IIR's December 1 Market Scorecard Brings You Breaking Geopolitical News

Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Rubio says US-Ukraine talks on ending war 'productive' but 'complicated'		AI Summary: US and Ukrainian officials, including Secretary of State Marco Rubio, held "productive" talks on creating reliable, long-term security guarantees for Kyiv as part of a revised US-backed peace plan to end the war. These delicate negotiations, which followed amendments to an earlier draft criticized as too favorable to Russia, set the stage for a US delegation's upcoming meeting with Russian counterparts. Amidst internal Ukrainian political shifts and a growing sentiment of "fatigue with the war," the objective remains not just ending the conflict, but securing Ukraine's prosperous future against Russian aggression.	Aljazeera	Woodside, Petrobras, U.S. Rig Count: Your Daily Energy News
Pope Leo Calls for a Two-State Solution in Mideast Conflict		AI Summary: On his inaugural international trip, Pope Leo XIV used his stop in Turkey to discuss with President Erdogan the possibility of serving as a "mediating voice" in the Israel-Palestinian conflict, advocating for a two-state solution as "the only solution." The Pope also expressed hope that Erdogan's relationships with Russian, Ukrainian, and US leaders could help "promote dialogue" leading to a cease-fire in Ukraine.	The New York Times	Europe Agrees on Weaker 2040 Climate Goal
Oil climbs over $1 a barrel on OPEC action, Ukraine attack		Oil prices rose 1% on Monday as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply, while OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026. The Caspian Pipeline Consortium, which carries 1% of global oil, on Saturday said it halted operations after a mooring at its Russian terminal on the Black Sea was damaged by a Ukrainian drone. Chevron, a CPC shareholder, said late on Sunday that loadings were continuing at the Russian port of Novorossiysk.	Reuters	Delegates Unable to Advance Fossil Fuel Phase-Out at U.N. Climate Summit
European markets start December in negative territory Gold hits six-week high on rate cut optimism; silver hits record high		AI Summary: European stocks opened December lower, driven by defense sector declines on US-Russia peace talks over Ukraine, and lingering concerns over AI valuations. Meanwhile, the anticipation of an 87% chance of a December Fed rate cut and gold reaching a six-week high boosted precious metals miners. AI Summary: Gold prices climbed to a six-week high and silver surged to a record high, fueled by nearly 88% market certainty of a December Fed rate cut. This investment demand for non-yielding bullion is further supported by a falling US dollar and the expectation of a more dovish new FOMC chairman.	CNBC	Port Houston Sees Robust Cargo Activity Precious Metals in Focus: Gold Holds Momentum Amid Market Swings
Natural Gas Price Outlook -- Natural Gas Continues to Find Buyers on Dips		Natural gas remains highly volatile but continues to press higher as colder-than-expected temperatures drive seasonal demand. Key support levels sit below current pricing, and the market appears firmly bid, with pullbacks viewed as potential buying opportunities. If the market were to pull back at this point, the $4.60 level and the $4.20 level will end up being a bit of support.	FX Empire	November Was a Record-Setter for U.S. LNG
China's top paper urges US to rein in Japan over Taiwan		AI Summary: China, through a state media editorial, urged the US to restrain Japan from "reviving militarism" following the Japanese PM's remarks on a Taiwan response. This call, coinciding with calls between the leaders, suggests Beijing is pressing Washington to help de-escalate hostilities and safeguard the post-WWII international order.	Reuters	Rio Tinto Changes Direction on Green Iron
Trump Launches Largest Environmental Rollback in U.S. History		AI Summary: A trio of new US policy announcements aims to severely weaken environmental protections, including removing federal protections for millions of acres of wetlands and allowing economic factors in Endangered Species Act decisions. Driven by an "American energy dominance" agenda, these proposals--including plans for vast new offshore oil/gas drilling--could mark the largest environmental rollback in history, despite expected legal challenges.	OilPrice	EPA Grants Texas Primacy to Regulate Carbon Storage Wells
Week 11/24/25 - 12/01/25		As we step into December and the Holidaze, the World awaits seeming miracles on several fronts: the Russia-Ukraine war; Israel's ongoing conflicts with Middle Eastern neighbors (especially Gaza); U.S. Fed decision; other Central Bank decisions; clarity to fundamentals in commodity markets; U.S.-China Trade; China-Taiwan; and many others. Although it remains murky whether we will witness a miraculous peace accord in Eastern Europe or if the existing peace accord will hold between Israel and Gaza, the world is fervently hoping to have a better economic outlook heading into 2026...an outlook which would uplift commodity markets and have those on exchanges in New York, London, Hong Kong and Singapore breathing sighs of relief.
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

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