Investment Rating - The report maintains a bearish outlook on oil prices, expecting Brent crude to decline to $60-65 per barrel in the coming months from current levels of $68-70 per barrel [1] Core Insights - Ongoing geopolitical tensions provide a selling and hedging opportunity for oil producers, particularly in light of potential military actions involving Iran [1] - The report suggests a 60% chance of a US/Iran nuclear deal, which could lead to increased oil supply and lower prices [1] - If substantial progress is made in the upcoming Oman meeting, Brent prices are expected to revert to the mid-$60s per barrel range [5][24] Summary by Sections Geopolitical Context - The geopolitical situation is currently contained, with scheduled meetings between the US and Iran, and discouragement of military action from the US [2][10] - Many Gulf states are now more supportive of engaging Iran compared to a decade ago, indicating a shift in regional dynamics [10] Price Projections - In the event of a nuclear deal, Brent prices could drop to around $60 per barrel or lower, with WTI potentially falling to the low-$50s per barrel [6][26] - Conversely, if military actions escalate, prices could temporarily surge to $75-80 per barrel [3][23] Market Dynamics - Historical data indicates that similar geopolitical tensions have previously led to price increases of approximately $6-8 per barrel [4][11] - Managed money net length changes could also influence price movements, with potential for a price rise if positioning shifts occur [16][17] Supply Considerations - An increase in unsanctioned Iranian oil supply could further depress prices, especially if Iran raises production by an additional 0.5 million barrels per day [5][26] - OPEC+ may slow or pause its production return in response to falling prices, which could set the stage for a future price recovery [6][25]

Now, we're going to turn to more breaking news. The markets down this morning in the wake of Israel's strikes on Iran and renewed fears of a broader regional war after Iran's nuclear sites were targeted. You can see the Dow now down 661 points.Joining us now is NBC News senior business correspondent Christine Romans. What are the big takeaways emerging here. Which markets are we watching specifically.Which sectors. Well, spiking oil markets here is the really big thing to watch. And you see the stock market ...

Geopolitical Impact on Natural Gas Market - Middle East tensions highlight the importance of American energy and its role in global energy security [1] - American natural gas can replace energy from pro-dictator nations, fostering global stability, peace, and prosperity [2] - Geopolitical tensions are spiking, impacting trade dynamics [3] US LNG as a Strategic Tool - US LNG, as the number two export for America, is a key trading tool for strengthening international relationships and mitigating tariff impacts [4] - The current administration's support for US LNG is seen as a positive factor for stable trade and certainty for American business [4] - Leveraging US LNG can contribute to global peace and prosperity [5] Natural Gas Demand and Supply - The Middle East is expected to be a supplier of LNG, while Asia and Europe will be major demand centers for American LNG [7] - Increased US LNG is needed to replace Russian gas in Europe [8] - US LNG demand is projected to double by 2030, increasing by an incremental 15 BCF (billion cubic feet) per day [8] - The world is energy short, requiring more American energy to meet demand [9]

Core Insights - SSR Mining Inc. has temporarily suspended operations at the Seabee mine in Canada due to power outages caused by nearby forest fires [1][8] - The Seabee mine produced 26,001 ounces of gold in Q1 2025, reflecting a year-over-year increase of 9.4% [2][8] - Despite the operational halt, SSR Mining's shares rose by 3% and reached a 52-week high of $13.33, driven by high gold and silver prices [4][8] Production and Financial Outlook - SSR Mining expects the Seabee mine to produce between 70,000 to 80,000 ounces of gold for the full year of 2025 [3] - The cost of sales for the mine is projected to be between $1,230 and $1,270 per payable ounce, with an all-in sustaining cost (AISC) anticipated to be between $1,710 and $1,750 per payable ounce for 2025 [3] Market Performance - Silver prices have reached a 13-year high above $36 per ounce, while gold prices have also seen significant increases, currently around $3,320 per ounce [5] - SSR Mining's share price has surged by 147.9% over the past year, contrasting with a 2.2% decline in the industry [7] Strategic Moves - The recent acquisition of the Cripple Creek & Victor mine from Newmont Corporation positions SSR Mining as the third-largest gold producer in the United States, expected to boost annual production by 170,000 ounces of gold [6]

Key Takeaways from the Global Container Shipping Call India | Transport & Logistics Equity Research We hosted Omar Nokta, our Global analyst, to understand the recent trends in Container shipping. Key discussions included the impact of Geopolitical tensions and the recent tariffs by the USA administration. Global Container Freight volumes/rates are expected to remain upbeat in CY25. India Port Container volumes have high correlation with Global GDP/Container growth and EXIM trade; Adani Ports and Concor can ...