Willem Middelkoop, founder of Commodity Discovery Fund, breaks down his outlook for silver, saying that at this point US$200 or even US$300 per ounce is in the cards for the white metal.
‘We’re in the first innings I think of this short squeeze, so it’s not over yet,’ he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Co-Listing Expands U.S. Investor Access and Visibility in World’s Largest Aviation and Capital Markets
Syntholene Energy CORP (TSXV: ESAF,OTC:SYNTF) (OTCQB: SYNTF) (FSE: 3DD0) (‘Syntholene’ or the ‘Company’) announces that its common shares have been approved for quotation and have commenced trading on the OTCQB Venture Market in the United States under the trading symbol SYNTF. The OTCQB co-listing is intended to broaden the Company’s U.S. investor audience and increase visibility within the world’s largest aviation fuel, capital markets, and energy infrastructure ecosystem.
The OTCQB Venture Market, operated by OTC Markets Group Inc., is a recognized public market in the United States designed for early-stage and developing companies that meet verified reporting and compliance standards. The Company’s primary listing remains on the TSX Venture Exchange under the symbol ESAF.
‘Establishing a U.S. trading presence on the OTCQB is a strategically important step for Syntholene,’ stated Syntholene CEO Dan Sutton. ‘The United States represents the largest aviation market globally and a core center of capital formation for energy and infrastructure investment. Providing U.S. investors with direct access to our shares aligns our capital markets strategy with the jurisdictions driving both demand growth and project financing for synthetic fuels. We view this co-listing as a natural extension of our TSX Venture Exchange and Frankfurt listings, as well as an important foundation for long-term engagement with U.S. institutional, strategic, and retail investors.’
Syntholene believes the OTCQB quotation enhances the Company’s visibility and accessibility in the United States at a time when policy support for sustainable aviation fuel and synthetic fuels is accelerating. U.S. federal and state initiatives, including tax credits, grant programs, and offtake support mechanisms under the Inflation Reduction Act and related Department of Energy and Department of Transportation programs, are driving increased investment into next-generation fuel production infrastructure.
About Syntholene
Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.
Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.
Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.
For further information, please contact:
Dan Sutton, CEO
comms@syntholene.com
www.syntholene.com
+1 608-305-4835
Investor Relations
KIN Communications Inc.
604-684-6730
ESAF@kincommunications.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the development and intended benefits of the Company’s technology, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.
The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.
Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282096
News Provided by TMX Newsfile via QuoteMedia
Homeland Nickel (TSXV:SHL,OTC: SRCGF) is a Canada-based mineral exploration company targeting critical metals, with a strategic focus on nickel laterite projects in southern Oregon, USA. Recognized as a critical mineral by the US government, nickel underpins Homeland Nickel’s strategy as the company advances assets in what it views as the only US region with the scale and geology capable of supporting a significant domestic nickel supply.
The company has built a portfolio of nine nickel laterite projects originally identified during exploration programs carried out between the 1950s and 1970s. The deposits occur as near-surface laterite lenses formed through the weathering of ultramafic rocks, allowing for efficient surface sampling and auger drilling to quickly delineate mineral resources. This geological setting enables Homeland Nickel to advance multiple projects in parallel while maintaining a cost-effective exploration approach.
Alongside project consolidation and exploration, Homeland Nickel also holds a portfolio of mining equities in publicly listed companies. Management considers this portfolio a strategic asset that enhances financial flexibility and offers potential non-dilutive funding opportunities, supporting a disciplined capital allocation strategy as the company progresses its nickel assets through resource definition and technical evaluation.
This Homeland Nickel profile is part of a paid investor education campaign.*
Click here to connect with Homeland Nickel (TSXV:SHL) to receive an Investor Presentation
Homeland Nickel combines a consolidated portfolio of nine at-surface nickel laterite projects in Southern Oregon with a strategic portfolio of mining equities, offering investors leveraged exposure to domestic US nickel development alongside balance-sheet flexibility and reduced dilution risk.
Homeland Nickel (TSXV:SHL,OTC:SRCGF) is a Canadian mineral exploration company focused on critical metals, with a primary emphasis on nickel laterite projects in Southern Oregon, USA. Nickel has been designated a critical mineral by the US government, and Homeland Nickel is advancing assets in what it considers the only region in the United States with the geological scale and characteristics required to support a meaningful domestic nickel supply.
