MARKET MOVEMENTS:
— Brent crude oil rises 0.2% to $64.23 a barrel.
— European benchmark gas is flat at 35.39 euros a megawatt-hour.
— Gold futures are up 1.8% to $4,677.90 a troy ounce.
— LME three-month copper futures are up 1.1% to $12,963 a metric ton.
TOP STORY:
Precious Metals Climb as Trump Plans Tariff on European Countries Over Greenland
Precious metals climbed Monday after President Trump threatened 10% tariffs on imports from eight European countries starting February.
"Trump's latest tariff announcement has escalated trade tensions into an entirely new dimension--one driven less by economic logic and more by political motive," two members of ING's economic and financial analysis division said in a research note.
"It is also pushing the long-standing transatlantic relationship into a severe crisis, with a clear risk of further escalation and unwarranted negative consequences for both Europe and the US economy," ING added.
OTHER STORIES:
Kidnapping and $12 Billion Battle Hang Over Conoco Return to Venezuela
The man in charge of Conoco's Venezuela operations looked up to see a gun pointed at his driver's head.
It was early 2002 and Roger Ramshaw and his wife had just landed at the airport in Venezuela's capital, Caracas. Within seconds of entering their private car, the couple was kidnapped and a masked gunman ordered Ramshaw to take him to their apartment so he could steal their cash-or else.
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Dynacor 2025 Sales Seen Ahead of Guidance, Sets Growth Targets for 2026
Dynacor Group expects to report strong sales and gold production for 2025, and said it projects more growth in 2026 as new plants in Ecuador and Senegal begin contributing.
The Montreal-based gold company said Monday that it produced 32,838 gold-equivalent ounces in the fourth quarter, helping lift full-year output to 113,791 ounces, above its revised guidance.
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Barrick Appoints Helen Cai as Chief Financial Officer
Barrick Mining named director Helen Cai as its next chief financial officer, succeeding Graham Shuttleworth, who has been in the role since the miner's acquisition of Randgold Resources seven years ago.
Cai will become senior executive vice president and finance chief on March 1, when Shuttleworth leaves Barrick following the release of its year-end financial results.
MARKET TALKS:
Copper Rises in Spite of Softer Dollar, Trade Concerns -- Market Talk
1709 GMT - Copper prices rise despite a softer U.S. dollar and renewed trade concerns, with futures on the London Metal Exchange up 1.1% to $12,9670 a metric ton. Gains in recent weeks have been driven by heavy stockpiling in the U.S. due to fears of potential U.S. tariffs on the refined metal and a series of mine disruptions. However, sentiment was tempered after President Trump said he would impose 10% tariffs on imports from several European countries to pressure Denmark into selling Greenland to the U.S., stoking concerns that escalating trade tensions could weigh on global economic growth and metals demand. Gains were also capped by regulatory curbs in China, after authorities ordered exchanges to remove high-frequency trading servers from their data centers, cooling a rally fuelled by strong Chinese investor demand, according to ANZ analysts. (giulia.petroni@wsj.com)
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Oil Trims Losses But Remains Pressured by Trade Risks, Easing Supply Concerns -- Market Talk
1455 GMT - Oil prices pare earlier losses as traders closely monitor the escalating standoff over Greenland. Brent crude is down 0.3% to $63.94 a barrel, while WTI slips 0.2% to $59.3 a barrel after both benchmarks fell about 1% earlier in the session. Sentiment remained under pressure after President Trump threatened to impose a 10% tariff on some European nations from Feb. 1, reviving concerns that a renewed trade dispute could weigh on global demand. "Additional tariffs could weigh on global growth expectations and reduce confidence in the demand outlook for crude," Christopher Tahir from Exness says. Meanwhile, "easing near-term supply fears from Iran helped drive prices down, after reports that U.S. actions in the region have been put on hold, lowering the perceived risk of an immediate disruption." (giulia.petroni@wsj.com)
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Palm Oil Falls on Softer Soybean Oil -- Market Talk
1014 GMT - Palm oil prices ended lower, tracking weakness in soybean oil on the Chicago Board of Trade overnight, Kenanga Futures says in a note. Prospects of profit-taking after the recent rally are also weighing on market sentiment, it adds. Kenanga Futures pegs support for CPO futures at 4,000 ringgit/ton and resistance at 4,115 ringgit/ton. The Bursa Malaysia Derivatives contract for April delivery closed 3 ringgit lower at 4,069 ringgit/ton. (amanda.lee@wsj.com)
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Shell Selling LNG Canada Stake Wouldn't Make Immediate Strategic Sense -- Market Talk
