PURPOSE INVESTMENTS INC. FD CORP DIVERSIFIED REAL ASSET FD ETF (PRA)
- 41.850
- -0.020-0.05%
PURPOSE INVESTMENTS INC. FD CORP DIVERSIFIED REAL ASSET FD ETF (PRA) News
Exxon Mobil raises LNG sales target, expects global demand to double to 1 billion tonnes by mid-century
① Peter Clarke, Senior Vice President of LNG at Exxon Mobil, announced that the company's global LNG sales are expected to rise to approximately 50 million tons per year by 2030; ② He also forecasts that total global LNG demand will increase from the current roughly 400 million tons to 500 million tons by 2030 and 1 billion tons by 2050; ③ This move reflects the company's desire to capitalize on the opportunities presented by natural gas as a transition fuel and the continued growth in global demand.
Report: Yenbo Port's inventories can sustain exports for only 5 to 7 days. If Saudi Arabia is attacked and the oil pipeline remains disrupted, the global market could face a crude oil shortfall of up to 4%.
Saudi Arabia's east–west oil pipeline was shut down after a drone attack, leaving port inventories sufficient to sustain exports for only five to seven days. Analysts warn that, if repairs are not completed promptly, global crude oil supplies could face a shortfall of around 4%. With the repair timeline still uncertain and Middle Eastern energy exports already sluggish, global fuel prices have risen further, intensifying market panic and inflationary pressures.
Tanker freight rates have surged to 4.5 times the baseline benchmark, with the war costs of Middle East conflicts being factored into the price of every barrel of crude oil.
This week, freight rates for very large crude carriers (VLCCs) on the Gulf of Oman-to-China route surged to Worldscale 450 points (equivalent to 4.5 times the benchmark rate), translating to approximately $11.50 per barrel and setting a record high since the inception of this route. Meanwhile, ongoing military exchanges between the United States and Iran continue to constrain available shipping capacity in the Gulf, while VLCC freight rates on the West Africa-to-Asia route have also hit historic highs.
As net long positions in WTI crude oil hit a 20-week high, the Trump administration is considering invoking the Defense Production Act to expand refining capacity.
Executives at refining companies stated that new refineries require several years to become operational, leading them to prioritize improving the efficiency of existing facilities. Currently, the average price of diesel in the United States has surpassed $6 per gallon for the first time, while gasoline prices remain elevated, and refinery utilization rates have reached approximately 98%. According to data from the CFTC, as of the week ending September 8, net long positions in NYMEX WTI crude oil hit a 20-week high, and net long positions in gasoline reached a nine-month high.
Catalyst Watch: FOMC Blockbuster, Salesforce Event, and 24-hour Trading Talk
SA Asks: What's the Best Copper Stock Play Right Now?
Houthi forces have nearly complete control of the Bab el-Mandeb Strait! A dual blockade is strangling Saudi Arabia's export lifeline.
The Houthi forces have not only seized all strategic islands in the Red Sea but also paralyzed Saudi Arabia’s last crude oil export corridor. Can isolated Riyadh weather this shock?
IEA warns that the war in Iran has dragged oil demand to its largest post-pandemic decline, cautioning that further weakening is likely in the coming months.
The ongoing conflict in Iran continues to weigh on global oil demand, with this year's decline marking the largest since the onset of the pandemic, and further contraction is likely in the coming months.
Houthi forces seized a key Red Sea port, escalating the conflict with Saudi Arabia, while reports emerged that Iran has resumed ballistic missile production, sending crude oil prices surging.
Officers of the Yemeni government forces stated that on Thursday, Houthi rebels captured Mokha, a strategic port city in Taiz Province in southwestern Yemen and a key location on the Red Sea. On the same day, the Houthis claimed that Saudi Arabia had launched 64 airstrikes across multiple locations in Yemen within a 24-hour period. They asserted that navigation in the Red Sea remains "unthreatened" and described their military operations as defensive. Shipping industry experts noted that the capture of Mokha allows the Houthis to advance further south, effectively achieving "near-total control" of the Bab el-Mandeb Strait. The loss of Mokha will "undoubtedly impact maritime security in the region."
