Renewable power prices in major global markets sharply climbed as companies turned to green energy, a hedge against rising fossil-fuel costs. Accordingly, LevelTen Energy, the operator of the world’s most significant power-purchase agreement (PPA) marketplace, reported a considerable upturn. It revealed that wind and solar power contracts skyrocketed by 28.50% year-over-year in North America. Likewise, …
On Tuesday, palladium prices pared their previous gains after the suspension of two state-owned Russian refiners in London. Futures tied to the precious metal for June delivery slashed 3.79% or 91.53 points to $2,325.77 per troy ounce. It reversed its Friday climb of 1.65% to $2,463.00 per share. Similarly, spot palladium ticked 3.60% or 87.49 …
Palladium drops after gaining on Russian supply risks Read More »
On Monday, oil skidded after a second straight weekly plunge on plans to release record volumes of crude products from strategic stocks. Brent oil futures for June 22 slashed 3.15% or 3.25 points to $99.56 per barrel. The international benchmark reversed its Friday gain of 2.19% to $102.78 per barrel. Similarly, the West Texas Intermediate …
Oil declines on the release of strategic reserves Read More »
On Friday, gold traded within a tight range as the dollar firmed on prospects of aggressive US Federal Reserve. The latest trading session partially offset safe-haven metal’s demand amid the heightened Russia-Ukraine conflict. Bullion contracts witnessed a dip of 0.23% or 4.40 points to $1,933.40 per troy ounce. It moved negatively from a slight upturn …
Gold dwindles as strong Dollar offsets Ukraine concerns Read More »
On Thursday, crude oil prices recovered from a three-week low in the previous session as concerns over tight supplies still clouded the market outlook. Brent oil futures edged up 1.19% or 1.20 points to $102.20 per barrel. The international benchmark gained its pace from a slump of 5.22% to $101.07 per barrel yesterday. Then, US …
Crude oil prices rebound as supply concerns linger Read More »
The International Coffee Organization anticipated that the global coffee market would post a 3.10 million bag deficit in the October-September season. The ICO pegged 2021/22 global coffee production at 167.20 million of 60.00 kg bags. This figure represented a 2.10% decline year-over-year. Meanwhile, bean consumption reported an annual jump of 3.30% to 170.30 million bags. …
One of the primary difficulties the rest of the world faces from the Russia-Ukraine war is supply chain difficulties. Primarily, that comes in the realm of commodities, for all three major categories in agricultures, metals, and energies. Currently, the wheat supply is contentious, as western countries eye new sanctions because of civilian killings in Bucha. …
On Monday, oil prices skidded as investors tracked a worsening Covid-19 outbreak in China. Brent Crude futures declined 0.39% or 0.32 points to $104.05 per barrel. The international benchmark extended a drop of 0.85% to $103.50 per barrel yesterday. Likewise, US West Texas Intermediate lost 0.60% or 0.57 points to $98.70 per barrel. It followed …
Oil extends retreat as China’s Covid crisis grows Read More »
Gold prices traded lower on Friday as higher U.S. Treasury yields dented the appeal of bullion. Accordingly, futures tied to the precious yellow metal skidded 0.83% or 16.10 points to $1,933.10 per troy ounce. It reversed a gain of 0.81% to $1,949.20 yesterday. At the same time, spot gold shed 0.41% or 7.99 points to …
On Thursday, US coffee prices were on a bullish track as farmers grappled with the global fertilizer shortage driven by the Ukraine-Russia war. The US coffee C futures for May 22 delivery increased by 3.19% or 6.88 points to $222.58 per metric ton. Consequently, the world’s benchmark for Arabica beans followed its Wednesday’s upturn of …
On Wednesday, wheat prices dropped as the peace talks between Russia and Ukraine in Turkey raised hopes of a ceasefire. Subsequently, U.S. wheat futures declined 0.53% or 5.50 points to $1,008.90 per metric ton. Then, London wheat contracts plummeted 1.07%, or 3.25 points to $394.37 per metric ton. On Tuesday, Moscow vowed to scale down …
Wheat prices down on Russia-Ukraine ceasefire hopes Read More »
On Tuesday, bullion prices traded lower as market participants kept an eye close to the resume of Russia-Ukraine peace talks later this day. Gold futures for the April 22 delivery slashed 1.35% or 26.25 points to $1,913.50 per ounce. The yellow metal benchmark followed Monday’s drop of 0.74% to $1,939.80 per ounce. At the same …
Gold prices decline; Russia-Ukraine talks in focus Read More »
On Monday, oil prices registered losses as fears over weaker fuel demand in China grew on Shanghai lockdown efforts. Brent crude futures skidded 3.69% or 4.44 points to $112.85 per barrel. Then, US West Texas Intermediate oil contracts declined 4.42% or 5.04 points to $108.77 per barrel. Both of the benchmarks reversed their 1.40% gain …
Oil futures edge down on worries of weaker Chinese demand Read More »
European countries currently grapple with the risk of a diesel shortfall as deeper sanctions on Russia could disrupt imports. The heavy industry significantly relied on this liquid fuel for its main processes. This includes transportation, farming, fishing, power, and heating sectors. However, the surging value of diesel further pushes up fuel and transportation costs. Correspondingly, …
Diesel shortage signals slow economic growth in Europe Read More »
On Thursday, gold held an advance as safe-haven demand remained strong ahead of potential new sanctions against Russia. Accordingly, futures tied to the yellow metal strengthened 0.20% or 3.95 points to $1,941.40 per troy ounce. It extended its gain of 0.82% to $1,937.30 yesterday. Meanwhile, spot gold slightly declined 0.14% or 2.93 points to $1,941.39 …
Gold prices firm as safe-haven demand remains strong Read More »
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