BUZZ - Silver mining stocks fall due to rising oil prices
路透社2026/09/28 10:16September 28 - ** Shares of U.S.-listed silver mining companies fell in premarket trading, weighed down by a weak precious metals market
** Spot silver XAG= dropped 4.7% to $61.25 per ounce, as rising oil prices (link) increased inflation concerns, strengthening the case for interest rate hikes GOL/
** On Monday, crude oil prices (link) rebounded more than 2%, after U.S. President Donald Trump rejected Iran's proposal for a peace agreement aimed at resolving bilateral conflicts and reopening the Strait of Hormuz O/R
** Hecla Mining HL.N and Coeur Mining CDE.N were down 5.4% and about 6% respectively
** Canadian mining stocks: Endeavour Silver EDR.TO, EXK.N dropped 5.4%; Silvercorp Metals SVM.TO, SVM.N slipped 5.7%
** Physical silver stock ETFs SIVR.P and iShares Silver Trust SLV.P both fell about 5%
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.
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