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Major miner BHP (ASX:BHP,NYSE:BHP,LSE:BHP) welcomed October with the news that it will invest over AU$840 million in its Olympic Dam copper operation in South Australia.

In an October 1 release, the commodities giant said that the funding is for a series of “growth-enabling projects” at the site, focused on strengthening underground mining productivity.

The company outlines several priority projects it intends to pursue at Olympic Dam, namely the construction of an underground access tunnel, a new backfill system, expansion of ore pass capacity and the installation of a new oxygen plant to improve smelter performance and support increased copper-processing capability.

“We expect to grow our copper base from 1.7 million tonnes to around 2.5 million tonnes per annum,” shared BHP COO Edgar Baston. “Achieving that scale requires significant copper growth, and we are fortunate to have a world-class copper province right here in South Australia to do just that.” According to Baston, BHP’s South Australian copper province has been delivering over 300,000 tonnes a year for the past three years.

Copper demand set to rise

In a global trade update shared in May, UN Trade & Development notes that global demand for copper is expected to grow by over 40 percent by 2040. This projected demand increase will drive supply requirements, with the organisation citing the need for around 80 new mines and US$250 billion in investment by 2030 to keep up.

For its part, BHP notes that global copper demand is projected to grow 70 percent by 2050 due to population growth, rising living standards and the energy transition. It adds that this poses a general opportunity for South Australia, underlining that it holds about two-thirds of Australia’s copper resources.

History of Olympic Dam

Olympic Dam was acquired by BHP in 2005 through its acquisition of Western Mining. It has become a cornerstone of BHP’s copper portfolio, with copper accounting for around 70 percent of the asset’s total revenue.

In its 2025 fiscal year, BHP reported a production of over 2 million tonnes of copper for the first time.

Don Farrell, Australian minister for trade and tourism, commented on the company’s investment in Olympic Dam, noting, ‘Australia is at the forefront of the energy transition in which copper is a vital resource and by securing the continued flow of copper from Olympic Dam, BHP is ensuring South Australia’s position as a key global supplier.”

BHP October updates

Also in early October, BHP iron ore cargoes were banned by Chinese iron ore buyer China Mineral Resources Group. The move reportedly stems from pricing disputes and has raised concerns for Australia.

Australia remains China’s top provider of iron ore, and BHP continues to be among the country’s major iron ore exporters, alongside Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Fortescue (ASX:FMG,OTCQX:FSUMF).

BHP has not commented on the matter as of writing.

On a positive note, BHP launched the fourth edition of its Xplor Critical Minerals Accelerator Program.

As in previous cohorts, Xplor 2026 participants can receive up to US$500,000 in equity-free funding, mentorship and access to BHP’s global network of suppliers and service providers.

Submissions close on October 15 at 11:59 p.m. AEST.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Gold marked a new price milestone on Wednesday (October 8), breaking US$4,000 per ounce.

The spot price hit a fresh record, rising as high as US$4,056.14 in midday trading. Future prices for gold breached US$4,000 for the first time on Tuesday (October 7) and have continued to climb higher.

The yellow metal’s rise follows a summer of consolidation. After several months of relatively flat trading, the price began pushing higher toward the end of August, quickly reaching US$3,500 and continuing on up.

Gold futures are up about 12 percent in the last month, and just over 54 percent year-to-date.

Gold price, October 1 to October 8, 2025.

Gold’s latest rise began last week, after US Congress failed to reach an agreement on a spending bill ahead of the new fiscal year, triggering a government shutdown. The closure has now lasted a week, with a key sticking point between Democrats and Republicans being an extension to billions of dollars in subsidies for Obamacare.

US President Donald Trump said Monday (October 6) that negotiations were taking place with Democrats and ‘could lead to very good things’ in terms of healthcare. However, Senator Chuck Schumer and Representative Hakeem Jeffries, Congress’ two Democrat leaders, said no talks were happening and that the White House ‘has gone radio silent.’

Various issues are emerging as the shutdown progresses, with one of the most recent being the Trump administration’s suggestion that furloughed federal workers may not receive backpay.

Beyond current events, gold’s rise is underpinned by factors like strong central bank buying, global geopolitical uncertainty, concerns about the US dollar and other fiat currencies and expectations of lower interest rates.

Those elements have many experts predicting a rise well beyond US$4,000 for the precious metal, likely before the end of the year, although a correction is widely expected beforehand.

Gold’s sister metal silver is also surging higher this week, despite a pullback in the the price on Tuesday.

Silver price, October 1 to October 8, 2025.

The white metal rose as high as US$48.74 per ounce on Monday, but retreated on Tuesday to the US$47.80 level. On Wednesday, silver followed gold higher to US$49.42 by midday.

Silver was last at these price points in 2011, and is close to its 1980 all-time high.

As with gold, experts see a silver correction as natural given its rapid ascent, but think the rally is far from over.

‘The idea that this bull market is over is a fallacy. I would exercise caution, because I believe we’re due a correction. But I’m very happy with silver’s performance so far year-to-date,’ said analyst Ted Butler.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

  • Several running backs, including Michael Carter and the duo of Hassan Haskins and Kimani Vidal, are top waiver wire targets due to injuries on their respective teams.
  • Tight ends AJ Barner and Theo Johnson had multi-touchdown games and are widely available in fantasy leagues.
  • Wide receivers Kendrick Bourne and Ryan Flournoy are potential pickups after posting career highs in receiving yards in Week 5.

Things couldn’t have worked out any better for fantasy football managers who scooped up Carolina Panthers running back Rico Dowdle off the waiver wire last week and put him in their starting lineups.

Dowdle, as you probably know by now, rushed for an NFL season-high 206 yards and found the end zone in his first start of 2025. He would likely be the top priority on this week’s waiver wire, but his roster rate (59% on Yahoo) has climbed above the threshold to be included on our Week 6 list. Even if former starter Chuba Hubbard returns this week against Dallas, Dowdle is worth adding if he’s available.

Meanwhile, there are a number of other options if you’re looking to upgrade your fantasy roster.

Fantasy football players to add for Week 6

Due to the wide variance in types of leagues and individual team needs, the players listed here include their availability rates in Yahoo leagues, which may or may not match rates on other platforms. (Suggested bid values based on $100 free agent acquisition budget for the season.)

RB Michael Carter, Arizona Cardinals (39% rostered)

The big question last week was Carter vs. Emari Demercado as the next man up in Arizona. That was answered definitively with Carter doubling up Demercado in offensive snaps 38-17 and in usage with 18 carries and five receptions for 73 total yards and a score. (It didn’t help Demercado’s case that he fumbled away a potential game-clinching touchdown.) Carter was the lead back on first and second downs and is in position to be the starter for the rest of the way. Those players are rarely found on the waiver wire, so move aggressively. (Recommended FAAB bid: $40)

RBs Hassan Haskins (3%) and Kimani Vidal (1%), Los Angeles Chargers

Injuries are also playing a role in the Chargers’ backfield – which already lost Najee Harris for the season and just this past week saw promising rookie Omarion Hampton go on injured reserve with an ankle injury. Enter the duo of Haskins and Vidal. They were both on the field for 14 snaps in Week 5 with Haskins gaining 13 yards on five carries and Vidal going 4-18. Figure on Haskins getting early-down and short-yardage work with Vidal serving as the change-of-pace back this week at Miami. (FAAB bids: Haskins $12, Vidal $6)

WR Kendrick Bourne, San Francisco 49ers (4%)

Bourne was a godsend for the injury-depleted Niners receiving corps last Thursday, hauling in 10 of 11 targets for a career-high 142 yards. Bourne and Demarcus Robinson served as the main wideouts with Ricky Pearsall and Jauan Jennings both out. We’ll see if either can return this week on extended rest. If not, Bourne could be in for another heavy workload. (FAAB bid: $9)

