Ubs News

The Iran war is upending the global LNG outlook as soaring prices, damage to major supplier Qatar's export infrastructure and potential delays to new supply raise doubts about previously expected demand from price-sensitive Asian buyers.Before the war, analysts expected global liquefied natural gas supply to rise as much as 10% this year to between 460 million and 484 million metric tons as new capacity, mainly in the U.S. and Qatar, came online, with demand forecast to grow in tandem.Now…

Oil prices edged up on Monday as investors weighed the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases.Brent crude futures settled 90 cents, or 1.33%, higher at $68.65 a barrel. U.S. West Texas Intermediate crude was at $63.75 a barrel, up 86 cents, or 1.37% at 2:14 p.m. EST (GMT 1914). The contract did not have settlement on Monday because of the U.S. Presidents Day holiday.Fears of supply disruption from the U.S.-Iran tensions have helped keep oil prices stable…

Oil prices rose more than 1% on Monday after the U.S. Department of Transportation issued an advisory to U.S.-flagged vessels to stay as far as possible from Iranian territory while voyaging through the Strait of Hormuz and Gulf of Oman.Brent crude oil futures were up 89 cents, or 1.3%, at $68.94 a barrel by 11:24 a.m. EST (1624 GMT). U.S. West Texas Intermediate crude rose 83 cents, or 1.3%, to $64.38.The U.S. DOT's Maritime Administration agency noted that vessels going through the Strait of Hormuz and Gulf of Oman have historically faced the risk of being boarded by Iranian forces…

Oil prices climbed about 3% to a five-month high on Thursday on rising concerns that global supplies could be disrupted if the U.S. decides to attack Iran, one of the biggest crude producers in OPEC.Brent futures rose $2.10, or 3.1%, to $70.50 a barrel by 11:07 a.m. EST (1607 GMT), while U.S. West Texas Intermediate (WTI) gained $2.09, or 3.3%, to $65.30.That pushed both crude benchmarks into technically overbought territory and put Brent on track for its highest close since July 31 and WTI on track for its highest close since September 26.U.S.

Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.78 a barrel, down 34 cents, or 0.58%."Lower European equity markets and lack of additional supply disruptions is moderately weighing on oil prices…

Oil prices were steady in choppy trade on Tuesday as investors weighed dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen.Brent crude futures for February delivery, which expire on Tuesday, were up 3 cents, or 0.05%, at $61.97 a barrel at 1:18 p.m. EDT. The more active March contract was down 12 cents or 0.2% at $61.37.U.S. West Texas Intermediate crude fell 6 cents, or 0.1%, to $58.02.The Brent and WTI benchmarks settled…

Oil prices settled higher on Monday after the U.S. Coast Guard tried to intercept an oil tanker in international waters near Venezuela a day earlier, and Ukraine damaged two vessels and piers in Russia, raising the risk of oil supply disruptions.Brent crude futures gained $1.60, or 2.7%, to settle at $62.07 a barrel, while U.S. West Texas Intermediate crude futures rose $1.49, or 2.6%, to settle at $58.01 a barrel.The U.S. Coast Guard tried to intercept an oil tanker on Sunday that U.S. officials said is part of Venezuela's illegal sanctions evasion, the third such operation this month.

Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.An end to the war in Ukraine could pave the way for the unwinding of Western sanctions against Moscow's energy trade, potentially adding more supply at a time when prices have been battered by expectations of a glut next year.Brent crude futures fell $1.45, or 2.3%, to $61.92 a barrel by 11:19 a.m. ET (1619 GMT), while U.S.

CK Hutchison said on Thursday its $22.8 billion ports business sale had a "reasonable chance" of going through after a plan to add a Chinese major strategic investor to the buying consortium, as it tries to navigate through Sino-U.S. tensions.CK Hutchison, based in the Chinese-controlled territory of Hong Kong, has faced heavy criticism from Beijing since unveiling a plan in March to sell 43 ports in 23 countries, including two near the Panama Canal, to a group led by BlackRock and Italian Gianluigi Aponte's family-run shipping firm MSC.President Donald Trump had called for the U.S.

Oil prices fell on Thursday after sharp gains in the previous session as market participants assessed a U.S. decision to move personnel from the Middle East ahead of talks with Iran over that country's nuclear-related activity.Brent crude futures were down $1.02, or 1.5%, at $68.75 a barrel at 1253 GMT, while U.S. West Texas Intermediate crude fell $1.05, or 1.5%, to $67.10 a barrel.Both Brent and WTI surged more than 4% in the previous session to their highest levels since early April.U.S. President Donald Trump said the U.S.

Emirati-Lebanese shipbuilder Privinvest has been granted permission to appeal against Mozambique's victory in a London lawsuit over the decade-old "tuna bond" scandal, its lawyer said on Tuesday.The southeast African country sued Privinvest and its now late owner Iskandar Safa, alleging they paid bribes to Mozambican officials and Credit Suisse bankers to secure favourable terms on three projects in 2013 and 2014, including one designed to exploit Mozambique's tuna-rich coastal waters.London's High Court ruled last July that Mozambique was entitled to payment of just over $825 million from Safa and companies in the Privinvest group, plus an indemnity in relation to $1.5 billion it is liable to pay lenders and bondholders…

Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.China's retaliation intensified the economic turmoil unleashed by Trump's tariffs, with markets tumbling further and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades."Recession risk is much…

Oil rose almost 1% on Thursday in thin holiday trade driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, and supported by an industry report showing a decline in U.S. crude inventories.Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, Reuters reported on Tuesday, citing two sources, as Beijing ramps up fiscal stimulus to revive a faltering economy.Brent crude futures rose 48 cents, or 0.7%, to $74.06 a barrel by 1445 GMT. U.S. West Texas Intermediate crude was at $70.72, up 0.9%, or 62 cents, from Tuesday's pre-Christmas settlement."I see two factors supporting oil prices.

