Just four days after halting its participation in the pact, Russia said on Wednesday that it would resume. The accord permits Ukraine to export grain across the Black Sea. Due to a drone strike on its fleet there, Moscow withdrew over the weekend, claiming it could not ensure the safety of civilian ships traveling through …
Russia To Come Back to the Black Sea Grain Settlement Read More »
Tuesday saw a decline in Chicago wheat and corn futures as grain exports from Ukraine resumed despite Russia’s suspension of participating in an export deal for a secure shipping route from Ukrainian ports. Soybeans increased expectations of increased U.S. export sales to China. At 1138 GMT, the most actively traded wheat on the Chicago Board …
Wheat In Decline as Hopes Are High for Ukraine’s Export Read More »
On Monday, maize and wheat futures in Chicago increased by more than 2% as worries about world supply were stoked by Russia’s decision to leave a Black Sea export pact. After peaking at $8.93 earlier in the day, the most active wheat contract on the Chicago Board of Trade (CBOT) was up 5.7% at $8.77-3/4 …
In a forthcoming key report, OPEC should retain its position that global oil consumption will rise for another ten years. This is longer than many other forecasts estimate. That is despite the increasing importance of renewable energy sources and electric vehicles, according to two OPEC sources. On October 31, the Organization of the Petroleum Exporting …
Oil prices increased on Thursday, extending a gain of about 3% from the previous session. The excitement over record U.S. oil exports and indications that recessionary fears are subsiding outweighed worries about weak Chinese demand. Even while oil stocks increased, data released on Wednesday revealed record U.S. crude exports, a positive indication for demand. Early …
After industry data revealed that U.S. crude stocks increased more than anticipated on Wednesday, oil prices dropped, though supply concerns limited losses. By 0635 GMT, December Brent oil futures were down $1.03, or 1.1%, to $92.49 per barrel after closing 26 cents higher the previous day. The December contract for West Texas Intermediate (WTI) oil …
How Are the Oil Prices Changing Amid Supply Struggles? Read More »
Although weaker indicators of U.S. business activity tempered expectations of aggressive interest rate hikes and limited price cuts, data showed Chinese demand remained weak in September, and a stronger U.S. dollar weighed on oil prices. Oil prices ultimately settled lower in choppy trade on Monday. After climbing 2% last week, Brent oil futures for December …
How Is the Released Chinese Data Shaping the Energy Market? Read More »
Chinese statistics showed that oil prices fell on Monday after the world’s biggest oil importer showed weak demand in September due to tightening coronavirus restrictions and reduced oil exports. After increasing 2% the previous week, Brent oil futures for December settlement decreased 67 cents, or 0.7%, to $92.83 a barrel by 11:10 GMT. U.S. WTI …
China’s Demand Data Were Another Push to the Energy Market Read More »
After Germany accepted the EU’s request for a mechanism to control wholesale prices throughout the upcoming winter, benchmark prices for natural gas in Europe dropped again on Friday, moving back toward their lowest levels in four months. Front-month futures for the Dutch TTF contract, which acts as a benchmark for northwest Europe, were down 9.9% …
On Thursday, the EU’s 27 member states will gather for the second time in two weeks to discuss efforts to reduce energy costs. However, the EU’s ability to cap gas prices seems questionable due to ongoing tensions within the EU. After deciding to fill gas storage and seize money from energy companies to use for …
Leaders Meet Again Over the Looming Energy Crisis in Europe Read More »
On Wednesday, oil prices increased marginally but cautiously as bearish considerations like unclear Chinese demand growth and dropping gas costs offset optimistic signs like declining U.S. crude stocks. By 0913 GMT, the price of Brent oil futures for December settlement increased by 60 cents, or 0.7%, to $90.63 per barrel. Brent saw a low of …
Pressure on the Oil Market Becomes Increasingly More Read More »
Despite tumultuous trading, oil prices maintained stable on Monday as concerns over soaring inflation and energy costs pushing the world economy into a recession outweighed China’s continued adoption of a loose monetary policy. Following a 6.4% decline the previous week, Brent oil futures were down 1 cent, or 0.01%, to $91.62 per barrel. The U.S. …
What Impacts Global Recessions Had on Oil So Far? Read More »
The copper markets anticipated quarterly output numbers from some of the biggest miners in the world, coming later this week. Meanwhile, gold prices edged up on Monday but remained capped below critical support levels as investors worried about additional interest rate hikes by the Federal Reserve. According to statistics, inflation in the United States is …
According to an examination of power statistics, Europe’s electricity use reached levels last seen during the worst COVID-19 epidemic. However, several nations still need to reduce consumption to prepare for a potential energy supply shortage this winter. Following a fall in Russian gas supplies due to Western sanctions, European countries are rushing to save energy …
How Will Winter Be Like for Europeans Amid Energy Crisis? Read More »
The International Energy Agency said on Thursday that OPEC+’s agreement to reduce supply last week has increased prices and placed the world economy at risk of recession. The Paris-based organization, made up of the United States and other major oil consumers, said that the persistent decline in the global economy and higher prices brought on …
Will OPEC+ Supply Cuts Drive Us Into a Global Recession? Read More »
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