WR Jalen Coker, Carolina Panthers (9%)

Coker is a sneaky pickup if your league allows players on injured reserve to be added on waivers. Out all season with a quadriceps injury, the Panthers are expected to open Coker’s 21-day practice window this week. He would give QB Bryce Young another viable target to pair with with Tetairoa McMillan. (FAAB bid: $5)

TE Taysom Hill, New Orleans Saints (12%)

If you need a tight end this week, do we have options for you! Leading the way is our resident fantasy zombie. Hill has terrorized fantasy managers throughout his career by vulturing touchdowns and occasionally putting up massive point totals. In his 2025 debut, he appeared exclusively at quarterback, rushing six times for minus-1 yard, but also completing a 19-yard pass. If he’s eligible at a tight end in your league, he’s worth rostering for what he might potentially do with more opportunities. (FAAB bid: $7)

TE Mason Taylor, New York Jets (14%)

The Jets rookie led all tight ends with 12 targets and nine receptions in Week 5. He’s seeing his role grow by the week and reached a season-high 60 snaps in a blowout loss to Dallas. If the Jets are going to keep falling behind and QB Justin Fields is going to have to throw 40 times a game, Taylor will be even more valuable. Unfortunately, the Broncos defense will likely provide more resistance this week than the Cowboys did. (FAAB bid: $7)

TE AJ Barner, Seattle Seahawks (2%)

Barner set a career high with seven receptions for 53 yards and a pair of touchdowns on Sunday, finishing as the top fantasy tight end for the week. He’s now produced four TDs in five weeks. Pick him up for his enticing matchup with Jacksonville in Week 6. (FAAB bid: $6)

TE Theo Johnson, New York Giants (11%)

Another two-TD tight end who’s widely available. QB Jaxson Dart seems comfortable connecting with another rookie, hitting Johnson six times for 33 yards and the two scores on Sunday. A pair of matchups against the Eagles sandwiching one against the Broncos will limit the ceiling for Johnson and fellow tight end Daniel Bellinger (4-52) over the next three weeks. (FAAB bid: $5)

WR Ryan Flournoy, Dallas Cowboys (0%)

Where did THIS guy come from? (A: Southeast Missouri State, if you were wondering) With CeeDee Lamb still out and KeVontae Turpin sidelined, Flournoy stepped into the complementary role alongside George Pickens and hauled in six passes for 114 yards. That, after totaling just 137 yards previously in his two NFL seasons. With QB Dak Prescott playing so well, Flournoy is worth a speculative add to grab at least a speculative a piece of the Cowboys offense. (FAAB bid: $5)

RB A.J. Dillon, Philadelphia Eagles (0%)

Saquon Barkley, fresh off a 30-yard game against Denver, showed up on the injury report Monday with knee soreness. It may be nothing … or it may explain something. Either way, Barkley is expected to play on Thursday against the Giants. Just in case anything concerning pops up between now and then (or afterward), those who have Barkley on their rosters should be aware that Dillion is the definitive handcuff. (FAAB bid: $3)

Fantasy football quarterbacks to stream in Week 6

Sam Darnold, Seattle Seahawks (31%)

C.J. Stroud is the only start-worthy fantasy quarterback on bye this week (pending Lamar Jackson injury news), but the matchups could make a couple of streamers rather enticing. Darnold has been carving up defenses lately, finishing as the QB3 in Week 5 after throwing for four TDs against the Buccaneers. He’s still available in enough leagues to warrant consideration against the Jaguars. (FAAB bid: $6)

QBs Bryce Young, Carolina Panthers (19%)

Young allowed Dowdle to shoulder much of the load in an upset of Miami, but he has shown flashes during the season. The main selling point: The Panthers are playing the Cowboys, who have given up the most fantasy points to quarterbacks this season. (FAAB bid: $4)

QB Joe Flacco, Cincinnati Bengals (2%)

Speaking of fantasy zombies, Tuesday’s trade gives Flacco yet another NFL lifeline after he was benched for rookie Dillon Gabriel in Cleveland. While the 250-mile drive down I-71 doesn’t necessarily make Flacco a fantasy-relevant starter, it does bode well for Bengals wide receivers Ja’Marr Chase and Tee Higgins – who have largely struggled with Jake Browning at QB. (FAAB bid: $1)

This post appeared first on USA TODAY

  • Florida Panthers’ quest for third consecutive championship opens with win vs. Chicago Blackhawks.
  • Newcomers help Pittsburgh Penguins defeat New York Rangers on opening night of the 2025-26 NHL season.
  • The first fight of the 2025-26 NHL season featured Nick Foligno of the Chicago Blackhawks vs. A.J. Greer of the Florida Panthers.

The Florida Panthers raised their Stanley Cup banner on the opening night of the 2025-26 NHL season and showed the efficiency they need to push for a third consecutive championship.

The Panthers downed the Chicago Blackhawks, 3-2, on Oct. 7, dominating early by outshooting them 17-3 and in the first period and 37-19 for the game. Only the play of Chicago goalie Spencer Knight, traded by the Panthers last season, kept the game close.

Though the Blackhawks tied the game in the second period, Jesper Boqvist batted the puck out of the air in the third period to give Florida a 3-2 lead it wouldn’t relinquish.

The Panthers showed they had the depth they need with Aleksander Barkov out seven to nine months and Matthew Tkachuk out until December or longer.

And they avoided more injuries as Sam Reinhart and Evan Rodrigues left briefly and A.J. Greer was slow getting up at one point. But all finished the game.

Exclusive book: Relive the Panthers’ latest Cup

The Pittsburgh Penguins shut out the New York Rangers, 3-0, in the second game of the opening night ESPN tripleheader behind offseason acquisition Arturs Silovs. Another newcomer, Justin Brazeau, scored twice, the first one on a Rangers defensive breakdown that left him alone in front.

Coach Mike Sullivan, in his Rangers debut, fell to his former team, now led by first-time NHL head coach Dan Muse.

The Los Angeles Kings hosted the Colorado Avalanche in the late game.

Here are highlights from the first two games of the NHL’s opening night:

Rangers vs. Penguins highlights

Final score: Penguins 3, Rangers 0

Big night by Justin Brazeau, who had two goals in his Penguins debut. His first, late in the first period, was the game-winner. He then added an empty-netter, as did Blake Lizotte. Goalie Arturs Silovs also had a solid Penguins debut, recording a 25-save shutout.

All of the pregame focus was on new Rangers coach Mike Sullivan facing his former team, but Dan Muse ended up with the win in his NHL head coaching debut.

End of second period: Penguins 1, Rangers 0

The Rangers looked better in that period but they can’t get the puck past Arturs Silovs. He made a big save on Mika Zibanejad to keep the Rangers scoreless.

End of first period: Penguins 1, Rangers 0

Pretty evenly played period. Rangers could have escaped with a tie, but gave up a Justin Brazeau goal because of a defensive breakdown off a faceoff.

Who is Justin Brazeau?

Justin Brazeau, the Penguins scorer, signed a two-year contract and is in his first year in Pittsburgh. The 6-6 forward previously had played with the Minnesota Wild and Boston Bruins. He had 16 goals in 95 games heading into the season.

Score update: Justin Brazeau gives Penguins lead

A Rangers defensive breakdown leads to Justin Brazeau’s goal with 32 seconds left in the first period. He’s left alone in front, takes a pass from Evgeni Malkin and makes a nice move to beat Igor Shesterkin.

Rangers vs. Penguins prediction

4-3 Rangers. Coach Mike Sullivan gets a win against his former team.

Panthers vs Blackhawks highlights

Final score: Panthers 3, Blackhawks 2

The Panthers showed a lot of speed to get past the Blackhawks in the opener. Chicago goalie Spencer Knight was called upon often and kept his team in the game. But though the Blackhawks scored first and tied the game in the second, Florida’s depth won out. Blackhawks forward Frank Nazar will be dangerous this season.