The company has assembled a portfolio of nine nickel laterite projects that were originally identified during exploration campaigns conducted from the 1950s through the 1970s. These deposits occur as at-surface laterite lenses formed by the weathering of ultramafic rocks, enabling the use of surface sampling and auger drilling to rapidly define mineral resources. This geological setting allows Homeland Nickel to advance multiple projects efficiently while managing exploration costs.
In parallel with asset consolidation and exploration, Homeland Nickel maintains a portfolio of mining equities in publicly traded companies. Management views this portfolio as a strategic asset that provides additional financial flexibility and potential non-dilutive funding options, supporting a disciplined capital allocation strategy as the company advances its nickel projects through resource definition and technical studies.
The Cleopatra project is Homeland Nickel’s flagship asset and hosts a historical mineral resource of 39.5 Mt grading 0.93 percent nickel. Mineralization occurs at surface and has historically only been explored to shallow depths (about 12 feet), leaving the deposit open at depth and along strike.
Location map of the Cleopatra Nickel property
Cleopatra is one of two projects optioned to Patriot Nickel under a staged earn-in agreement that includes cash payments, exploration expenditures and advancement to pre-feasibility. Homeland Nickel remains the operator during the exploration phase, retains a 20 percent interest in the Cleopatra project and receives a 20 percent equity interest in Patriot.
The Red Flat project is located approximately 12 kilometres inland from Gold Beach, Oregon, and hosts a historical resource of 18.8 Mt grading 0.84 percent nickel. Historical trenching and drilling indicate thick laterite horizons with consistent nickel grades.
Red Flat is accessible via gravel road.
The project has received a Surface Use Determination from the US Forest Service approving a proposed sonic drilling program, subject to a National Environmental Policy Act review. Homeland Nickel plans to update the historical resource and evaluate potential expansion through additional drilling and sampling.
The Eight Dollar Mountain project lies within the same ultramafic geological belt as Cleopatra and Red Flat. Surface sampling has returned nickel values of up to 2.2 percent nickel, highlighting the project’s high-grade potential. The property consists of 115 mining claims covering an area of 2,376 acres.
Eight Dollar Mountain is included in the option agreement with Patriot Nickel, with work planned to support an initial mineral resource estimate.
The Woodcock Mountain project covers more than 900 acres and has been identified by the United States Geological Survey as hosting significant nickel laterite mineralization. Historical work has reported grades up to 1.5 percent nickel over 15 feet and values as high as 2.13 percent nickel along a three-kilometre trend.
The project is located outside withdrawn land areas, and Homeland Nickel plans to advance surface sampling and auger drilling to define an initial mineral resource.
The Josephine Creek project, adjacent to Woodcock Mountain, was staked based on historic nickel laterite exposures. Sampling completed in 2025 returned an average grade of 0.73 percent nickel, with 10 of 82 samples grading 1 percent nickel or higher. The property consists of 174 lode mining claims covering an area of 1,455 acres.
Josephine Creek was sampled by the company in 2025 with 74 samples over 22 individual mining claims returning an average of 0.75 percent nickel with 10 samples grading over 1 percent nickel. The property benefits from proximity to infrastructure and further work is planned in 2026 to support an initial resource estimate.
The most recently acquired property, Rough and Ready, has seen extensive surface sampling, auger hole drilling and pit excavations to expose good grade nickel laterite over a wide area. Homeland Nickel will review the extensive data acquired with this project and will sample all claims for nickel during a summer 2026 exploration program.
Homeland Nickel has also staked nickel laterite claims at Iron Mountain, Peavine Mountain and Free & Easy, expanding its portfolio to a total of eight projects. These earlier-stage assets provide additional pipeline depth and optionality as the company advances its more mature projects.
In addition to its wholly owned exploration assets, Homeland Nickel holds a portfolio of publicly traded mining equities, including positions in Canada Nickel Company, Noble Mineral Exploration, Benton Resources, Vinland Lithium and Magna Terra Minerals. This portfolio provides financial flexibility and potential non-dilutive funding options, supporting the company’s exploration strategy while offering exposure to value creation beyond its own project pipeline.
Stephen Balch is an Ontario-registered geoscientist with over 40 years of experience in mineral exploration, including nearly three decades focused on nickel. His background spans nickel, copper and platinum-group element exploration across major mining jurisdictions, including experience with Inco Limited, FNX Mining, Noront and Voiseys Bay Nickel. He has more than 20 years of public company leadership experience as a CEO, president, technical consultant and director. In 2001, he joined Aeroquest Limited and helped develop the AeroTEM airborne geophysical system, and in 2019 co-founded Canada Nickel Company, where he currently serves as VP Exploration.
