Money
Shell pulls out of Cambo oil field development
Oil giant Shell has pulled out of the Cambo oil field development causing mixed reaction by business leaders around the world
Shell has pulled out of the controversial Cambo oil field development west of Shetland – which the oil giant has a 30 percent stake in the project.
The oil giant stated that it had conducted “comprehensive screening” prior to concluding that the economic case for investment in the North Atlantic project was “not strong enough.”
The field could produce up to 170m barrels of oil equivalent and 53.5bn cubic feet of gas over 25 years, according to Reuters.
Reports published from the Independent stated that the decision was welcomed by environmental groups including Greenpeace, which said the decision should mark the “death blow” for Cambo.
Environmentalists say new fossil fuel projects like Cambo are incompatible with action on climate change.
But business leaders have warned that thousands of oil and gas jobs could be at risk
Aberdeen’s Chamber of Commerce said a “premature” end to domestic production could see some areas suffer the fate of mining communities in the 1980s, despite Cambo’s majority stakeholder stating it still planned to take the project forward.
Siccar Point Energy is currently awaiting approval from the UK government to develop the field.
Why Cambo isn’t a good look for Shell:
Shell has been promising to transition away from fossil fuels and commit to renewable technologies such as Sustainable Aviation Fuel, which the company has been working with airlines to produce.
Taking on environmentalist group as well as the Scottish government for the right to drill for oil is not a good look for a company, especially following COP26.
The Cambo oil project is expected to hold hundreds of millions of barrels of oil – each of them worth some $70 at current prices.
Money
Commodities surge as oil volatility and metals hit record highs
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.
Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.
To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.
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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews
Money
Stocks slide and Trump cancels talks: What’s next for markets and Greenland?
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.
Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.
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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics
Money
U.S. budget deficit falls to $1.67 trillion
US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.
US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.
The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.
David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.
We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.
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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews
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