December 2024

Families and relatives of Israeli hostages held in Gaza lit the first candle of Hanukkah on Wednesday, marking the start of the second such holiday without their loved ones, according to a statement from the Hostages and Missing Families Forum Headquarters.

Thousands of people attended a silent protest led by Shift 101 on Wednesday, which aims to put pressure on the government to work on releasing the hostages, it said. “Mothers and female relatives of the hostages, joined by many supporters, held a three-hour silent protest in white clothing, demanding an immediate deal to return all hostages,” the statement continued.

The vigil was followed by a candle-lighting ceremony at Beit Ariela in Tel Aviv. “Shira Albag, mother of (hostage) Liri Albag, lit the first candle while participants prayed together for the return of the 100 hostages,” the statement said.

“We won’t let the light go out. We must light the first candle and begin the deal. May each candle light the next until all our light returns with the homecoming of 100 hostages through a deal,” Shay Dickmann, cousin of hostage Carmel Gat, who was killed during captivity, said during the ceremony, according to the Forum statement.

Top US, Israeli, Qatari and Egyptian officials have all touted progress in the negotiations to the Gaza hostage and ceasefire last week. While officials caution that a deal is neither sealed nor guaranteed, recent upbeat language and diplomatic activity have signaled momentum toward reaching a deal.

Israeli negotiators returned home from talks in Qatar Tuesday for “internal consultations.”

Hamas is holding 100 hostages in Gaza – 96 taken on October 7, 2023, and four others who were kidnapped before that, according to Israeli authorities. The hostages include 13 women and two children under the age of five, according to the authorities.

At least 36 of the hostages have now been confirmed dead by Israel.

Israeli leaders also recalled the hostages at ceremonies marking the first night of Hannukah.

“I don’t believe that last year during Channukah (Hanukkah), anyone thought that a hundred of our brothers and sisters would still be in the hands of Hamas terrorists,” President Isaac Herzog said at Beit HaLochem in Tel Aviv on Wednesday, per a statement from his office.

“We are in a critical period for their return,” Herzog added, calling on Israel’s government “to act with all its might, using every tool at our disposal, to secure a deal. This is your duty.”

The first candle of Hanukkah was also lit at the Western Wall in Jerusalem along with other areas across the country on Wednesday as people gathered there to pray for the return of the hostages.

“Families of the hostages, we all pray that even today, they will return to Jerusalem, to the Holy Land, safe and well,” Western Wall Rabbi Shmuel Rabinovitch said in a statement.

Israeli Prime Minister Benjamin Netanyahu on Wednesday also marked Hanukkah at his office in Jerusalem with a more hawkish tone.

“Today we light the first candle of Hanukkah to mark the victory of the Maccabees of that time and the victory of the ‘Maccabees of today,” Netanyahu said, according to a statement released by the prime minister’s office, referring to a group of Jewish warriors and freedom fighters in the 2nd century BCE.

“Like then – we are hitting the oppressors and those who thought they would cut the thread of our lives here so it will apply to everyone. The Houthis will also learn what Hamas and Hezbollah and the Assad regime and others have learned, and even if it takes time, this lesson will be learned throughout the Middle East,” Netanyahu added in the statement.

He made no mention of the hostages held in Gaza.

Israel launched its war against Hamas in Gaza after the militant group’s October 7, 2023, cross-border attacks, in which more than 1,200 Israelis were killed and 250 taken hostage, according to Israeli authorities. More than 45,000 Palestinians have been killed in Gaza since the war began, according to the health ministry in the enclave.

This post appeared first on cnn.com

Editor's Pick

Finland investigates outage of undersea power link to Estonia, Finnish PM says

Finland’s Prime Minister Petteri Orpo said on Wednesday authorities in his country were investigating an undersea power cable outage on a line connecting Finland and Estonia.

An unplanned break in service on the Estlink 2 interconnector occurred at 1026 GMT, operator Fingrid said in a statement on the Nordpool regulatory web site, reducing its available capacity to 358 megawatts (MW) from an installed capacity of 1,016 MW.

“Even at Christmas the authorities are on standby to investigate the matter,” Orpo said in a post on X.