Ashley Nadon is a chartered professional accountant with a BA in Economics and an MBA. She provides consulting and accounting services to private and public companies as the managing director of a chartered professional accounting firm. Nadon brings experience as a CFO of several reporting issuers and currently serves as CFO for Kermode Resources.
Errol Farr is a seasoned financial professional with more than 35 years of experience in financial management, reporting, business optimization and strategy development. He previously served as CFO of Anaconda Mining, and currently holds senior executive roles including CFO, COO and corporate secretary of Zonetail, CFO of Big Tree Carbon and CFO/corporate secretary of AFR NuVenture Resources, a mining exploration company with US projects.
Vance White has over five decades of experience in guiding mineral exploration companies. He has served as president, CEO and director of Noble Mineral Exploration since 2003 and has held director and officer positions with multiple public companies in the mining sector.
Michael Dehn is a partner at Avanti Management and Consulting with more than 21 years in the mining industry. He has served as a director of publicly listed and private junior mining companies and is currently president and CEO of Temas Resources and United Lithium. He has been a director of the company’s predecessor since December 2020.
Birks Bovaird is chair of the board of Energy Fuels, a uranium and vanadium mining and development company, and serves as a director of Noble Mineral Exploration. His career has focused on corporate financial consulting and strategic planning, including serving as vice-president of corporate finance at a major Canadian accounting firm. He holds an ICD.D designation and is a graduate of the Canadian Director Education Program.
Main Street investors are grappling with emotionally driven investment decisions, which could pose a greater financial threat than the market downturn that Wall Street is predicting.
That’s according to an exclusive survey conducted by MarketWise.
“This kind of disconnect suggests investors are riding performance momentum and bracing for volatility. This type of setup often leads to sharper pullbacks when sentiment eventually turns.’
The study was conducted on December 11, 2025. The responses, gathered from 1,004 investors across various demographics, reveal heightened anxiety as recession fears linger.
This emotional undercurrent is manifesting starkly in portfolios, where safety trumps speculation.
The MarketWise survey shows that cash still dominates, with 86 percent of investors participating with an average US$626 monthly allocation. Fifty-five percent deem it the safest asset overall.
In stark contrast, crypto attracts just 35 percent participation at a meager US$92 monthly average.
“Crypto is no longer the ‘Wild West,’ but investor confidence hasn’t caught up to regulatory clarity. Fifty-four percent of investors say crypto is the asset class they’re most cautious about, and 56 percent see it as the most volatile despite reporting rules and oversight expanding,” said Royal.
Gold and commodities drew optimism from 44 percent overall, with that amount rising to 47 percent among Millennials. This sentiment aligns with the metal’s recent record surge past US$5,500 per ounce on safe-haven bids.
Stocks remain broad at 69 percent participation with an average monthly contribution of US$320; however, caution prevails for 46 percent of those surveyed, who said they feel “fearful” about stocks in 2026, mirroring 47 percent real estate wariness, despite a 23 percent holding.
Recession fears loom large, with three-quarters of respondents anticipating a 2026 downturn — yet 46 percent admit financial unreadiness. This number rises to 54 percent for those earning under US$75,000.
“Investor sentiment explains why panic-driven behavior persists, such as 18 percent of investors reporting that doomscrolling has already pushed them into a rushed investment decision,” Royal noted.
Forty-three percent of respondents predict emotional investing will harm their performance, while 45 percent have paused markets for mental health and 46 percent let economic and geopolitical headlines sway feelings.
“The mental tax of investing is becoming tough to ignore,” Royal added.
“Half of American investors check their portfolios at least once a day (with 9 percent doing so five or more times per day), and 51 percent feel investment stress at least monthly.”
This intensifies among youth. Sixty-one percent of Gen Z report acute investment stress, and 36 percent feel it daily or weekly, far above the average. Fear of missing out, or ‘FOMO,’ drives 17 percent of Gen Z decisions, with 42 percent overall somewhat or often impacted, highlighting impulsive trends among youth.
Meanwhile, 36 percent of Gen Z plan safety shifts versus 29 percent broadly. Millennials show parallel vulnerabilities: 21 percent admit doomscrolling panic, and 11 percent check portfolios frequently.
“Even solid fundamentals can get drowned out by headlines when investors are this emotionally fatigued. Of course, that’s when discipline matters most,” explained Royal.
