Category: 3. Business

• Wondering if Tokyo GasLtd is fairly priced, or if the market is missing something? You’re in the right place for a deeper dive into its true value.

• Shares have been on a strong run lately, with an 18.9% jump over the past month and an impressive 44.4% rally so far this year. This hints at changing growth expectations and risk appetite.

• Recent news has highlighted the company’s strategic investments in renewable energy and its push towards decarbonization. Both factors are helping drive renewed investor interest. These developments have provided fresh context for the stock’s upward momentum as Tokyo GasLtd adapts to evolving energy trends in Japan.

• But does the current price reflect the fundamentals? Based on a valuation score of 2 out of 6, there is more to uncover. Not just by the numbers, but by exploring smarter ways to value stocks. Stay tuned for a practical walkthrough and a different approach later in the article.

Tokyo GasLtd scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.

A Discounted Cash Flow (DCF) model estimates a company’s intrinsic value by projecting its future cash flows and discounting them back to today’s value. This approach provides a grounded sense of what the business is really worth, based on its ability to generate cash in the years ahead.

For Tokyo GasLtd, the most recent Free Cash Flow reported is approximately ¥146.3 billion. Analyst estimates predict some fluctuation over the next decade, with projected Free Cash Flow for the year ending March 2030 around ¥78.4 billion. It is important to note that while detailed analyst forecasts typically only reach five years, later projections are extrapolated based on recent trends.

According to the DCF model, this steady outlook leads to an estimated intrinsic value of ¥5,370 per share. Currently, the stock is trading at a level that is 17.9% above this calculated fair value. This suggests that Tokyo GasLtd is trading at a noticeable premium relative to its underlying cash flow generation potential.

Result: OVERVALUED

Our Discounted Cash Flow (DCF) analysis suggests Tokyo GasLtd may be overvalued by 17.9%. Discover 913 undervalued stocks or create your own screener to find better value opportunities.

Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Tokyo GasLtd.

The Price-to-Earnings (PE) ratio is a widely used valuation metric for profitable companies like Tokyo GasLtd because it ties a company’s share price directly to its current ability to generate profits. For investors, the PE ratio provides a clear picture of how much the market is willing to pay for each yen of earnings, making it a practical gauge for relative valuation.

Growth expectations and perceived risks play a big role in determining what is considered a “normal” or “fair” PE ratio. Companies expected to grow faster or those operating in lower-risk environments may justify higher PE multiples, while slower growth or higher risk can bring the ratio down below sector norms.

At present, Tokyo GasLtd is trading at a PE ratio of 11.6x. This is below both the industry average for Gas Utilities of 14.4x and the peer group average of 16.3x, suggesting the market is more cautious than the broader sector or Tokyo GasLtd’s direct competitors.

Simply Wall St’s proprietary “Fair Ratio” offers a more tailored benchmark, blending factors such as Tokyo GasLtd’s profit margins, growth profile, market cap, risk exposures, and its industry context. This customized ratio, 7.4x for Tokyo GasLtd, provides a deeper, company-specific gauge of value than standard industry averages or peer comparisons, which can miss nuance around a company’s individual prospects and risks.

Since the market PE ratio of 11.6x is notably higher than the Fair Ratio of 7.4x, Tokyo GasLtd appears overvalued by this measure, even though it seems less expensive than other peers and its industry on traditional multiples.

Result: OVERVALUED

PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1437 companies where insiders are betting big on explosive growth.

Earlier we mentioned that there is an even better way to understand valuation, so let’s introduce you to Narratives. A Narrative is a simple, approachable way for investors to describe their perspective on a company like Tokyo GasLtd, providing the story behind their numbers by sharing assumptions about fair value, future revenue, earnings, and margins.

Narratives connect each investor’s story to a specific financial forecast, turning personal insights into a calculated fair value and actionable investment view.

Using Simply Wall St’s Community page, millions of investors can easily access, create, and compare Narratives, making it simple to see how different viewpoints influence when to buy or sell, especially by comparing each Narrative’s Fair Value to the current Price.