The interruption did not affect Finland’s electricity supply, he added.

Authorities in the region have been on high alert for potential acts of sabotage following a string of outages of power cables, gas pipelines and telecom links in the Baltic Sea in recent years, although subsea cables are also subject to technical malfunctions and outages caused by accidents.

“An investigation into the incident has been initiated,” Fingrid control room manager Arto Pahki said in a statement.

At the time of the outage the electricity had been flowing in the direction from Finland to Estonia at a rate of 658 MW, Fingrid said.

This post appeared first on cnn.com

Editor's Pick

At least 14 security personnel killed in ‘ambush’ by former Assad forces, new Syrian authorities say

At least 14 law enforcement personnel were killed in western Syria overnight in an “ambush” by the former forces of deposed leader Bashar al-Assad, the new interior ministry said on Thursday.

The attack in the countryside of the Tartus region also injured 10 officers, according to the ministry. It came hours after the new government’s military operations command said its forces killed “a besieged group of remnants of the former regime” in the same area.

The new authorities have set a deadline for former regime forces and gangs to hand over their weapons, less than three weeks after Assad fled the country as rebels advanced on the capital Damascus.

Syria’s military operations command said additional forces have been deployed “to establish security and hold accountable the remnants of the former regime who are trying to destabilize security and terrorize people in some areas of the Syrian coast.”

“We will not tolerate any criminal gang that seeks to undermine the security and safety of our people,” the director of public security in Latakia, a western governorate on the country’s Mediterranean coast, told state-run news agency SANA on Wednesday.

Footage by news agency Agence France-Presse filmed earlier last week showed former Assad regime security forces handing in their weapons to the rebel-linked transitional government in Latakia. Syrian state media reported that other cities in Syria, such as Daraa, have implemented similar schemes for returning weapons.

The new authorities also issued former regime forces temporary cards to give them freedom of movement in Syria while their “legal proceedings are completed,” according to a notice posted outside the government office, which can be seen in the AFP video. The notice gave no further details about the legal proceedings.

The Assad regime and the Syrian forces that served his government were responsible for many atrocities as they cracked down on political dissent, including torture and ill-treatment of prisoners. More than 306,000 civilians in Syria were killed between the outbreak of the civil war in 2011 and March 2021, according to the most recent estimate by the UN.

The demonstrations took place about the same time as a video began circulating on social media that purports to show the desecration of a site in Aleppo that part of the Alawite community claims as a shrine.

The new interior ministry issued a statement acknowledging the incident, but said it occurred weeks ago, and that the perpetrators are unknown.

Syria’s Alawite community, which predominantly lives in coastal areas, was propelled to key political, social and military posts during the rule of Assad, and that of his father and predecessor Hafez.

The video shows fire blazing inside the shrine as four dead bodies lie outside on the ground, surrounded by several armed militants.

“We confirm that the circulating video is an old video dating back to the period of the liberation of the city of Aleppo, made by unknown groups, and that our agencies are working day and night to preserve property and religious sites,” the interior ministry said.

“The goal of re-publishing such clips is to stir up strife among the Syrian people at this sensitive stage.”

This post appeared first on cnn.com

Editor's Pick

Finland police investigate role of foreign ship after power cable outage

Finnish police said on Thursday they are investigating whether a foreign ship was involved in the damage of an undersea power cable connecting Finland and Estonia following a sudden outage on Wednesday.

Baltic Sea nations are on high alert for potential acts of sabotage following a string of outages of power cables, telecom links and gas pipelines since 2022, although subsea equipment is also subject to technical malfunction and accidents.

The 658 megawatt (MW) Estlink 2 power interconnector remains offline following the outage that began at midday local time on Wednesday, leaving only the 358 MW Estlink 1 in operation between the two countries, operator Fingrid said.

“The police, in cooperation with the Border Guard and other authorities, are investigating the chain of events of the incident,” Finnish police said in a statement.

Investigators were probing the potential role of a foreign ship, police said without naming the vessel.

Police in Sweden are meanwhile leading an investigation into the breach last month of two Baltic Sea telecom cables, in an incident German Defence Minister Boris Pistorius has said he assumed was caused by sabotage.