Coping strategies lean toward rationality: 34 percent remind themselves markets move in cycles, and 20 percent research more to regain control. Older generations appear to show more restraint. Baby Boomers and Gen X report lower stress, with 49 percent overall “rarely” or “never” stressed versus Gen Z’s 61 percent. This generational divide — youth FOMO versus elder discipline — underscores the emotional paralysis among younger investors.
Market behavior mirrors this anxiety: 2025 Google searches for “stock market crash” hit 1.72 million, far outpacing “bull market” searches at 262,000. “Crypto crash” drew 392,000 hits, reinforcing the survey’s fear-driven sentiment.
As the gold price hits record highs and the cryptocurrency sector lags, MarketWise’s survey proves the real 2026 battle isn’t markets — it’s mastering the emotions driving them.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Crypto wallets are rapidly evolving from simple asset storage tools into sophisticated financial operating systems, increasingly serving as the primary interface for everyday financial activity on-chain.
That’s the central thesis of a new research report from Bitget Wallet. In it, the firm argues that as blockchain adoption matures, user behavior is shifting away from episodic, market-driven trading toward repeatable financial activities such as payments, savings and asset management, positioning the wallet at the center of a new financial era in 2026.
This structural shift sees wallets consolidating functions once spread across traditional exchanges, banks and standalone decentralized applications. Payments, trading, yield and privacy are now handled through a single, user-owned interface as cryptocurrencies begin to function more like everyday money.
This maturation is quantifiable: stablecoin on-chain transaction volume reached about US$33 trillion in 2025, with global stablecoin supply growing more than 50 percent to over US$300 billion. Furthermore, spending across major crypto card programs rose 525 percent year-on-year, underscoring a clear transition toward real-world financial use.
The BitGet Wallet report details eight structural trends defining this new phase of on-chain finance.
Stablecoins are evolving from a gray-zone asset into an invisible, programmable global settlement infrastructure, integrated into cross-border and local instant payment systems and card networks. Wallets function as multi-currency routing hubs, handling conversions and optimizing paths, increasingly using ‘PayFi’ models where held capital automatically earns on-chain yield during payment cycles.
The artificial intelligence (AI) economy is moving toward machines as autonomous economic actors. Protocols like x402 enable AI agents to transact automatically for data and services by embedding stablecoin payments in HTTP requests.
As this shifts the security focus from know your customer to know your agent (KYA), wallets are becoming unified funding, risk control and KYA enforcement hubs for both people and their authorized agents.
Privacy is now essential for scalable on-chain finance. With the Ethereum Foundation prioritizing it, privacy must be built into the infrastructure. Wallets are emerging as the main privacy boundary, managing transactions and on-chain data access to balance trust, usability and compliance without revealing full balances or behaviors.
DeFi is shifting from overcollateralized lending to models based on behavioral trust. Continuous on-chain activity, including recurring payments and cash management, generates behavioral signals for dynamic risk assessment. Wallets can aggregate these cross-chain, time-based behaviors to create a behavioral credit layer, translating consistent activity into better permissions and reduced friction, thus building durable financial relationships.
Real-world assets (RWAs) are evolving past simple tokenization toward perpetual and synthetic exposure.
With regulatory clarity and a sizeable increase in tokenized RWA value, reaching US$37.7 billion in 2025, attention is shifting to trading. Synthetic RWA derivatives and perpetual decentralized exchanges (Perp DEXs) are emerging, facilitating price exposure to nearly any asset with a reliable feed, and turning wallets into cross-market portfolio allocation gateways.
Decentralized perpetual markets grew significantly in 2025, with monthly turnover surpassing US$1 trillion at times. This brought on-chain perpetuals close to 20 percent of centralized derivatives volume.
Wallets are increasingly becoming the main trading platform, integrating execution, context and portfolio management, replacing standalone trading venues.
Prediction markets have become key financial infrastructure, with annual volumes over US$40 billion.
They now convert real-world events, like sports or elections, into tradable probability signals containing asymmetric information. Wallets are transforming into event-driven financial interfaces, making it easier for users to express views and manage risk based on these outcomes.
Memecoins, despite driving new wallet downloads and trading, offer inconsistent liquidity.
As the market matures, wallets are adding advanced tools like address clustering and relationship analysis to help users better understand the emotion, momentum and capital flows of meme trading, aiming to convert speculative activity into sustainable financial behavior.
“Crypto is increasingly being used for everyday financial activity,” said Bitget Wallet CMO Jamie Elkaleh.
