<div id="readability-page-1"><div>MARKET MOVEMENTS: --Brent crude oil is down 2.5% to $61.17 a barrel. --European benchmark gas is down 2.3% to 29.06 euros a megawatt-hour. --Gold futures are up 0.4% to $4,112.30 a troy ounce. --LME three-month copper futures are up 0.5% to $10,839 a metric ton. TOP STORY: The Carbon Capture Plan Turning Cattle Farms Into Power Plants Looking out across a dairy farm in Germany, you might see cows, verdant pastures and a grazing shed or two for the herd. But for Google, McKinsey and other companies that are part of the Frontier coalition focused on carbon removal, they see such cattle farms as a way to green the planet-with the help of shipping-container-size power plants. The Frontier coalition of carbon removal buyers is investing in German startup Reverion, paying it $41 million to remove 96,000 tons of carbon dioxide between 2027 and 2030. OTHER STORIES: NIO Net Loss Narrows on Strong Sales, Margin Chinese electric-vehicle maker NIO reported a smaller net loss in the third quarter, reversing a recent widening trend, as sales and margins improved significantly despite stiff competition in the world's largest auto market. The Shanghai-based company on Tuesday said its net loss narrowed to 3.66 billion yuan, equivalent to $515.3 million, from 5.14 billion yuan a year earlier. That was better than the 3.71 billion yuan estimate of analysts polled by Visible Alpha. MARKET TALKS: Gold Futures Little Changed After U.S. Data -- Market Talk 1450 GMT - Gold prices are little changed following softer-than-expected retail U.S. sales data for September, with New York futures up 0.6% to $4,116.50 a troy ounce. Retail spending increased 0.2% in September, suggesting consumers closed out the summer months on weaker footing, according to a delayed report. Meanwhile, wholesale prices rose in line with economists' expectations. &#34;Downward progress on inflation remains stalled, but overall this set of price data are not convincing enough to move the [Federal Open Market Committee] doves concerned about downside labor market risks closer to the inflation hawks,&#34; says Thomas Ryan from Capital Economics. (giulia.petroni@wsj.com) -- U.S. Natural Gas Retreats Ahead of Expiration -- Market Talk 0937 ET - U.S. natural gas futures are sharply lower ahead of today's December expiration, with prospects for a Russia-Ukraine peace also weighing. A peace deal could mean more Russian flows of natural gas to the EU, and less LNG from the U.S., Dennis Kissler of BOK Financial says in a note. Yesterday's move below the 200-day moving average triggered some sell-stops &#34;with follow through selling this morning as long-positioned traders are moving back to the sidelines even though the mid-section of the U.S. is bracing for its first major cold spell of the season,&#34; he adds. Nymex gas for December delivery is down 5.8% at $4.284/mmBtu. (anthony.harrup@wsj.com) -- Oil Extends Losses on Prospects for Russia-Ukraine Peace -- Market Talk 0839 ET - Oil futures lose more ground following reports that Ukraine agrees with the core terms in a U.S. proposal to end the Russia-Ukraine war. The latest U.S. push to bring an end to the war has reduced the geopolitical risk premium supporting oil prices in a market concerned about oversupply. WTI is down 1.4% at $58.03 a barrel and Brent is 1.3% lower at $62.52 a barrel.(anthony.harrup@wsj.com) -- China's Export Control Situation 'Alarming', EU's Industry Chief Says -- Market Talk 1310 GMT - The current supply-chain situation created by China's export controls on raw minerals is alarming, Stephane Sejourne, the EU's top industrial policy official, says at a debate in Strasbourg on Tuesday. China's commerce ministry tightened its grip on the country's rare-earth minerals in October by adding new restrictions to exports that include obliging suppliers to seek approval to export some products with certain rare-earth materials. Export licenses are only being granted in a limited fashion, Sejourne says. The EU needs to reduce its independence and China's 12-month pause on some licensing restrictions might not last, she says. &#34;The cost of independence is high but it is not as high as the cost of dependence,&#34; he adds. (edith.hancock@wsj.com) -- TTF Gas Price Decline Seen as Premature -- Market Talk 1259 GMT - European natural-gas prices are expected to rise again in the coming months as recent declines look premature, according to Commerzbank Research analysts. The benchmark Dutch TTF contract currently trades 1% lower at 29.45 euros a megawatt hour, down nearly 8% on the month. &#34;Given the recent drop in temperatures, the already initiated withdrawal from storage could accelerate in the short term, potentially increasing market nervousness,&#34; they say. &#34;How quickly market sentiment can shift was evident last winter, when prices notably increased in February, partly due to significantly lowered storage levels.