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On October 21st, Turkish President Recep Tayyip Erdogan will visit Qatar on Wednesday, planning to purchase 24 used Typhoon fighter jets to advance the modernization of its air force. According to sources familiar with the matter, the United Kingdom, a co-developer of the Typhoon, has facilitated negotiations for Qatar to transfer 24 Tranche 3A fighter jets to its military ally, Turkey. Turkey has also requested 16 new Tranche 4 fighter jets, with the overall deal valued at billions of dollars. Sources familiar with the matter stated that the agreement has not yet been finalized, and technical details are still under negotiation. As a NATO member, Turkey is the worlds second-largest user of F-16 fighter jets and has never operated any other foreign aircraft. Sources indicate that Turkey hopes to deepen defense cooperation with Europe and plans to begin receiving the first batch of Typhoon fighter jets as early as next year, while delivery of the newly purchased F-16s may not occur until after 2030. Faced with the military threat from Russia, almost all European countries have increased their defense spending this year.On October 21, CGN Mining (01164.HK) announced that in the third quarter of 2025, the Groups invested mines produced a total of 644.3 tonnes of natural uranium, achieving 96.5% of its planned production for the quarter. Semizbai Uranium Limited Partnership, a 49%-owned Kazakh joint venture, produced 184.5 tonnes of natural uranium, while another 49%-owned Kazakh associate, Mining Company Oltarek Limited Partnership, produced 459.7 tonnes of natural uranium. As of September 30, 2025, the Group held 1,454 tonnes of natural uranium (approximately 3.78 million pounds of U₃O₃) at a weighted average cost of US$71.8 per pound of U₃O₃. Contracted but undelivered sales of 3,965 tonnes of natural uranium (approximately 10.31 million pounds of U₃O₃) were at a weighted average selling price of US$81.40 per pound of U₃O₃.According to The Information: Nvidia (NVDA.O) discussed providing loan guarantees for OpenAI.On October 21, leaders of many European countries expressed "strong support" for an immediate ceasefire and the start of peace talks along the current front line of the Russia-Ukraine conflict, aiming to inject new momentum into the end of the conflict that has lasted for more than four years. The joint statement issued on Tuesday coincided with US President Trumps disclosure that he would meet with Russian President Putin in Hungary in the coming weeks to discuss the Russia-Ukraine conflict. Trump has called on both sides to declare a ceasefire and start peace talks, but on Monday he expressed doubts about whether Ukraine could defeat Russia. Ukrainian President Zelensky supported the proposal to freeze the fighting along the front line and participated in signing Tuesdays statement. Other leaders who expressed support included German Chancellor Merz, French President Macron, British Prime Minister Starmer, Italian Prime Minister Meroni and European Commission President von der Leyen. The joint statement said: "We strongly support President Trumps position that military actions should be stopped immediately and the current contact line should be the starting point for negotiations. We always adhere to the principle that international borders cannot be changed by force."On October 21, Minmetals Resources (01208.HK) announced that its total copper production (including copper in copper concentrate and electrolytic copper) in the third quarter of 2025 was 127,030 tons, an increase of 11% over the same period last year. Its total zinc production was 58,747 tons, a year-on-year increase of 26%.

Despite geopolitical concerns, WTI reverses a two-day rally near $76.50, and the US Dollar falls

Daniel Rogers

Feb 27, 2023 14:27

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WTI crude oil has retreated from its previous weekly high, falling to $76.50 while posting modest losses early Monday. In doing so, black gold struggles to validate geopolitical fears emanating from Russia and fails to cheer a decline in the US Dollar amid hawkish central bank concerns.

 

However, Politico reports that the United States, the United Kingdom, and the European Union (EU) states have imposed new sanctions on Russia after a dispute between Poland and Italy delayed the process for days. Reuters reported that Russia had halted the supply of oil to Poland via the Druzhba pipeline.

 

It should be noted that the recent improvement in the developed economies' economic data has allowed their respective central banks to defend their hawkish bias and suggest further rate increases, despite the looming threat of a recession. Concerns about future poor demand present similar difficulties for energy prices.

 

The US President Joe Biden's willingness to loosen control over the Strategic Petroleum Reserves (SPR) in order to combat the oil shortage could also have an impact on energy prices.

 

Despite the most recent pullback from the seven-week high, the US Dollar's strength also exerts downside pressure on the energy benchmark.

 

American Petroleum Institute (API) and Energy Information Administration (EIA) data on oil inventories may be of interest to oil merchants. Nonetheless, the risk catalysts will receive the lion's share of attention for establishing direction. Oil investors may be encouraged by the rumors of a covert alliance between China and Russia.