Elkaleh also noted that Bitget Wallet has embraced this shift, strategically aligning its product architecture around payments and cash management with its unified Pay hub that combines crypto cards, QR payments and bank transfers alongside yield and trading features.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Amazon said Wednesday it was slashing another 16,000 jobs across the company in an ongoing bid to restructure the sprawling trillion-dollar firm.
‘The reductions we are making today will impact approximately 16,000 roles across Amazon, and we’re again working hard to support everyone whose role is impacted,’ Beth Galetti, Amazon’s senior vice president of people experience and technology, said in a memo to employees.
‘That starts with offering most US-based employees 90 days to look for a new role internally,’ she said. Amazon will ‘continue hiring and investing in strategic areas and functions that are critical to our future.’
Galetti said the cuts would ‘strengthen our organization by reducing layers, increasing ownership, and removing bureaucracy.’
In October, Amazon cut 14,000 jobs primarily at the corporate level. At the time, Galetti cited artificial intelligence as being the “most transformative technology we’ve seen since the internet.”
Amazon has 1.55 million employees worldwide, the company said in a filing last year.
It said Tuesday that it would close some of its Amazon Go and Amazon Fresh physical stores, planning to convert some into Whole Foods Market stores.
While AI was not explicitly cited in Wednesday’s note to Amazon workers, the cuts come as workers nationwide brace for the impact of artificial intelligence in a sluggish labor market.
Companies have started citing ‘efficiency’ as they pursue the implementation of AI.
On Monday, Goldman Sachs CEO David Solomon said that his firm’s headcount would be ‘more constrained in 2026’ as the company sees ‘opportunities for efficiency and we try to deploy those.’
On Tuesday, Pinterest said it would cut 15% of its workforce as it pivoted ‘resources to AI-focused roles and teams that drive AI adoption and execution.’
Last year, Microsoft said it was eliminating 9,000 jobs to improve efficiency. Target also cut 1,800 corporate jobs to reduce ‘complexity.’ Instagram and Facebook owner Meta Platforms also reduced its workforce by around 600 jobs as it shifted toward artificial intelligence.
At the same time, hiring nationwide is slowing and inflation remains elevated.
After three months of contraction last year, the U.S. economy added only 56,000 jobs in November and just 50,000 in December. Meanwhile, inflation remains at 2.7%, well above the Federal Reserve’s target of 2%.
Brightstar Resources (BTR:AU) has announced Updated Goldfields DFS Presentation
Download the PDF here.
Investing in oil stocks can be a lucrative endeavor, but determining the right time to enter a sector known for volatile swings can be tricky.
Over the past five years, the oil market’s inherent volatility has been on clear display. Major declines in consumption brought on by the COVID-19 lockdowns was followed by oil prices surging to US$122 per barrel for Brent and US$115 per barrel for Western Texas Intermediate (WTI) in mid-2022, as the world economy began to recover and Russia’s invasion of Ukraine led to the consequent sanctions on Russian oil.
In 2023, oil prices experienced significant volatility. Fears of a global recession gave rise to bearish sentiment over much of the oil sector and pushed Brent prices as low as US$67 and WTI as low as US$64 per barrel in the first half of the year. Despite a Q3 spike in Brent above the US$98 level and WTI above US$90, oil prices trended back down in Q4 to dip below US$78 for Brent and US$71 for WTI even with conflict escalating in the Middle East.
In 2024, the oil market experienced a relatively stable but downward-trending year overall. As tensions flared up between Iran and Israel in the Middle East, prices for Brent and WTI respectively peaked at around US$93 and US$88 per barrel in mid-April. In the second half of the year, record US production and sluggish global demand growth, particularly in China, pushed prices down to below US$70 for Brent and US$65 for WTI.
In 2025, volatility was very much in play for global oil markets. Some of the biggest factors driving that volatility were OPEC+ production hikes, weaker demand from major economies like China and US President Donald Trump’s tariff wars. Brent and WTI crude both started the year above US$70 per barrel but late in the year, Brent dipped below US$60 per barrel and WTI fell as low as US$55 per barrel.
Since the start of 2026, the price of Brent crude oil has climbed by nearly 9 percent to US$66.37 per barrel and WTI crude oil is up by 8 percent to US$61.90 per barrel as of January 14 as geopolitical risks continue to threaten supply despite broader market oversupply pressures.
Energy stocks performed positively in 2025, with the S&P 500 Energy index posting a gain of 4.96 percent for the year, although the sector lagged that of the broader S&P 500’s (INDEXSP:.INX) gain of 17.25 percent during the same period. Still, this was an improved performance over the 2.31 percent returns the energy sector posted in 2024 compared with the 23.3 percent gains made in the broader S&P 500.