Panthers win

The plastic rats fly onto the ice as the Panthers open their defense of their Stanley Cup title with a 3-2 victory against the Blackhawks.

Spencer Knight goes to the bench

It took a while but the Blackhawks goalie is finally able to get to the bench for an extra skater.

Less than five minutes left

Chicago’s Spencer Knight makes a glove save on Brad Marchand to keep the score 3-2 Florida.

Score update: Panthers take lead

Mackie Samoskevich chips a pass to Jesper Boqvist, who bats in out of the air and past Spencer Knight at 9:40. Panthers 3, Blackhawks 2

Blackhawks power play

Luke Kunin called for high-sticking. Chicago 0-for-2 so far. Florida kills it off. Ryan Donato makes several nice moves but is stopped by Sergei Bobrovsky.

Third period underway

Score tied 2-2.

End of second period: Panthers 2, Blackhawks 2

The Blackhawks played better that period after getting badly outshot in the first period. Teuvo Teravainen tied the game early and drew a couple penalties, but the Blackhawks couldn’t convert on the power play. The Panthers played briefly without Sam Reinhart and Evan Rodrigues after they were hit by pucks, but they returned. A.J. Greer was slow to get up late in the period.

Sam Reinhart injury update

He’s back on the ice after getting stitched up.

Blackhawks power play

Seth Jones goes off for slashing. Panthers kill it off. Sergei Bobrovsky makes a shoulder save on Connor Bedard.

Panthers injury updates

Evan Rodrigues is back on the ice. Coach Paul Maurice tells ESPN that Reinhart is getting sewn up and should be back soon.

Evan Rodrigues injury update

The Florida forward is helped off the ice after being hit by a puck in the leg. He joins teammate Sam Reinhart in the dressing room.

Blackhawks power play

Brad Marchand is called for holding the stick. Florida kills it off but Sam Reinhart heads off after being hit by a puck in the face.

Score update: Blackhawks tie it up

The Blackhawks come out strong in the second period with two breaks up ice. Teuvo Teravainen scores on the second chance off a 2-on-1 break with Frank Nazar. Nazar picks up his second point of the game.

Second period underway

2-1 Florida.

End of first period: Panthers 2, Blackhawks 1

Fun period, but it showed why the Panthers are Cup winners and the Blackhawks are expected to finish near the bottom of the league. Florida had a 17-3 edge in shot, but ex-Panthers goalie Spencer Knight is keeping it close with some big saves. Anton Lundell hit the post late to keep it a one-goal game. A.J. Greer has a goal and a fight. Needs an assist for a Gordie Howe hat trick.

First fight of the season

Chicago’s Nick Foligno vs. Florida’s A.J. Greer.

Score update: Carter Verhaeghe puts Florida ahead

Verhaeghe gets the puck at the side of the crease and beats Spencer Knight on the power play. 2-1 Panthers.

Panthers go on power play

Artyom Levshunov goes to the penalty box again, this time for tripping Brad Marchand.

Score update: Panthers tie game

The Panthers fourth line comes through as A.J. Greer scores on a rebound at 11:06. 1-1.

Score update: Blackhawks take lead

Chicago’s Frank Nazar gets a breakaway and beats Sergei Bobrovsky at 10:03. He just signed a big extension and is in the mix for Team USA at the Olympics. 1-0 Blackhawks.

Panthers go on power play

Artyom Levshunov is called for slashing. Blackhawks kill it off. Panthers get one shot on goal.

Game update: Scoreless so far

No score through the first five minutes. Connor Bedard hit the crossbar. Spencer Knight stopped a Panthers 2-on-1 break.

Puck drops

The 2025-26 NHL season is underway.

Blackhawks lineup

Panthers lineup

Panthers’ Stanley Cup banner raised

Panthers players watch as the 2025 Stanley Cup banner goes to the rafters. Now, it’s on to the 2025-26 season and an attempt for a third consecutive championship.

Panthers on the ice

Aaron Ekblad carries the Stanley Cup out onto the ice. Injured Aleksander Barkov and Matthew Tkachuk are on the bench in street clothes.

When is NHL opening day 2025?

The 2025-26 NHL season opens on Tuesday, Oct. 7 with three games:

  • Chicago Blackhawks at Florida Panthers, 5 p.m. ET
  • Pittsburgh Penguins at New York Rangers, 8 p.m. ET
  • Colorado Avalanche at Los Angeles Kings, 10:30 p.m. ET

How to watch, stream NHL opening night

  • TV: ESPN
  • Streaming: Games can be streamed on ESPN Unlimited and on Fubo, which offers a free trial for new subscribers.

Watch NHL games on Fubo

Where to watch Blackhawks vs. Panthers

The game is being shown on ESPN.

Blackhawks’ Spencer Knight makes homecoming

Goalie Spencer Knight will be playing in Amerant Bank Arena for the first time since he was traded to the Blackhawks on March 1. The 2019 first-round pick was sent to Chicago, along with a first-round pick, trade for defenseman Seth Jones.

T.J. Oshie joins ESPN studio panel

‘Finally got a good-looking guy on the panel,’ Marchand interrupted, laughing. ‘It’s nice having someone good to look at.’

NHL 2025-26 points projections

NHL teams’ home openers

The Panthers, Rangers and Kings are holding their home openers on Oct. 7. Here’s when the other 29 teams will hold theirs.

  • Anaheim Ducks: Oct. 14 vs. Penguins
  • Boston Bruins: Oct. 9 vs. Blackhawks
  • Buffalo Sabres: Oct. 9 vs. Rangers
  • Calgary Flames: Oct. 11 vs. Blues
  • Carolina Hurricanes: Oct. 9 vs. Devils
  • Chicago Blackhawks: Oct. 11 vs. Canadiens
  • Colorado Avalanche: Oct. 9 vs. Mammoth
  • Columbus Blue Jackets: Oct. 13 vs. Devils
  • Dallas Stars: Oct. 14 vs. Wild
  • Detroit Red Wings: Oct. 9 vs. Canadiens
  • Edmonton Oilers: Oct. 8 vs. Flames
  • Minnesota Wild: Oct. 11 vs. Blue Jackets
  • Montreal Canadiens: Oct. 14 vs. Kraken
  • Nashville Predators: Oct. 9 vs. Blue Jackets
  • New Jersey Devils: Oct. 16 vs. Panthers
  • New York Islanders: Oct. 11 vs. Capitals
  • Ottawa Senators: Oct. 13 vs. Predators
  • Philadelphia Flyers: Oct. 13 vs. Panthers
  • Pittsburgh Penguins: Oct. 9 vs. Islanders
  • St. Louis Blues: Oct. 9 vs. Wild
  • San Jose Sharks: Oct. 9 vs. Golden Knights
  • Seattle Kraken: Oct. 9 vs. Ducks
  • Tampa Bay Lightning: Oct. 9 vs. Senators
  • Toronto Maple Leafs: Oct. 8 vs. Canadiens
  • Utah Mammoth: Oct. 15 vs. Flames
  • Vancouver Canucks: Oct. 9 vs. Flames
  • Vegas Golden Knights: Oct. 8 vs. Kings
  • Washington Capitals: Oct. 8 vs. Bruins
  • Winnipeg Jets: Oct. 9 vs. Stars

Panthers vs. Blackhawks prediction

5-2 Florida. The Panthers are two-time champions and have plenty of talent, even without Aleksander Barkov and Matthew Tkachuk in the lineup. The Blackhawks are rebuilding and will be a lottery team.

Panthers championship rings details

The Panthers received championship rings Monday, Oct. 6, and they pulled another rat trick.

Like the rings from 2024, the latest edition includes an engraved rat, a nod to the fans’ tradition of throwing plastic rats onto the rink after victories.

