Gold price holds near high after preliminary Consumer Sentiment falls to 47.8, inflation expectations spike

Silverco Mining's La Negra mine in Mexico has a post-tax NPV of $329M and an IRR of 131%, with initial costs of $21M, according to a PEA. The company aims for commercial production in late 2027. Silverco shares gained 1% to C$9.90 on Monday, valuing the company at C$553.8M. The mine has a projected 8.2-year life with significant silver, copper, lead, and zinc production.

US diesel prices reached a record $6.40 per gallon, an 88% increase in 9 months. United Airlines announced flight cuts through 2027 due to rising jet fuel costs. Retail sales declined in July. According to AAA, the average gas price is $4.44 per gallon. American Airlines also warned of reduced capacity in Q4.

Brent and WTI crude oil prices rose 2.9% and 4.4% respectively due to a Saudi pipeline outage. USO, a WTI-tracking fund, gained 3.32%. Petrobras, Ecopetrol, and YPF shares increased 2.93%, 2.93%, and 2.27% respectively. The outage disrupted 4-5 million barrels per day, impacting global supply.

Oil prices rose on Monday due to Saudi Arabia's East-West pipeline shutdown, with WTI and Brent futures increasing. The United States Oil Fund (USO) gained 1.14%, while Latin American energy companies saw mixed results: YPF rose, Petrobras slipped, and Ecopetrol was flat. The shutdown highlights supply concerns and potential market impacts.

The US aims to boost Venezuela's oil output to 1.5M barrels per day, with American companies playing a central role. Chevron plans to invest $7B and increase production to 600K barrels per day. Eni has also signed an agreement to develop a Venezuelan oil field. The US seeks to strengthen energy security and offset Middle East disruptions.

Chevron Australia expects LNG prices to stay high for the next six months due to Middle East supply disruptions, according to Bloomberg TV. Australian LNG trades at a premium in Asia, with Chevron operating two major projects (Gorgon, Wheatstone) supplying 5% of global LNG. Asian spot prices rose to $26 per million BTU last week, with delays in Strait of Hormuz flows exacerbating supply issues.