Oil stock prices typically track oil prices, but that was not the case in 2025. Many major oil stocks performed relatively well in the face of declining oil prices. Those oil companies seeing share price appreciation were more likely to be led by fiscally responsible management teams that were able to achieve debt minimization and strong cash flows even with lower oil prices.
What will be the story in 2026?
In 2026, the outlook for the global oil market is looking bearish, as analysts are projecting a decline in oil prices due to a supply surplus.
In mid-January, the US Energy Information Administration (EIA) put forward a forecast predicting an average WTI crude oil price of US$52 per barrel for this year, and US$50 per barrel in 2027. As for Brent crude oil, the EIA forecast average prices of US$56 in 2026 and US$54 in 2027.
These forecasts predict oil prices will decrease due to a number of trends, mainly rising inventories as production exceeds demand, a slowdown in economic growth and the adoption of renewable energy technologies. In addition, the geopolitical conflicts in Venezuela and the Middle East are expected to cause oil price volatility this year.
Year of the glut?
Arguably the biggest factor influencing the oil market this year will be the outsized surplus, leading some analysts to call 2026 the “year of the glut.”
Deloitte is forecasting the largest oversupply in the oil markets since the COVID-19 pandemic.
“The oversupply is real, and while demand and economies are waking up and moving forward, they’re not moving forward at the robust rates that we might hope,” Andrew Botterill, a partner at Deloitte Canada and lead author of the report. “We see ourselves in a big oversupply situation right now of about three million barrels a day. We should expect downward pressure on prices, especially in the first half of the year.”
OPEC has a differing outlook for this year. Rather than a supply glut, the group of oil exporting nations sees a near balance emerging between supply and demand for 2026. Regardless, OPEC+ plans to pause its planned production hikes for the first quarter of the year.
China’s oil demand
As the world’s second most populous country, China is unsurprisingly the world’s second largest consumer of oil (after the United States) and the largest net importer of the energy fuel. With well over half of its imports coming from OPEC member countries, Chinese demand can strongly influence the oil market.
China’s oil demand is forecast to slow this year as its economy struggles, and electric vehicles continue to replace internal combustion engine (ICE) vehicles on its roads. The Asian nation’s economy is continuing to struggle with a beleaguered property sector, declining consumer confidence and debt-burdened local governments. Still, the World Bank is forecasting a 4.4 percent growth rate for China’s economy in 2026.
Although China continues to import oil, a large portion is going toward strategic stockpiling rather than industrial consumption. Goldman Sachs (NYSE:GS) expects the nation to add 500,000 barrels per day to its inventories over the next five quarters in order to bolster its energy security, Bloomberg reported in September.
Renewable energy’s market share
Renewable energy sources are increasingly taking up a larger share of the overall energy mix, although oil and gas continue to represent the largest share of the pie.
Another consideration is the continuing growth of electric vehicle sales. Global sales reached a record 20.7 million units in 2025, up 20 percent over 2024.
However, the growth rate varied significantly by region. For example, the US market experienced a mere 1 percent growth rate, while the Canadian EV market saw a 41 percent decline in sales. On the other hand, EV sales in China grew 17 percent, and in Europe they grew by 33 percent.
Despite the record growth, EVs still remain an economic luxury for the general North American consumer concerned with not only the price, but also the lack of charging infrastructure. US President Donald Trump’s negative stance toward the renewable energy sector is also hindering growth in the US market.
As of 2026, ICE vehicles still dominate the global vehicle market compared to EVs, and that looks set to continue in the near future. In a late 2025 survey of potential car buyers from 28 countries, 50 percent of respondents said they plan to buy an ICE vehicle in the following 24 months, while 14 percent planned to buy an EV and 16 percent, a hybrid vehicle.
US oil production
After reaching record levels in 2025, US oil production is expected to decline this year. According to the EIA, the country’s oil production came in at 13.61 million barrels per day in 2025. That number is forecast to lower to 13.53 million barrels per day in 2026 as lower prices for the commodity are reducing the incentive for oil companies to drill new wells.
US foreign policy and interventions in Venezuela and the Middle East are also likely to influence global oil markets this year.
Venezuela, largest oil reserves in the world
In January 2026, US forces removed Venezuelan President Nicolás Maduro from the country and the Trump administration seized control of Venezuela’s state oil company. The US government is now moving to liquidate up to 50 million barrels of heavy crude oil from Venezuela on global markets, with funds from the sales added to US accounts. It also said it plans to modernize and upgrade the country’s oil infrastructure and electricity grid to increase Venezuela’s oil production, which totaled 800,000 barrels per day in 2025.