Separately, Finnish police continue to investigate damage
caused last year to the Balticconnector gas pipeline linking
Finland and Estonia, as well as several telecoms cables, and have said this was likely caused by a ship dragging its anchor.

In 2022 the Russia-to-Germany Nord Stream gas pipelines
running along the seabed in the same waters were blown up, in a case still under investigation by Germany.

This post appeared first on cnn.com

Economy

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

Economy

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Stock

MUST SEE Options Trade Ideas! DIS, AAPL, META, BA, LULU

In this video, after a rundown of the general markets and sectors, Tony brings you the latest options trade ideas. These include a number of bullish and bearish ideas, including DIS, AAPL, META, BA, LULU, and many more.

This video premiered on December 23, 2024.

Investing

SAGA Metals Announces Closing of $700,000 Private Placement and Receives Drill Permits for Double Mer Uranium and Radar Titanium-Vanadium Maiden Drill Programs

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSMINATION IN THE UNITED STATES.

Saga Metals Corp. (the ‘Company’ or ‘SAGA’) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce it has closed its previously announced non-brokered private placement (the ‘ Private Placement ‘) of standard flow-through units (the ‘ Standard FT Units ‘) and Québec flow-through units of the Company (the ‘ QFT Units ‘ and, together with the Standard FT Units, the ‘ FT Units ‘). The Company issued 975,610 Standard flow-through units at a price of $0.41 per Standard FT Unit for gross proceeds of $400,000.10 and 697,675 QFT Units at a price of $0.43 per QFT Unit for gross proceeds of $300,000.25, for aggregate gross proceeds of $700,000.35.

Financing Overview:

Each FT Unit consist of one flow-through common share (a ‘ FT Share ‘) as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘ Tax Act ‘), and one-half of one transferable common share purchase warrant (each whole such warrant, a ‘ Warrant ‘). Each Warrant will entitle its holder to purchase one common share in the capital of the Company (a ‘ Warrant Share ‘) at a price of $0.50 until December 23, 2026. The Warrants and the Warrant Shares underlying the Warrants will not qualify as ‘flow-through shares’ under the Tax Act.

In connection with the closing of the Private Placement, the Company paid cash finder’s fee in the amount of $49,000 and issued 117,129 non-transferable compensation warrants, with each compensation warrant exercisable to acquire one common share in the capital of the Company at a price of $0.41 until December 23, 2026.

All securities issued in connection with the Private Placement are subject to a hold period of four months and one day pursuant to applicable securities laws. The FT Shares, Warrants, Warrant Shares, compensation warrants and any shares issued on exercise thereof are subject to a hold period and may not be traded until April 24, 2025 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

The gross proceeds from the FT Shares, sold as part of the sale of the FT Units, will be used by the Company for ‘Canadian exploration expenses’ that are ‘flow-through critical mineral mining expenditures’ (as such terms are defined in the Tax Act) on the Company’s flagship asset, the Double Mer Uranium project on the east coast of Labrador, Canada, and exploration on its other primary asset, the Amirault Lithium Property located in Québec’s Eeyou Istchee James Bay region.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘), or any state securities laws, and may not be offered or sold, within the United States, unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.

No securities regulatory authority has reviewed or approved of the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of SAGA in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Receipt of Drill Permits for Double Mer Uranium and Radar Ti-V Projects:

In addition, the Company reports receipt of drill permits from the Newfoundland & Labrador government to commence drilling at the Double Mer Uranium Project and Radar Titanium-Vanadium (Ti-V) project. The Standard FT Unit component of the financing enables to Company to approach Q1 2025 with two strategic drill programs setting the stage for results from two projects within SAGA’s portfolio.

