Fri, March 29, 2024

Commodities

Oil

Sunflower oil jumps on shortages due to Ukraine war

On Wednesday, sunflower oil prices significantly jumped after Russia’s invasion of Ukraine halted worldwide supply. Accordingly, contracts tied to the Black Sea commodity surged 9.56% or 140.00 points to $1604.00 per metric ton. The previous week settled around $1,950.50 per metric ton, the highest level since 2018. In line with this, the price of edible …

Sunflower oil jumps on shortages due to Ukraine war Read More »

Wibest – Crude oil

Crude oil climbs as European Union mulls Russian ban

On Monday, crude prices surged as European Union nations considered joining the United States in a Russian oil embargo. The Brent crude futures increased 3.47% or 3.78 points to $111.71 per barrel. The international benchmark followed a rise of 1.21% to $107.93 per barrel last Friday. Similarly, US West Texas Intermediate crude contracts 4.05% or …

Crude oil climbs as European Union mulls Russian ban Read More »

oil

Oil on a higher move on slow Russia-Ukraine talks

Oil prices edged up on Friday after the slim progress in Russia and Ukraine peace talks raised the possibility of continued disruption to crude supply. Subsequently, the Brent crude futures increased 1.24% or 1.32 points to $107.96 per barrel. The international benchmark surged nearly 9.00% on Thursday, the most significant percentage gain since mid-2020. Likewise, …

Oil on a higher move on slow Russia-Ukraine talks Read More »

Crude oil jumps on IEA supply shortfall warning

Crude oil jumps on IEA supply shortfall warning

On Thursday, crude oil prices clawed back their previous losses due to the supply shortfall warning of the International Energy Agency. Accordingly, Brent crude futures edged up 2.37% or 2.30 points to $100.35 per barrel. The international benchmark reversed its loss of 1.89% to $98.02 per barrel. At the same time, US West Texas Intermediate …

Crude oil jumps on IEA supply shortfall warning Read More »

Gold prices in cautious trade ahead Fed meeting

Gold prices in cautious trade ahead Fed meeting

Gold declined amid the cautious trade on Wednesday as investors looked forward to the US Federal Reserve’s latest policy decision. Accordingly, futures tied to the yellow metal declined 0.46% or 8.60 points to $1,921.05 per troy ounce. It trailed a plunge of 1.59% to $1,929.70 per troy ounce yesterday, hovering around a two-week low. Nevertheless, …

Gold prices in cautious trade ahead Fed meeting Read More »

Oil prices turn to a 2-week low on Ukraine talks

On Tuesday, oil prices slipped to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions. Accordingly, Brent Crude futures for May delivery edged down 5.92% or 6.34 points to $100.71 per barrel. The international benchmark extended a drop of 3.60% to $106.90 per barrel yesterday. At the same …

Oil prices turn to a 2-week low on Ukraine talks Read More »

Corn prices decline as traders assess Ukraine crisis

Corn prices decline as traders assess the Ukraine crisis

On Monday, US corn futures stepped lower on the cited progress of the diplomatic efforts to end the war in Ukraine. Contracts tied to the grain fell 1.54% or 11.70 points to $749.38 per metric ton. Still, it trades 14.44% higher in the past month. Accordingly, market sentiment boosted after Ukrainian and Russian negotiators gave …

Corn prices decline as traders assess the Ukraine crisis Read More »

opec

Crude oil prices bounce up amid supply worries

On Friday, crude oil prices are back in positive territory, but on course for their most significant weekly declines since November. Accordingly, Brent crude futures increased 2.82% or 3.14 points to $112.39 per barrel. The international benchmark recovered from a plunge of 1.63% to $109.33 per barrel yesterday. Likewise, US West Texas Intermediate oil contracts …

Crude oil prices bounce up amid supply worries Read More »

Oil

US Bans Russian Oil and Energy Imports

On Tuesday, United States President Joe Biden announced an immediate ban on Russian oil and other energy imports. Remarkably, it is a significant escalation in the international response to Moscow’s invasion of Ukraine. The decision came after the strong support of American voters and lawmakers, targeting the main artery of the Russian economy. Specifically, the …

US Bans Russian Oil and Energy Imports Read More »

US Gas Prices Skyrocketed on Russia-Ukraine Conflict

US Gas Prices Skyrocketed on Russia-Ukraine Conflict

On Monday, US gasoline prices at the pump skyrocketed to their highest since 2008 amid the escalating Russia-Ukrainconflictct. The American Automobile Association (AAA) reported that the average regular-grade gasoline posted at $4.07 per gallon. Subsequently, gasoline price provider GasBuddy mentioned that the average price of US gas spiked by nearly $0.41 per gallon. It stands …

US Gas Prices Skyrocketed on Russia-Ukraine Conflict Read More »

Oil Jumps as Ukraine Conflict Offsets Iran Supply Hopes

Oil Jumps as Ukraine Conflict Offsets Iran Supply Hopes

On Friday, oil prices remained elevated as fears of a disruption in Russian oil exports outweighed the potential revival of an Iranian nuclear deal. Accordingly, the Brent crude futures edged up 1.80% or 2.00 points to $112.54 per barrel. Then, the contracts linked to West Texas Intermediate increased 2.48%, or 2.67 points, to $110.28 per …

Oil Jumps as Ukraine Conflict Offsets Iran Supply Hopes Read More »

Metal Prices Extend Surge on Low Global Stockpiles

Metal Prices Extend Surge on Low Global Stockpiles

On Thursday, metal prices extended their rally as global stockpiles remained low amid Russia’s increasing economic isolation. Accordingly, aluminum prices significantly hiked 4.60%, or 160.00 points, to a high of $3,638.00 per tonne. Then, US copper futures rose 1.90% or 0.08 points to $4.76 per pound, hovering around a record territory. Similarly, contracts linked to …

Metal Prices Extend Surge on Low Global Stockpiles Read More »