Narratives are dynamic and instantly update with new information such as news or earnings releases, so your valuation story is always current.

For example, among Tokyo GasLtd Narratives, some investors are optimistic and estimate a much higher future fair value based on strong growth in renewables, while others take a more cautious stance and see a much lower fair value.

Do you think there’s more to the story for Tokyo GasLtd? Head over to our Community to see what others are saying!

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include 9531.T.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Research and Real-world Outcomes Underscore Transpara Breast AI’s Impact on Cancer Detection and Breast Imaging Workflow

CHICAGO, Nov. 30, 2025 /PRNewswire/ — ScreenPoint Medical is showcasing the industry-leading Transpara Breast AI suite, an integrated set of solutions that includes Detection, Density, and Temporal Comparison at the 111^th Annual Radiological Society of North America (RSNA) Annual Meeting, November 30-December 4, 2025 (South Hall #4719). The most clinically validated Breast AI on the market, Transpara Breast AI is built for enterprise workflows to provide radiologists with a ‘second pair’ of eyes to help detect cancer earlier, reduce radiologist workload, and improve program performance.

2025 has been a pivotal year for ScreenPoint Medical. Surpassing 11 million mammograms processed, Transpara Breast AI is deployed in over 30 countries at leading healthcare providers and has been selected by 40% of the 2025 US News and World Report’s Top 20 Best Hospitals Honor Roll recipients.

Additionally, Transpara Breast AI has been chosen in to be part of the only randomized controlled trials (RCTs) in the field of Breast AI: the MASAI RCT in Sweden and the upcoming $16mil PRISM RCT in the United States, which will commence in early 2026 and is spearheaded by researchers at UCLA and UC Davis. Results from MASAI published earlier this year found a 29% increase in cancer detection and a 44% decrease in screen-reading workload when using Transpara Detection compared to the standard of care.

Risk assessment is also a key theme at RSNA 2025: Transpara Risk, an image-based 5-year risk model for breast cancer,  and Transpara Detection are the subjects of a powerful new study, “Added Value of Breast Cancer Risk Prediction Versus Detection Over a Two-year Time Period with Mammography” (S5-SSBR02-4, Sunday, November 30, 2:30 PM, S406A). This research shows the added value of risk prediction for precision care, with Transpara solutions outperforming both RSNA CAD and Mirai. AI-based risk analysis supports ScreenPoint Medical’s commitment to women worldwide by powering personalized prevention pathways and enabling earlier diagnosis for less invasive treatment. Transpara Risk is approved for investigational use only.

In addition to Sunday’s session, the clinical and workflow benefits of Transpara Breast AI are the subject of notable presentations and posters throughout the week at RSNA:

• The study, “Comparing Four Commercial AI Algorithms for Standalone Breast Cancer Detection on Digital Breast Tomosynthesis in a Dutch Population-based Screening Cohort” (T3-SSBR05-6, Tuesday, December 2, 9:30 AM, S406A) is the first study to compare commercial AI algorithms for screening DBT on the same large dataset. The results showed significant differences in performance between some of the four commercial AI algorithms with Transpara Detection outperforming the competition. 
• The poster, “Potential of Artificial Intelligence to Detect Interval Breast Cancers” (M5A-SPBR, Monday, December 1, 12:15 PM, Learning Center) suggests that Transpara Detection may have facilitated earlier detection of 38% of interval breast cancers, especially those missed or underestimated by radiologists. Research conducted at Johns Hopkins Medicine.
• The study, “Use of Multiple Prior Exams Improves Specificity of an AI System for Breast Cancer Detection in a Retrospective Multi-site Validation” (T3-SSBR05, Tuesday, December 2, 9:30 AM, S406A) finds that Transpara Breast AI achieves a higher specificity when using prior exams for analysis.
• The poster, “Real-World Performance of an FDA-approved Artificial Intelligence Tool for Screening Mammography” (W5B-SPBR-3, Wednesday, December 3, 12:45 PM, Learning Center) shows early positive results of clinical adoption into a busy screening mammography practice. Transpara Detection demonstrated strong performance in stratifying cancer risk and supporting recall decisions. Research conducted at Johns Hopkins Medicine.
• The study, “AI Pre-reading of Digital Breast Tomosynthesis: A Multi-site Validation of a Novel Imaging Biomarker for Confident Identification of Normal DBT Examinations” (R1-SSBR10, Thursday, December 4, 8:00 AM, S406A), showed that a novel AI-driven imaging biomarker for pre-reading of DBT can confidently identify approximately one-third of normal DBT screening exams with a negative predictive value nearing 100%. This may enable pre-reading in screening, potentially allowing radiologists to accelerate the reading of this group of DBT exams, safely improving radiologist efficiency and reducing workload.

