WTI light crude oil up 0.3% past $81/bbl, highest close since April. US crude, gasoline, distillate inventories decline, raising concerns of insufficient supply. Rising oil prices may impact inflation and US election. Biden admin may release more oil from strategic stockpile. Energy stocks rise 1.5% on Thursday.
Agnico Eagle aims to boost production to an average of one million ounces per year over a 14-year period starting in 2030 as part of its newly released 2024 life-of-mine plan.
Fortescue Metals Group (OTCQX: FSUMF) faces executive turnover, infrastructure issues, and waning investor confidence, suggesting a difficult year ahead.