US Ex-Im Bank May Fund Greenland Rare Earths Mine, Reuters Says
The US Export-Import Bank is considering providing up to $120 million for a rare earths project by Critical Metals Corp. in Greenland, Reuters reported Sunday, citing a letter of interest.
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Russian oil freight rates to India ease further, proposed EU curbs may reverse trend
MOSCOW (Reuters) -IFreight rates for Russian oil shipments from the Baltic ports to India eased further in the period from late May to early June, thanks to high tanker availability, but the trend may reverse if Europe's proposed lower price cap comes to fruition. The European Union has put forward a new sanction package against Russia over Ukraine and proposed to lower the Group of Seven nations' price cap on Russian crude oil to $45 a barrel from $60 a barrel. The G7 countries and the EU, imposed the $60 cap on Russian oil in late 2022, restricting access to Western shipping and insurance services for above-cap purchases in a bid to curb Moscow's revenues. However, as the price of Russia's flagship Urals crude has fallen below the cap, Western shipowners have been able to return to its oil market. Urals crude price estimates in Russia's ports have stabilised below $60 per barrel since early April, allowing more Western shipping companies, primarily Greek, to resume shipping services, increasing tanker availability and putting freight rates under pressure. By Wednesday, the cost of Urals oil loaded from the Baltic Sea port of Primorsk was about $54.72 per barrel. The cost of shipping Urals oil from the Baltic ports, including Ust-Luga, to India fell to between $5.5 million and $5.7 million from about $6 million per one-way shipment on average in April and May, and about $8 million early in March. Russian crude shipping rates rose sharply after a new round of U.S. sanctions on Russian energy interests unveiled in January took effect. Russian oil sellers were forced to look for new tankers to replace those hit by sanctions. Freight rates still remain above levels in January, when the cost of shipping Russian crude from the Baltic ports to India was between $4.7 million and $4.9 million per one-way shipment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNET
29 minutes ago
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Score $250 Off Google's Flagship Pixel 9 Pro XL While You Still Can
When you're shopping at the high end of the Android phone market, the Google Pixel 9 Pro XL is one option you should definitely consider. It's fast, has a huge display, and gets all the latest Android updates as soon as possible. And right now, Best Buy is offering the flagship phone with a huge $250 discount. This deal means that you can now get the 128GB model for just $849, rather than the usual $1,099. Need more space? The 256GB version is just $949, down from the usual $1,199. Both deals are part of a larger Android savings event that Best Buy is running, so check the full collection out if you don't want to go the Pixel route. The Google Pixel 9 Pro XL comes with a huge 6.8-inch display that looks stunning whether you're inside or outdoors, even in bright sunlight. It packs a 42-megapixel front-facing camera for great selfies, while the main rear camera uses a 50-megapixel sensor. That's backed up by 48-megapixel telephoto and ultrawide cameras. Wireless connectivity includes support for the latest Wi-Fi 7 technology, while both wired and wireless charging are supported. As we've come to expect from modern flagship phones, the Pixel 9 Pro XL is IP68 dust and water resistant, so you need not worry about trips to the beach or pool. Hey, did you know? CNET Deals texts are free, easy and save you money. Fans of AI will enjoy a ton of Google features, not least the Gemini assistant. AI-powered features can also be found throughout Android, including phone call screening and advanced image-editing options. This phone is, of course, unlocked so can be used on all major US carriers, including Verizon, AT&T and T-Mobile. Alternatively, you can use it with prepaid carriers including Cricket Wireless, MetroPCS, Google Fi, Total Wireless, Tracfone and Mint. Why this deal matters Getting a Pixel phone means you'll get all of the latest Android improvements and features first. The Pixel 9 Pro XL is also at the top of its game with fast performance, a stunning display and all of the AI features that you could possibly want. The chance to pick one up for just $849 shouldn't be ignored, especially if you're in the market for a new, premium phone already.
Bloomberg
30 minutes ago
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Rapidan's McNally Sees $3-5 Upside Risk to Oil
Bob McNally, Rapidan Energy Group Founder & President, says he easily sees $3 to $5 upside risk in oil prices, with the tensions between Iran and Israel likely to continue and potentially expand. He added that the US regime is concerned about the inflationary pressure of elevated oil prices, especially if they hit around $120 a barrel, something he described as potentially as "devastating price spike." He spoke with Dani Burger on Bloomberg Brief. (Source: Bloomberg)
