2025-10-13 12:08
Oct 13 (Reuters) - Two trains collided in eastern Slovakia on Monday, derailing an engine and a carriage and injuring at least 66 people, emergency medical services and police said. There were no reports of deaths in the crash, which police said happened in front of a tunnel near the village of Jablonov nad Turnou, about 55 km (34 miles) west of the eastern Slovak region's main city Kosice. Sign up here. The country's emergency medical services said 16 people suffered moderate or serious injuries and at least 50 were lightly injured. Police footage on Facebook showed mangled wreckage, and a locomotive and a carriage that had come off the tracks lying on the side of a hill following the crash, which happened just after 10:00 a.m. (0800 GMT). There were about 80 passengers on the trains, police said. Slovak Railways said the two trains collided at a point where tracks cross and turn into a single line, and that the cause was under investigation. https://www.reuters.com/world/europe/least-20-injured-after-two-trains-slovakia-collide-2025-10-13/
2025-10-13 12:04
MOSCOW, Oct 13 (Reuters) - Russian oil production rose in September to 9.321 million barrels per day, up 148,000 bpd from August, as the world's leading oil producing countries continued to ramp up production, OPEC monthly data showed on Monday. Last month's production was still below Russia's OPEC+ output quota for September of 9.415 million bpd, however. Sign up here. OPEC+, the group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers, has increased its oil output targets by more than 2.7 million bpd this year, equating to about 2.5% of global demand. The shift in policy after years of cuts is designed to regain market share from rivals such as U.S. shale producers. Deputy Prime Minister Alexander Novak said last week that Russia had been gradually raising its oil production. In its monthly report, OPEC also said Kazakhstan's oil output last month edged down by 26,000 bpd to 1.840 million bpd, still above its quota set by OPEC+ for September of 1.550 million bpd. Kazakhstan has been one of the main laggards in the OPEC+ deal due to an increase in output at the Chevron-led (CVX.N) , opens new tab Tengiz oilfield, the country's largest. https://www.reuters.com/business/energy/russian-oil-output-continued-rise-september-opec-data-shows-2025-10-13/
2025-10-13 12:03
LONDON, Oct 13 (Reuters) - Copper prices touched $11,000 per metric ton on October 9, a milestone seen on only two other trading days in the history of the London Metal Exchange - and one that has analysts questioning whether the metal can scale a new peak. Used in power and construction, copper had moved within touching distance of its all-time high of $11,104.50, set in May 2024, before losing ground on Friday after U.S. President Donald Trump threatened to impose higher tariffs on China. Sign up here. Benchmark copper was trading at $10,644 a ton as of 1047 GMT on Monday. The metal has been propelled higher in 2025 by a weak dollar and, in recent months, a series of mining mishaps, but there is still a question mark over demand. "For that rally to gain further momentum, we will also need to see strong demand growth, particularly from China," said ING analyst Ewa Manthey, adding that the bank retains a cautious outlook on the metal. "However, if China ramps up metals-intensive stimulus, it would boost demand and prices further." Key copper mines, including Grasberg in Indonesia, have seen disruption this year. Even so, opinions differ on whether there is a genuine shortage of the metal or prices are being bid up by speculators. Following the force majeure at Grasberg, the International Copper Study Group sees a 150,000 ton deficit in 2026, although it still expects a 178,000 ton surplus this year. Adjusting its annual loss allowance for lower Grasberg output, BNP Paribas expects a "balanced" copper market next year. "No one's struggling to get copper," said David Wilson, senior commodities strategist at the bank. "Funds can push an industrial metal up, but then the industrial consumers will just go, 'All right, we're not buying.'" Copper stocks on the LME, Shanghai Futures Exchange and Comex total around 556,000 tons. But almost half are in the Comex system , where inventory built up prior to the expected imposition of U.S. tariffs on copper has not been drawn down, pointing to a surplus in the United States. ShFE copper stocks are at just under 110,000 tons, the highest since April 25 but down almost 60% from February. https://www.reuters.com/world/china/coppers-rally-needs-china-impetus-reach-record-2025-10-13/
2025-10-13 12:01