“We believe that research drives real-world results. The groundbreaking research presented at RSNA 2025 this week as well as our ongoing research across breast imaging RCTs support the reality that Transpara Breast AI is elevating the standard of care” said Pieter Kroese, CEO of ScreenPoint Medical. “Our partners, our performance, and our product are the reasons healthcare leaders consistently choose Transpara Breast AI. We look forward to fruitful dialogue and forward momentum at radiology’s leading conference.”

To discover more about the leading Breast AI solutions on the market, visit Booth #4719 (South Hall) at RSNA 2025 or schedule an online product overview after the show at https://screenpoint-medical.com

About ScreenPoint Medical 

In the fight against breast cancer, every image is an opportunity: to unlock insight, to uncover risk, to embody health, to empower life. We build AI-powered technology for every step of the breast imaging continuum, improving consistency, reducing uncertainty, enhancing patient experience, and translating opportunity into tangible outcomes.

Proven through research, driven by innovation, and tailor-made for those seeking to lead in breast health, ScreenPoint’s Transpara Breast AI is trusted by radiologists and women across the globe. We are Breast AI. Learn more at https://screenpoint-medical.com

SOURCE ScreenPoint Medical

PORT CANAVERAL, Fla., Nov. 30, 2025 /PRNewswire/ — Princess Cruises, one of the best-known names in cruising, today marked a major milestone with the arrival of the cruise line’s very first Royal-Class ship, Sky Princess, to homeport in Port Canaveral, beginning a season of Caribbean cruises from Central Florida.

Starting today and continuing through March 2026, Sky Princess will offer six- and eight-day Caribbean cruises to pristine beaches and tropical paradises, sailing roundtrip from Port Canaveral. The ship is scheduled to return next year for a second November 2026-March 2027 season – all cruises are on sale now.

Port Canaveral offers easy accessibility for guests driving, flying, or taking advantage of Princess’ exclusive Rail & Sail program with Brightline.

“Building on the success of our inaugural Caribbean season from Port Canaveral, we’re delighted to return to the Space Coast for another series of sailings,” said Jim Berra,  Princess Cruises Chief Commercial Officer. “Our guests appreciate the convenience of cruising from Central Florida, and with the addition of Sky Princess, we’re pleased to offer even greater capacity and even more ways for guests to enjoy the Princess experience.”

Sky Princess itineraries can be combined into incredible 14-day voyages visiting the  island paradises of Turks & Caicos, Puerto Rico, St. Thomas, Amber Cove, and much more.

“Princess Cruises is a valued partner and we’re very proud of the success they’ve had sailing from our Port,” said Port Canaveral CEO Capt. John Murray. “Sky Princess is a great addition to the lineup of cruise options from Central Florida. We look forward to delivering a high-quality guest experience for everyone sailing on this stunning new ship.”

The 3,660-guest, 141,000-ton Sky Princess elevates the distinctive, contemporary design and attractions of Princess’ renowned Royal-class ships. From award-winning cuisine and dynamic entertainment to elegantly appointed accommodations, Sky Princess delivers unforgettable experiences designed for today’s most discerning travelers.