The Panthers received the rings in a private event at War Memorial Auditorium in Fort Lauderdale, Florida, and they feature more than vermin. The rings, handcrafted in white and yellow gold, include more than 450 diamonds and genuine rubies, according to a press release issued by the Panthers. – Josh Peter

Panthers injury updates

The Panthers are missing two key players as they open defense of their back-to-back titles.

Captain Aleksander Barkov will miss seven to nine months after he had knee surgery in September. He was injured during practice and had his ACL and MCL repaired.

The Panthers also are missing Matthew Tkachuk, who had offseason surgery to repair a torn adductor muscle and a hernia. He’s out until ‘December-ish,’ general manager Bill Zito said.

This post appeared first on USA TODAY

  • Florida Panthers’ quest for third consecutive championship opens with win vs. Chicago Blackhawks.
  • Newcomers help Pittsburgh Penguins defeat New York Rangers on opening night of the 2025-26 NHL season.
  • The first fight of the 2025-26 NHL season featured Nick Foligno of the Chicago Blackhawks vs. A.J. Greer of the Florida Panthers.

The Florida Panthers raised their Stanley Cup banner on the opening night of the 2025-26 NHL season and showed the efficiency they need to push for a third consecutive championship.

The Panthers downed the Chicago Blackhawks, 3-2, on Oct. 7, dominating early by outshooting them 17-3 and in the first period and 37-19 for the game. Only the play of Chicago goalie Spencer Knight, traded by the Panthers last season, kept the game close.

Though the Blackhawks tied the game in the second period, Jesper Boqvist batted the puck out of the air in the third period to give Florida a 3-2 lead it wouldn’t relinquish.

The Panthers showed they had the depth they need with Aleksander Barkov out seven to nine months and Matthew Tkachuk out until December or longer.

And they avoided more injuries as Sam Reinhart and Evan Rodrigues left briefly and A.J. Greer was slow getting up at one point. But all finished the game.

Exclusive book: Relive the Panthers’ latest Cup

The Pittsburgh Penguins shut out the New York Rangers, 3-0, in the second game of the opening night ESPN tripleheader behind offseason acquisition Arturs Silovs. Another newcomer, Justin Brazeau, scored twice, the first one on a Rangers defensive breakdown that left him alone in front.

Coach Mike Sullivan, in his Rangers debut, fell to his former team, now led by first-time NHL head coach Dan Muse.

In the final game of the NHL’s season-opening tripleheader, the Colorado Avalanche defeated the Los Angeles Kings, 4-1.

Here are highlights from the NHL’s opening night:

Avalanche vs. Kings highlights

Final score: Avalanche 4, Kings 1

Martin Nečas scored two goals as the Colorado Avalanche picked up a season-opening road win over the Kings in Los Angeles.

Artturi Lehkonen and Sam Malinski scored a goal apiece for Colorado, which is hoping its embarking on a ninth consecutive playoff season.

Rangers vs. Penguins highlights

Final score: Penguins 3, Rangers 0

Big night by Justin Brazeau, who had two goals in his Penguins debut. His first, late in the first period, was the game-winner. He then added an empty-netter, as did Blake Lizotte. Goalie Arturs Silovs also had a solid Penguins debut, recording a 25-save shutout.

All of the pregame focus was on new Rangers coach Mike Sullivan facing his former team, but Dan Muse ended up with the win in his NHL head coaching debut.

End of second period: Penguins 1, Rangers 0

The Rangers looked better in that period but they can’t get the puck past Arturs Silovs. He made a big save on Mika Zibanejad to keep the Rangers scoreless.

End of first period: Penguins 1, Rangers 0

Pretty evenly played period. Rangers could have escaped with a tie, but gave up a Justin Brazeau goal because of a defensive breakdown off a faceoff.

Who is Justin Brazeau?

Justin Brazeau, the Penguins scorer, signed a two-year contract and is in his first year in Pittsburgh. The 6-6 forward previously had played with the Minnesota Wild and Boston Bruins. He had 16 goals in 95 games heading into the season.

Score update: Justin Brazeau gives Penguins lead

A Rangers defensive breakdown leads to Justin Brazeau’s goal with 32 seconds left in the first period. He’s left alone in front, takes a pass from Evgeni Malkin and makes a nice move to beat Igor Shesterkin.

Rangers vs. Penguins prediction

4-3 Rangers. Coach Mike Sullivan gets a win against his former team.

Panthers vs Blackhawks highlights

Final score: Panthers 3, Blackhawks 2

The Panthers showed a lot of speed to get past the Blackhawks in the opener. Chicago goalie Spencer Knight was called upon often and kept his team in the game. But though the Blackhawks scored first and tied the game in the second, Florida’s depth won out. Blackhawks forward Frank Nazar will be dangerous this season.

Panthers win

The plastic rats fly onto the ice as the Panthers open their defense of their Stanley Cup title with a 3-2 victory against the Blackhawks.

Spencer Knight goes to the bench

It took a while but the Blackhawks goalie is finally able to get to the bench for an extra skater.

Less than five minutes left

Chicago’s Spencer Knight makes a glove save on Brad Marchand to keep the score 3-2 Florida.

Score update: Panthers take lead

Mackie Samoskevich chips a pass to Jesper Boqvist, who bats in out of the air and past Spencer Knight at 9:40. Panthers 3, Blackhawks 2

Blackhawks power play

Luke Kunin called for high-sticking. Chicago 0-for-2 so far. Florida kills it off. Ryan Donato makes several nice moves but is stopped by Sergei Bobrovsky.

Third period underway

Score tied 2-2.

End of second period: Panthers 2, Blackhawks 2

The Blackhawks played better that period after getting badly outshot in the first period. Teuvo Teravainen tied the game early and drew a couple penalties, but the Blackhawks couldn’t convert on the power play. The Panthers played briefly without Sam Reinhart and Evan Rodrigues after they were hit by pucks, but they returned. A.J. Greer was slow to get up late in the period.

Sam Reinhart injury update

He’s back on the ice after getting stitched up.

Blackhawks power play

Seth Jones goes off for slashing. Panthers kill it off. Sergei Bobrovsky makes a shoulder save on Connor Bedard.

Panthers injury updates

Evan Rodrigues is back on the ice. Coach Paul Maurice tells ESPN that Reinhart is getting sewn up and should be back soon.

Evan Rodrigues injury update

The Florida forward is helped off the ice after being hit by a puck in the leg. He joins teammate Sam Reinhart in the dressing room.

Blackhawks power play

Brad Marchand is called for holding the stick. Florida kills it off but Sam Reinhart heads off after being hit by a puck in the face.

Score update: Blackhawks tie it up

The Blackhawks come out strong in the second period with two breaks up ice. Teuvo Teravainen scores on the second chance off a 2-on-1 break with Frank Nazar. Nazar picks up his second point of the game.

Second period underway

2-1 Florida.

End of first period: Panthers 2, Blackhawks 1

Fun period, but it showed why the Panthers are Cup winners and the Blackhawks are expected to finish near the bottom of the league. Florida had a 17-3 edge in shot, but ex-Panthers goalie Spencer Knight is keeping it close with some big saves. Anton Lundell hit the post late to keep it a one-goal game. A.J. Greer has a goal and a fight. Needs an assist for a Gordie Howe hat trick.

First fight of the season

Chicago’s Nick Foligno vs. Florida’s A.J. Greer.

Score update: Carter Verhaeghe puts Florida ahead

Verhaeghe gets the puck at the side of the crease and beats Spencer Knight on the power play. 2-1 Panthers.

Panthers go on power play

Artyom Levshunov goes to the penalty box again, this time for tripping Brad Marchand.

Score update: Panthers tie game

The Panthers fourth line comes through as A.J. Greer scores on a rebound at 11:06. 1-1.

Score update: Blackhawks take lead

Chicago’s Frank Nazar gets a breakaway and beats Sergei Bobrovsky at 10:03. He just signed a big extension and is in the mix for Team USA at the Olympics. 1-0 Blackhawks.