Key Highlights:

Maiden Drill Program: Drilling is scheduled to commence in Q1 2025 with a minimum 1,500m program at both projects.
Double Mer Uranium Drilling Location: This drill program will systematically grid and evaluate the anomalies of the Luivik zone, providing comprehensive data on its uranium potential.
Double Mer’s Luivik Zone Potential: The westernmost area of the 18km radiometric trend showcases potential for secondary fluid enrichment that can be conducive to uranium mineralization with 300m width and potentially a 1km strike containing samples up to 0.3692% U3O8 .
Radar Ti-V Drilling Location: The Hawkeye zone is the most advanced zone with both surface samples and detailed geophysics creating clear drill targets .
Radar’s Hawkeye Zone Potential: Assays have returned consistent values between 2.5 – 11.1% TiO2 and 0.2 – 0.66% V2O5 , confirming the presence of high-grade titanium and vanadium across a potential 1km wide and 4km long trend further confirmed with geophysics.

Double Mer Uranium Project:

The Double Mer Uranium Project is Saga Metals’ flagship project, covering 1,024 claims across 25,600 hectares in eastern-central Labrador, approximately 90 km northeast of Happy Valley-Goose Bay. Leveraging significant historical exploration data, SAGA’s exploration team validated key data and built upon the Company’s understanding of the project’s potential. This work has refined the understanding of the targets within the zone, specifically supporting the decision to initiate a 1500-2500m drill program the Luivik zone .

SAGA sees the Double Mer Uranium Project as a promising addition to the significant uranium projects already established in Labrador’s Central Mineral Belt (CMB) , including Paladin Energy’s Michelin and Atha Energy’s CMB discovery. With encouraging surface samples and geophysical data, SAGA believes Double Mer could offer comparable large-tonnage potential.

Figure 1: Regional map of the Double Mer Uranium Project in Labrador, Canada

The Luivik zone has been prioritized for drilling due to its anomalous uranium (U3O8%) geochemistry, along with clear signs of alteration and fluid enrichment. This zone exhibits Iron phase IOCG (Iron Oxide Copper Gold) fluid characteristics, such as high concentrations of smoky quartz and iron carbonate staining, which are indicators of late fluid flow. These characteristics will be carefully monitored as it can have the potential to enrich uraniferous units and mark the highest-grade intercepts. Consistent CPS (counts per second) readings further highlight the Luivik zone’s uranium potential, making it a top target for exploration.

The Luivik zone boasts a width of 300 meters between samples with a cut-off of 150 ppm U3O8 and anomalous grades over 1,100 ppm U308 to a high of 3,692 ppm U3O8 in a single sample. The Uranium count radiometrics suggest that the anomalous pegmatites which predominantly hosts the Luivik zone may extend upwards of one km or greater.

The zone’s favorable mineralogy is complemented by logistical advantages. Located just one kilometer from Double Mer’s main camp, the Luivik zone offers easy access for drilling teams, with snowmobile trails in place to support active drilling operations, ensuring both practical and cost-effective program execution.

Figure 2: The Luivik zone in the west of the Double Mer Uranium Property. Mapped pegmatites with amphibolite mafic rocks which sit in place with much of the mineralized trends.

Michael Garagan, CGO & Director of Saga Metals Corp. commented: ‘Drilling the Luivik zone which contains some of the most encouraging results, combined with less logistical challenges is the best starting spot for SAGA. We will be immediately looking to build off this winter program by getting permits ready to continue to test zones further east such as the Nanuk and Katjuk zones in Q2 and Q3 of 2025. We are aiming to confirm uranium concentrations and take initial steps in delineating this zone’s potential as a critical step in positioning Double Mer as a quality project in Labrador’s large-tonnage uranium landscape.’

Radar Ti-V Project:

The Radar Ti-V Property is located 10km south of Cartwright in Labrador, Canada. The project spans 17,250 hectares and benefits from road access, supporting efficient exploration and development.

Figure 3: Map of the Radar Ti-V project and its proximity to the town of Cartwright, Labrador

The Hawkeye zone is the most prospective target on the property. Detailed geophysics and surface samples are suggestive of a complex and phased layered mafic intrusion that may be upwards of 1km wide and 4 km long. Recent geophysics completed on the property show very detailed correlation to the rock samples and observed phase changes in the system.

