Energy:
1. Norway issued exploration licenses to 19 oil companies, including 31 in the North Sea, 21 in the Norwegian Sea, and 5 in the Barents Sea.
2. The World Bank predicts that the average crude oil price in 2026 will be $60 per barrel, down from $69 in 2025, due to weakened demand caused by trade issues.
3. Venezuela's state-owned oil company, PDVSA, plans to restart oil wells to restore crude oil production.
4. Reports indicate that Indian Oil Corporation has purchased 2 million barrels of Ecuadorian crude oil from a trader, with delivery scheduled for the end of March.
Precious Metals and Mining:
1. Spot silver broke through the $90 mark for the first time, with its market capitalization exceeding $5 trillion; spot gold also hit a record high.
2. LME copper inventories fell 22%, reaching a six-month low.
3. Commerzbank maintained its forecast of $16,000 per ton for nickel prices by the end of 2026.
4. Chile projects copper production of 5.5 million to 5.7 million tons in 2026, with an average copper price of US$4.50 per pound.
5. China's General Administration of Customs reported that rare earth imports in December were 9,951.6 tons, compared to 5,221 tons in November.
6. ANZ Bank predicts gold prices will exceed US$5,000 per ounce in the second half of 2026.
7. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, announced a new plan to strengthen the central gold clearing system.