Panthers go on power play

Artyom Levshunov is called for slashing. Blackhawks kill it off. Panthers get one shot on goal.

Game update: Scoreless so far

No score through the first five minutes. Connor Bedard hit the crossbar. Spencer Knight stopped a Panthers 2-on-1 break.

Puck drops

The 2025-26 NHL season is underway.

Blackhawks lineup

Panthers lineup

Panthers’ Stanley Cup banner raised

Panthers players watch as the 2025 Stanley Cup banner goes to the rafters. Now, it’s on to the 2025-26 season and an attempt for a third consecutive championship.

Panthers on the ice

Aaron Ekblad carries the Stanley Cup out onto the ice. Injured Aleksander Barkov and Matthew Tkachuk are on the bench in street clothes.

When is NHL opening day 2025?

The 2025-26 NHL season opens on Tuesday, Oct. 7 with three games:

  • Chicago Blackhawks at Florida Panthers, 5 p.m. ET
  • Pittsburgh Penguins at New York Rangers, 8 p.m. ET
  • Colorado Avalanche at Los Angeles Kings, 10:30 p.m. ET

How to watch, stream NHL opening night

  • TV: ESPN
  • Streaming: Games can be streamed on ESPN Unlimited and on Fubo, which offers a free trial for new subscribers.

Watch NHL games on Fubo

Where to watch Blackhawks vs. Panthers

The game is being shown on ESPN.

Blackhawks’ Spencer Knight makes homecoming

Goalie Spencer Knight will be playing in Amerant Bank Arena for the first time since he was traded to the Blackhawks on March 1. The 2019 first-round pick was sent to Chicago, along with a first-round pick, trade for defenseman Seth Jones.

T.J. Oshie joins ESPN studio panel

‘Finally got a good-looking guy on the panel,’ Marchand interrupted, laughing. ‘It’s nice having someone good to look at.’

NHL 2025-26 points projections

NHL teams’ home openers

The Panthers, Rangers and Kings are holding their home openers on Oct. 7. Here’s when the other 29 teams will hold theirs.

  • Anaheim Ducks: Oct. 14 vs. Penguins
  • Boston Bruins: Oct. 9 vs. Blackhawks
  • Buffalo Sabres: Oct. 9 vs. Rangers
  • Calgary Flames: Oct. 11 vs. Blues
  • Carolina Hurricanes: Oct. 9 vs. Devils
  • Chicago Blackhawks: Oct. 11 vs. Canadiens
  • Colorado Avalanche: Oct. 9 vs. Mammoth
  • Columbus Blue Jackets: Oct. 13 vs. Devils
  • Dallas Stars: Oct. 14 vs. Wild
  • Detroit Red Wings: Oct. 9 vs. Canadiens
  • Edmonton Oilers: Oct. 8 vs. Flames
  • Minnesota Wild: Oct. 11 vs. Blue Jackets
  • Montreal Canadiens: Oct. 14 vs. Kraken
  • Nashville Predators: Oct. 9 vs. Blue Jackets
  • New Jersey Devils: Oct. 16 vs. Panthers
  • New York Islanders: Oct. 11 vs. Capitals
  • Ottawa Senators: Oct. 13 vs. Predators
  • Philadelphia Flyers: Oct. 13 vs. Panthers
  • Pittsburgh Penguins: Oct. 9 vs. Islanders
  • St. Louis Blues: Oct. 9 vs. Wild
  • San Jose Sharks: Oct. 9 vs. Golden Knights
  • Seattle Kraken: Oct. 9 vs. Ducks
  • Tampa Bay Lightning: Oct. 9 vs. Senators
  • Toronto Maple Leafs: Oct. 8 vs. Canadiens
  • Utah Mammoth: Oct. 15 vs. Flames
  • Vancouver Canucks: Oct. 9 vs. Flames
  • Vegas Golden Knights: Oct. 8 vs. Kings
  • Washington Capitals: Oct. 8 vs. Bruins
  • Winnipeg Jets: Oct. 9 vs. Stars

Panthers vs. Blackhawks prediction

5-2 Florida. The Panthers are two-time champions and have plenty of talent, even without Aleksander Barkov and Matthew Tkachuk in the lineup. The Blackhawks are rebuilding and will be a lottery team.

Panthers championship rings details

The Panthers received championship rings Monday, Oct. 6, and they pulled another rat trick.

Like the rings from 2024, the latest edition includes an engraved rat, a nod to the fans’ tradition of throwing plastic rats onto the rink after victories.

The Panthers received the rings in a private event at War Memorial Auditorium in Fort Lauderdale, Florida, and they feature more than vermin. The rings, handcrafted in white and yellow gold, include more than 450 diamonds and genuine rubies, according to a press release issued by the Panthers. – Josh Peter

Panthers injury updates

The Panthers are missing two key players as they open defense of their back-to-back titles.

Captain Aleksander Barkov will miss seven to nine months after he had knee surgery in September. He was injured during practice and had his ACL and MCL repaired.

The Panthers also are missing Matthew Tkachuk, who had offseason surgery to repair a torn adductor muscle and a hernia. He’s out until ‘December-ish,’ general manager Bill Zito said.

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Dallas Cowboys owner Jerry Jones was seen raising his middle finger during Dallas’ 37-22 win over the New York Jets on Sunday at MetLife Stadium. The 82-year-old will pay a hefty price for doing so.

The NFL is fining Jones $250,000 for his gesture, ESPN’s Adam Schefter reports.

Jones was asked about his actions during his weekly spot on 105.3 The Fan in Dallas on Tuesday. The octogenarian owner insisted his gesture was ‘inadvertent.’

‘That was unfortunate. That was kind of an exchange with our fans out in front of us,’ Jones said Tuesday on 105.3 The Fan in Dallas, per ESPN. ‘There was a swarm of Cowboys fans out in front – not Jets fans, Cowboys fans. The entire stadium was brimming with enthusiasm of the Cowboys and certainly late in the game.

‘[The gesture] was inadvertent on my part because that was right after we made our last touchdown, and we were all excited about it. There wasn’t any antagonistic issue or anything like that. I just put up the wrong show on the hand. That was inadvertently done. I’m not kidding. If you want to call it accidental, you can call it accidental. But it got straightened around pretty quick. I had a chance to look at it. It got straightened out pretty quick, but the intention was ‘thumbs up,’ and basically pointing at our fans because everybody was jumping up and down excited.’

This isn’t the first time an NFL owner has been fined for raising his middle finger to fans. In 2009, Bud Adams – then the owner of the Tennessee Titans – was given a $250,000 fine for making an obscene gesture after his team beat the Buffalo Bills 41-17.

Adams apologized for his actions at the time in a statement.

‘I got caught up in the excitement of a great day, but I do realize that those types of things shouldn’t happen,’ Adams said, per ESPN. ‘I need to specifically apologize to the Bills, their fans, our fans and the NFL.

‘I obviously have a great deal of respect for [Bills owner] Ralph Wilson and the history we have shared. I also understand there will probably be league discipline for my actions and I will accept those.’

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Many fantasy football managers are heading into Week 6 of the 2025 NFL season with their squads bruised and battered.

Many top-tier fantasy contributors have been injured in the early stages of the 2025 campaign. Joe Burrow, James Conner, Bucky Irving, Omarion Hampton, Tyreek Hill, Malik Nabers and CeeDee Lamb are just a handful of the top-end contributors who have been sidelined by injuries.

As a result, fantasy managers have had to scour the waiver wire for potential replacements and make some grueling start ’em, sit ’em decisions.

Those trusting the Cardinals backfield in Week 5 after Trey Benson was placed on IR got a taste of just how difficult those start/sit choices can be. Many scooped up Emari Demercado thinking he would be the next man up on Arizona’s depth chart; instead, Michael Carter was the backfield leader and out-touched Demercado 23-3 during Sunday’s action.