Increased immiscibility in the east creates pronounced silica rich (magnetite depleted) banding mixed interstitially with high grade massive magnetite layers above ( 5-11.1 % TiO2 & 0.3-0.66 % V205% ). This first phase can be identified by the contact of low magnetics bands (blue) and highly magnetic bands (red, pink) (see Figure 4 below). After the high-grade banding the rocks transition into a gabbro norite rock moving westwards which contains a disseminated magnetite groundmass. These rocks are lower grade averaging (3-5% TiO2) & (0.1-0.2% V2O5) but are consistent and extensive in width. The entirety of these cross-system phases is almost 1km wide with a near vertical dip of each layer.

SAGA aims to complete a 1,500m drill program at the Hawkeye zone over the area encompassing the anomalous TiO2 and V2O5 surface samples and targeted geophysics segment as shown in Figure 4 below.

Figure 4: Geophysics completed over a targeted area within the Hawkeye Zone increasing width to 1km and a projected 4km strike

Michael Garagan, CGO & Director of Saga Metals Corp. further commented: ‘The decision to run back-to-back drill programs and include the Radar project is strategic and efficient as we are always looking to maximize our cost-effectiveness and shareholder value. We’ve engaged Gladiator Drilling out of south-eastern Labrador. Both the drilling and geological teams will be able to drive right into the Hawkeye zone for a 3-week program prior to the Double Mer Uranium drill program. SAGA will be able to enter Q2 with drill results from two projects, setting the stage for a very active 2025 field season.’

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company’s flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18-kilometer east-west trend, with a confirmed 14-kilometer section producing samples as high as 4,281ppm U ₃ O ₈ and spectrometer readings of 22,000cps.

In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.

SAGA also holds secondary exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com

Qualified Person

Peter Webster P.Geo. CEO of Mercator Geological Services Limited is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Double Mer Uranium Project and Radar Ti-V Project disclosed in this news release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s plans and objectives in respect of the gross proceeds from the Private Placement as well as the prospective nature of the Double Mer Uranium and Radar Titanium-Vanadium Projects and future exploration programs. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company’s final prospectus in Manitoba and amended and restated final prospectus for British Columbia, Alberta and Ontario dated August 30, 2024, filed under its SEDAR+ profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8a56795f-d011-4929-a207-955c92da507e

https://www.globenewswire.com/NewsRoom/AttachmentNg/c5509c3f-aee5-4a0b-9e70-2c396ea67922

https://www.globenewswire.com/NewsRoom/AttachmentNg/0b5fe5a7-4301-48d9-be70-4dded8acc9d5

https://www.globenewswire.com/NewsRoom/AttachmentNg/6e515a5e-646b-44f2-b807-4d034a0af375

News Provided by GlobeNewswire via QuoteMedia

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Investing

Oil and Gas Price Forecast: Top Trends That Will Affect Oil and Gas in 2025

In 2024, the oil and gas markets were shaped by several significant trends including shifting demand, geopolitical turmoil and rising production.

As the two key oil benchmarks (Brent and West Texas Intermediate) struggled to maintain price gains made throughout the year the natural gas market was able to register a 55 percent increase between January and the end of December.

Starting the year at US$75.90 per barrel Brent Crude prices rallied to a year-to-date high of US$91.13 on April 5, 2024. Values sunk to a year-to-date low of US$69.09 on September 10. By late December prices were holding in the US$72.40 range.

Similarly, WTI started the 12-month period at US$70.49 and moved to a year-to-date high of US$86.60 on April 5. Prices sank to a year-to-date low of US$65.48 in early September. In late December values were sitting at the US$69.10 level.

While both oil benchmarks contracted by year’s end, natural gas made a late rally achieving its year-to-date high of US$3.76 per metric million British thermal units on December 24.

What trends impacted natural gas in 2024?

Although prices were able to register a late year rally, prices remained under pressure for the majority of 2024. Natural gas prices fell to a year-to-date low of US$1.51 in February, shortly after the Biden administration enacted a moratorium on new liquefied natural gas (LNG) projects in the country.

For Mike O’Leary, partner at Hunton Andrews Kurth, the president’s decision added further strain to the oversupplied market.

