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CleanTech Lithium (LSE:CTL) has entered into option agreements to acquire full ownership of two mining properties in Argentina’s Salar de Antofalla, extending its lithium exploration portfolio in South America.

The agreements cover the Genoveva and Sal de Litio 1 properties in the southern part of the salar, approximately 80 kilometres from the company’s Laguna Verde project in Chile. The licences are located next to an exploration asset held by Albemarle.

According to CleanTech Lithium, preliminary geophysical studies indicate the presence of a substantial brine-bearing aquifer beneath the properties. Further exploration will be required to establish the extent and lithium content of the resource.

The company intends to undertake a drilling and resource assessment programme in 2027, with an estimated budget of US$500,000. The programme will seek to establish an initial mineral resource estimate compliant with JORC reporting standards.

Under the option agreements, CleanTech Lithium is scheduled to make payments totalling US$1.925 million through to 2031 to secure 100% ownership of the two properties. The company expects to fund the initial payments using its existing cash resources.

Management has identified potential operational links between the Antofalla properties and its existing Laguna Verde and Viento Andino projects. These could include shared infrastructure and the development of a central lithium conversion facility, although such arrangements remain part of the company’s longer-term development plans.

The Antofalla agreements form part of CleanTech Lithium’s strategy to develop a portfolio of lithium brine projects across South America. The planned 2027 exploration programme will provide additional information on the resource potential of the newly optioned properties.

CleanTech Lithium is an exploration and development company listed on London’s AIM market and the Frankfurt Stock Exchange. Its portfolio includes the Laguna Verde project in Chile and Viento Andino, with activities focused on lithium resources intended for battery and electric vehicle supply chains.

Gold prices moved lower on Wednesday as the US dollar strengthened, with investors awaiting minutes from the Federal Reserve’s September meeting for additional information on the direction of monetary policy.

At 08:40 GMT, spot gold declined 0.9% to $4,126.02 an ounce, while gold futures were down 0.8% at $4,151.90 an ounce.

The US Dollar Index rose 0.4% to 102.26. A stronger US currency can make dollar-denominated gold more expensive for buyers using other currencies.

Fed Minutes Could Provide Further Rate Guidance

The Federal Reserve is due to release minutes from its September meeting, when policymakers increased interest rates for the first time since 2023.

The central bank’s projections indicated that additional rate increases could follow before the end of the year as policymakers respond to inflation remaining above the Fed’s 2% target.

Expectations for another increase at the Fed’s next meeting have since moderated. Several Fed officials have indicated less urgency for an October increase, while recent employment figures were weaker than expected.

The direction of interest rates remains relevant for gold because higher borrowing costs can increase the opportunity cost of holding assets that do not generate interest or other income.

Central Banks Remain Net Gold Buyers

Purchases by central banks have continued to support gold demand despite uncertainty surrounding the outlook for interest rates, according to ING analysts.

World Gold Council figures cited by ING showed central banks purchased a net 39 tonnes of gold in August.

That brought net purchases since the beginning of the year to 170 tonnes, according to the data.

Oil prices edged higher on Wednesday as markets weighed signs of improving crude supplies from the Gulf against continuing risks to shipping in the Middle East and the possibility of weather-related disruption to US production.

At 08:08 GMT, Brent crude futures were up 0.4% at $100.96 a barrel. US West Texas Intermediate futures were broadly unchanged at $89.47 a barrel.

Crude prices had initially fallen towards $97 a barrel in the previous session after data showed that Gulf oil exporters exceeded pre-war export levels for approximately half of September.

Supply expectations were also affected by a Group of Seven commitment to release emergency energy reserves and the reopening of Saudi Arabia’s East-West pipeline.

Brent subsequently moved back above $100 as investors assessed reports of further Iranian attacks on tankers travelling through the Strait of Hormuz. Deutsche Bank analysts cited the developments as a source of renewed caution over regional supplies.

Iranian state media also reported that an explosion had been heard near Qeshm island, close to the Strait of Hormuz, adding to uncertainty surrounding tanker movements through the area.

Middle East Shipping Routes Remain Under Pressure

Fighting between Saudi-aligned coalition forces in Yemen and Iran-backed Houthi forces has also intensified.

Government forces and Saudi Arabia have increased air strikes against Houthi-controlled areas, including locations near the Bab el-Mandeb Strait, another important route for oil shipments from the region.

ING analysts said, “There is a clear tug-of-war at the moment between improving supply from the region and lingering threats to supply. Clearly, it’s looking as though the only way to see prices trade sustainably lower is for lingering risks to be addressed.”

The analysts added: “For now, the market is likely to remain nervous to any potential supply disruptions.”

Potential Hurricane Adds to US Supply Uncertainty

Oil markets are also monitoring a developing storm that could affect US energy-producing regions.

Forecasters said the storm could develop into the first Atlantic hurricane of 2026 within two days and potentially approach areas accounting for approximately 15% of US crude production and 5% of the country’s natural gas output, according to Reuters.

Separately, US crude inventories declined by 2.09 million barrels in the week to October 2, according to American Petroleum Institute data released on Tuesday.

Official US inventory figures are due later on Wednesday.

European equities traded lower on Wednesday as crude oil prices increased and investors awaited the release of minutes from the Federal Reserve’s latest policy meeting.