Venezuela holds an oil reserve of 303 billion barrels, and if the administration were to succeed in these plans it could have major implications for oil prices in the years ahead. Additionally, an influx of Venezuelan oil lowering global prices could further disincentivize domestic production in the United States.
However, analysts warn it will take many years, tens of billions of dollars in capital expenditures and buy-in from US oil majors to restore the country’s once vibrant oil industry due to the state of the neglected infrastructure.
This would also require US oil majors to take the risk of investing in these upgrades. Venezuela’s heavy crude is suited for US Gulf Coast refineries, including major refiners like ExxonMobil (NYSE:XOM). However, Exxon’s CEO commented that the country is currently ‘uninvestable’ and the company would require durable investment protections and buy-in from the Venezuelan people to begin operations in the country.
“Industry estimates suggest production could recover toward 2 million barrels per day (up 500,000 – 1 million bpd from current levels) within one to two years under favorable conditions,” according to a report by TD Securities. “Beyond that, at least $20 billion worth of investment and a timeline spanning towards 10 years would be needed to add an incremental 500,000 bpd worth of production, with some $50 billion – $60 billion of investment required to return to 1998 levels.”
Middle East conflict
There are a number of major geopolitical conflicts playing out across the globe that have the potential to impact both oil production and transport, leading to higher prices for the commodity. Conflicts in the Middle East, responsible for a vast majority of global oil production, are of great consequence to the market.
So far in 2026, Iran is the center of conflict in the Middle East due to widespread protests against the government, which the government has responded to by killing thousands of protestors. Initially, the US weighed military intervention in response, and threatened tariffs on countries doing business with Iran. The ramifications of the Iran-US tensions have the ability to impact other regions of the market, especially China.
By the end of January, Trump was considering ‘airstrikes aimed at Iran’s leaders and the security officials believed to be responsible for the killings, as well as strikes on Iranian nuclear sites and government institutions,’ CNN reported.
The investment landscape for oil stocks in 2026 is complicated by ongoing geopolitical and economic uncertainties. Another major complication is the projected supply glut that has the potential to depress prices.
Whether analysts take a bearish or a bullish view on the outlook for global oil stocks in 2026, all would agree that investors will find the best value in high-quality companies with strong balance sheets that can weather lower pricing environments.
Lower share prices can offer a buying opportunity for investors who believe oil stocks will eventually recover and are open to holding the stocks long-term.
Of course, investors will need to do their own due diligence to determine if oil stocks are right for their portfolio and which stocks are the best bet.
Finally, exchange-traded funds (ETFs) offer an excellent avenue to investing in the oil sector as they allow for exposure to a diversified portfolio rather than a single stock. There are several oil ETFs available to investors, including options such as the iShares Global Energy Sector ETF (ARCA:IXC), the United States Oil Fund (ARCA:USO), and the SPDR S&P Oil & Gas Exploration & Production ETF (ARCA:XOP).
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Platinum may be rare, but it is the third most-traded precious metal in the world, behind gold and silver.
The world’s platinum demand varies widely across many sectors. Most notably, platinum metal is used in autocatalysts and jewelry, as well as for medical and industrial purposes. Those interested in investing in platinum would do well to be aware of the many platinum uses. After all, by knowing which industries require platinum, it’s possible to understand supply and demand dynamics, and to be aware of how the precious metal’s price may move in the future.
With that in mind, here’s a list of the four main platinum uses. Scroll on to learn more about platinum’s key applications.
One of the main platinum uses is in the construction of autocatalysts. An autocatalyst is a “cylinder of circular or elliptical cross section made from ceramic or metal formed into a fine honeycomb and coated with a solution of chemicals and platinum group metals.” An autocatalyst mounted inside a stainless steel canister is known as a catalytic converter.
Catalytic converters are installed in a vehicle’s exhaust lines, between the engine and muffler, where they are used to moderate the dangerous qualities of exhaust. Specifically, the autocatalysts that vehicles contain convert over 90 percent of hydrocarbons and carbon monoxide into carbon dioxide, nitrogen and water vapor. They can also convert pollutants from diesel exhaust into carbon dioxide and water vapor, which is immensely helpful in reducing pollution.
Autocatalysts have been used in the US and Japan since 1974, and are now so common that over 95 percent of new vehicles sold each year have one. As a result, they are a significant source of platinum demand that is not likely to disappear in the future. Indeed, as pollution rules become more stringent, car companies are looking at creating even more efficient autocatalysts.