Why Is Chemours Stock Trading Higher Today?
The Chemours Company (NYSE:CC) shares traded higher Thursday after the company, DuPont, and Corteva reached a $455 million settlement resolving PFAS-related litigation in North Carolina.The gain
HSBC: Global commodities enter "super bull market" amid confluence of Iran war, Russia-Ukraine conflict, and El Niño
HSBC believes that the market has entered a phase of "super squeeze," with commodity prices likely to remain elevated for an extended period.
International copper prices plunged suddenly, with reports indicating that the White House has not yet decided whether to impose tariffs on refined copper.
According to media reports citing informed sources, the White House has not yet decided whether to impose tariffs on refined copper. The administration is weighing the trade-offs between supporting the domestic copper industry and the potential for higher manufacturing costs and living expenses.
DuPont, Chemours, Corteva Reach $455M North Carolina 'Forever Chemicals' Settlement
TotalEnergies Plans to Invest $10B in Angola, Fast-tracks Discovery to Produce First Oil
South Korea Nears Over $100B U.S. Energy Investment to Support AI Buildout: WSJ
Energy Index ETFs have surged 48% year-to-date! U.S. energy stocks remain "cheap" despite the rally: sustained high oil prices could drive a valuation recovery.
The Energy Select Sector SPDR Fund, an ETF tracking U.S. energy stocks, has surged 483% year-to-date, significantly outperforming all other S&P 500 sectors. Despite this rally, the energy sector remains one of the lowest-valued segments within the S&P 500. While elevated oil prices have generated excess profits for energy companies, Wall Street previously viewed this earnings growth as transient. However, if high oil prices persist longer than expected, the valuation re-rating of energy stocks may only just be beginning.
London and New York copper prices both hit record highs! Tariff expectations and supply shortages drive the rally
Copper prices simultaneously hit record highs in the London and New York markets, reaching $14,858.5 per tonne and $6.894 per pound, respectively. Anticipation of tariffs has driven hundreds of thousands of tonnes of copper into the United States, tightening physical supply in London; meanwhile, output growth from aging mines is struggling to keep pace with rising demand from data centers, renewable energy, and grid expansion. Notably, analysts point out that rising oil prices have heightened market expectations for interest rate hikes, exerting some downward pressure on copper prices.
EIA Significantly Raises Oil Price Forecasts: Brent Crude Average Price Expected to Reach $91 in 2026 Amid Greater-Than-Expected Supply Disruptions
The U.S. Energy Information Administration (EIA) projects that the average spot price of Brent crude will be $91 per barrel in 2026 and $74 per barrel in 2027, representing upward revisions of $4 and $5, respectively, from previous forecasts. The average Brent price in the second half of 2026 is expected to be approximately $90 per barrel, $8 higher than previously projected. The EIA anticipates an average production disruption of about 5.7 million barrels per day in the fourth quarter, with global inventories continuing to decline.
Central banks are no longer focused solely on oil prices; cracking spreads are sounding the alarm on inflation.
Crack spreads, defined as the price differential between refined petroleum products such as gasoline and diesel and crude oil, are becoming a key indicator for central banks in assessing inflationary pressures. Conflicts in the Middle East and between Russia and Ukraine have disrupted global refining capacity, tightening the supply of refined products and driving crack spreads sharply higher. Bank of England Governor Andrew Bailey stated that he is currently more concerned about the widening of crack spreads than about crude oil prices, while the European Central Bank has also incorporated them into its assessment of energy prices and inflation risks.
Brent Tops $100 as Morgan Stanley Warns Oil, Rates Are 'Main Risks' to Stocks
Brent crude climbed above $100 a barrel Wednesday as Morgan Stanley warned that higher oil prices and interest rates remain the main near-term risks to stocks.Analysts led by chief U.S. equity