He continued: “And with the moratorium imposed by the administration this year on LNG facilities, it’s just exacerbating that, that that glut, for the time being, until at some point that hopefully the moratorium will be lifted, and we’ll see more LNG facilities under construction.”

Hope that the moratorium would be lifted was further dampened in mid-December when the Department of Energy (DoE) released a study on the environmental and economic impacts of LNG exports, assessing their effects on domestic prices, supply, and greenhouse gas emissions.

The DoE analysis highlights a triple cost increase for US consumers from rising LNG exports: higher domestic natural gas prices, increased electricity costs, and higher prices for goods due to manufacturers passing on elevated energy expenses.

‘Special scrutiny needs to be applied toward very large LNG projects. An LNG project exporting 4 billion cubic feet per day – considering its direct life cycle emissions – would yield more annual greenhouse gas emissions by itself than 141 of the world’s countries each did in 2023,” the report read.

This latest development isn’t the only trend impacting US LNG producers.

“A series of warmer-than-expected winters has led to a large supply glut,” explained Ernie Miller, CEO of Verde Clean Fuels (NASDAQ:VGAS). “Natural gas suppliers need to work off those inventories – and see prices return to more rational levels – before they could even think of increasing production.”

After soaring to a 10 year high of US$9.25 in September of 2022 prices have been trending lower, trapped below US$4.00 since early 2023.

“Natural gas is dealing with a severe oversupply problem that has kept a tight lid on prices, and the only sector within natural gas that has held up well is LNG, which is a very small part of the overall gas market,” said Miller.

What trends impacted oil in 2024?

Oil prices exhibited volatility through the year but found support by ongoing production cuts from OPEC+ and steady demand recovery in key economies. US oil production reached a record-high of 13.2 million barrels per day, reflecting resilience despite challenges such as declining rig counts.

Geopolitical tensions, including the Israel-Hamas conflict, added uncertainty to global supply chains.

Meanwhile, Chinese oil demand softened, with lower-than-expected economic performance dampening consumption growth. In contrast, Europe continued its push for renewable energy while navigating supply challenges tied to Russian sanctions.

In the US Trump’s election victory and his repeated campaign exclamations of “Drill, Baby Drill” added optimism to the sector, although as FocusEcnomics Editor and Economist Matthew Cunningham pointed out it could be easier said than done.

“Politicians’ rhetoric often divorces from reality, and in Trump’s case this is no different. He probably will succeed in boosting domestic production of oil and gas, by issuing more leases for drilling on federal land and scrapping environmental regulations. Nonetheless, he is unlikely to boost output by as much as his “drill, baby, drill” comment indicates,’ said Cunningham.

He added: “Historically, the power of US presidents to influence oil and gas production has been dwarfed by that of the market: Ultimately, the price of oil and gas will determine if American shale firms will drill. Our Consensus forecast is currently for U.S. crude production to rise by 0.7 million barrels next year, about 3 percent of 2024 output.”

This sentiment was echoed by Miller, whose company Verde Clean Fuels makes low carbon gasoline.

“While President-elect Trump is likely to remove restrictions from oil producers, it doesn’t mean those producers will necessarily be drilling more wells or increasing domestic production. With oil prices hovering around US$70 a barrel – down from US$85 in the spring – oil companies don’t want to create an oversupply scenario driving prices even lower,’ said Miller.

Regardless of Trump’s directive producers will likely remain prudent.

“The major oil companies have learned hard lessons from previous cycles, that they need to maintain discipline and a strong balance between supply and demand so they can protect their margins,” Miller added

O’Leary also thinks Trump’s campaign promises, if followed through, could add more price volatility to the market.

“Even though he said that the energy companies here in the States realize they don’t really want to open the spigots, because that’s going to drive the price down,” said O’Leary.

“If the US did that and overproduced OPEC would say, well, we need to defend our market share, so they might just go ahead and open their spigots up, and that would further drive the price down,” he said, adding that Trump’s pro-energy stance could result in more capital for the sector.

Trump’s tough tariff talk

Shortly after winning the US election the president-elect began touting 25 percent tariffs aimed at ally nations Canada and Mexico.

Over several decades trade between the three nations has become increasingly interconnected adding tariffs to all or some goods and services could weaken continental relations and result in an escalating back and forth.

