Trump Toughens Terms Of Iran Deal Framework, As Bessent Pinpoints Tehran's 'Big Mistake'

Nickel Jumps As Indonesian Output Cut Stokes Supply Fears Nickel prices on the London Metal Exchange surged as much as 2.6% to $19,050 a ton after Shanghai Metals Market said upwards of 15% of high-grade nickel pig iron capacity at Indonesia's Weda Bay Industrial Park will undergo rotational maintenance in the coming months, according to Bloomberg. Indonesia's Weda Bay Industrial Park is one of the most important nickel-processing hubs in the world and serves a large cluster of smelters that produce nickel pig iron, a key input for stainless steel...

Three Fed Officials Explain Why They Dissented, Blasting Fed's "Easing Bias" This morning, three Fed officials said they dissented over this week’s policy statement because it was no longer appropriate to signal the Fed’s next move was still likely to be an interest-rate cut. “I believe the FOMC should offer a policy outlook that signals that the next rate change could be either a cut or a hike, depending on how the economy evolves,” Minneapolis Fed president Neel Kashkari said in an essay released on Friday morning. “This could tighten financial conditions somewhat today,...

China Eyes Iran's Postwar Reconstruction In Bid To Lock Up Future Oil Supplies Beijing is positioning itself to lead the post-war reconstruction effort in Tehran - a move analysts suggest could secure China long-term access to critical Iranian oil reserves. The diplomatic groundwork was laid during a recent meeting in New Delhi between Chinese Foreign Minister Wang Yi and the deputy secretary of Iran's Supreme National Security Council, according to Nikkei Asia. The talks underscore China's broader strategy to expand its economic and diplomatic footprint in the Middle East amid the...