Emirati-Lebanese shipbuilder Privinvest on Tuesday was refused permission to appeal against Mozambique's victory in a London lawsuit over the decade-old "tuna bond" scandal.The southeast African country sued Privinvest and its now late owner Iskandar Safa, alleging they paid bribes to Mozambican officials and Credit Suisse bankers to secure favourable terms on three projects in 2013 and 2014, including one designed to exploit Mozambique's tuna-rich coastal waters.London's High Court ruled in July that Mozambique was entitled to payment of just over $825 million from Safa and companies in the Privinvest group, plus an indemnity in relation to $1.5 billion it is liable to pay lenders and bondholders…

U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.Crude inventories rose by 545,000 barrels to 430.3 million barrels in the week ended Nov. 15, the EIA said, compared with analysts' expectations in a Reuters poll for a 138,000-barrel rise.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 140,000 barrels in the week, the EIA said. Net U.S. crude imports rose last week by 237,000 barrels per day to 3.3 million bpd, with imports to the Gulf Coast hitting 2 million bpd, the highest since July 2020, the EIA said."The report is modestly negative, with builds across key petroleum products," said Giovanni Staunovo, an analyst with UBS.

Walt Disney unveiled plans on Tuesday to launch a new cruise ship that will set sail from Tokyo starting in fiscal 2028, adding a ninth vessel to the brand's growing fleet.The new ship, to be built by Germany's Meyer Werft and modelled after the Wish that is the largest vessel in the group, is a partnership with Oriental Land Company (OLC), the operator of Tokyo Disneyland. It is part of a 10-year, $60 billion expansion of Disney's theme parks and cruise business.Disney currently has five cruise ships in operation.

Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its…

Shuttle tanker owner KNOT Offshore Partners will appoint Derek Lowe as new Chief Executive Officer and Chief Financial Officer with effect from the week of September 11, 2023.The new appointment comes following the decision of Gary Chapman to step down as the Partnership’s CEO/CFO announced on April 10, 2023. Lowe will join the KNOT Offshore Partners from Telford Offshore, a provider of accommodation, construction, and pipelaying in the global offshore energy services industry. He has served as the Group Company Secretary of Telford Offshore since its formation in 2018, having provided consultancy services to its predecessor since 2015. He worked from 2011 to 2015 for the debt capital markets group of Pareto Securities, and from 1994 to 2010 for the equity capital markets group of UBS. Mr.

UBS Group AG will likely shrink Credit Suisse Group's $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday.UBS could also try to sell the portfolio, but doing so could prompt owners to move their accounts elsewhere, the WSJ reported, citing people familiar with the matter.About half of the shipping portfolio involves Greek ship owners that use their deposits in the bank's wealth management arm as collateral to finance new ships, the report added."Our wealth management business in Greece is an integral part o

Oil prices rose on Tuesday, recovering some of the previous session's losses as Kazakhstan's supplies continued to be disrupted and major producers showed no sign of being in a hurry to boost output significantly.Brent crude LCOc1 rose $1.54, or 1.4%, to $114.02 a barrel by 1110 GMT, and U.S. West Texas Intermediate (WTI) crude CLc1 was up $1.34, or 1.3%, at $107.30. Both benchmarks had lost about 7% on Monday."There was an overreaction on Monday and the market is re-considering it," UBS analyst Giovanni Staunovo said.

A potential invasion of Ukraine by neighboring Russia would be felt across a number of markets, from wheat and energy prices and the region's sovereign dollar bonds to safe have assets.Below are four charts showing where a potential escalation of tensions could be felt across global markets:Safe havensInflation at multi-decade highs and impending interest rate rises have made for a bad month for bond markets, but an outright Russia-Ukraine conflict could change that.Two-year U.S.

Rio Tinto forecast slightly weaker-than-expected 2022 iron ore shipments on Tuesday, citing tight labor market conditions and production delays from the new greenfields mine at Gudai-Darri project.The world's biggest iron ore producer said it expects to ship between 320 million and 335 million tonnes (Mt) in 2022 from the Pilbara region in Western Australia, a forecast with a mid-point below RBC estimate of 332 Mt and UBS' estimate of between 330 Mt and 340 Mt.Rio shipped 321.6 Mt of the steel-making commodity last year…

Australia's Fortescue Metals Group Ltd on Thursday narrowly beat its full-year estimate for iron ore shipments after a record fourth quarter, as strong demand from top consumer China offset the impact of bad weather.The world's fourth-largest iron ore miner fared better than rivals Rio Tinto and BHP, whose June quarter output dropped because of weather disruptions in Western Australia.Despite those disruptions, surging prices of the steelmaking ingredient and robust demand from China are expected to drive bumper earnings at miners…