Market Overview - The Nasdaq Composite has entered a technical correction, closing over 10% off its October record high, with a 7% loss in value this month. The S&P 500 and Dow Jones Industrial Average have also fallen approximately 6.5% and 7%, respectively, over the past four weeks [2]. Sector Performance - The materials sector has been the hardest hit, with gold miners Coeur Mining and Newmont down 36% and 21% this month, respectively. Gold prices have dropped about 15% since the war began, while silver has slumped over 25% [3]. - Energy is the only sector in the S&P 500 that has seen gains during the conflict, with energy stocks up more than 12% since the war began, driven by a more than 40% increase in crude oil prices [10]. - Homebuilder stocks have also suffered, with companies like Lennar, D.R. Horton, and PulteGroup down 15% or more due to rising mortgage rates, which have increased from about 6% to nearly 6.4% [7]. - Airlines and cruise operators are facing challenges, with shares of Carnival, Norwegian Cruise Line Holdings, and Royal Caribbean down between 15% and 23% due to rising fuel costs [8]. - Consumer discretionary stocks have struggled, with the S&P 500 consumer discretionary sector down more than 7.5% since the war began, while staples have shed about 8% [9]. Economic Impact - The ongoing war in Iran has exacerbated inflation risks and diminished expectations for interest rate cuts, with traders now seeing a nearly 50% chance of a rate hike before the end of the year [5]. - Rising interest rates are impacting demand for gold, as higher rates make gold less attractive compared to yield-bearing assets like bonds [5]. - The conflict has raised concerns about oil supply, with the closure of the Strait of Hormuz depriving the world of about 20% of its pre-war oil supply, which could further influence market dynamics [11].

Group 1: Venture Global (VG) and LNG Market - Venture Global (VG) reported Q4 2025 earnings with revenue up 192.8% year-over-year to $4.45 billion and adjusted EBITDA up 191% to $2 billion, indicating strong financial performance amid global supply crises [3] - The indefinite shutdown of Qatar's Ras Laffan facility has caused global gas prices to spike, further increasing the value of VG's uncontracted supply [2][4] - VG's stock jumped nearly 17% in a single session following the news of Qatar's shutdown, reflecting market sensitivity to LNG supply disruptions [2] Group 2: Rare Earth and Helium Supply Chain - The military's demand for rare earth metals has surged due to ongoing conflicts, with REalloys planning to build the largest heavy rare earth metallization facility outside of China [8][9] - Qatar's shutdown of its LNG facilities has also halted helium production, which is critical for semiconductor manufacturing and medical applications, leading to potential supply disruptions for up to six months [15][16] - Linde, a major industrial gas supplier, is positioned to benefit from the helium shortage, as it controls a significant portion of the distribution network [17][18] Group 3: Oil and Tanker Market Dynamics - VAALCO Energy is positioned favorably due to its operations being far from conflict zones, with a projected 225% organic production growth this year [20][21] - Frontline, a major tanker operator, has seen VLCC day rates surge past $200,000 due to increased demand and limited supply, indicating a strong market for tanker operators [12][13] - The closure of the Strait of Hormuz has disrupted oil supply chains, leading to a premium on oil that does not require war-risk insurance [19] Group 4: Copper Market and Freeport-McMoRan (FCX) - Freeport-McMoRan is experiencing a surge in copper prices, with LME prices recently crossing $13,000 per tonne due to supply constraints from the Strait of Hormuz closure [25][26] - The demand for copper is expected to increase due to military procurement and infrastructure upgrades, further driving prices higher [24][27] - Despite operational challenges, FCX's strong market position and rising copper prices suggest significant upside potential [26][27]

