The price of tungsten has jumped 52% since early July, It has beaten all 22 major materials in the Bloomberg Commodities Index. Tungsten has gained for six straight months. The longest rally since 2012.
The use of energy as a political football to pursue ideological ends — whether that’s left wing or right wing — is beginning to hurt us. If we could harness the amount of rubbish expelled by our politicians, then we’d be hitting base load power with ease.
This morning, BHP Billiton Ltd [ASX:BHP] fell 2.2% to $26.68 per share. BHP isn’t the only miner down today. Rio Tinto Ltd [ASX:RIO] and Fortescue Metals Group [ASX:FMG] also traded lower, down 1.6% and 1.5% respectively.
What’s going on in the auto industry right now is incredible. China is scaling up production and spending billions on plug-in vehicles, which seem to be gaining traction among drivers. This is providing an added tailwind for metal prices.
Senex has secured rights to Surat Basin, a Queensland coal seam gas project. The 58 square kilometre area was hotly contested, with 12 other companies fighting for the rights.
Nickel advanced as much as 2.9% to $12,380 per metric ton on the London Metal Exchange — its highest since June 2015. It joins copper at new multi-year highs...
Tropical Storm Harvey continues to cause severe flooding in the Houston area. And it’s showing no signs of easing up. Houston is the central hub for the US energy industry. It’s important for oil production and storage. The effects on the US oil industry are likely to be big as well.
Syrah Resources Ltd [ASX:SYR] shares are up 6.99% today after the company received some good news.
Hurricane Harvey is the latest of the many setbacks to hit BHP’s US shale assets. The company has finally decided to sell its onshore US shale assets after pressure from shareholders.
While CBA looks inviting with a grossed up yield of 8%, I’d happily watch how this plays out on the sidelines for now. In my view, the energy sector is now in the early stages of a new bull market. This may not be apparent immediately. After all, most bull markets start out with scepticism.