Additional information about Princess Cruises is available through a professional travel advisor, by calling 1-800-PRINCESS (1-800-774-6237), or by visiting the company’s website at www.princess.com.

About Princess Cruises:   
Princess Cruises is The Love Boat, the world’s most iconic cruise brand that delivers dream vacations to millions of guests every year in the most sought-after destinations on the largest ships that offer elite service personalization and simplicity customary of small, yacht-class ships. Well-appointed staterooms, world class dining, grand performances, award-winning casinos and entertainment, luxurious spas, imaginative experiences and boundless activities blend with exclusive Princess MedallionClass service to create meaningful connections and unforgettable moments in the most incredible settings in the world – the Caribbean, Alaska, Panama Canal, Mexican Riviera, Europe, South America, Australia/New Zealand, the South Pacific, Hawaii, Asia, Canada/New England, Antarctica, and World Cruises. Star Princess, the brand’s newest and most innovative ship, launched October 2025, and sister ship to Sun Princess, named Condé Nast Traveler Mega Ship of the Year for a second consecutive year. The company is part of Carnival Corporation & plc (NYSE/LSE:CCL; NYSE:CUK).  

SOURCE Princess Cruises

Story Continues

Treatment with subcutaneous toripalimab (JS001sc) plus chemotherapy exhibited noninferior drug exposure compared with toripalimab injection (JS001) for the frontline treatment of patients with metastatic or recurrent nonsquamous non–small cell lung cancer (NSCLC) in the phase 3 JS001sc-002-III-NSCLC trial (NCT06505837), according to a news release from the drug’s developer, Junshi Biosciences.¹

According to the developers, the intravenous agent displayed similar safety and efficacy compared to the subcutaneous indication, and the developers plan to present study data from the phase 3 trial at an upcoming international academic conference. Furthermore, they plan to submit a new drug application for JS001sc for all approved indications of JS001 to regulatory authorities.

“Since its launch as China’s first domestically developed PD-1 antibody drug, toripalimab has secured approvals for 12 indications, benefiting a significant number of patients. In clinical practice, we observed that patients undergoing immunotherapy, either as monotherapy or combination maintenance therapy, face challenges such as frequent intravenous catheterization and time-consuming infusions,” Jianjun Zou, MD, general manager and CEO of Junshi Biosciences, said in the news release.¹ “The recent success of the phase 3 study for JS001sc, achieved through the efforts of both patients and the research team, marks not only a pivotal breakthrough in transitioning [immuno-oncology] therapy from efficacy to convenience but also exemplifies Junshi Biosciences’ patient-centric ambition.”

The study, led by Lin Wu, MD, from the Hunan Cancer Hospital in Changsha, China, sought to test the subcutaneous formulation of toripalimab and was the first phase 3 study to assess a domestic anti–PD-1 monoclonal antibody as a subcutaneous formulation. Most immunotherapy options are given intravenously in China. The developers express that this results in lengthy infusion times and inconveniences to patients.

The multicenter, open-label phase 3 trial randomly assigned patients with recurrent or metastatic nonsquamous NSCLC to receive subcutaneous toripalimab at 360 mg or intravenous toripalimab at 240 mg with chemotherapy.² Patients in the subcutaneous arm received four 21-day cycles of JS001sc plus pemetrexed/platinum-containing chemotherapy and continued to receive JS001sc and pemetrexed as maintenance in the absence of disease progression for a maximum of 35 cycles. The same dosing regimen was followed in the intravenous arm.

The primary end points were observed serum trough concentration at cycle 1 and model-predicted area under the concentration-time curve. Secondary end points included objective response rate, progression-free survival, disease control rate, duration of response, and safety.

Those eligible for entry in the phase 3 study included patients 18 years or older with histologically or cytologically confirmed recurrent or metastatic nonsquamous NSCLC, a confirmation of an absence of EGFR-sensitive mutations or ALK fusions, and no prior systemic therapy for advanced or metastatic disease. Additionally, patients with 1 measurable lesion per RECIST v1.1 criteria, an ECOG performance score of 0 or 1, an expected survival of at least 12 weeks, and adequate organ function were included in trial enrollment.