In Week 6, fantasy managers will be met with similar concerns within committee backfields as they search for bye week replacements for the likes of Jordan Mason, Nick Chubb, Justin Jefferson and Nico Collins.

USA TODAY Sports outlines 16 players to start or sit in your fantasy matchups this week.

Fantasy football players to start in Week 6

Quarterbacks

  • Matthew Stafford, Los Angeles Rams (at Baltimore Ravens)

The Ravens are ravaged by injuries at all levels of their defense, which has led Baltimore to allow a league-high 35.4 points per game entering Week 6. Stafford has thrown for 375 yards and three touchdowns in back-to-back games, making this an ideal spot in which to back the 37-year-old veteran.

  • Justin Herbert, Los Angeles Chargers (at Miami Dolphins)

Fantasy managers may be inclined to sit Herbert given that he has only logged one total touchdown in each of his last three starts. That said, the Dolphins are allowing the third-most FPPG to quarterbacks, including a league-high four rushing touchdowns to the position. Herbert just scrambled for 60 yards against the Commanders, so his floor is higher than normal in this juicy matchup.

Running backs

  • Rico Dowdle, Carolina Panthers (vs. Dallas Cowboys)

Even if Chuba Hubbard returns from the calf injury that kept him out in Week 5, you can still start Dowdle. The 27-year-old just racked up 206 rushing yards against the Dolphins and now gets to face a Cowboys team that is allowing the sixth-most FPPG to running backs.

Oh yeah, this is also a revenge game for Dowdle – who spent the first four seasons of his career in Dallas but wasn’t re-signed during the offseason – so it’s safe to say he should be motivated for this one.

  • Hassan Haskins, Los Angeles Chargers (at Miami Dolphins)

Speaking of Dowdle’s big performance, it came against a Dolphins defense that has allowed a league-high 668 rushing yards to running backs this season. Omarion Hampton is going on IR with an ankle injury, which should position one of his backups, Haskins or Kimani Vidal, for a big day. Vidal is the more explosive back, but Haskins (6-2, 228 pounds) figures to get a larger volume of carries and the team’s goal-line work. Feel free to trust him if you’re desperate at RB or need flex help.

Wide receivers

  • A.J. Brown, Philadelphia Eagles (at New York Giants)

Brown has had a frustrating season to date. Still, he produced a respectable five catches for 43 yards in a tough Week 5 matchup against Pat Surtain and could’ve caught a long touchdown had Jalen Hurts not overthrown him. Expect Brown to have a breakout game on ‘Thursday Night Football’ against a Giants team that has allowed the second-most receiving yards to wide-outs this season (924).

  • Calvin Ridley, Tennessee Titans (vs. Las Vegas Raiders)

Ridley showed signs of life in Week 5, nearly doubling his season-long receiving total with a five-catch, 131-yard showing against the Cardinals. He should continue to improve as he builds more chemistry with Cam Ward and has a good matchup against a Raiders defense that has allowed 70 receptions to wide receivers, tied for second most in the NFL.

Tight end

  • Evan Engram, Denver Broncos (at New York Jets)

Engram has seen 13 targets over his last two games and caught his first touchdown with the Broncos in their win over the Eagles. The Jets have allowed a league-high five touchdowns to tight ends, so don’t be afraid to back Engram in this favorable matchup.

Defense/special teams:

  • New England Patriots (at New Orleans Saints)

The Patriots just forced the Bills into three turnovers after Buffalo had just one total over the first four weeks. Now, Mike Vrabel’s squad is facing a New Orleans team that has surprisingly allowed only three turnovers through five weeks. Expect that to change, as Spencer Rattler’s nine turnover-worthy plays are tied for second-most in the league behind Geno Smith while the second-year quarterback has been sacked nine times.

Fantasy football players to sit in Week 6

Quarterbacks

  • Justin Fields, New York Jets (vs. Denver Broncos)

No team playing in Week 6 has allowed fewer FPPG to quarterbacks than the Broncos. Denver has also allowed a league-low 15 rushing yards to the position and is fresh off a game during which it limited Jalen Hurts to three yards on two runs. That could prove problematic for Fields, as his legs are his biggest fantasy asset.

  • Tua Tagovailoa, Miami Dolphins (vs. Los Angeles Chargers)

There may be some temptation to start Tagovailoa, as he has posted multiple touchdowns in four consecutive games and had a season-high three scores in Week 5 against the Panthers. However, the Chargers have only allowed four passing touchdowns to quarterbacks all season, and no more than one in a single game. That could limit Tagovailoa’s ceiling in a game-script that should be more favorable for running back De’Von Achane.

Running backs

  • Chase Brown, Cincinnati Bengals (at Green Bay Packers)

It may not be easy to bench Brown given the injuries that are piling up at running back around the NFL. Still, the Bengals offensive line has struggled immensely this season, which has led Brown to average 2.5 yards per carry, worst in the league among 44 qualifiers, and just 51 total yards per game.

The Packers have allowed the fourth-fewest FPPG to RBs, though their 6.5 receptions allowed per game to the position could inspire hope for fantasy managers in PPR leagues. Still, Brown has a low floor and ceiling combination in this tough matchup.

  • Michael Carter, Arizona Cardinals (at Indianapolis Colts)

Carter had 23 total touches in the Cardinals’ 22-21 loss to the Titans but turned them into just 73 yards. His 2.8 yards per carry average wasn’t overly impressive despite playing a Tennessee defense that has allowed the second-most rushing yards to running backs this season (613). That likely relegates Carter to a role as a TD-dependent flex against a Colts defense that has allowed just two rushing touchdowns to running backs this season (tied for fifth-fewest in the NFL).

Wide receivers

  • Jameson Williams, Detroit Lions (at Kansas City Chiefs)

Williams is a big-play threat who is averaging 20.3 yards per reception, but he hasn’t posted more than two catches in a game since Week 1. The Chiefs have been good against receivers this season, so Williams’ ceiling as a boom-or-bust flex probably isn’t worth chasing in this matchup.

  • Kendrick Bourne, San Francisco 49ers (at Tampa Bay Buccaneers)

Bourne is fresh off a 10-catch, 142-yard outing in the 49ers’ overtime win over the Rams in Week 5. Could he repeat those numbers? It’s possible, but it may not be likely with Jauan Jennings and Ricky Pearsall potentially returning from injury.

If only one returns, Bourne could be a viable flex play given his chemistry with Mac Jones. But if both are back, Bourne probably won’t have the volume needed to be a top-tier fantasy contributor in Week 6.

Tight end

  • Kyle Pitts, Atlanta Falcons (vs. Buffalo Bills)

Pitts has had a nice start to the 2025 NFL season, but he gets a tough matchup against a Bills team that has allowed just 11 catches, 113 yards and one touchdown to the position through five games. Buffalo just limited Juwan Johnson to a three-catch, 28-yard outing and Hunter Henry to two catches for 46 yards, so expect similarly unspectacular results for Pitts.

Defense/special teams:

  • Jacksonville Jaguars (vs. Seattle Seahawks)

The Jaguars lead the NFL in takeaways through Week 5, but they are going against a red-hot Seahawks offense in Week 6. Sam Darnold just threw for 341 yards, four touchdowns and an interception against the Buccaneers, so it’s probably best to leave Jacksonville on the bench in this matchup.

All the NFL news on and off the field. Sign up for USA TODAY’s 4th and Monday newsletter.

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The oil market struggled in Q3 as prices continued to soften under mounting supply pressure.

Following moderate gains in H1, prices contracted through Q3, ending the quarter lower than their July 1 start positions.

Brent crude started the period at US$67.10 per barrel and finished at US$65.90, a 1.7 percent decline. Similarly, West Texas Intermediate (WTI) entered the 90 day session at US$65.55 per barrel, slipping to US$62.33 by September 30.

