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market and exchange

Oil prices climb 2.6% after Iran missiles test fragile ceasefire

Illustration accompanying article: Oil prices climb 2.6% after Iran missiles test fragile ceasefire
  • Iran fired missiles at Israel on Monday, marking the first such attack since a ceasefire between the countries and the U.S. took effect in April.
  • Brent crude rose 2.6% to $95.50 a barrel and U.S.-traded crude climbed 2.5% to $92.75 in Asian trade.
  • Iran's Islamic Revolutionary Guard Corps warned the attacks are "the start of a full week of strikes," according to BBC News.
  • President Donald Trump told Axios he will urge Israeli Prime Minister Benjamin Netanyahu not to retaliate, saying he wants to preserve a final deal with Iran.
  • The 17 April ceasefire has been violated repeatedly by both Israel and Iran, the BBC reported.
 3 MIN READ

140-Year-Old Idaho Silver Mine Goes Public in $270 Million IPO

Illustration accompanying article: 140-Year-Old Idaho Silver Mine Goes Public in $270 Million IPO
  • Sunshine Silver Mining & Refining, controlled by billionaire Thomas S. Kaplan, raised $270 million in an IPO to restart the historic Sunshine mine in Idaho.
  • Shares rose 27% on their first day of trading on the New York Stock Exchange, valuing the company at $1.9 billion.
  • The mine, which produced an estimated 365 million ounces of silver since its founding in 1884, was idled in 1982 after silver prices collapsed and was later acquired by Kaplan's Electrum Group for $24 million in a 2010 bankruptcy auction.
  • The company plans to use IPO proceeds for feasibility studies, equipment and exploration, targeting initial production by 2028 with the goal of increasing U.S. silver output by more than 15%.
 3 MIN READ
Illustration accompanying article: Ferrari Luce EV gets poor dealer reception; NIO growth outlook intact