Exclusion criteria included confirmation of concomitant disease states, including small cell lung cancer component, sarcomatoid lesion, or squamous cell carcinoma component greater than 10%; known meningeal metastases and symptomatic or asymptomatic brain metastases; uncontrolled pleural effusion, pericardial effusion, or ascites requiring repeated drainage; or spinal cord compression not treated surgically or radiotherapeutically. Furthermore, those with unresolved toxicities from previous antitumor therapies, known hypersensitivity to study agents, active case or history of autoimmune disease, and severe infection within 4 weeks of first use of study drug were also deemed ineligible for trial enrollment.

References

1. Junshi Biosciences announces primary endpoints met in JS001sc’s phase 3 study for the 1st-line treatment of NSQ-NSCLC. News release. Shanghai Junshi Biosciences. November 24, 2025. Accessed November 25, 2025. https://tinyurl.com/mwx5tefa
2. JS001sc or JS001 plus chemotherapy is indicated for relapsed or metastatic first-line non-squamous non small cell lung cancer (NSCLC). ClinicalTrials.gov. Updated August 28, 2025. Accessed November 25, 2025. https://tinyurl.com/25y8yytt

Story Continues

Story Continues

Ichigo (TSE:2337) has seen its share price fluctuate in recent weeks, catching the eye of investors interested in the real estate and clean energy sectors in Japan. The company’s diverse operations provide several valuation angles to consider.

See our latest analysis for Ichigo.

Ichigo’s recent 10% surge in its 30-day share price return suggests renewed optimism after a softer patch earlier in the year. What stands out is the company’s strong longer-term momentum, with a 1-year total shareholder return of nearly 14% and longer-term gains continuing to accumulate. Confidence seems to be quietly building despite some short-term turbulence.

If Ichigo’s steady rebound has you wondering what else to watch this season, now is a smart time to broaden your scope and discover fast growing stocks with high insider ownership

But with Ichigo’s shares not far from analyst targets and solid gains already delivered, investors have to ask: is there still untapped value? Or is the market already factoring in future growth potential?

Ichigo’s narrative fair value sits only slightly above the last close, with analysts suggesting just a modest upside left from here. This setup teases a valuation outlook that hinges on the company’s evolving business mix and shareholder-focused moves.

Ichigo’s ability to leverage real estate inflation by delivering higher-value real estate at lower costs is enhancing its competitiveness, which will positively impact future revenue and profit margins.

Read the complete narrative.

Curious what underpins this price target? Analysts are focusing on continued revenue expansion, margin management, and a leaner share count. Only by diving into the full narrative can you uncover the specific financial levers driving analyst conviction. Are you ready to see the blueprint behind the modest upside?

Result: Fair Value of ¥420 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, if rising interest rates further increase borrowing costs or clean energy struggles persist, Ichigo’s path to sustainable growth may face unexpected hurdles.

Find out about the key risks to this Ichigo narrative.

Looking beyond analyst fair value, Ichigo’s shares trade at a 9.1x price-to-earnings ratio. This is notably low compared to its industry average of 11.8x and peer average of 22.1x. The market’s “fair ratio” is 12.1x, suggesting there might be even more upside than the consensus target implies. Could these valuation gaps signal a bargain, or does the low multiple point to hidden risks?

See what the numbers say about this price — find out in our valuation breakdown.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Ichigo for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 913 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you find yourself reaching a different conclusion or want to dig into the numbers on your own terms, you can explore the story and shape your own perspective in just a few minutes. Do it your way.

A great starting point for your Ichigo research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.

