2025-11-17 11:11
LONDON, Nov 17 (Reuters) - Ukraine struck Russia's port of Novorossiysk last week, forcing it to suspend oil exports. The Neptune missile it used is one of several long-range weapons Ukraine has developed since the 2022 invasion. Here is an overview of some of these new Ukrainian armaments based on statements from Kyiv. Sign up here. LONG NEPTUNE Ukraine says its domestically produced "Long Neptune" is a ground-launched land-attack cruise missile with a range of up to 1,000 km (621 miles). It was developed from the shorter-range Neptune anti-ship missile that existed before the invasion. President Volodymyr Zelenskiy announced its increased range in March. The military said on Friday it had been used to hit Novorossiysk, Russia's largest Black Sea export hub. Ukraine says it is producing more of the missiles. FLAMINGO The Flamingo, also known as the FP-5, is a new ground-launched land-attack cruise missile that Zelenskiy says has a range of 3,000 km (1,864 miles). He has talked it up as Ukraine's most successful missile and said it should enter mass production by year-end. It is made by Fire Point, a private Ukrainian defence company. Zelenskiy said in October that the Flamingo had been used on Russian targets but did not elaborate. LYUTYI The long-range propeller-powered Lyutyi one-way attack drone has been a workhorse of Ukraine's deep strikes on energy infrastructure in Russia this year. The drone, produced by aircraft manufacturer Antonov, can fly more than 1,000 km. FP-1 The FP-1 long-range one-way attack drone made by Fire Point has also been widely used to conduct deep strikes on targets in Russia and also has a range of more than 1,000 km. PALIANYTSIA The first combat use of the Palianytsia "drone missile" was announced by Zelenskiy in August 2024. The president said in October that the weapon, which is named after a type of Ukrainian bread, had hit Russian ammunition depots in dozens of cases. Ukraine's Militarnyi defence news outlet said it has a range of 650 km (404 miles) and a turbojet engine that allows it to fly at 900 km per hour, much faster than a normal drone. RUTA The Ruta is another "drone missile" that Zelenskiy has said he expects to enter mass production by year-end. He said in October it had been used for the first time to strike a maritime platform at a range of more than 250 km (155 miles). PEKLO The Peklo, Ukrainian for "hell", is another "drone missile". Zelenskiy said in December 2024 that a first batch of the weapons had been supplied to the Ukrainian military. Ukraine's Defence Express outlet estimates the range at around 700 km (435 miles). BARS The Bars, Ukrainian for "leopard", is a newer drone missile whose existence was revealed in April 2025. The Ukrainian military said last week that it was used by Ukraine to attack Russian targets. https://www.reuters.com/business/aerospace-defense/long-range-weapons-ukraine-has-developed-since-russias-2022-invasion-2025-11-17/
2025-11-17 11:03
DUBAI, Nov 17 (Reuters) - Rainfall caused floods in parts of western Iran on Monday, after months of drought led to the worst water crisis in decades and pushed authorities to begin cloud seeding over the weekend. The country's meteorological organisation issued a warning for flooding in six western provinces for Monday and said it expected rain in 18 out of Iran's 31 provinces. Sign up here. Rainfall levels across Iran are 85% below average, depleting reservoirs and causing taps to run dry including in parts of the capital, Tehran. Mismanagement, illegal well drilling and inefficient agricultural practices have contributed to the crisis, which authorities say has also been intensified by climate change. Prolonged and extreme dry conditions increase the risk of flash floods as droughts decrease the soil's ability to absorb water. Iranian media shared videos of mild floods occurring in some towns of western provinces such as Ilam and Kurdistan. On Saturday, Iran was able to perform its first cloud seeding this year above the watershed of Lake Urmia, in Iran's northwest and further north from the areas where flooding was reported, according to the Young Journalists Club (YJC). Cloud-seeding is a process in which chemicals are implanted into clouds to increase rainfall in an environment where water scarcity is a concern. However, the technique can only be applied when environmental conditions improve and can only be used as a stopgap solution. "In addition to cloud seeding's heavy cost, the amount of rainfall it produces is nowhere near what is needed to solve our water crisis," Sahar Tajbakhsh, head of Iran's Meteorological Organisation, told state TV on Sunday. YJC's report added that conditions are not yet present for cloud seeding in Tehran, which officials said may soon be uninhabitable if the drought gripping the country continues. https://www.reuters.com/sustainability/land-use-biodiversity/rainfall-causes-floods-parts-drought-stricken-iran-2025-11-17/