1007 GMT - Shell has a strong balance sheet and no real short-term need for cash, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write after an unconfirmed report that the U.K. energy major is considering selling a stake in its LNG Canada project. A sale would seem slightly odd given the asset is one of Shell's flagship projects, they write. Anyone buying the stake would likely take over operating the asset, they add. The sale raises questions as to what Shell could use the proceeds for, they say. They aren't convinced selling assets in a bid to maintain its buyback will appeaseinvestors, particularly since demand for oil and gas in coming years is widely expected to be more resilient than initially anticipated, they write. Shell's shares fall 0.75% to 2,732 pence. (adam.whittaker@wsj.com)
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European Gas Prices Fall After Last Week's Rally -- Market Talk
0928 GMT - European natural-gas prices fall on profit-taking and prospects of additional LNG supply after last week's rally. The benchmark Dutch TTF contract falls 7.8% to 34.01 euros a megawatt hour in early trading after rising above 37 euros for a weekly gain of nearly 30%. Prices soared on forecasts for colder-than-usual weather toward the end of January and below-average inventory levels across the region. However, "the rally in the European market has seen gas prices in the region trade at a premium to Asian LNG," analysts at ING say. This should bring additional LNG supply into Europe, helping to ease some of the growing tightness worries, the analysts add. (giulia.petroni@wsj.com)
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European Energy Stocks Slip as Brent Falls on Risk-Off Sentiment -- Market Talk
0905 GMT - European energy stocks fall in opening trade as sentiment sours on President's Trump threat to impose tariffs on imports from eight European countries. A risk-off approach pushes Brent crude down 1.1% at $63.43 a barrel. WTI, however, is up 0.4% at $59.44 a barrel. In London, BP falls 1% while Shell drops 0.45%. France's TotalEnergies slides 1%, Spain's Repsol drops 0.9% and Italy's Eni falls 0.7%. (adam.whittaker@wsj.com)
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Crude Futures Fall on Trade Concerns, Easing Supply Fears -- Market Talk
0853 GMT - Oil prices fall on a broader risk-off tone across markets after President Trump vowed to impose tariffs on several European countries in an effort to pressure Denmark to sell Greenland to the U.S. Meanwhile, with no further escalation in U.S.-Iran tensions over the weekend, concerns about supply disruptions subsided. In early trading, Brent crude is down 1.1% to $63.42 a barrel, while WTI slips 1% to $58.82 a barrel. "Structurally, crude remains under pressure from expectations that supply will outpace demand this year, although pockets of tightness persist, including shortages from Kazakhstan due to Black Sea disruptions," says Soojin Kim from MUFG. (giulia.petroni@wsj.com)
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Precious Metals Climb After Trump's Tariff Threats Spur Haven Demand -- Market Talk
0842 GMT - Precious metals surge to fresh records, driven by investor demand for safe-haven assets after President Trump said he would impose import tariffs on several European countries in a push to take over Greenland. In early trading, gold futures in New York rise 1.7% to $4,673.80 a troy ounce, having touched $4,698 earlier in the session. Silver climbs 5.1% to $93.10 an ounce after hitting a high of $94.37. Trump's move risks upending a landmark trade deal reached with the EU last year, raising concerns about trade disruption and geopolitical instability. "Combined with ongoing Iran risks, concerns about Fed independence, and investor aversion to the dollar and U.S. government bonds amid rising fiscal debt worries, the underlying demand for hard assets remains firm," Saxo Bank analysts say. (giulia.petroni@wsj.com)
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Miners Rise as Precious Metals Climb on U.S. Tariff Threat -- Market Talk
0833 GMT - London and South African miners trade up as precious metal prices climb on President Trump's threat to impose 10% tariffs on imports from eight European countries. This triggers a flight to safety among investors and pushes gold and silver to highs overnight. In New York, gold futures are up 1.8% at $4,676.80 a troy ounce while silver trades up 5.3% at $93.260 an ounce. In London, silver and gold miner Fresnillo leads the FTSE 100 index and trades up 5.3%. Endeavour Mining is the index's second largest gainer, up 2.5%. Hochschild Mining rises 0.6%. In Johannesburg, Harmony Gold rises 3% and Gold Fields rises nearly 2%. (adam.whittaker@wsj.com)
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Retail, Institutional Demand to Keep Fueling Gold, Silver Prices -- Market Talk
(MORE TO FOLLOW) Dow Jones Newswires
January 19, 2026 12:26 ET (17:26 GMT)
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