In 2023, the US imported 8.51 million barrels per day (b/d) of petroleum from 86 countries.

Canada and Mexico topped the list of countries with Canada supplying 52 percent and Mexico 11 percent.

“There’s a lot of concern that if the oil and gas sector is not exempt, and he has said nothing about exempting it, that that could drive the prices up for the consumers here in the in the country and do just the opposite of what I think Trump really wants to do, which is to fight inflation,” said O’Leary.

As FocusEconomics editor and economist Cunningham pointed out we could see a repeat of the 2018 trade war if the tariffs are enacted, which would ultimately hurt the US oil and gas sector.

“During the 2018 trade war with China, Chinese buyers of oil and gas erred away from purchasing U.S. supplies of the fuel. US oil prices fell relative to European ones, and US liquified natural gas exports to China fell to zero after Beijing hiked tariffs on the fuel to 25 percent,” said Cunningham.

In October, FocusEconomics surveyed 15 economists on whether Trump would implement a 10 percent –20 percent blanket tariff on imports and two-thirds responded that he will, he added.

Geopolitical uncertainty

Looking to the year ahead our experts see geopolitics as a major trend to watch.

“As in recent years, wars in the Middle East and Eastern Europe will continue to support oil and gas prices by unsettling trade flows and raising the risk of supply disruptions. That said, it seems likely that conflicts in both regions will come closer to winding down in 2025 than at the start of 2024,” said Cunningham.

Israel has largely dismantled Hamas’ leadership, while Ukraine faces potential negotiations with Russia following recent military setbacks and Donald Trump’s re-election, given his focus on brokering a deal. These developments could exert downward pressure on oil and gas prices in the coming year, he went on to explain.

Due to these factors FocusEconomics panelists have cut their forecast for average Brent prices in 2025 by 7.6 percent.

Miller expects some volatility, but moreover resilience in the energy sector.

“The largest spikes in volatility we’ve seen are directly related to the war in the Middle East. However, interestingly, those spikes have been very short-lived, and prices settled back and have been drifting lower for months,’ he said. “I think it’s fair to say that, by and large, global energy markets have been remarkably resilient, considering there are two wars going on. That stability has worked as a bit of a tailwind for economies because oil is among the largest expenses for many industries, including air travel and trucking.”

For O’Leary, this year’s geopolitical shifts, notably the Ukraine war, have reshaped global energy dynamics. Europe, aiming to reduce reliance on Russian energy, has turned to the global market, securing LNG supplies from the U.S. and Australia. This has increased LNG demand but hasn’t significantly lifted natural gas prices, which remain low.

Meanwhile, companies pursuing greener energy strategies are reassessing due to high costs, with some shifting focus from green hydrogen, produced via electrolysis, to blue hydrogen derived from natural gas, which is more cost-effective.

Oil and natural gas trends to watch in 2025

Oil and gas market watchers should be on the lookout for more uncertainty as we enter 2025.

O’Leary is keeping an eye on the growing energy demands of data centers and AI are straining power grids, spurring interest in solutions like hydrogen, nuclear power, and co-located facilities. However, delays in permitting new energy infrastructure, such as LNG facilities and pipelines, remain a significant hurdle.

Geopolitically, he sees the Ukraine war’s resolution stabilizing oil and gas markets, though Europe is unlikely to fully trust Russia as an energy supplier again.

Miller will be watching OPEC+ decisions and actions, as they continue to influence global oil supply dynamics.

Additionally, the performance of major economies across the US, Europe, and Asia will also play a critical role in shaping demand. Seasonal weather conditions could have a significant impact, particularly if the US and Europe experience a colder or warmer-than-usual winter. Lastly, any major geopolitical developments involving oil-producing nations could cause unexpected shifts in the market.

Economist Cunningham pointed to several trends that investors should be mindful of.

“Black swan events—those that are rare and difficult to predict, like the wars in Gaza and Ukraine—are, by their unforeseen nature, some of the primary movers of volatility in oil and gas markets,” said Cunningham. “Donald Trump, who styles himself as a master dealmaker, is the main wild card. Trump likes to cloak himself in the guise of a black swan—a “madman” à la Nixon—that is hard to read and will push his interlocutors to the brink in order to force them to accept his terms.”