&#34; (giulia.petroni@wsj.com) -- U.S. LNG Growth, Weaker Chinese Demand Drive European Gas Lower -- Market Talk 1249 GMT - The European gas market is benefiting from LNG production growth in the U.S. and weak gas demand in China, Commerbank analysts say, with TTF prices now below 30 euros a megawatt hour for the first time in more than a year. The U.S. has significantly expanded its LNG exports this year following the commissioning of two new terminals--Plaquemines and Corpus Christi--with the EIA projecting a 25% increase in average daily exports by year end. Meanwhile, in China, LNG imports since the beginning of the year are around 16% lower compared to the year-earlier period. &#34;However, this opportunity has not been utilized to maximize the filling of gas storage facilities for this winter,&#34; the analysts say. &#34;On the contrary, Europe's gas storage levels were about 9 percentage points lower than last year's levels at the end of last week.&#34; (giulia.petroni@wsj.com) -- Gold Prices Keep Finding Underlying Support in Geopolitical Uncertainty -- Market Talk 1119 GMT - Gold prices remain supported by persistent geopolitical tensions despite broader uncertainty about the Federal Reserve's next policy move, says Kudotrade's Konstantinos Chrysikos. &#34;The geopolitical backdrop is still dominated by instability in the Middle East and renewed tensions in Eastern Europe,&#34; he says. &#34;While diplomatic channels continue to explore the contours of a potential Russia-Ukraine agreement, meaningful progress remains elusive.&#34; Meanwhile, investment demand is also showing signs of resilience with gold-backed ETF inflows driven by strong demand in Asia, according to Chrysikos. Investors' focus is now on the release of delayed U.S. economic data, which is expected to offer clearer insights into labor market trends and inflation pressures as the Fed nears its final policy meeting of the year. Gold futures rise 0.9% to $4,131.30 a troy ounce in afternoon trading. (giulia.petroni@wsj.com) -- Copper Rises on Rate-Cut Bets, Supply Tightness Signals -- Market Talk 1109 GMT - Copper prices rise in afternoon trading, buoyed by renewed expectations of further U.S. interest-rate cuts this year and signs of tightening supply. Futures on the London Metal Exchange gain 0.5% to $10,835 a metric ton and are up 1.3% on week. Dovish comments from some Federal Reserve governors have pushed traders to increase their bets on a December rate cut, while the Chilean mining authority's decision to raise its copper price forecast for this year and next provided additional support. Meanwhile, &#34;LME futures are in backwardation, suggesting tighter near term supply dynamics, with prices expected to ease in the longer term,&#34; analysts at RBC Capital Markets say. Backwardation occurs when spot prices are higher than futures prices. (giulia.petroni@wsj.com) -- Palm Oil Ends Lower on Weak Exports -- Market Talk 1010 GMT - Palm oil ended lower on weak exports. Malaysia's palm oil exports during the Nov. 1-25 period are estimated to be 16.43% lower on month at 987,978 metric tons, cargo surveyor AmSpec Agri Malaysia said Tuesday. Soybean oil's overnight weakness and a stronger ringgit also reduced the tropical oil's appeal, Kenanga Futures said in a research note. Meanwhile, expectations of rising palm production continue to weigh on sentiment, it adds. Kenanga pegs support and resistance levels for the February futures contract at 3,985 ringgit and 4,085 ringgit, respectively. The Bursa Malaysia Derivatives contract for February delivery ended 65 ringgit lower at 3,990 ringgit a ton. (sherry.qin@wsj.com) -- European Gas Prices Fall on Strong Imports, Milder Weather Forecast -- Market Talk 0916 GMT - European natural-gas prices continue to trade below 30 euros a megawatt hour on signs of ample supply amid strong LNG imports and steady Norwegian flows. The benchmark Dutch TTF contract falls 0.8% to 29.50 euros a megawatt hour and is down 7.1% on the week. &#34;Ukrainian peace talks weighed on prices somewhat, while weather forecasts for December suggest milder-than-usual temperatures after a recent cold spell,&#34; analysts at ING say. Colder weather in recent days led to gas storage in the EU falling more rapidly. According to industry group Gas Infrastructure Europe, EU gas storage is now 78.7% full, below the five-year average of 89%. (giulia.petroni@wsj.com) -- Gold Rises on Renewed U.S. Rate-Cut Bets -- Market Talk (MORE TO FOLLOW) Dow Jones Newswires11-25-25 1012ET</div></div>

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The Frontier coalition, including Google and McKinsey, is investing $41 million in German startup Reverion to turn cattle farms into power plants, aiming to remove 96,000 tons of CO2 by 2030. NIO reported a smaller net loss in Q3 due to improved sales and margins. Gold futures rose slightly after weak U.S. retail sales data. U.S. natural gas futures fell sharply ahead of December expiration. Oil prices dropped on potential Russia-Ukraine peace. EU's industry chief called China's export controls on raw minerals alarming. Commerzbank expects European natural-gas prices to rise again soon.

- Brent crude oil has decreased by 2.5% to $61.17 a barrel, while European benchmark gas is down 2.3% to 29.06 euros per megawatt-hour.  
- The Frontier coalition is investing $41 million in the German startup Reverion to remove 96,000 tons of carbon dioxide from cattle farms between 2027 and 2030.  
- NIO reported a narrowed net loss of 3.66 billion yuan, better than analysts' expectations, as sales and margins improved despite competition.

The Carbon Capture Plan Turning Cattle Farms Into Power Plants -- Commodities Roundup