Core Insights - Granite Ridge Resources, Inc. (NYSE: GRNT) is focused on the Permian Basin and has shown proactive management of resources and growth prospects [1] - The company is experiencing a cash burn of $71 million in 2026 due to increased lease operating expenses while hedging 60% of its oil production to mitigate price volatility [2][6] - Despite a net loss of $25.1 million in 2025, Granite Ridge achieved an adjusted EBITDAX of $69.5 million and aims to generate free cash flow by 2027 [3][4][6] Financial Performance - In 2025, Granite Ridge reported a 27% increase in total production, reaching 35,120 barrels of oil equivalent per day [3] - The company declared a dividend of $0.11 per share and maintained total liquidity of $339.5 million, with a net debt to adjusted EBITDAX ratio of 1.2x [4] - As of the latest data, GRNT's stock price is $5.23, with a market capitalization of approximately $686 million, reflecting a 3.06% increase [5] Strategic Moves - Director Everard Michele J purchased 5,000 shares at $5.17 each, indicating confidence in the company's future [1][6] - The company plans to increase its hedging of oil production to 75%-80% in the second quarter of 2026 [2]

meeting with the American companies uh over the last weeks and months and including some today that are here in town. Uh I think you're going to see them all announcing that they've increased production, you know, here in the United States in response to the the price signals and in response to the need that we have right now. ...

And right now we are 2 minutes away from the end of the trading day Romaine Bostick here with Katie Greifeld taking her through to that closing bell with a global simulcast. Carol Massar and tim Sandvik join us. Welcome to our audiences across all of our bloomberg platforms Television, radio.Our partnership here with YouTube. And welcome back to the When your Florida vacation was missed a lot, it was quite the vacation. Tim Yeah. Yeah.Well, if I don't look ten, it's because I wasn't outside much, so now I'm ...

JUST IN: 🇺🇸 President Trump prepares to invoke Cold War-era powers to boost oil production off the Southern California coast, Bloomberg reports. https://t.co/y4ElZKPP41 ...

Trump is preparing to invoke Cold War-era powers to pave the way for renewed oil production off the southern California coast, a long-shot bid to help ease the global crude supply crunch spurred by his war with Iran. https://t.co/uopErGQnUh ...

RT Daniel Yergin (@DanielYergin)The war in Iran has caused the biggest disruption in oil production in history. Whether it becomes the long-feared “nightmare scenario” for energy markets (and the global economy) now depends on the duration of the conflict. My @FT column: https://t.co/uKMsVXBCQY ...

Market Overview - The U.S. stock market began the week with volatility due to escalating geopolitical tensions in the Middle East, particularly following military actions involving the U.S. and Israel against Iranian targets [1] - Major market indexes showed mixed performance in the afternoon, with the S&P 500 down approximately 0.3% to 6,828 after an initial drop of 1.2%, while the Nasdaq Composite rose 0.3% to 22,505 [2] Sector Performance - The Energy sector was a standout performer, increasing over 1.4% as global oil prices surged, with Brent Crude rising 8% to $78.70 and WTI climbing 6.7% to $71.55 [4] - Defense contractors experienced significant gains, with Lockheed Martin up 3.5% and RTX up 4.6%, driven by expectations of increased defense spending due to the conflict [5] - Conversely, travel-related stocks faced selling pressure, with MGM Resorts down 5.1% and Dollar Tree down 2.9% as rising fuel costs impacted consumer discretionary spending [5] Corporate Developments - Nvidia reported record fiscal fourth-quarter revenues of $68.1 billion, a 73% year-over-year increase, leading to a 3% rise in its stock [6] - Palantir Technologies saw a 6.3% increase, the largest gain in the S&P 500, as its defense-oriented software solutions gained attention amid the crisis [6] - In the broader Big Tech sector, Apple is trading at a premium but faces challenges, while Microsoft is down approximately 17% year-to-date, and Tesla and Alphabet are also experiencing muted performance [7] Economic Indicators - The ISM Manufacturing PMI for February was released at 52.0, indicating continued expansion, but the "Prices Paid" component rose sharply to 70.5, raising concerns about inflation [9] - Investors are anticipating key economic data releases, including the ADP Employment Report and February Non-Farm Payrolls, with expectations of slowing job growth to around 60,000 and an unemployment rate steady at 4.3% [8]

Core Viewpoint - Argo Gold Inc. has granted 4,000,000 options to purchase common shares at a price of $0.12 per share, effective March 1, 2026, with an expiration date of March 1, 2029, to its directors and consultants [1]. Company Information - Argo Gold is a Canadian mineral exploration and development company, as well as an oil producer. Further information can be accessed through SEDAR and the company's website [2]. - The company is listed on the Canadian Securities Exchange under the ticker CSE: ARQ, and also trades on OTC and various European exchanges [2].