He warns that trade wars would send energy prices plunging, while tighter sanctions on oil-producing Iran and Venezuela—two of Trump’s bugbears—could send them higher.

The oil market faces uncertainty on both supply and demand fronts in 2025, he explained.

OPEC+ cohesion is under pressure as competition from non-member producers rises, with the group planning to increase production starting in April. On the demand side, emerging Asia is expected to drive crude consumption, though China’s economic performance remains a key variable. Additionally, the potential global economic impact of Donald Trump’s re-election looms.

Analysts predict a slight slowdown in global GDP growth in 2025, with both China and the US set to decelerate.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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Progress Update on Hydrogen Supply Chain and Prototype Tank Activities

Provaris Energy Ltd (Provaris, ASX.PV1) is pleased to provide an update on recent progress towards its priority activities in Norway aimed at developing Hydrogen Supply Chains into Europe and advancing the Company’s proprietary hydrogen carrier.

HIGHLIGHTS:

Significant progress made on finalising a Term Sheet with Uniper and Norwegian Hydrogen for a Hydrogen Sale and Purchase Agreement (SPA) outlining key commercial terms, including targeting a 10-year offtake for over 40,000 tonnes per annum of hydrogen. Execution is imminent and expected to be executed after the European winter holiday period.
Completion of the Fiska Facility sale expected around 1st January 2025 will enable Provaris to move forward with a lease agreement with the new owners and finalise the purchase of robotic laser- welding requirement to restart its Prototype Tank fabrication and testing program.

Term Sheet for Hydrogen Supply and Offtake progressing towards execution

During December 2024, Provaris , together with Uniper and Norwegian Hydrogen, made significant strides towards the finalization of a Term Sheet that outlines the key terms for negotiation of a long term Hydrogen SPA. This agreement targets a 10-year offtake contract for over 40,000 tonnes per annum of renewable green hydrogen from the Nordics to Germany.

The Term Sheet represents a critical milestone in Provaris’ plans to establish reliable, long term, and low cost hydrogen supply utilising Provaris’ proprietary H2Neo carriers and H2Leo barge technology.

The completion of the Term Sheet is imminent however final execution may be slightly delayed by the winter holiday period in Europe, which concludes on 2 January 2025. The Term Sheet also supports discussions established with shipyards for newbuilds and shipowners for Time Charter of the carriers.

Provaris and Uniper continue to focus on optimal shipping, compression, and import terminal solutions in North-West Europe, ensuring a flexible and efficient transport network. The collaboration with Norwegian Hydrogen, including the Fjord H2 project and other Nordic sites, aims to provide RFNBO-compliant hydrogen delivered in compressed form. These initiatives support Uniper’s hydrogen portfolio requirements and align with Provaris’ vision of delivering cost-effective, low-emission supply chains from production to end-user markets.

Restart of Prototype Tank Program at Fiskå Facility and completion of final Class Approvals.

Provaris has maintained regular engagement with the secured lenders and their appointed Advisor regarding the ongoing sale process of the Fiskå Facility and associated assets. While the process has taken longer than initially anticipated progress has been achieved over the past 6 weeks with finalization and title transfer to the new owner anticipated on or around 1st January 2025.

Securing a lease agreement for a portion of the Fiskå Facility’s production floor and associated office space will provide for a resumption of the Prototype Tank fabrication and testing program. The lease is close to finalization and will provide ample room for future growth, including the potential production of small-scale hydrogen storage tanks that can be an important step towards improving the operational economics for industrial hydrogen users.

Concurrently, Provaris has advanced negotiation of the key terms for an asset purchase agreement to acquire the installed Production Cell (including robotic arms, laser-hybrid welding equipment, pedestals, jigs and related tools) essential for the Prototype Tank construction. Owning these valuable production assets and associated intellectual property will strengthen Provaris’ manufacturing capabilities in Norway and potential licensing opportunities within Europe and Asia.

Click here for the full ASX Release

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