Oil prices rose on Wednesday, and widened the gains after initial US data showed crude stocks fell for the eighth straight week. 

OPEC expects global demand on crude to rise to 105.2 million bpd in 2025, while the International Energy Agency expects it to reach 104 million bpd, with the US sanctions on Russia expected to impact oil supplies. 

The Energy Information Administration reported a drop of 2 million barrels in US crude stocks last week to 412.7 million barrels, while analysts expected a drop of 1.1 million barrels. 

Gasoline stocks surged 5.9 million barrels to 243.6 million barrels, while distillate stocks rose 3.1 million barrels to 132 million barrels. 

Crude prices however pared the gains after news about a ceasefire between Israel and Hamas, which finally paves the way for a potential end to the 15-month war.

On trading, Brent March futures rose 2.65%, or $2.11 to $82.03. 

US crude futures due in February rose 3.3%, or $2.54 to $80.04. 

1. Rigetti’s (RGTI) CEO Says “We Need to Manage Expectations” amid Stock Surge

Rigetti Computing’s (RGTI) stock has soared, prompting CEO Subodh Kulkarni to caution investors that sustainable profitability and sales growth will take time. He noted that quantum computing hype and industry misstatements require “expectation management,” emphasizing the company’s focus on refining its technology before significant sales expansion.

This statement followed Rigetti’s 48% share jump Tuesday, amid broader quantum-computing enthusiasm. Still, Rigetti has seen volatility, previously impacted by bearish comments from Mark Zuckerberg (Meta (META)) and Nvidia (NVDA) CEO Jensen Huang, who suggested practical quantum computing remains a decade away. Despite reporting a $45 million net loss through Q3 2024, Rigetti’s market cap has exceeded $2 billion, with the CEO affirming there’s no urgent need for further capital raises.

Is RGTI a Good Stock to Buy?

Wall Street consensus rates RGTI stock a Strong Buy, based on six recent Buy ratings. Despite a 786% surge in the past year, the average price target of $6.10 suggests 41.2% downside. Investors should monitor Rigetti’s technological milestones amid the quantum computing hype.

2. Carnival Cruise Lines (NYSE:CCL) Jumps With New Accolades

Carnival Cruise Lines (CCL) shares rose over 1.5% Wednesday after placing highly in the WSJ’s Management Top 250 list. Carnival’s significant improvement in employee engagement and development landed it at number 128 among the “most effectively managed companies.”

Meanwhile, Carnival has had operational challenges, with some ships facing “technical issues” and ongoing measures to curb on-board deck chair hogging. Still, analysts hold a Moderate Buy on CCL stock, with the average price target of $30.14 indicating about 20.92% upside potential.

3. Airbus Puts Boeing to Shame with Strong Annual Deliveries

Airbus (EADSF) delivered 766 planes in 2024, more than double Boeing’s (BA) 348, marking the sixth consecutive year Airbus has outpaced Boeing. While Boeing faced production issues, strikes, and negative press, Airbus’s shares have gained 2.06% over the last year, compared to Boeing’s 16.49% drop.

Both companies carry Moderate Buy ratings, but Boeing’s potential upside (17.32%) outstrips Airbus’s (6.88%), likely reflecting BA’s weaker share performance in 2024. Investors may find turnaround potential if Boeing overcomes its operational hurdles.

4. Synairgen Secures £18 Million for Phase 2 Trial of SNG001

Synairgen (GB:SNG) raised £18 million from TFG Asset Management to fund its Phase 2 INVENT trial of SNG001, targeting mortality reduction in severe viral lung infections. The capital will cover trial and manufacturing costs, with a delisting from AIM planned if shareholders approve. Synairgen focuses on inhaled interferon beta for respiratory infections—a potential broad-spectrum antiviral treatment.

5. Tower Resources Sees Major Shift in Voting Rights

Tower Resources (GB:TRP) revealed that stakeholder Jeremy Asher increased his voting rights from 7.63% to 25.33%. This move significantly influences the oil and gas company’s strategic direction and governance. Tower Resources focuses on exploration and development across various projects, with the change possibly affecting shareholder and market perceptions.

6. BlackRock Throgmorton Trust PLC’s Share Repurchase

BlackRock Throgmorton Trust PLC (GB:THRG) repurchased 100,000 Ordinary Shares into treasury, affecting its share capital and total voting rights. This transaction adjusts market availability of shares and has implications under FCA notification rules, potentially influencing investor activity and share pricing.

7. BHP and Lundin Mining Form Joint Venture for Copper Projects

BHP Group Ltd (AU:BHP) and Lundin Mining have jointly acquired Filo Corp for US$2 billion, creating Vicuña Corp to develop Filo del Sol and Josemaria copper projects in Argentina and Chile. The partnership balances governance and ownership between BHP Canada and Lundin Mining, reinforcing BHP’s prominent copper position, a metal critical for energy transition and data infrastructure.

8. GCP Infra Executes Share Buyback to Optimize Capital Structure

GCP Infrastructure Investments (GB:GCP) repurchased 50,000 ordinary shares at 70.96 pence apiece under its approved buyback program, leaving 865,132,650 voting rights. The buyback aims to optimize its capital structure and enhance shareholder returns, complementing GCP’s focus on UK infrastructure debt and related assets.

9. Lundin Mining, BHP Group complete acquisition of Filo

Lundin Mining Corporation (LUNMF) and BHP (BHP) completed their previously announced Filo acquisition, buying out all remaining Filo shares not already owned. Shareholders could opt for a C$33.00/share cash consideration or Lundin Mining common shares. This strategic move could catalyze copper expansion efforts for both companies, especially in Chile and Argentina.