Don’t let opportunity pass you by. Step up your search with proven ways to spot standouts across every corner of the market using our powerful tools.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include 2337.T.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Crude Oil (WTI CL=F / Brent BZ=F): Prices Slip Toward $58 WTI and $62 Brent as Supply Glut and Peace Talks Trigger Global Sell-Off

West Texas Intermediate (WTI CL=F) is trading around $58.55 per barrel while Brent BZ=F sits near $62.38, both down sharply from October highs near $70 and $76 respectively. The decline extends the longest monthly losing streak since 2023, driven by rising U.S. output, easing geopolitical risk premiums, and OPEC+’s decision to maintain current quotas through 2026. The global oil market is now entering a decisive phase as peace efforts in Eastern Europe, record U.S. production, and an expected 2026 supply glut reshape the price landscape.

OPEC+ Holds Output Steady Through 2026 as Glut Concerns Deepen

At the 40th OPEC and non-OPEC ministerial meeting, the bloc confirmed that production caps will stay unchanged until end-2026, despite crude prices falling over 15 percent since January. The group—which collectively supplies half of global oil—reaffirmed the 2016 Declaration of Cooperation and authorized its Joint Ministerial Monitoring Committee to meet bi-monthly to supervise quota compliance. A new system for measuring maximum sustainable capacity will be implemented to set 2027 baselines, a move meant to calm tensions between the UAE (pushing for higher output rights) and under-producing members like Nigeria and Angola.

While the announcement signaled unity, markets viewed it as insufficient. Brent BZ=F closed the week near $63, with the International Energy Agency projecting a 2026 surplus above 4 million barrels per day, and J.P. Morgan warning of a “persistent glut” that could drag prices into the mid-$40 range. Tank-tracking data already shows floating storage at its highest since 2020, evidence that inventories are swelling faster than consumption.

Russia-Ukraine Peace Efforts and U.S. Shale Output Drive Price Compression

Geopolitical tensions that once supported oil have eased as Washington presses Moscow and Kyiv toward a settlement. A draft 28-point plan would end many sanctions and allow Russian crude to flow freely, potentially returning up to 2 million barrels per day to global supply. At the same time, the U.S. Energy Information Administration reports record output of 13.84 million barrels per day, surpassing pre-pandemic highs and deepening oversupply. Together these factors have pushed WTI CL=F down nearly 30 percent from its 2025 peak.

Shale operators are beginning to struggle under the $50–$60 price band. Rig counts are flattening as financing costs above 6 percent curb new drilling. Analysts warn that if prices dip toward $50, output could fall sharply by mid-2026, providing OPEC+ some relief from the current supply surge.

Saudi Arabia and Asia Pricing Cuts Add to Bearish Momentum

Riyadh has signaled its intention to reduce January crude prices for Asian buyers by around $1.50 per barrel, reflecting ample supply and muted regional demand. This would mark the third straight monthly cut in official selling prices, extending discounts to key importers such as China and India. Meanwhile, Petrobras has trimmed capital expenditure targets for 2026 as lower prices threaten profitability. With Bonny Light crude at $78.6 and Mars U.S. at $70.3, the entire oil complex is trading well below levels needed to balance many national budgets.

Market Psychology and Technical Outlook for WTI CL=F

Technically, WTI CL=F remains in a clear downtrend. The daily chart shows a descending channel with prices below the 50- and 100-day exponential moving averages. Momentum indicators have flattened, signaling a potential base around $55.9, the lowest point of the year. Breaking that support could open a path to $50, a level last seen during the 2020 pandemic. Resistance sits at $63 for WTI and $67 for Brent, levels that would require evidence of meaningful inventory drawdowns to be retested

 

U.S. Inventory Data and Macro Factors

The latest EIA inventory report showed a 2.7 million-barrel increase in stocks, extending a multi-month build. Refinery utilization is holding around 88 percent, but exports have slowed amid logistical bottlenecks and soft European demand. On the macro side, the Federal Reserve’s expected December rate cut may provide temporary support through a weaker dollar, though the structural imbalance between supply and demand remains the dominant driver.