2025-11-17 10:57
Nov 17 (Reuters) - French utility EDF and OpCore, a joint venture between telecoms group Iliad and InfraVia Capital Partners, have entered into exclusive negotiations to develop a hyperscale data centre, the companies said on Monday. The project, which would be located on the site of EDF’s former coal-fired plant at Montereau-Vallee-de-la-Seine, is expected to cost around 4 billion euros ($4.64 billion) and would create one of Europe’s largest computing hubs with several hundred megawatts of capacity. Sign up here. Europe's old power plant sites are increasingly being repurposed for data centres to meet surging demand for AI computing, leveraging existing grid connections and industrial land to speed up deployment and cut costs. "This investment shows that France intends to lead the artificial intelligence revolution," French Economy Minister Roland Lescure said in a statement. “We are reaffirming our determination to reindustrialise the country, create jobs ... and make France a major digital power." A first phase is scheduled to come online in 2027 under France’s fast-track grid connection scheme. EDF launched a call for interest earlier this year to repurpose industrial land for strategic digital infrastructure. The Montereau site, shut down in 2004, will be redeveloped with a focus on energy efficiency and environmental standards, the companies said. ($1 = 0.8618 euros) https://www.reuters.com/business/energy/edf-opcore-develop-4-billion-euros-data-centre-france-2025-11-17/
2025-11-17 10:24
Risk assets are primed for a strong 2026, says Morgan Stanley Prefers global equities vs credit and government bonds Brokerage expects US to outperform vs global peers Morgan Stanley lifts S&P 500 2026 year-end target to 7,800 Nov 17 (Reuters) - Morgan Stanley expects U.S. stocks to outperform peers next year and prefers global equities over credit and government bonds, supported by rising artificial intelligence-related capital expenditures and a favorable policy environment. "Risk assets are primed for a strong 2026, powered by micro fundamentals, accelerating AI capex, and a favorable policy backdrop," Morgan Stanley said in a series of global economic and strategic outlook notes published separately on Monday. Sign up here. Global financial markets have had a volatile year, thanks to U.S. President Donald Trump's on-and-off tariff policies, but most of the trade uncertainty have faded, heading into 2026. The Wall-Street brokerage expects "moderate" global economic growth and disinflation next year, but said "uncertainty remains high and the range of outcomes is very wide". "The U.S. is the swing factor." U.S. ECONOMIC OUTLOOK Morgan Stanley forecast the S&P 500 (.SPX) , opens new tab index to touch 7,800 by the end of 2026, about a 16% upside from current levels, amid robust earnings growth and AI-driven efficiency gains. It sees U.S. small caps outperforming large-cap equities and cyclicals outperforming defensive sectors, driven by the Federal Reserve's dovish policy. The brokerage expects the dollar index (.DXY) , opens new tab to fall to 94 in the first half and rebound to 99 by 2026-end. EUROPEAN ECONOMIC OUTLOOK "We expect EU equities to be pulled into the slipstream of a broadening U.S. recovery in 2026, despite continued domestic fiscal challenges and structurally rising China competition," Morgan Stanley said, as it raised its 2026 year-end target for the MSCI Europe local currency index (.MIPO00000PEU) , opens new tab to 2,430 from 2,250. The MSCI Europe has gained about 12.5% this year, broadly boosted by optimism around Germany's fiscal spending plans, corporate earnings strength and cooling inflation levels. COMMODITIES The brokerage sees gold at $4,500 per ounce and copper at $10,600 per ton in 2026. It anticipates Brent oil will remain anchored around $60 a barrel due to a soft supply-demand balance. https://www.reuters.com/business/morgan-stanley-prefers-us-stocks-over-global-peers-2026-raises-sp-500-year-end-2025-11-17/