Oct 31 (Reuters) - Morgan Stanley said on Friday that gold prices had potential to climb to $4,500 per ounce by mid-2026, citing strong physical demand by exchange-traded funds and central banks as the economic outlook remains uncertain. "Recent price action took gold well into 'overbought' territory on an RSI (Relative Strength Index) basis, but the recent correction has taken it to a healthier level, likely cleaning up positioning," Morgan Stanley said in a note. Sign up here. The bank expects continued buying of gold-backed exchange-traded funds (ETFs) as interest rates decline, alongside steady purchases by central banks, albeit at a slower pace and stabilization in jewelry demand. However, Morgan Stanley cautioned that downside risks remain, including potential price volatility that could prompt investors to shift toward other asset classes or decisions by central banks to reduce gold reserves. Gold prices have surged over 54% year-to-date, hitting multiple record highs in 2025, including the latest peak of $4,381.21 per ounce on October 20, but have retreated more than 8% since then. The rally in gold this year has been fueled by geopolitical uncertainty, expectations of rate cuts, central bank purchases, and strong gold-backed ETF inflows. Following is a list of analysts' latest forecasts for 2025 and 2026 gold prices (in $ per ounce): *end-of-period forecasts https://www.reuters.com/business/finance/bofa-hikes-gold-price-forecast-5000oz-2026-2025-10-13/
2025-10-13 12:01
LONDON, Oct 13 (Reuters) - OPEC made no changes on Monday to its relatively high global oil demand growth forecasts for this year and next, and implied the oil market will see a much smaller supply deficit in 2026 as the wider OPEC+ group pushes ahead with output increases. OPEC+ is adding more crude to the market after the Organization of the Petroleum Exporting Countries, Russia and other allies decided to unwind some output cuts more rapidly than earlier scheduled. The extra supply has raised concern of a surplus and weighed on oil prices this year. Sign up here. In a monthly report on Monday, OPEC said the world economy was maintaining a solid growth trend. While demand is seen as steady, OPEC said that OPEC+ in September raised crude output by 630,000 barrels per day to 43.05 million bpd, reflecting its earlier decisions to increase output quotas. Expected demand for OPEC+ crude at an average 43.1 million bpd implies that the world market will see a deficit of 50,000 bpd if the wider group keeps pumping at September's rate, according to a Reuters calculation based on the report. Last month's report implied a deficit of 700,000 bpd in 2026 if OPEC+ kept pumping at August's rate. https://www.reuters.com/business/energy/opec-holds-oil-demand-outlook-points-smaller-2026-supply-deficit-2025-10-13/
2025-10-13 11:50
NEW DELHI, Oct 13 (Reuters) - India's power planning authority has drawn up a 6.4 trillion rupees ($77 billion) transmission plan to move more than 76 gigawatts of hydroelectric capacity from the Brahmaputra basin by 2047 to meet rising electricity demand, the Central Electricity Authority (CEA) said on Monday. In a report released on Monday, the CEA said the plan covers 208 large hydro projects across 12 sub‑basins in the northeastern states, with 64.9 GW of potential capacity and an additional 11.1 GW from pumped‑storage plants. Sign up here. The Brahmaputra River, which rises in Tibet, China, and flows through India and Bangladesh, holds significant hydro potential in its Indian stretch, particularly in Arunachal Pradesh on the China border. The basin's transboundary nature and proximity to China make water management and infrastructure planning a strategic concern, amid India's fears that a Chinese dam on the Yarlung Zangbo, the river's upper course before it enters India, could cut dry‑season flows on the Indian side by up to 85%. The Brahmaputra basin spans parts of Arunachal Pradesh, Assam, Sikkim, Mizoram, Meghalaya, Manipur, Nagaland and West Bengal, and holds more than 80% of India's untapped hydro potential, the report said, with Arunachal Pradesh alone accounting for 52.2 GW. Phase one of the plan, running to 2035, will require 1.91 trillion rupees, while phase two will cost 4.52 trillion rupees, according to the CEA. The CEA's plan also includes projects allocated to central public sector utilities such as NHPC (NHPC.NS) , opens new tab , NEEPCO, and SJVN (SJVN.NS) , opens new tab, with some projects already in the pipeline. India aims to reduce its dependence on fossil fuels by having 500 GW of non-fossil power generation capacity by 2030 and becoming net zero by 2070. https://www.reuters.com/sustainability/boards-policy-regulation/india-unveils-77-billion-hydro-plan-china-builds-upstream-dam-2025-10-13/