10. Luca Mining Corp. Initiates Exploration Drilling at Campo Morado Mine

Altaley Mining (TSE:LUCA), now operating as Luca Mining Corp., has launched its first exploration drilling at the Campo Morado mine in Mexico in over a decade. The 5,000-meter program targets under-explored zones, seeking to expand resources and optimize its mine plan. Luca focuses on polymetallic deposits including zinc, copper, gold, and silver.

11. Agnico Eagle Urges O3 Mining Shareholders to Accept Premium Buyout Offer

Agnico Eagle Mines Limited (TSE:AEM) presented an all-cash $1.67/share offer to O3 Mining, a 58% premium over its closing price before the deal. Valued at around $204 million, Agnico has support from O3’s board and 39% of shareholders, urging acceptance by January 23, 2025. Agnico focuses on gold exploration and production across multiple regions.

12. Great Pacific Gold Uncovers High-Grade Gold at Kesar’s East Vein Zone

Fosterville South Exploration (TSE:GPAC), rebranded as Great Pacific Gold, identified high-grade gold samples at the East Vein Zone in its Kesar Project. The company completed the Anteruno diamond drilling and plans to start drilling at Hampore. Such developments could strengthen its exploration portfolio and stakeholder confidence in the high-grade gold domain.

13. BioNxt Solutions Completes $3 Million Convertible Debenture Placement

BioNxt Solutions (TSE:BNXT) finalized a non-brokered private placement of unsecured convertible debentures worth $3 million. Proceeds will go toward product development, IP filings, and working capital, aiming to bolster its biotechnology operations and market positioning. BioNxt focuses on financing and expanding innovative biotech solutions.

14. High Tide to Release Year-End Financial Results for 2024

High Tide (TSE:HITI) will report its Q4 and full-year 2024 results on January 29, 2025, with a webcast featuring CEO and CFO commentary. A leading cannabis retailer by store count, High Tide’s financial disclosure will reveal insights into its strategic growth and market performance in retail, e-commerce, and cultivation.

15. Honey Badger Silver Strengthens Board with New Appointment

Honey Badger Exploration (TSE:TUF), now Honey Badger Silver, added Koby Kushner to its Board of Directors. Kushner’s background in mining engineering and equity research aims to advance the company’s silver-focused strategy. Meanwhile, Brian Briggs stepped down from the board. Honey Badger Silver holds multiple silver projects, including Sunrise Lake and Plata in Canada.

16. Tribeca Resources Reports Promising Soil Geochemistry Ahead of Chiricuto Drilling

Hansa Resources (TSE:TRBC) confirmed soil geochemistry results at Tribeca Resources’ Chiricuto Property in Chile, revealing copper-gold anomalies matching geophysical targets. Drilling is slated for February, strengthening Tribeca’s presence in a copper-rich district anchored by Capstone Copper. The upcoming exploration may solidify Tribeca’s market position.

17. CMC Metals Sets New Vision for 2025 with a Focus on Cash Flow and Growth

CMC Metals (TSE:CMB) revealed a strategic roadmap for 2025+, targeting cash flow from silver projects in the Rancheria Silver District. Utilizing ore sorting technology, the firm plans to expand resources, acquire new assets, and minimize market financing reliance, fostering local partnerships and First Nations collaboration. CMC’s growth focus may drive share value in the silver exploration space.

18. Mawson Finland Launches 2025 Drilling Campaign at Rajapalot Project

Mawson Finland (TSE:MFL) initiated a 12,000-15,000 meter drill program at the Rajapalot gold-cobalt site in Finland. Four diamond drill rigs and one BOT rig aim to extend the existing inferred resource and probe new targets. Mawson focuses on gold-cobalt development, with the drilling potentially expanding its resource base and spurring further exploration.

19. Playgon Games Announces New Studio and Platform Enhancements

Playgon Games (TSE:DEAL) is resuming live dealer operations from a newly selected global studio location. During downtime, the company upgraded its platform for better scalability and user experience, aiming to attract operators and players worldwide. Playgon provides proprietary mobile live dealer technology to global iGaming operators.

20. Cybin Partners with Segal Trials for Pivotal Phase 3 Program

Cybin (TSE:CYBN) has forged its first strategic partnership with Segal Trials for the Phase 3 development of CYB003, targeting Major Depressive Disorder. The agreement covers global trial oversight for about 550 patients across 40+ sites in North America and Europe, seeking to expedite regulatory approval and accelerate innovative mental health therapies.

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The Energy Information Administration reported a drop of 2 million barrels in US crude stocks last week to 412.7 million barrels, while analysts expected a drop of 1.1 million barrels. 

Gasoline stocks surged 5.9 million barrels to 243.6 million barrels, while distillate stocks rose 3.1 million barrels to 132 million barrels. 

US stock indices rose on Wednesday after forecast-matching inflation data earlier today. 

US consumer prices rose 2.9% y/y in December, matching estimates and up from 2.7% in November. 

Core prices, excluding food and energy, rose 3.2%, below estimates of 3.3%.

The US corporate earnings season launched today for the last quarter of 2024, with several major banks already releasing results.

On trading, Dow Jones rose 1.6%, or 662 points as of 16:13 GMT to 43181 points, while S&P 500 added 1.6%, or 93 points to 5936 points, as NASDAQ surged 2.2%, or 410 points to 19,451 points.