In its recently released energy, oil and gas report for the third quarter, Deloitte attributes the summer price slump to rising global oil inventories and OPEC+ easing production cuts sooner than expected.

“OPEC+ recently announced a 137 million barrels per day (MMbbl/d) production quota increase for October, beginning the reversal of 1.65 MMbbl/d of voluntary cuts that were originally set to stay in place through 2026,” it reads.

Supply has also exceeded demand in the US by 1.6 MMbbl/d between May and August, according to the US Energy Information Administration (EIA), fueling projections of further stock builds for the remainder of the year.

“We expect inventory builds will average 2.1 MMbbl/d in the second half of 2025 and will remain elevated through 2026, putting significant downward pressure on oil prices,” the EIA notes in its September short-term energy forecast.

WTI price performance, December 31, 2024, to October 6, 2025.

Oil prices under pressure amid rising inventories, sluggish demand

Such gains are unusual for the shoulder season, when demand typically dips to around 103 million to 104 million barrels per day, compared to 106 million in summer and winter, Schachter pointed out.

On the flip side, global oil demand in the third quarter remained subdued, with growth projections of approximately 700,000 barrels per day (bpd) for both 2025 and 2026, according to the International Energy Agency (IEA).

This marks a significant slowdown compared to the 2.8 percent growth observed in 2024.

The IEA attributes this deceleration to factors such as high interest rates, economic uncertainties and structural shifts in energy consumption patterns. Looking ahead, the organization projects a modest rebound in global oil demand, with an anticipated increase of 700,000 bpd in 2026. However, this growth is contingent upon factors such as economic stabilization, energy policy developments, and potential shifts in global trade dynamics.

“Demand is weaker. Inventories are high, OPEC is raising production, and so we have all of that, and we think that we’re going to see WTI below US$60,” said Schachter, adding that he expects to see WTI values sink to the US$56 to US$59 range in the fourth quarter.

Geopolitical tensions drive oil price volatility

Much of the oil price volatility exhibited in the third quarter was driven by geopolitical factors, according to Igor Isaev, Doctor of Technical Sciences, and head of Mind Money’s Analytics Center.

‘Prices have swung sharply, driven by a complex interplay of geopolitical flashpoints, punitive trade policies and structural changes in supply dynamics. From Tehran to Texas, the forces shaping global energy are no longer cyclical — they’ve become groundbreaking, unveiling symptoms of a broader recalibration of energy security and sovereignty.”

As Isaev explained, while these forces aren’t new, they have been especially impactful amid heightened global strife.

“At the heart of recent volatility lies a familiar trio: tariffs, conflict and fragility. US-China trade tensions have resurfaced in the form of targeted energy tariffs, while carbon border adjustments in Europe have added further complexities to global flows,” the expert explained. “Meanwhile, geopolitical instability in Iran, Venezuela, Russia and parts of Africa continues to inject a risk premium into every barrel.”

Despite all the market turbulence, Isaev noted that one steady factor persists — US shale’s balancing act. Once the industry’s great disruptor, shale now serves more as a pressure valve during supply crunches than a growth engine.

However its flexibility is waning. Higher interest rates, escalating service costs and maturing geology, particularly in the Permian Basin, have shifted producers’ focus from expansion to efficiency, he said.

“Its role heading into 2026 will be stabilizing, but not leading.”

For Schachter, the weak price environment falls below the incentive price for US shale producers.

Currently, shale production remains resilient, hitting 13.5 million barrels per day the first week of October, up 200,000 barrels from last year, he said. Producers continue to tap high-quality, tier-one reserves using advanced techniques like longer-reach, multi-leg wells and improved completions, keeping some operations profitable even at US$61.

Oil and gas M&A volume slows, but values surge

As uncertainty abounds companies continue to shy away from deal making. An August report from Wood Mackenzie notes that deal activity in 2025 is down 10 percent, to only 85 sector wide by mid-August.

“The number of deals has been declining progressively since 2022, making this the seventh consecutive half-year drop, with volumes now well below the ten-year average,” the firm’s analysis reads.

Despite the volume decline, values are on the rise.

“At US$71 billion, the overall value of disclosed deals was higher than the half-year average for the last five years, and a huge 80% higher than the unusually low total for the previous half year,” the report continues.

One of the largest deals announced during the quarter was Crescent Energy’s (NYSE:CRGY) acquisition of Vital Energy (TSXV:VUX,NYSE:VTLE), an all-stock deal valued at US$3.1 billion.

The deal will birth one of the 10 largest independent oil and gas producers in the US. The combined company will operate across major basins, including the Eagle Ford, Permian and Uinta.

Although deal volumes have retracted, both Isaev and Schachter anticipate majors heading to market in an effort to bolster their market share.

“M&A activity in North America is likely to accelerate,” said Isaev. “Consolidation will be driven not by land grabs, but by strategic repositioning — especially in LNG, CCS and low-carbon petrochemicals. I expect deals prioritizing operational efficiency, reserve quality and transition alignment over immediate revenue effect.”

For Schachter, majors play a pivotal role in securing today’s oil supply, as well as in funding the innovation for future oil production. “You’re always going to see the big boys go after the medium boys,” he said. “Once you find a good asset, you want to control more and more of it, so you buy other people up. So I think consolidation will be there.”

He went on to note that new technology will open up more plays offshore in the Gulf of Mexico.

“We haven’t really talked a lot about discoveries in the Gulf of Mexico for a long time; I think there will be new technology that will be applied to drilling,’ Schachter commented.

Accessing these offshore assets will not be cheap, as he estimates the wells there could cost upwards of US$50 million wells compared to under US$10 million for an onshore well.

“So that’s going to require the big boys to do that. But the prizes can be there, as we found with Guyana,” said Schachter, pointing to the Caribbean nation’s growth from no output to over 600,000 barrels per day currently.

Gas demand weakens as LNG expansion fuels potential Asian growth

After a sharp rebound in 2024, global natural gas demand slowed notably in the first half of 2025 as high prices, tight supply and economic uncertainty curbed consumption.

That was particularly true in Asia, where both China and India posted year-on-year declines.

Starting the third quarter at US$3.43 per million British thermal units, natural gas values contracted through July and August sinking to a year-to-date low of US$2.73 on August 20, 2025.

Values have since regained lost ground ending the three month period in the US$3.35 range.

Natural gas price performance, December 31, 2024, to October 6, 2025.

As noted in the IEA’s Q3 gas market report, Europe’s LNG imports are on track to hit record highs this year, driven by storage needs and reduced Russian pipeline flows.

Meanwhile, China’s imports are falling amid weaker demand and competition for cargoes, and ongoing geopolitical tensions, including the Israel-Iran conflict, have added volatility and uncertainty to an already fragile market.

Isaev underscored the importance of geography and regional tensions in relation to the gas market.

“In the natural gas arena, the pivot is predominantly geographic. European demand has somewhat rebounded, driven by colder winters and a continued retreat from Russian pipeline gas,’ he said.

Asia, by contrast, has seen softer industrial demand and increased reliance on domestic coal. For Canadian and US producers, this shift presents a strategic opening,” Isaev continued.

He went on to explain that LNG export infrastructure expansion, from BC to the US Gulf Coast, and long-term contracts with European buyers are “becoming geopolitical tools as much as commercial deals.”

While Schachter sees moderate European demand growth due to sluggish economic expansion, the longer-term surge is expected from Asia. As he pointed out, countries such as Japan, South Korea, China and Vietnam, which lack domestic reserves, will increasingly import LNG from sources like Australia, Papua New Guinea, the Gulf Coast and Canada.

‘And prices (in Asia) might be US$11 to US$12 compared to US$3.50 in the US,” said Schachter.