2025-11-17 07:56
Russia's Novorossiysk port has resumed oil loadings US plans sanctions on nations doing business with Russia Speculators increase ICE Brent net longs on supply risks HOUSTON, Nov 17 (Reuters) - Oil prices eased on Monday as loadings resumed at Russia's Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack. Brent crude settled 19 cents, or 0.3%, lower at $64.20 a barrel, while U.S. West Texas Intermediate crude eased 18 cents, or 0.3%, to $59.91. Sign up here. Both benchmarks rose more than 2% on Friday to end the week with a modest gain after exports were suspended at Novorossiysk and a neighbouring Caspian Pipeline Consortium terminal, affecting the equivalent of 2% of global supply. Novorossiysk resumed oil loadings on Sunday, according to two industry sources and LSEG data. However, Ukraine's attacks on Russian oil infrastructure remain in focus. "Early weakness was due to the resumption of loadings in Novorossiysk, but was short-lived," said Scott Shelton, energy specialist at TP ICAP Group. Ukraine's military said on Saturday that it hit Russia's Ryazan oil refinery, and Kyiv's General Staff said on Sunday that the Novokuibyshevsk oil refinery in Russia's Samara region had also been struck. "Investors are trying to gauge how Ukraine's attacks will affect Russia's crude exports in the long term," said Fujitomi Securities analyst Toshitaka Tazawa. INVESTORS MONITOR IMPACT OF WESTERN SANCTIONS Investors are also monitoring the impact of Western sanctions on Russian supply and trade flows. The U.S. imposed sanctions banning deals with Russian oil companies Lukoil (LKOH.MM) , opens new tab and Rosneft (ROSN.MM) , opens new tab after November 21 to try to push Moscow towards peace talks over Ukraine. U.S. President Donald Trump said on Sunday that Republicans are working on legislation that will impose sanctions on any country doing business with Russia, adding that Iran could be added to that list. OPEC+ this month agreed to increase December output targets by 137,000 barrels per day, the same as for October and November. It also agreed to a pause in increases in the first quarter of next year. An ING report said the oil market was expected to remain in a large surplus through 2026. But it warned of rising supply risks from Ukrainian drone attacks on Russian energy facilities and flagged Iran's seizure of a tanker in the Gulf of Oman after it transited the Strait of Hormuz, an important route for about 20 million bpd of global oil flows. The choppiness in crude oil prices is likely to remain as the geopolitical risk stays elevated against the expectations of more global crude supplies, said Dennis Kissler, senior vice president of trading at BOK Financial. Latest positioning data shows that speculators increased net long positions in ICE Brent by 12,636 lots over the past reporting week to 164,867 lots as of last Tuesday. ING said this was driven predominantly by short-covering and suggested that participants were reluctant to be short amid supply risks related to sanctions uncertainty. Meanwhile, UBS analyst Giovanni Staunovo expects oil prices to remain supported. "Rising oil-on-water levels have not yet led to an increase in on-land inventories," Staunovo said in a note. "While we expect prices to dip to the lower part of the trading range over the coming months, we hold a more constructive outlook for the second half of 2026." Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. https://www.reuters.com/business/energy/oil-falls-after-loadings-resume-key-russian-export-hub-2025-11-17/
2025-11-17 07:14
KYIV, Nov 17 (Reuters) - A Russian attack on Ukraine's southern region of Odesa sparked fires at port and energy infrastructure facilities, emergency services said on Monday. The attack damaged port equipment and several civilian vessels moored at the berths, Deputy Prime Minister for Restoration Oleksii Kuleba wrote on Telegram. Sign up here. "One of the ports is experiencing power outages, and specialists are already working to restore power," he said. The attack on the region cut power to 36,500 households, Ukraine's private energy firm DTEK said on Monday. Some 32,500 households remained without power as of the morning. DTEK reported significant damage to its facilities following the overnight attack in a post on the Telegram messaging app. https://www.reuters.com/world/russian-attack-ukraines-odesa-region-sparks-fires-port-2025-11-17/