The pan-European STOXX 600 declined 0.4% after reaching a near one-week high in the previous session.

Germany’s DAX fell 0.8%, while the FTSE 100 in London declined 0.4%. Spain’s IBEX 35 was down 0.6%, while France’s CAC 40 also fell 0.6%.

Oil prices moved higher as markets assessed geopolitical risks following missile and drone attacks by Yemen’s Houthi forces targeting Saudi Aramco energy facilities in Saudi Arabia.

French Fiscal Outlook Remains in Focus

European equities had recently fallen to their lowest levels since June amid a sell-off in government bonds following the presentation of France’s draft budget.

Concerns surrounding French government debt and the country’s political outlook pushed the French 10-year government bond yield to levels last seen in 2002, while the spread over German government bonds widened beyond 140 basis points.

European markets subsequently recovered some ground after plans were outlined to reduce French government spending by €54 billion and lower structural deficits.

However, uncertainty remains over France’s fiscal and political outlook ahead of the country’s 2027 presidential election.

Investors Await FOMC Minutes and Third-Quarter Earnings

Attention is also turning to the Federal Open Market Committee minutes from the Federal Reserve’s previous policy meeting, which are due later on Wednesday.

Investors will be looking for further information on policymakers’ views regarding the outlook for US interest rates.

Money markets currently indicate an approximately 78% probability that the Federal Reserve will leave interest rates unchanged at its next meeting, according to the supplied information.

European investors are also preparing for the third-quarter corporate earnings season, which is due to begin next week.

Company guidance will provide further information on the impact of higher energy costs, elevated borrowing costs and consumer demand on corporate margins and earnings expectations.

UBS expects the upcoming third-quarter earnings season to show further improvement in European corporate profits, while maintaining a positive view on eurozone equities despite higher interest rates and energy prices.

Matthew Gilman, head of European equity strategy at UBS Global Wealth Management’s Chief Investment Office, said revenue is becoming a more significant contributor to profit growth alongside “an already well-established cost discipline.” He added that currency effects are shifting from a headwind to a source of support.

UBS expects eurozone earnings to grow 15% in both 2026 and 2027.

Gilman cited global manufacturing purchasing managers’ indices for September and Germany’s Ifo survey as indicators of underlying demand. The bank expects structural investment trends to continue despite broader economic pressures.

UBS Sees Continued Investment in AI, Electrification and Defence

Gilman said investment in artificial intelligence “still appears to be constrained more by supply than by funding.”

UBS expects further indications during the earnings season that the economic benefits associated with AI investment are extending across a broader range of companies, following similar developments in the previous quarter.

The bank also expects higher energy prices to support investment in electrification and defence, areas that Gilman considers relatively resilient to broader macroeconomic pressures.

UBS is monitoring whether higher input costs and interest rates begin to affect demand or corporate margins. Gilman sees greater exposure to these pressures among consumer-focused companies, where demand remains subdued and companies have less ability to increase prices.

However, UBS expects cost controls and investment-related demand to offset some of these pressures across much of the corporate sector.

UBS Maintains Attractive Rating on Eurozone Equities

UBS maintained its “Attractive” rating on the eurozone and identified information technology, industrials, banks and healthcare among its preferred sectors. The bank also favours German equities within the region.

UBS additionally continues to recommend its “European Leaders” and “Swiss Small and Mid-Cap Prospects” investment themes.

Gilman said discretionary consumer spending has faced pressure from higher interest rates and oil prices but expects conditions to improve if the outlook for energy flows becomes more favourable.

Within consumer-related investments, he favours a selective approach focused on higher-end spending through UBS’s “Luxury & Lifestyle” theme, which the bank expects to be more resilient than other discretionary segments.

European and British wholesale natural gas prices moved slightly higher on Wednesday as forecasts for cooler temperatures across Northwestern Europe coincided with continued additions to European gas storage.

The benchmark Dutch front-month gas contract rose 1.5% to €76.80 per megawatt-hour (MWh), trading near its recent multi-week highs.

In Britain, the equivalent wholesale gas contract increased 0.5% to 189.03 pence per therm.

Cooler Forecasts Bring Heating Demand Into Focus

Weather forecasts for Northwestern Europe have been revised towards lower temperatures over the coming weeks, potentially bringing forward the seasonal increase in heating demand across residential and industrial markets.

European Union gas storage facilities were approximately 73% full, according to the supplied information. Inventories have increased in recent weeks but remain below levels recorded at the same point last year.

The combination of cooler weather forecasts and lower year-on-year storage levels has kept expected winter demand in focus, although continued injections into storage have provided additional supply ahead of the heating season.

LNG Supply and Geopolitical Risks Remain in Focus

European gas markets are also monitoring security risks affecting Persian Gulf shipping routes and attacks on regional energy infrastructure, given the potential implications for seaborne liquefied natural gas supplies.

The market is additionally assessing the availability of LNG supplies and the reduction in Russian pipeline gas flows to Europe.

UBS recently raised its fourth-quarter target for the Dutch TTF gas price to €75/MWh, citing a slower recovery in LNG supply and the reduction in Russian pipeline gas.

Further changes in European gas prices are likely to remain sensitive to temperatures, storage levels and LNG availability during the winter period.