Aramco CEO Says Energy Market May Not Normalize Until 2027 Amid Billion-Barrel Supply Shock

US Firm Takes Control Of One Of The "World's Largest" Cobalt Producers An American company has secured control of one of the largest cobalt producers outside Chinese ownership, delivering a strategic boost to U.S. efforts to compete with Beijing over critical minerals, according to the Wall Street Journal. The buyer, Virtus Minerals, completed its acquisition of Congo-based Chemaf for $30 million, along with a pledge to invest roughly $720 million. The deal caps a years-long push, spanning both the Biden and Trump administrations, to ensure U.S. access to cobalt resources in...

"Lot Of Questions On Structure:" Goldman Reacts To Old Bay Maker's Bid For Unilever Food Unit Bloomberg reported earlier this week that Unilever Plc was in early talks to sell its food business - a move that would end its competition with major packaged-food rivals, including Nestlé, PepsiCo, and Kraft Heinz. By Friday morning, Unilever stated in a press release that, despite "media speculation regarding a potential transaction involving its Foods business," it had, in fact, received an "inbound offer" for the unit from Hunt Valley, Maryland-based McCormick & Company. "Unilever confirms...

Goldman Sachs Warns Oil Inventory Rebuild Won’t Prevent 2027 Supply Glut The global race to rebuild depleted oil inventories will not be enough to offset a massive glut that’s coming to the market next year, as traffic through the Strait of Hormuz appears to be headed toward normalization, according to Goldman Sachs commodity strategists.   First, arguing the bullish side, stockpiles of crude and refined petroleum products in many parts of the world have been depleted to multi-decade lows after governments raced to release strategic stockpiles in March after the Middle...