Looking ahead, the EIA forecasts that LNG supply growth is expected to surge in 2026 — led by new output from the US, Canada and Qatar — easing market pressures and potentially reigniting demand across Asia.

Oil and gas market forecast for Q4

Moving into the rest of 2025 and early 2026, Schacter warned that weather remains a key wildcard for energy markets.

He recommended watching whether winter will be mild or unusually cold, as Arctic fronts could spike oil and natural gas prices. Early forecasts, including those from the Farmers’ Almanac, suggest a colder-than-normal winter, though factors like El Niño could influence outcomes and add further uncertainty.

The oil and gas sector veteran, who will be hosting his annual Catch the Energy conference in Calgary in mid-October, also cautioned that global geopolitical risks remain a key market driver. Any disruptions in strategic chokepoints like the straits of Malacca or Hormuz, which could block crude shipments, have the potential to push oil prices higher.

‘And if we do, that’s going to be very, very good for the industry.”

Isaev pointed to OPEC+ tactical production, US shale prioritizing capital discipline over output growth, and LNG shipments to Europe and Japan being increasingly influenced by geopolitical dynamics, as key trends to watch.

“When you factor in the ongoing tensions in the Middle East and West Africa, along with the regulatory shifts surrounding carbon pricing and exploration permits, it’s evident that 2025 isn’t just going to be volatile — it’s a year for strategic realignment,” he said. “The advantage will go to those who can skillfully navigate this complexity, foresee critical turning points and invest their capital with both accuracy and creativity.”

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Thanks to exchange-traded funds (ETFs), investors don’t have to be tied to one specific stock. When it comes to biotech ETFs, they give sector participants exposure to many biotech companies via one vehicle.

ETFs are a popular choice as they allow investors to enter the market more safely compared to investing in standalone stocks. A key advantage is that even if one company in the ETF takes a hit, the impact will be less direct.

All other figures were also current as of that date. Read on to learn more about these investment vehicles.

1. ALPS Medical Breakthroughs ETF (ARCA:SBIO)

AUM: US$95.57 million

Launched in December 2014, the ALPS Medical Breakthroughs ETF tracks small- and mid-cap biotech stocks that have one or more drugs in either Phase II or Phase III US FDA clinical trials. Its holdings must have a market cap between US$200 million and US$5 billion.

There are 102 holdings in this biotech fund, with about 40 percent being small- and micro-cap stocks. Its top holdings include Cytokinetics (NASDAQ:CYTK) at a weight of 3.62 percent, Merus (NASDAQ:MRUS) at 3.51 percent and Avidity Biosciences (NASDAQ:RNA) at 3.43 percent.

2. Tema Oncology ETF (NASDAQ:CANC)

AUM: US$82.42 million

The Tema Oncology ETF provides exposure to biotech companies operating in the oncology industry. Launched in August 2023, it includes companies developing a range of cancer treatments, including CAR-T cell therapies and bispecific antibodies.

There are 51 holdings in this biotechnology fund, of which just over half are small- to mid-cap stocks. Among its top holdings are Revolution Medicines (NASDAQ:RVMD) at a weight of 6.29 percent, Eli Lilly and Company (NYSE:LLY) at 5.47 percent and Genmab (NASDAQ:GMAB) at 5.32 percent.

3. Direxion Daily S&P Biotech Bear 3x Shares (ARCA:LABD)

AUM: US$78.98 million

The Direxion Daily S&P Biotech Bear 3x Shares ETF is designed to provide three times the daily return of the inverse of the S&P Biotechnology Select Industry Index, meaning that the ETF rises in value when the index falls and falls in value when the index rises. Leveraged inverse ETFs are designed for short-term trading and are not suitable for holding long-term. They also carry a high degree of risk as they can be significantly affected by market volatility.

Unlike the other ETFs on this list, LABD achieves its investment objective through holding financial contracts such as futures rather than holding individual stocks.

4. ProShares Ultra NASDAQ Biotechnology (NASDAQ:BIB)

AUM: US$62.42 million

The ProShares Ultra NASDAQ Biotechnology ETF, launched in April 2010, is leveraged to offer twice daily long exposure to the broad-based NASDAQ Biotechnology Index, making it an ideal choice “for investors with a bullish short-term outlook for biotechnology or pharmaceutical companies.” However, analysts also advise investors with a low risk tolerance or a buy-and-hold strategy against investing in this fund due to its unique nature.

Of the 260 holdings in this ETF, the top biotech stocks are Vertex Pharmaceuticals (NASDAQ:VRTX) at a 5.05 percent weight, Amgen (NASDAQ:AMGN) at 5.01 percent and Gilead Sciences (NASDAQ:GILD) at 4.93 percent.

5. Tema Heart and Health ETF (NASDAQ:HRTS)

AUM: US$51.68 million

Launched in November 2023, the Tema GLP-1 Obesity and Cardiometabolic ETF tracks biotech stocks with a focus on diabetes, obesity and cardiovascular diseases. The fund was renamed on March 25 from Tema Cardiovascular and Metabolic ETF, and again on June 27 from the GLP-1 Obesity and Cardiometabolic ETF.

There are 47 holdings in this biotechnology fund, with about 75 percent being large-cap stocks and 22 percent mid-cap. About three-quarters of its holdings are based in the US. Its top biotech holdings are Eli Lilly and Company at a 8.47 percent weight, AstraZeneca (NASDAQ:AZN) at 4.39 percent and Abbott Laboratories (NYSE:ABT) at 4.58 percent.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Canada One Mining (TSXV:CONE, OTC:COMCF, FSE:AU31) is an emerging explorer focused on the Quesnel porphyry belt, one of Canada’s most prolific critical mineral districts. Its flagship Copper Dome project, adjacent to the 45,000 t/day Copper Mountain mine (702 Mt at 0.24 percent copper, 0.09 grams per ton gold, 0.72 grams per ton silver), offers brownfield porphyry copper potential with strong discovery upside.

The flagship Copper Dome project is a 12,800-hectare, 100-percent-owned land package located just 1.5 km south of Hudbay Minerals’ Copper Mountain mine and 18 km from Princeton, British Columbia. With year-round road access, grid power, water supply, and nearby services, the project requires no camp or helicopter support and sits within a three-hour drive of Vancouver.

Positioned in the lower Quesnel porphyry belt—one of Canada’s most prolific porphyry copper districts—Copper Dome offers compelling exploration potential. Backed by a fully permitted, five-year drill program, the project is poised to deliver near-term results and game-changing catalysts.

Company Highlights

  • Flagship Copper Project in Tier-1 Jurisdiction: 12,800 ha Copper Dome land package, adjacent to Hudbay’s Copper Mountain mine, one of Canada’s most prominent copper operations.
  • Discovery Thesis: Porphyry cluster-style deposit potential; Copper Mountain deposit analogs average ~150 to 200 Mt.
  • Logistics Advantage: Year-round access, no camp/helicopters; 3 to 3.5 hrs from Vancouver; pine-beetle-thinned cover aids access.
  • Technical Uplift: Transitioning to four-acid digestion (industry standard) vs. the historical three-acid will, on average, return materially high metal values especially where minerals are more resistant to dissolution.
  • Near-term Catalysts: Five-year drill permits in place; upcoming geophysics, geochemistry and drill programs across multiple porphyry copper/gold zones.
  • Multiple Assets in Canada: In addition to Copper Dome, Canada One’s other exploration assets include the historical small-scale, past-producing Goldrop property and the Zeus gold project.
  • Valuation Upside: Market cap just below C$3 million provides significant leverage to discovery and exploration success.
  • Capital Strategy: Management will not finance below $0.10; interim self-funding to minimize dilution.
  • Experienced Leadership: Management team is supported by resource veterans such as Dave Anthony, head of the company’s advisory board, past COO of Barrick Africa and current CEO of Assante Gold Corporation (TSX:ASE) with a $1.7 billion market capitalization.

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