886,711 VR8 Vanadium Resources 0.021 62% 50% -30% -67% $11,850,129 SRL Sunrise 0.745 51% 64% 239% 91% $77,144,511 Weekly Small Cap Standouts Vanadium Resources (ASX:VR8) The company's subsidiary, Vanadium Resources (VanRes) has signed an MoU with China Precious Asia Limited (CPAL) for a magnetite ore supply agreement from its world-class Steelpoortdrift vanadium project in South Africa. VanRes will supply CPAL with an average of 100,000 metric tons of magnetite ore per month over the two-year term of the non-binding direct shipping ore agreement. VR8 says the deal is expected to unlock early revenues and operating cashflows in support of the company's staged development and funding strategy for the project. It also positions VR8 to become a near-term producer by monetising its substantial resource base (+180 years), while retaining full flexibility to scale into full development as vanadium market conditions improve. 'Through our ongoing strategic equity and offtake process, it became increasingly apparent that there is a compelling opportunity to potentially transition the company toward near-term production, even at this low point in the vanadium market cycle,' executive chairman Jurie Wessels said. 'This has been made possible by our advanced permitting status and the suite of valuable minerals within Steelpoortdrift's ore, which contains not only vanadium credits but also iron-rich magnetite. 'Based on the company's internal assessments and the volumes proposed under the MoU, we anticipate that a DSO operation at Steelpoortdrift has the potential to generate material positive operating cashflows for VR8 and its shareholders. 'While the MoU is non-binding, the level of engagement and interest from CPAL gives me confidence that a binding and value-accretive commercial agreement can be reached.' Ionic Rare Earths (ASX:IXR) This week the company announced the expanded focus of its Viridion joint venture with Viridis Mining and Minerals to potentially develop a US-based rare earth refinery. That's in addition to a proposed Brazilian based rare earth refinery and a magnet recycling facility. IXR previously completed internal scoping study for a US-based heavy REO refinery, using Ionic Technologies' separation and refining IP, which will now be updated through Viridion to fast-track initial estimates for both Brazilian and US refining capacity to facilitate stakeholder discussions. A potential US rare earth refinery would have the capacity to obtain mixed rare earth carbonate (MREC) from Viridis' Colossus project in Brazil, plus other similar ionic adsorption clay deposits to enable the flow of magnet and heavy rare earths into the US manufacturing base. 'Viridion has made substantial progress in very rapid time, with the recent delivery of Brazil's first locally sourced recycled magnet REOs, followed importantly by the announcement of financial support from the Brazilian Government,' MD Tim Harrison said. 'With the United States focused on addressing its critical shortages of domestic rare earths, Viridion is now working to examine how it could play a role in building a sovereign and sustainable US rare earth supply chain, building on our plans to facilitate Brazil's rare earths drive. 'IonicRE's international expansion strategy now encompasses the UK/Europe, Asia, South and North America, as we work with our global partners to build an ex-China rare earths supply chain.' Green Critical Minerals (ASX:GCM) GCM has completed the construction and commissioning phases of its commercial-scale Very High Density (VHD) graphite plant with first production imminent. The plant features a modular design with Module 1 now complete and operational. Line 2 of the pilot plant was designed so that it could easily be converted into the first module of a scalable, multi-module production plant – and the company has now accelerated its transition to commercial production by transforming the Line 2 Pilot Plant into the first stage of its full-scale VHD graphite plant GCM believes the completion of the production plant significantly enhances manufacturing capabilities, signalling a step forward in commercialisation of its proprietary VHD graphite technology. The VHD) graphite blocks offer superior heat transfer and dissipation compared to traditional materials like aluminium and copper, making them ideal for high performance electronics and a range of other sectors like aerospace, defence, medical and manufacturing. This material is especially important for cooling infrastructure in AI data centres, with GCM recently securing a deal with GreenSquareDC, a leading Australian data centre operator.
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ExxonMobil CEO talks oil supply amid Iran-Israel conflict
ExxonMobil CEO Darren Woods said there is sufficient supply in the global oil market to withstand any supply disruption to Iranian exports. "There's enough spare capacity in the system today to accommodate any Iranian oil that comes off the market," Woods told Fox News' Bret Baier on "Special Report," adding that "The bigger issue will be if infrastructure for exports or the shipping past the Strait of Hormuz is impacted." Woods was referring to how the market is more concerned about the ongoing conflict between Israel and Iran disrupting the Strait of Hormuz, which is located between Oman and Iran, and considered the world's most important oil chokepoint, according to the Energy Information Administration (EIA). Oil Prices Spike After Israel's Strikes On Iran Iran produces 3.3 million barrels per day of crude oil and exports about 1.6 million barrels per day of crude oil, which accounts for less than 2% of total global demand, according to Andy Lipow, president of consulting firm Lipow Oil Associates. It's also a fraction of the oil that flows through the Strait of Hormuz. In 2024, the oil that flowed through the waterway, which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, averaged 20 million barrels per day, the equivalent of about 20% of global petroleum liquids consumption. To complicate matters, there are also very few alternative options to move oil out of the strait if it is closed. Read On The Fox Business App Oil prices soared on Friday as the market after the Israeli Defense Forces (IDF) launched a sweeping strike on Iran's nuclear facilities and military leaders. U.S. West Texas Intermediate prices reached $72 a barrel as the strikes raised concerns on Wall Street that escalating tensions between Israel and Iran could disrupt Iranian energy supplies. Trump Administration To Open 13 Million Alaska Acres To Mining, Drilling However, prices began to cool as export capacity was spared in the attacks. "I think quite purposefully, to not disrupt the oil supply," Woods said. The loss of Iranian oil to the market could raise prices by up to $7.50 per barrel, but if oil exports through the Strait of Hormuz are affected, prices could climb to $100, according to Lipow. Retaliatory targets for Iran that could have the greatest impact on prices are oil tankers headed to the U.S. through the Strait of Hormuz, he added. Israeli missiles hit Iran's Shahr Rey Refinery near Tehran, which has a capacity of 225,000 barrels per day, and the Shahran fuel depot near Tehran, Lipow said. In total, Iran has 11 refineries with a combined 2.5 million barrels per day of oil refining capacity. Iranian missiles hit Israel's Haifa refinery, which has a capacity of 197,000 barrels per day. Israel has two refineries with a combined 300,000 barrels per day of refining article source: ExxonMobil CEO talks oil supply amid Iran-Israel conflict
