New U.S.-China Trade Framework Resets Rare Earth Logjam
by Metal Miner on July 7, 2025 at 8:00 pm
Via Metal Miner The Rare Earths MMI (Monthly Metals Index) moved sideways, rising a modest 0.66%. Meanwhile, prices for rare earths may experience short-term stabilization in the upcoming months, primarily due to President Trump reaching an agreement with China to ease restrictions on critical mineral exports. U.S.–China Strike Deal to End Export Freeze on Rare Earths In a recent developments, Beijing and Washington agreed to lift China’s export curbs on rare earth minerals. The June 27 agreement will allow shipments of Chinese rare…
Oil Climbs 2% as Houthi Rebels Hit Second Greek Vessel in Red Sea
by Charles Kennedy on July 7, 2025 at 7:50 pm
A Greek-operated bulk carrier was attacked in the Red Sea on Monday in the second Houthi strike on commercial shipping in less than 24 hours, stoking fears of a renewed escalation in one of the world’s most critical oil transit corridors, Arab and Israel media report. The Eternity C, a Liberia-flagged vessel managed by Athens-based Cosmoship, was hit off Yemen’s Hodeidah coast using a combination of sea drones, rocket-propelled grenades, and small arms. Two seafarers were seriously injured and two more are missing, according to shipping…
Iraq Lifts Oil Output by 80,000 bpd Across Three Key Fields
by Charles Kennedy on July 7, 2025 at 7:30 pm
Iraq’s Dhi Qar Oil Company has raised oil production by a combined 80,000 barrels per day across three strategic southern fields, Nasiriyah, Gharraf, and Saba, IraqiNews reported on Monday, marking one of the country’s most significant boosts this year as OPEC+ opens the door to higher member output. According to IraqiNews, seven new wells were drilled at the Nasiriyah field alone, lifting production from 52,000 bpd to 70,000 bpd. Additional volumes from Gharraf and Saba rounded out the total increase, though specific site figures were…
Octopus Energy CEO Slams “Gaslighting” in UK Power Market Debate
by OilPrice.com on July 7, 2025 at 7:00 pm
Octopus Energy founder Greg Jackson has accused his opponents of “gaslighting” ahead of an imminent decision by ministers on whether to split up the UK’s power market. Prime Minister Sir Keir Starmer is expected to draw a line under the zonal pricing debate as early as this week after months of increasingly fierce lobbying from both sides. It is understood the government is leaning towards keeping the status-quo in a victory for Jackson’s opposition, which include Scottish renewable power giant SSE, the trade association…
OPEC Production Increase Misguides Markets
by Cyril Widdershoven on July 7, 2025 at 6:30 pm
Global oil markets are again showing the impact of emotions and misinterpretation. The so-called surprise production increase taken by eight (8) leading members of OPEC is, in principle, not relevant for fundamentals or market stability, as it is only an indication. The presented production increase is based on raising the OPEC production ceiling—not to be taken as opening the valves to flood markets. At the same time, international media are again treating the situation as set in stone, while most headlines indicate that it is a strategic…