According to data from the World Platinum Investment Council (WPIC), automotive demand is forecasted to fall 3 percent to 3.02 million ounces in 2025 before falling another 3 percent to 2.92 million ounces in 2026.
Platinum has many qualities that make it ideal for use in jewelry, and that is the second largest source of platinum demand. The metal is strong, resists tarnish and can repeatedly be heated and cooled without hardening or oxidizing.
When used to make jewelry, platinum is commonly alloyed with other platinum-group metals such as palladium, as well as copper and cobalt, so that it is easier to work with.
The history of platinum jewelry is long. More than 2,000 years ago, Indigenous people in South America made rings and ornaments out of platinum. Egyptians used platinum for decoration as early as the 7th century BCE. Meanwhile, Europeans began to use the metal in jewelry in the 18th century. Currently, China is the largest market for platinum jewelry.
The WPIC expected platinum demand for jewelry was expected to increase 7 percent year-over-year to 2.16 million ounces in 2025, then decline 6 percent in 2026 to 2.04 million ounces.
Platinum’s industrial applications could fill a book all on their own. For instance, platinum catalysts are used to manufacture fertilizer ingredients, and the metal is a key component in silicones, hard disks, electronics, dental restoration, glass-manufacturing equipment and sensors in home safety devices.
Another platinum use is in the construction of hard drives with extremely high storage densities. And, because it is reactive to oxygen, oxides of nitrogen and carbon monoxide, platinum can be used to detect changes in the amount of those materials in vehicles and buildings. For the same reason, platinum is also used in medical sensors, particularly medical instruments that measure blood gases, to detect oxygen.
Among growing segments is platinum’s use as a catalyst in the production of green hydrogen. Similar to how the metal is used to convert automotive pollutants, it can also be used as an electrolyzer to convert water into hydrogen and oxygen, with the resulting hydrogen usable in emission-free fuel cell vehicles. In 2025, demand from hydrogen production is predicted to grow by 20 percent to 50 million ounces, then increasing another 36 percent in 2026 to 58,000 ounces.
Overall, WPIC forecast that industrial demand for platinum, including medical demand, would fall 22 percent to 1.9 million ounces in 2025 before growing 9 percent to 2.08 million ounces in 2026.
Platinum is used in electronic medical devices like those mentioned above, as well as in catheters, stents and neuromodulation devices. It is ideal for these applications because of its durability, conductivity and biocompatibility. The metal is also inert within the body, making it safe for implantation.
To meet other medical needs, platinum can be formed into rods, wires, ribbons, sheets and micromachined parts. Further, it helps fight cancer in the drugs cisplatin and carboplatin, which are widely used to treat testicular cancer, as well as ovarian, breast and lung cancer tumors.
Medical demand for platinum has increased in recent years, and is forecast to rise 4 percent to 320,000 ounces in 2025 and another 4 percent to 322,000 ounces in 2026.
In 2026, the price of platinum has spiked significantly as part of a precious metals bull market trading as high as US$2,900. In 2025, the PGM ranged between US$960 and US$1,900 per ounce.
Although the industry is facing a growing supply deficit, it is also dealing with lagging demand. The shortfall in supply is related to a hangover from COVID-19 lockdowns, Russia’s war in Ukraine and ongoing electricity shortages and railway issues in the top platinum producing country South Africa. Russia typically ranks as the world’s second largest platinum-producing country.
Meanwhile, economic pressures worldwide have weighed on demand for platinum from the automotive industry. However, the same economic challenges have led to less demand for electric vehicles, which don’t require platinum-laden catalytic converters.
Platinum in general has historically traded on par or at a premium to gold, but since 2015 the two metals have diverged in price, with gold taking the high road. This split has been attributed to gold’s safe-haven status and platinum’s reliance on the industrial and jewelry markets, which don’t fare well in times of economic uncertainty.
This has led to increasing demand for platinum jewelry as a cheaper alternative to gold jewelry.
Although platinum is 30 times rarer than gold, much harder to mine and in high demand due to its important industrial uses, precious metal gold has long been valued as a form of currency and a store of wealth. The gold price is almost double the price of platinum in 2026.
Both gold and platinum have wealth-generating potential, but it’s important to determine which precious metals fit your investment strategy; consider looking at supply, demand and prices for each option before making a decision.
To learn more, check out our article What is the Best Precious Metal to Invest In?
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.