China and India: Demand Frontier Facing Headwinds

China’s independent refiners (“teapots”) have resumed higher throughput as Beijing opened 2026 import quotas early, adding near-term buying support. However, national stockpiles have also swelled, suggesting that new purchases are more about inventory rebalancing than true demand growth. India’s imports rose above 5 million tons of Russian crude in November, taking advantage of Urals’ discount but contributing to the global glut. Saudi Arabia and the UAE are competing hard for Asian market share, further pressuring benchmarks.

Outlook for 2026: Balancing Act Between Policy and Physics

OPEC expects oil demand to rise by 1.6 million barrels per day to 106.2 million bpd in 2026, while non-OPEC supply could expand by 1.3 million bpd. The IEA’s own projection of a 4 million bpd surplus contrasts sharply with OPEC’s optimism, creating uncertainty that feeds volatility. Traders are already pricing in a year-end average of $60 for Brent BZ=F and $56 for WTI CL=F, levels that reflect both structural oversupply and weaker geopolitical premiums.

Verdict: HOLD — Short-Term Bearish, Medium-Term Neutral

Crude oil remains under pressure from record U.S. output, looming Russian supply returns, and limited OPEC+ discipline. Support around $55 for WTI and $60 for Brent is critical. If inventories keep rising and peace talks progress, a dip toward $50 WTI is possible before production cuts and seasonal demand rebalance the market. For now, the trend stays bearish short-term, but the market is approaching levels where long-term value buyers may begin to accumulate.

That’s TradingNEWS

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Accenture has started calling its nearly 800,000 employees “reinventors”, as the consultancy overhauls itself to adapt to the explosion of artificial intelligence and advises companies adopting the technology.

The label has already been used by chief executive Julie Sweet and the New York-listed group is pushing to have the term adopted more widely, according to people at the firm.

The term “reinventors” was born from a mammoth reorganisation announced by the consultancy in June, which united its strategy, consulting, creative, technology and operations units into a single business called “Reinvention Services”.

The rollout of the neologism follows a long tradition of corporate jargon to describe employees, including Disney’s “imagineers” and Amazon’s “ninja coders”.

Accenture has said its ambition is to be clients’ “reinvention partner of choice” by helping them to adopt AI tools.

On a September earnings call, Sweet referred to employees as “reinventors” multiple times as she discussed the reorganisation.

She also warned that more staff would be asked to leave if they could not be retrained for the age of AI amid more sluggish demand for consulting projects.

The consultancy has built a trial version of its internal human resources website in which staff are labelled “reinventors” rather than “workers”, according to a person familiar with the matter.

The company has a history of creating its own corporate language. Its name, intended as a derivative of “accent on the future”, was ridiculed when it was adopted in 2001 after the business, Andersen Consulting, broke ties with accounting group Arthur Andersen and was forced to change its name. The rebrand was reported to have cost $100mn.

Accenture’s market capitalisation surged to more than $260bn during a boom in demand for consulting services following the Covid-19 pandemic, but has since fallen to about $150bn as the sector faces a growth slowdown.

“Jargon is used in the consulting world to signal expertise or relevance without having to invest in underlying competencies and knowledge . . .[or make] boring or staid jobs or processes appear to be novel and exciting,” said André Spicer, executive dean and professor of organisational behaviour at the Bayes Business School and author of Business Bullshit. 

He warned that while jargon can occasionally boost an organisation’s image and its confidence internally, it also “increas[es] confusion, undermining trust and fostering a sense of corporate absurdity”.

Big Four accounting firm PwC in 2002 briefly rebranded its consulting division as “Monday” but the name was dropped when IBM bought the unit. PwC pointed out in a statement at the time that its unusual new name is “a real word”, seen by some commentators as a dig at Accenture.

Deborah Cameron, former professor of language and communication at Oxford university, said that using terms for staff that are “so out of step with what most people think your business is” risked attracting “incomprehension or ridicule”.

The term “reinventors might be getting into that territory”, she said. “Will clients, or the public at large, know what they’re supposed to be reinventing? Will employees themselves . . . feel OK saying they’re reinventors, or will they find that obscure, pretentious and silly?”

Accenture declined to comment.